Journal ArticleDOI
Law, Politics and the Rise and Fall of German Stock Market Development, 1870-1938
TLDR
The stock market development in Germany between 1870 and the beginning of World War II has been studied in this article, showing that regulatory changes occurring in the 1880s and 1890s contributed to a very high survival rate among those companies going public, and the market retained its vibrancy through the 1920s notwithstanding an infamous hyperinflation episode. Collapse followed, however, at least partly due to regulatory changes inimical to the publicly quoted firm brought about by the ideological shifts under Nazi rule.Abstract:
Law and politics had a significant impact on stock market development in Germany between 1870 and the beginning of World War II. IPOs can be a bellwether for stock market development and nearly 1100 were carried out on the Berlin Stock Exchange during this period. Regulatory changes occurring in the 1880s and 1890s contributed to a very high survival rate among those companies going public. The IPO market retained its vibrancy through the 1920s notwithstanding an infamous hyperinflation episode. Collapse followed, however, in the 1930s, at least partly due to regulatory changes inimical to the publicly quoted firm brought about by the ideological shifts under Nazi rule.read more
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Twentieth-Century Enterprise Forms: Japan in Comparative Perspective
Leslie Hannah,Makoto Kasuya +1 more
TL;DR: However, Japan's commercial code of 1899 omitted the GmbH (private company) form, which Guinnane et al. as mentioned in this paper see as the jewel in the crown of Germany's organizational menu.
Journal ArticleDOI
Hyperinflation and Stabilization in Weimar Germany
TL;DR: In this paper, a review of new books about hyperinflation and stabilization in Weimar Germany is presented, with a focus on the authorship of the authors and the authors.
Posted Content
Twentieth Century Enterprise Forms: Japan in Comparative Perspective
Leslie Hannah,Makoto Kasuya +1 more
TL;DR: However, Japan's commercial code of 1899 omitted the GmbH (private company) form, which Guinnane et al. as discussed by the authors see as the jewel in the crown of Germany's organizational menu.
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Journal ArticleDOI
Der späte Fluch des Dritten Reichs: Pfadabhängigkeiten in der Entstehung der bundesdeutschen Wirtschaftsordnung *
TL;DR: The impact of the Third Reich on the economic policies of post-war Germany was significantly greater than hitherto known as mentioned in this paper, and it was found that regulations from the Nazi period continued to be in force after the war, or were even reintroduced.
Journal ArticleDOI
Banks on Board: German and American Corporate Governance, 1870–1914
Jeffrey Fear,Christopher Kobrak +1 more
TL;DR: The role of money-centered banks, both as board members in large corporations and as intermediaries on the stock exchange, was examined in this paper, highlighting the role of banks as stabilizers in the event of panics, bankruptcies, foreign investment, and corporate consolidation.