Global Pressure, National System

"Will the pressures of financial and product market globalization force European firms to switch from a stakeholder-based model of corporate governance to a shareholder-based, Anglo-Saxon system?" "In Global Pressure, National System, which makes a strong case against convergence, Alexander Borsch focuses on the impact of globalization and regulatory changes on German corporate governance, which is widely seen as the prototype of a stakeholder system. Borsch presents the results of his in-depth research on three German firms that are to varying degrees exposed to financial and product market pressure: Siemens, Deutsche Telekom, and Bosch. Despite the pressures from financial markets and global competition, he finds that none of these firms have extensively restructured along Anglo-Saxon lines." "Because the prevailing product market strategies of German firms are solidly based on the stakeholder model, change will be limited to those elements that do not destroy the firms' competive advantage."--BOOK JACKET.