Corporate governance has emerged as a decisive business issue. Less corpora te governance research is undertaken in civil law countries like Germany. I n this thesis, the role of institutional investors in Germany is studied with the aim of providing an answer to the following research question: What role do independent institutional investors play in the corporate governance of listed German companies? This study follows an inductive qualitative research approach. The research model is based on six variables – board oversight, board nomination, identifying weaknesses, making recommendations, introducing changes in corporate strategy and exercising institutional power – to determine the role of institutional investors and to provide answers.
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