German executives are not dedicated to the maximization of shareholder value to the degree that is the case for executives in the United Kingdom and the United States largely because:
a. of the focus on stewardship-management in German firms rather than the financial performance focus of U. S. firms.
b. large institutional investors control large blocks of stock.
c. private shareholders and large institutional investors rarely have large ownership positions in firms. d. the roles of CEO and chairperson of the board of directors are usually combined.
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