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- Publisher
- Oxford University Press
- Copyright
- © 2001 by The American Society of Comparative Law, Inc.
- ISSN
- 0002-919X
- eISSN
- 2326-9197
- DOI
- 10.2307/840902
- Publisher site
- See Article on Publisher Site
Abstract
BRIAN R. CHEFFINS Th e Metamorphosi s of "German y Inc." : Th e Case of Executiv e Pa y 1. INTRODUCTION German business culture ha s been in the news lately. More pre cisely, a metamorphosis of th e German version of capitalism ha s cap tured attention. The country's finance minister has been quoted in the press as saying "Germany as a closed system, tha t is over" and "German firms have to be competitive or lose out". The chief execu tive of Deutsche Bank, an institution tha t has long symbolized Ger many's corporate establishment, has said similarly that current trend s signal "Goodbye Germany AG". The business press has echoed the same sentiments, with headlines in English-language newspapers declaring tha t "Globalization (Is) Forcing Germany Inc. 3 4 Out of Business", hailing "The Metamorphosis of Germany Inc.", referring to "Whirlwinds of Change" and drawing attention to a "Cultural Revolution". The transformation tha t is taking place in Germany gives rise to various important and interesting issues. This paper focuses on one aspect, this being executive pay. Anecdotal evidence suggests that German companies are adopting an increasingly "Anglo-American" approach when they deal with managerial remuneration issues.
Journal
American Journal of Comparative Law – Oxford University Press
Published: Jul 1, 2001