Niemiecki nadzór korporacyjny

• Autorzy: Małgorzata Król-Witte
• Języki publikacji: PL

Abstrakty

Corporate governance, czyli nadzór korporacyjny, jest jednym z kluczowych i najczęściej dyskutowanych tematów gospodarczych ostatnich lat. To nowa problematyka, która w wielu krajach Europy dopiero zaczyna nabierać znaczenia. Jest to efektem zarówno globalnego rozwoju rynków międzynarodowych, jak też fuzji i przejęć na wspomnianych rynkach kapitałowych oraz licznych skandali w biznesie, które w ostatnim czasie zachwiały porządkiem gospodarki zarówno europejskiej, jak i amerykańskiej. Głównie jednak, wspomniane skandale stały się powodem do przemyśleń nad dotychczasowymi uregulowaniami gospodarczymi i propozycjami zmian lub dopasowań prawa gospodarczego do zaistniałych potrzeb rynków międzynarodowych. (fragment tekstu)

EN

The topics of this article - entitled "Corporate governance in Germany" - contributes to corporate governance and business ethics which have been receiving a lot of attention in Germany recently. In media, in business world and also in politics the current situation of corporate management in relation to business ethics have been creating many discussions. This discussion has been triggered among other things by the affairs of Enron, Holzmann and Mannesmann in the international markets and the falsification of balance sheets, the high indemnity amounts and respectively, the remuneration policy of higher management in many international-oriented companies. Because of this situation new laws have been passed (TransPuG, KonTraG,) and different initiatives (Baums Kommission, Cromme Kommission, Deutscher Corporate Governance Kodex) have been developed to deal with German corporate governance. The definition of corporate governance is a responsible, transparent and long-term oriented business management control system. The main principles are protection of the shareholder interest and equal treatment of shareholders including recommended norms and definition of reporting requirements and information supply. Corporate governance in Germany is regulated through the German Corporate Governance Codex (Deutscher Corporate Governance Kodex), which was founded in 2002 by the government and the chancellor, Gerhard Schôder. The contents of this codex are annually reviewed and adjusted to the current needs and situation in the business world. The codex is based on the results of different researches and recommendations of two government commissions: the Baums Commission and the Cromme Commission. The tasks of these initiatives were to review the existing conditions and formulate the requirements as well as provide recommendations of corporate governance actions. The Baums Commission and the Cromme Commission worked mainly on the insufficient representation of shareholders interest, the dual management system (board of management vs. supervisory board), and the lack of transparency in the German management system with respect to remuneration policy, the hidden independence of the controlling body as well as the limited independence of the auditors. The commissions paid extra attention to the remuneration policies in German corporations (in relation to business ethics) as well as to the personal liability insurances of the management. The points of critique and the recommendations of the commissions, concerned an enhancement in the financial responsibility of the corporate leadership and a decrease in the extra payments in the case of additional responsibilities e.g. chairman of supervisory board, as well as realistic adjustment of the variable payments of the management. Parallel to the changes in the European corporate governance system the last year, where EU-Minister Frits Bolkenstein presented a 10-point action plan to improve the system, the German Minister of Justice, Brigitte Zypries, introduced a similar plan concerning the German market. In the EU-action plan the main topics were: transparency, information supply and publication of manager salaries which were also topics in the Zypries-project and were later applied in the German corporate governance codex. Research of implementation and application of Deutscher Corporate Governance Kodex shows a steady increase in the acceptance of the codex norms, the regulations as well as the recommendations in German corporations. Even a topic as controversial as the transparent management compensation finds increasing approval in the domestic market. In the last couple of years Germany shows that it is best way to a good, functioning corporate governance system with international standards. However, legislation alone (even as innovative as the German), is not enough to create complex awareness of the importance of corporate governance and business ethics in the German business world. The German corporations should not only know the legislation and the principles of business ethics but also apply and develop them further. (original abstract)

Słowa kluczowe

PL

Ład korporacyjny; Regulacje prawne; Organy zarządzające spółek; Wynagrodzenia; Controlling; Systemy kontrolne

EN

Corporate governance; Legal regulations; Managing bodies of companies; Remuneration; Controlling; Controlling systems

• Czasopismo: Zeszyty Studiów Doktoranckich / Akademia Ekonomiczna w Poznaniu. Wydział Ekonomii
• Rocznik: 2005
• Numer: nr 21
• Strony: 5--24

Twórcy

autor

Małgorzata Król-Witte

Bibliografia

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