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Throughout most of the 20th century, Germany was characterized by a dense network of ownership ties between German banks, insurance companies and industrial companies. This network, which was referred to as "Deutschland AG", has been dissolving since the 1990s, a phenomenon which has been widely perceived in Germany. Less well known is that "Deutschland AG" is being replaced by a new network: "Wall Street Inc.".
At the center of this new network are foreign investors, especially large asset managers such as BlackRock and Capital Group, as well as sovereign wealth funds such as Norges Bank and the Kuwait Investment Authority.
A new video illustrates how the old network is being replaced by the new network. The research for the video originates from the project "Co-Determination and Forward Looking Corporate Governance – Measuring Workers’ Strength and Influence with a Codetermination Index (MB-ix)", which is carried out at the Berlin Social Science Center (WZB) with funding from the Hans Böckler Foundation. The video was made thanks to the cooperation between the WZB and the Berlin University of the Arts (UdK) in the Visual Society Program.
About the MB-ix project
The co-determination index MB-ix is a new and innovative measure of the degree of embeddedness of co-determination in German companies. At the same time, it provides empirical evidence for the impact of worker participation on forward looking corporate governance.