Finance Capitalism and Germany's Rise to Industrial Power (Hardcover)

Based on a wide array of new data collected by the author, the book uses clear theoretically-motivated economic analysis to explain the structure, performance, and influence of universal banks and securities markets on firms during industrialization. The German universal banks played a significant but not overwhelming role in the ownership and control of corporate firms. Banks gained access to boards via a confluence of their underwriting and brokerage activities, the legal phenomena of bearer shares and deposited voting rights, and the flourishing securities markets of the turn of the twentieth century. In general, bank relationships had little impact on firm performance; stock market listings, or ownership structure, were more important. The findings show that securities markets can thrive within a civil-law, universal-bank system and suggest that financial system complexity can favor rapid industrial expansion.

General

Imprint:	Cambridge UniversityPress
Country of origin:	United Kingdom
Series:	Studies in Macroeconomic History
Release date:	2007
First published:	2007
Authors:	Caroline Fohlin
Dimensions:	229 x 152 x 27mm (L x W x T)
Format:	Hardcover
Pages:	406
ISBN-13:	978-0-521-81020-3
Categories:	Books > Business & Economics > Economics > General
LSN:	0-521-81020-5
Barcode:	9780521810203

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