|
Based on your IP address, your paper is being delivered by:
|
 |
 |
 |
 |
 |
New York, USA
Processing request.
|
Illinois, USA
Processing request.
|
Brussels, Belgium
Processing request.
|
Seoul, Korea
Processing request.
|
California, USA
Processing request.
|
If you have any problems downloading this paper,
please click on another Download Location above, or
File name: SSRN-id278275. ; Size: 238K
|
|
Product Market Competition, Corporate Governance, And Firm Performance: An Empirical Analysis For Germany
Silke I. Januszewski
Massachusetts Institute of Technology (MIT)
Jens F. Koke
affiliation not provided to SSRN
Joachim K. Winter
University of Munich
July 2001
Abstract:
This study examines the impact of product market competition and corporate governance on productivity growth in German manufacturing. Using a panel of almost 500 firms over the years 1986--94, we find that firms experience higher productivity growth when operating in markets with intense competition. Similarly, productivity growth is higher for firms under control of a strong ultimate owner, but not when the ultimate owner is a financial institution (a group that consisted almost exclusively of German banks and insurance firms in our sample period). Our results also indicate that competition and tight control are complements: The positive effect of competition is enhanced by the presence of a strong ultimate owner.
Number of Pages in PDF File: 34
Keywords: competition, corporate governance, productivity
JEL Classification: D24, D43, G32
working papers series
Download This Paper
Date posted: August 14, 2001
Suggested CitationJanuszewski, Silke I., Koke, Jens F. and Winter, Joachim K., Product Market Competition, Corporate Governance, And Firm Performance: An Empirical Analysis For Germany (July 2001). Available at SSRN: http://ssrn.com/abstract=278275 or http://dx.doi.org/10.2139/ssrn.278275
|
| Feedback to SSRN (Beta) |
|
|
People who downloaded this paper also downloaded:
1.
Corporate Governance, Product Market Competition and Firm Performance in India
By
Manoranjan Pattanayak
2.
Empirical Evidence on Corporate Governance in Europe. The Effect on Stock Returns, Firm Value and Performance
By
Rob Bauer,
Nadja Guenster, ...
3.
Ownership Structure, Corporate Governance, and Firm Value: Evidence from the East Asian Financial Crisis
By
Karl Lins
and
Michael Lemmon
4.
Corporate Governance and Firm Performance: Theory and Evidence from Literature
By
Pallab Biswas
and
Md. Hamid Bhuiyan
5.
Corporate Governance, Product Market Competition, and Equity Prices
By
Xavier Giroud
and
Holger Mueller
6.
Does Corporate Governance Causally Predict Firm Performance? Panel Data and Instrumental Variables Evidence
By
Vitaliy Zheka
7.
Firm Performance, Financial Institutions And Corporate Governance In The Netherlands
By
Harry Garretsen,
Robert Chirinko, ...
|
|
|
|
