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Publications - MPIfG

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36<br />

<strong>MPIfG</strong> Report 1999–2002<br />

Planck Institute for the Study of Societies) and Kozo<br />

Yamamura (University of Washington–Seattle) with <strong>MPIfG</strong><br />

research contributions from Philip Manow and Gregory Jackson.<br />

External participants include Robert Boyer (CEPREMAP,<br />

Paris), Ronald Dore (London School of Economics), Heidi<br />

Gottfried (Wayne State University), Erica Gould (Stanford<br />

University), Ulrich Jürgens (Wissenschaftszentrum Berlin für<br />

Sozialforschung – WZB), Peter Katzenstein (Cornell University),<br />

Herbert Kitschelt (Duke University), Stephen Krasner<br />

(Stanford University), Ikuo Kume (Kobe University), Gerhard<br />

Lehmbruch (Universität Konstanz), Jacqueline O’Reilly<br />

(WZB), T.J. Pempel (University of Washington–Seattle),<br />

Kathleen Thelen (Northwestern University), Sigurt Vitols<br />

(WZB), and Steven Vogel (Harvard University). The project<br />

was begun in June 1996 and completed in June 1999 with support<br />

of the Tamaki Foundation. Its results have been published<br />

in two edited volumes. Project duration: June 1996 to<br />

December 2001.<br />

Related project: Organizing the Firm<br />

Wolfgang Streeck, Kozo Yamamura (eds.)<br />

The End of Diversity? Prospects for German and Japanese<br />

Capitalism. Ithaca, NY: Cornell University Press, 2003, 401 pp.<br />

Wolfgang Streeck, Kozo Yamamura (eds.)<br />

The Origins of Nonliberal Capitalism: Germany and Japan in<br />

Comparison. Ithaca, NY: Cornell University Press, 2001, 304<br />

pp.<br />

The Impact of Capital Markets and<br />

Codetermination on the Investment Behavior<br />

of Large German Companies<br />

Rainer Zugehör<br />

This doctoral project investigates the impact of the capital<br />

market on the investment behavior of firms under conditions<br />

of codetermination. There are strong indications that changing<br />

capital markets have a large impact on the investment<br />

decisions of German companies. If this is true, what role does<br />

codetermination play in companies’ decisions? And how is<br />

codetermination affected by German companies’ reactions to<br />

the changes in the capital market? Codetermination might<br />

become less effective if there was a trend toward short-term<br />

investment, if companies increased their investment in financial<br />

assets, and if they concentrated on their core business<br />

instead of pursuing diversification. Empirically, the project<br />

draws on quantitative data from the 100 largest German companies<br />

and on case studies based on interviews. Project duration:<br />

January 1999 to December 2001.<br />

Main project: The Impact of Internationalization on German<br />

Industrial Relations<br />

Rainer Zugehör<br />

Zukunft des rheinischen Kapitalismus: Unternehmen zwischen<br />

Kapitalmarkt und Mitbestimmung. Opladen: Leske + Budrich,<br />

2003, 229 pp.<br />

Rainer Zugehör<br />

Mitbestimmt ins Kapitalmarktzeitalter? Restrukturierung bei<br />

VEBA AG und Siemens AG. In: Die Mitbestimmung, No. 5/<br />

2001, 50 Jahre Montan-Mitbestimmungsgesetz, 38–42 (2001)<br />

Anke Hassel, Martin Höpner, Antje Kurdelbusch, Britta Rehder,<br />

Rainer Zugehör<br />

Two Dimensions of the Internationalization of Firms. <strong>MPIfG</strong><br />

Working Paper 01/3. Cologne: Max Planck Institute for the<br />

Study of Societies, 2001. Online: <br />

Anke Hassel, Martin Höpner, Antje Kurdelbusch, Britta Rehder,<br />

Rainer Zugehör<br />

Zwei Dimensionen der Internationalisierung: Eine empirische<br />

Analyse deutscher Großunternehmen. In: Kölner Zeitschrift<br />

für Soziologie und Sozialpsychologie, Vol. 52, No. 3,<br />

500–519 (2000)<br />

Anke Hassel, Martin Höpner, Antje Kurdelbusch, Britta Rehder,<br />

Rainer Zugehör<br />

Dimensionen der Internationalisierung: Ergebnisse der Unternehmensdatenbank<br />

Internationalisierung der 100 größten<br />

Unternehmen in Deutschland. <strong>MPIfG</strong> Working Paper 00/1.<br />

Cologne: Max Planck Institute for the Study of Societies,<br />

2000. Online: <br />

Organizing the Firm: Corporate Governance<br />

in Germany and Japan<br />

Gregory Jackson<br />

This project examines the historical origins and contemporary<br />

transformation of corporate governance in Germany and<br />

Japan. Historically, how did Germany and Japan develop<br />

similar non-liberal corporate governance regimes relative to<br />

Anglo-Saxon models? And how has the diversity of national<br />

models evolved under the pressures of political and economic<br />

internationalization? Two sets of institutions are examined:<br />

those fostering “closed ownership” and patient capital, and<br />

those establishing rights of industrial citizenship giving<br />

employees voice in the corporation. Despite the historical<br />

strengths of the German and Japanese models, internationalization<br />

alters the capacity of states and organized social groups<br />

to shape corporate governance. Corporations now face growing<br />

constraints from financial markets that raise the question<br />

of convergence on an Anglo-Saxon model of the corporation,<br />

embodied in the concept of shareholder value. The project<br />

began in 1998 in conjunction with the <strong>MPIfG</strong> project<br />

“Germany and Japan: The Future of Nationally Embedded<br />

Capitalism in a Global Economy.” The results were submitted<br />

as a Ph.D. thesis at Columbia University (New York) in<br />

February 2001. Project duration: May 1998 to October 2001.<br />

Main project: Germany and Japan<br />

Gregory Jackson<br />

Corporate Governance in Germany and Japan: Liberalization

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