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In 2002, the German Corporate Governance Code was adopted. This paper examines the overall acceptance of the Code recommendations and identifies its critical standards that receive comparably less agreement among German listed companies. The study is based on the compliance declarations of 408 firms listed at the Frankfurt Stock Exchange. The findings indicate a significantly high level of Code conformity which can be expected to increase in the future. Comparative analyses reveal that company size is positively associated with the extent of Code compliance. Neuralgic norms concern the personal liability and compensation of the board members, the staffing of the boards, the structure of the supervisory board and accounting requirements. Copyright Blackwell Publishing Ltd 2005.

Prior evidence suggests that board independence may enhance financial performance, but this relationship has been tested almost exclusively for Anglo-American countries. To explore the boundary conditions of this prominent governance mechanism, we examine the impact of the formal and information institutions of 18 national business systems on the board independence-financial performance relationship. Our results show that while the direct effect of independence is weak, national-level institutions significantly moderate the independence-performance relationship. Our findings suggest that the efficacy of board structures is likely to be contingent on the specific national context, but the type of legal system is insignificant

(2015) 'Congurations of capacity for change in entrepreneurial threshold rms : imprinting and strategic choice perspectives.', Journal of management studies., 52 (4). pp. 506-530. Further information on publisher's website:http://dx.doi.org/10.1111/joms.12121 Publisher's copyright statement: This is the accepted version of the following article: Judge, W. Q., Wei Hu, H., Gabrielsson, J., Talaulicar, T., Witt, M. A., Zattoni, A., Lopez-Iturriaga, F., Chen, J., Shukla, D., Quttainah, M., Adegbite, E., Luis Rivas, J. Kibler, B. (2015). Congurations of capacity for change in entrepreneurial threshold rms: Imprinting and strategic choice perspectives. Journal of Management Studies, 52(4): 506-530, which has been published in nal form at http://dx.doi.org/10.1111/joms.12121. This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.Additional information: Use policyThe full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that:• a full bibliographic reference is made to the original source • a link is made to the metadata record in DRO • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders.Please consult the full DRO policy for further details. Configurations of Capacity for Change in Entrepreneurial Threshold Firms: Imprinting and Strategic Choice PerspectivesABSTRACT Imprinting theory suggests that founding conditions are 'stamped' on organizations, and these imprinted routines often resist change. In contrast, strategic choice theory suggests that the firm can overcome organizational inertia and deliberately choose its future. Both theories offer dramatically different explanations behind an organization's capacity for change. IPO firms provide a unique context for exploring how imprinting forces interact with strategic choice factors to address organizational capacity for change as a firm moves from private to public firm status. Juxtaposing imprinting and strategic choice perspectives, we employ fuzzy set to examine the multi-level determinants of organizational capacity for change.Our cross-national data reveals three effective configurations of organizational capacity for change within IPOs, and two ineffective configurations. Our results suggest that the antecedents of organizational capacity for change in entrepreneurial threshold firms are nonlinear, interdependent, and equifinal.Word Count: 138 (< 150)

Prior studies of IPO underpricing, mostly using agency theory and single-country samples, have generally fallen short. In this study, we employ the knowledge-based view (KBV) to explore underpricing across 17 countries. We find that agency indicators are insignificant predictors, that board of director knowledge limits underpricing, and external knowledge both substitutes for and complements internal board knowledge. This third finding suggests that future KBV studies should consider how internal and external knowledge states interact with each other. Our study offers new insights into the antecedents of underpricing and extends our understanding of comparative governance and the KBV of the firm