TY  - UNPD
A1  - Schmidt, Reinhard H.
A1  - Tyrell, Marcel
T1  - Information theory and the role of intermediaries in corporate governance
T2  - Universität Frankfurt am Main. Fachbereich Wirtschaftswissenschaften: [Working paper series / Finance and accounting] Working paper series, Finance & Accounting ; No. 142
N2  - We investigate the connection between corporate governance system configurations and the role of intermediaries in the respective systems from a informational perspective. Building on the economics of information we show that it is meaningful to distinguish between internalisation and externalisation as two fundamentally different ways of dealing with information in corporate governance systems. This lays the groundwork for a description of two types of corporate governance systems, i.e. insider control system and outsider control system, in which we focus on the distinctive role of intermediaries in the production and use of information. It will be argued that internalisation is the prevailing mode of information processing in insider control system while externalisation dominates in outsider control system. We also discuss shortly the interrelations between the prevailing corporate governance system and types of activities or industry structures supported.
T3  - Working paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting - 142 
KW  - Corporate Governance / Informationsökonomik / Informationsverbreitung / Finanzintermediär / Theorie
KW  - Economics of information
KW  - corporate governance
KW  - financial systems
KW  - complementarity
KW  - Corporate Governance
KW  - Mittelsperson
Y1  - 2004
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/3714
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-17643
PB  - Univ., Fachbereich Wirtschaftswiss.
CY  - Frankfurt am Main
ER  -