495
Views
5
CrossRef citations to date
0
Altmetric
Original Articles

How Political Institutions Determine Corporate Governance Reforms: The Polity, Law and Corporate Practices in the Case of Switzerland

Pages 565-596 | Published online: 26 Nov 2010

References

  • Aggarwal , R. 2007 . Do U.S. Firms Have the Best Corporate Governance? . ECGI Finance WP , 145/2007
  • Armingeon , K. 2005 . Comparative Political Dataset 1960–2003 , Bern : Institute of Political Science . Available from: http://www.ipw.unibe.ch/content/team/klaus_armingeon/comparative_political_data_sets/index_ger.html (accessed 7 November 2009)
  • Armour , J. 2007 . Shareholder Protection and Stock Market Development: An Empirical Test of the Legal Origins Hypothesis . CBR Working Paper No. 358 ,
  • Bank Julius Bär . 1991 . Besitzverhältnisse von Schweizer Aktien . Marktübersicht Schweiz , : 1 – 43 .
  • Bank Julius Bär . 1996 . Besitzverhältnisse von Schweizer Aktien . Marktübersicht Schweiz , : 22 – 34 .
  • Bebchuk , L. and Roe , M. 2004 . “ A Theory of Path Dependence in Corporate Ownership and Governance ” . In Convergence and Persistence in Corporate Governance , Edited by: Gordon , J. N. and Roe , M. J. 69 – 113 . Cambridge : Cambridge University Press .
  • Beiner , S. 2003 . An Integrated Framework of Corporate Governance and Firm Valuation – Evidence from Switzerland . WWZ/Department of Finance Working Paper No. 10/03 ,
  • Böckli , P. 2002 . Harte Stellen im Soft Law . L'Expert-comptable suisse , 11 : 981 – 96 .
  • Bolton , P. and von Thadden , E.-L. 1998 . Blocks, Liquidity, and Corporate Control . Journal of Finance , 53 ( 1 ) : 1 – 25 .
  • Burkhalter , T. 2001 . Einheitsaktien. Ihre Einführung und Existenz im Lichte der Diskussion um Corporate Governance , Zurich : Schulthess .
  • Cheffins , B. 2001 . Does Law Matter? The Separation of Ownership and Control in the United Kingdom . The Journal of Legal Studies , 30 ( 1 ) : 459 – 84 .
  • Cioffi , J. W. and Höpner , M. 2006 . The Political Paradox of Finance Capitalism: Interests, Preferences, and Center-Left Party Politics in Corporate Governance Reform . Politics and Society , 34 ( 4 ) : 463 – 502 .
  • Coffee , J. C. 2000 . The Rise of Dispersed Ownership: The Role of Law in the Separation of Ownership and Control . Columbia Law and Economics Working Paper No. 182 ,
  • Culpepper , P. 2005 . Institutional Change in Contemporary Capitalism. Coordinated Financial Systems since 1990 . World Politics , 57 ( 1 ) : 173 – 99 .
  • Culpepper , P. 2007 . Eppure, non si muove: Legal Change, Institutional Stability and Italian Corporate Governance . West European Politics , 30 ( 4 ) : 784 – 802 .
  • Culpepper , P. 2010 . Quiet Politics: Business Power and Corporate Control , (Cambridge: Cambridge University Press)
  • David , T. 2009a . De la «forteresse des alpes» à la valeur actionnariale: histoire de la gouvernance d'entreprise suisse au 20e siècle , book manuscript
  • David , T. 2009b . “ The Swiss Business Elite between 1980–2000: Declining Cohesion, Changing Educational Profile and Growing Internationalization ” . In European Economic Elites. Between a New Spirit of Capitalism and the Erosion of State Socialism , Edited by: Stattler , F. and Boyer , C. 197 – 220 . Berlin : Duncker & Humblot .
  • Davoine , E. 2005 . Formation et parcours professionnel des dirigeants d'entreprise en Suisse . Revue Economique et Sociale , 3 : 89 – 99 .
  • Deeg , R. and Jackson , G. 2007 . Towards a More Dynamic Theory of Capitalist Variety . Socio-Economic Review , 5 ( 1 ) : 149 – 79 .
  • Dyllick , T. and Torgler , D. 2007 . Bildungshintergrund von Führungskräften und Plazierungssträrke von Universitäten in der Schweiz . Die unternehmung , 61 ( 1 ) : 71 – 96 .
  • Economiesuisse . 2002 . Swiss Code of Best Practice for Corporate Governance , Zurich : Economiesuisse .
  • Franks , J. R. , Mayer , C. and Rossi , S. 2003 . Ownership: Evolution and Regulation . ECGI–Finance Working Paper No. 63 ,
  • Forstmoser , P. 2005 . “ Gewinnmaximierung oder soziale Verantwortung? ” . In Summa. Dieter Simon zum 70. Geburtstag , Edited by: Kiesow , R. M. , Ogorek , R. and Simitis , S. 207 – 35 . Frankfurt/Main : Max-Planck-Institut für Europäische Rechtsgeschichte .
  • Gilson , R. 2005 . Controlling Shareholders and Corporate Governance: Complicating the Comparative Taxonomy . ECGI–Law Working Paper No. 53 ,
  • Gourevitch , P. A. and Shinn , J. S. 2005 . Political Power and Corporate Control. The New Global Politics of Corporate Governance , Princeton, , NJ : Princeton University Press .
  • Hall , P. and Soskice , D. 2001 . Varieties of Capitalism: The Institutional Foundations of Comparative Advantage , Oxford : Oxford University Press .
  • Hirsch , A. 1995 . Le droit boursier et le droit des sociétés . Revue suisse du droit des affaires , 5 : 228 – 34 .
  • Höpner , M. 2003 . Wer beherrscht die Unternehmen? Shareholder Value, Managerherrschaft und Mitbestimmung in Deutschland , Frankfurt : Campus .
  • Kaufmann , H. and Kunz , B. 1991 . Shareholder Restrictions in Switzerland , Zurich : Bank Julius Bär .
  • Kläy , H. 1997 . Die Vinkulierung. Theorie und Praxis im neuen Aktienrecht , Basel : Helbing und Lichtenhahn .
  • Kunz , P. 2001 . Der Minderheitenschutz im schweizerischen Aktienrecht , Bern : Stämpfli .
  • Kunz , R. 2002 . Simplification of Equity Capital Structure and Market Value . Financial Markets and Portfolio Management , 16 : 30 – 52 .
  • La Porta , R. , Lopez-de-Silanes , F. and Shleifer , A. 1999 . Corporate Ownership Around the World . Journal of Finance , 54 ( 2 ) : 471 – 517 .
  • La Porta , R. 1998 . Law and Finance . Journal of Political Economy , 106 ( 6 ) : 1113 – 55 .
  • Lazonick , W. and O'Sullivan , M. 2000 . Maximizing shareholder value: a new ideology for corporate governance . Economy and Society , 29 ( 1 ) : 13 – 35 .
  • Lele , P. and Siems , M. M. 2006 . Shareholder Protection: A Leximetric Approach . CBR Working Paper No. 324 ,
  • Lijphart , A. 1999 . Patterns of Democracy: Government Forms and Performance in Thirty-six Countries , New Haven : Yale University Press .
  • Loderer , C. and Jacobs , A. 1995 . The Nestlé Crash . Journal of Financial Economics , 1995 ( 37 ) : 315 – 39 .
  • Loderer , C. and Zgraggen , P. 1998 . Der Stimmrechtskampf von 1994 zwischen UBS und BK Vision . Neue Zürcher Zeitung , : 29 16 May
  • Lüpold , M. 2008 . Der Ausbau der „Festung Schweiz”. Aktienrecht und „Corporate Governance” in der Schweiz (1881–1961) unpublished PhD thesis, University of Zurich, Switzerland
  • Lütz , S. and Eberle , D. 2008 . Varieties of Change in German Capitalism: Transforming the Rules of Corporate Control . New Political Economy , 13 ( 4 ) : 377 – 95 .
  • Mach , A. and Pilotti , A. 2008 . Professionnalisation et changements de profils des parlementaires suisses au cours de la période récente (1980–2000) . Travaux de Science Politique , 37
  • Monks , R. and Minow , N. 1991 . Power and Accountability , London : HarperCollins .
  • Moore , M. and Rebérioux , A. 2007 . “ The Corporate Governance of the Firm as an Entity ” . In The Firm as an Entity. Implications for economics, accounting and the law , Edited by: Biondi , Y. , Canziani , A. and Kirat , T. 348 – 74 . London : Routledge .
  • NZZ . 1996 . Dossier Shareholder Value , Zurich : NZZ Verlag .
  • NZZ Online . 2008 . Travail Suisse kritisiert Managerlöhne erneut scharf . Neue Zürcher Zeitung Online , 23 June
  • Orell Füssli . 2001 . CD-ROM Der Schweizer Wirtschaft 2000 , CD-ROM, Orell Füssli Verlag .
  • Pagano , M. and Volpin , P. F. 1999 . The Political Economy of Corporate Governance . University of Salerno Working Paper No 29 ,
  • Pagano , M. and Volpin , P. F. 2005 . The Political Economy of Corporate Governance . American Economic Review , 95 ( 4 ) : 1005 – 30 .
  • Pagano , M. and Volpin , P. F. 2006 . Alfred Marshall Lecture: Shareholder Protection, Stock Market Development, and Politics . Journal of the European Economic Association , 4 ( 2–3 ) : 315 – 41 .
  • Roe , M. 2003 . Political Determinants of Corporate Governance: Political Context, Corporate Impact , New York : Oxford University Press .
  • Roe , M. 2006 . Legal Origins, Politics, and Modern Stock Markets . Harvard Law Review , 120 ( 2 ) : 460 – 527 .
  • Schaub , V. 1992 . Konzernpolitik im Schweizer Bankbereich. Eine Darstellung der Determinanten und Ausgestaltungsmöglichkeiten unter Berücksichtigung ausgewählter Schweizer Bankkonzerne , Bern : Haupt .
  • Schnyder , G. 2008 . Comparing Corporate Governance Reforms: Law, Politics and the Social Organisation of Business in the case of Switzerland, 1965–2005 unpublished PhD thesis, University of Lausanne, Switzerland
  • Schnyder , G. forthcoming . Revisiting the Party Paradox of Finance Capitalism: Evidence from Switzerland, Sweden and the Netherlands . Comparative Political Studies , 44 ( 2 )
  • Schweizerische Gewerbe-Zeitung . 1985 . Aktienrechtsrevision – Die Vernunft hat gesiegt . Schweizerische Gewerbe-Zeitung , 21 November
  • Seibt , C. 2004 . Ehrenpräsident Lear . Die Wochenzeitung , 22 April
  • Siems , M. 2009 . CBR Extended Shareholder Protection Index , Cambridge : Centre for Business Research . Available from: http://www.cbr.cam.ac.uk/pdf/Extended-Shareholder-Protection-Index.pdf (accessed 7 November 2009)
  • Thelen , K. 2003 . “ How Institutions Evolve: Insights from Comparative-historical Analysis ” . In Comparative-Historical Analysis: Innovations in Theory and Method , Edited by: Mahoney , J. and Rueschemeyer , D. 208 – 40 . Cambridge: Cambridge University Press .
  • Vatter , A. 2008 . Vom Extremtyp zum Normalfall? Die schweizerische Konsensusdemokratie im Wandel: Eine Re-Analyse von Lijpharts Studie für die Schweiz von 1997 bis 2007 . Swiss Political Science Review , 14 ( 1 ) : 1 – 47 .
  • Windolf , P. and Nollert , M. 2001 . Institutionen, Interessen, Netzwerke: Unternehmensverflechtung im Internationalen Vergleich . Politische Vierteljahresschrift , 42 : 51 – 78 .

Primary sources

  • Official Bulletin of the National Council 1985–1991 [cited as: OB NC].
  • Official Bulletin of the Council of States 1988–1991 [cited as OB CoS].
  • Official Journal of the Swiss Confederation 1983 vol. II, no.27 [cited as BB].
  • Ruling of the Swiss Federal Tribunal: BGE 83 II 297.

Federal Archives (FA), Bern

  • Federal Office of Justice (Reform of the Stock Corporation Law of 1936).
  • Fund no. G.4; E 4110(B); 1992/75; vol.1–62.
  • Fund no. G.4; E4110(B), 1989/129, vol.1–3.
  • Fund no. G.4; E4110(B), 1989/197, vol.32–74.
  • Fund no. G.4; 4110(B), 1992/175, vol.1–62.
  • Fund no. JI.212 (-); 1989/196; Gautschi Georg (Arbeitsgruppe f.d. Ueberprüfung des Aktienrechts).
  • Federal Department of Finance (elaboration of the SESTA).
  • Fund no. Az. 354.3/354.4 E 6100 (C) 1997/48, Bd. 80.

Archives of the Parliamentary Service, Bern

  • Minutes of the preparatory committees of the NC and of the CoS (1983–1991).

Archives of the Swiss Bankers Association/SwissBanking, Basel

SwissHoldings; Schweizerische Industrie Holding Gesellschaft, Bern

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.