Corporate governanace in Britain and Germany

Peter F Hart ()

No 31, National Institute of Economic and Social Research (NIESR) Discussion Papers from National Institute of Economic and Social Research

Abstract: The shortcomings of corporate governance in Britain have contributed to its relatively poor economic performance. The minority report by the employers' representatives on the Bullock Committee 1977 recommended that Britain should adopt a modification of the German two‐tiered board system, with one third of the votes of the supervisory board allocated to employees' representatives. Such a system would reduce the threat of hostile takeovers and enable the lower or managing board to adopt long‐term optimisation policies, including increases in their expenditure on training and research. Such long‐term investment, which is vital in a world of rapidly changing technology, is much greater in German companies than in British companies, partly because of their different system of corporate governance. Contact NIESR if copy required

Date: 1993-05
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