Abstract:

The separation of ownership and control in stock listed corporates is a key aspect, the so-called principal-agent relationship between the shareholders and the top-management, whereat shareholders, in particularly of large stock listed corporates, do not directly control strategic and operational management decisions. Against the background of the so-c 1 alled accounting scandals and corporates crises in the beginning of the last millennium, for instance Enron, WorldCom, Parmalat, ComROAD and Tyco, as well as the financial and economic crisis of the last years and its impacts on the corporates, like for instance Hypo Real Estate, Lehman Brothers5 and Wirecard, it is increasingly referred to the meaning of current, relevant and reliable respectively credible information and request its stronger use for the monitoring and controlling of corporates. Associated with this is the requirement of an adequate corporate publication and therewith the question, how stakeholders become additionally informed respectively in another form informed because this way a better corporate monitoring shall be pursued.