Shareholder and Stakeholder Orientation in Corporate Covernance and Corporate Law

Type Habilitation Project

Duration since Sept. 1, 2003

  • Civil Law and Civil Procedure Group V (Civil, Business and Insolvency Law) AB (Details)

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  • Gelter, Martin (Former researcher) Project Head
 

Abstract (German)

Die theoretische gesellschaftsrechtliche Literatur ist in den letzten Jahren verstärkt von der ökonomischen Analyse des Rechts beeinflusst, fokussiert dabei allerdings im deutschsprachigen Raum nahezu ausschließlich auf die Agency-Theorie und den Interessengegensatz zwischen verschiedenen Aktionärsgruppen und dem Management. Neuere der Institutionenökonomie zuzuordnenden Ansätze, denen ein breiteres Verständnis zugrunde liegt, haben noch wenig Beachtung gefunden. Im Rahmen dieses Projekts soll diese Lücke durch eine umfassende rechtsökonomische und rechtsvergleichende Aufarbeitung geschlossen werden.

Abstract (English)

In recent years, corporate law theory in German-speaking countries has increasingly been influenced by the economic analysis of law. However, it focuses almost exclusively on agency theory, which emphasizes conflicts of interests between different groups of shareholders and managers, while newer approaches that also incorporate stakeholder issues into the analysis have largely been ignored. This projects aims at filling this gap by providing a comprehensive investigation of the issue in its comparative and economic dimension.

Publications

Journal article

2009 Gelter, Martin. 2009. The Dark Side of Shareholder Influence: Managerial Autonomy and Stakeholder Orientation in Comparative Corporate Governance. Harvard International Law Journal 50 (1): 129-194. (Details)

Paper presented at an academic conference or symposium

2009 Gelter, Martin. 2009. Aktionärsschutz oder Schutz der AG vor den Aktionären? Ein vergleichender Blick auf historische Debatten zur Natur der Aktiengesellschaft. Forum Junge Rechtswissenschaft, Universität Tübingen, Deutschland, 10.6. (Details)
  Gelter, Martin. 2009. Managerial Autonomy and Stakeholder Orientation in Comparative Corporate Governance. Berufungsvortrag, Universität Zürich, Schweiz, 03.04. (Details)
  Gelter, Martin, Pasotti, Piero. 2009. Corporate Governance, Corporate and Employment Law, and the Costs of Expropriation. 2009 EMLE Midterm Meeting, Universität Hamburg, Deutschland, 13.02. (Details)
  Gelter, Martin. 2009. Stakeholder Theory and its Impact on Corporate Law. Faculty Workshop, HEC Paris, Frankreich, 9.2. (Details)
  Gelter, Martin, Pasotti, Piero. 2009. Corporate Governance, Corporate and Employment Law, and the Costs of Expropriation. 19th Annual Meeting of the American Law and Economics Association, San Diego, Vereinigte Staaten/USA, 15.05.-16.05. (Details)
2008 Gelter, Martin. 2008. The Dark Side of Shareholder Influence: Managerial Autonomy and Stakeholder Orientation in Comparative Corporate Governance. Faculty Workshop, University of Miami, Coral Gables, Vereinigte Staaten/USA, 24.10. (Details)
  Gelter, Martin. 2008. Corporate Governance, Corporate and Employment Law, and the Costs of Expropriation. 2008 Meetings of the Canadian Law and Economics Association, University of Toronto, University of Toronto, Kanada, 26.09. (Details)
  Gelter, Martin. 2008. The Dark Side of Shareholder Influence: Managerial Autonomy and Stakeholder Protection in Comparative Corporate Governance. Faculty Workshop, Fordham Law School, New York, Vereinigte Staaten/USA, 2.12. (Details)
  Gelter, Martin. 2008. The Dark Side of Shareholder Influence: Managerial Autonomy and Stakeholder Protection in Comparative Corporate Governance. Faculty Workshop, Chicago-Kent College of Law, Illinois Institute of Technology, Chicago, Vereinigte Staaten/USA, 10.12. (Details)
  Gelter, Martin. 2008. The Dark Side of Shareholder Influence: The Connection between Managerial Autonomy and Stakeholder Orientation in Comparative Corporate Governance. SJD Colloquium, Harvard Law School, Vereinigte Staaten/USA, 14.4.-14.4. (Details)
  Gelter, Martin. 2008. The Dark Side of Shareholder Influence: Toward a Holdup Theory of Stakeholders in Comparative Corporate Governance. 2008 Meetings of the Canadian Law and Economics Association, University of Toronto, Kanada, 26.09. (Details)
  Gelter, Martin. 2008. The Dark Side of Shareholder Influence: Toward a Theory of Holdup of Stakeholders in Comparative Corporate Governance. Public Lectures and Seminars in Law and Economics, Università di Bologna, Italien, 24.01. (Details)
2007 Gelter, Martin. 2007. A Theory on the Impact of Shareholder Control and Ownership Concentration on Corporate Stakeholders. International Conference Law and Society in the 21st Century, Humboldt-Universität zu Berlin, Deutschland, 25.07-28.07. (Details)
2006 Gelter, Martin. 2006. Kapitalstruktur und Stakeholderinteressen. Plenum Junges Unternehmensrecht, Heinrich-Heine-Universität Düsseldorf, Deutschland, 04.11.2006. (Details)
2004 Gelter, Martin. 2004. Managerial Power and Stakeholder Protection. SJD Colloquium, Harvard Law School, Vereinigte Staaten/USA, 14.12. (Details)

Working/discussion paper, preprint

2009 Ecchia, Giulio, Gelter, Martin, Pasotti, Piero. 2009. Corporate Governance, Corporate and Employment Law, and the Costs of Expropriation. ECGI - Law Working Paper No. 128/2009; Harvard Olin Fellows' Discussion Paper No. 29, 5/2009. (Details)
2008 Gelter, Martin. 2008. The Dark Side of Shareholder Influence: Toward a Holdup Theory Of Stakeholders in Comparative Corporate Governance. ECGI Law Working Paper No. 96/2008. (Details)

Book or article review

2007 Gelter, Martin. 2007. Besprechung von Political Power and Corporate Control: The New Global Politics of Corporate Governance (2005), von Peter A. Gourevitch und James Shinn. The Independent Review 12 (1): 142-146. (Details)

Dissertation

2008 Gelter, Martin. 2008. Stakeholders in European and US Corporate Governance. Dissertation, Harvard Law School. (Details)

Unpublished lecture

2006 Gelter, Martin. 2006. Incomplete Contracts and the Theory of the Firm: Can Law and Economics recognize a 'Corporate Interest'?. Vortrag im Rahmen des Berufungsverfahrens für eine Professur für Law and Economics, Universität St. Gallen, 05.04. (Details)
  Gelter, Martin. 2006. Aktionärsmacht, Kapitalstruktur und der Schutz von Stakeholderinteressen. Workshop Economics & Law der Wirtschaftsuniversität Wien, Rust, 26.01. (Details)

Classification

Expertise

  • Law and Economics