What is a relationship-based governance system

The top management in the German corporate governance system

Effectiveness of Top Management Teams pp 5-37 | Cite as

The constitution of a stock corporation represents a fundamental decision about its internal order.8 In contrast to the partnership, the stock corporation is anchored in law. The Stock Corporation Act determines the organs of a stock corporation and defines how the tasks and competencies are distributed within and between these organs. The corporate organization is characteristic of the stock corporation as a legal person. This is based on a threefold structure of the executive board, the supervisory board and the general meeting, which are assigned certain areas of responsibility that are performed by natural persons.9

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© Gabler | GWV Fachverlage GmbH 2009

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