IDEAS home Printed from https://ideas.repec.org/a/bla/jacrfn/v14y2001i3p35-48.html
   My bibliography  Save this article

Recent Developments In German Capital Markets And Corporate Governance

Author

Listed:
  • Eric Nowak

Abstract

Financial economists continue to point to Germany as a relatively successful model of a "bank-centered," as opposed to a market-based, economy. But few seem to recognize that, in the years leading up to World War I, German equity capital markets were among the most highly developed in the world. Although there are now only about 750 companies listed on German stock exchanges, in 1914 there were almost 1,200 (as compared to only about 600 stocks then listed on the New York Stock Exchange). 2001 Morgan Stanley.

Suggested Citation

  • Eric Nowak, 2001. "Recent Developments In German Capital Markets And Corporate Governance," Journal of Applied Corporate Finance, Morgan Stanley, vol. 14(3), pages 35-48.
  • Handle: RePEc:bla:jacrfn:v:14:y:2001:i:3:p:35-48
    as

    Download full text from publisher

    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1745-6622.2001.tb00436.x
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fülbier, Rolf Uwe & Klein, Malte, 2013. "Financial accounting and reporting in Germany: A case study on German accounting tradition and experiences with the IFRS adoption," Bayreuth Working Papers on Finance, Accounting and Taxation (FAcT-Papers) 2013-01, University of Bayreuth, Chair of Finance and Banking.
    2. Philipp Jostarndt & Stefan Wagner, 2006. "Kapitalstrukturen börsennotierter Aktiengesellschaften: Deutschland und USA im Vergleich," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 75(4), pages 93-108.
    3. Reitzig, Markus & Ramb, Fred, 2004. "Who do you trust while bubbles grow and blow? A comparative analysis of the explanatory power of accounting and patent information for the market values of German firms," Discussion Paper Series 1: Economic Studies 2004,17, Deutsche Bundesbank.
    4. Seifert, Bruce & Gonenc, Halit & Wright, Jim, 2005. "The international evidence on performance and equity ownership by insiders, blockholders, and institutions," Journal of Multinational Financial Management, Elsevier, vol. 15(2), pages 171-191, April.
    5. Koen, Carla I., 2004. "The dialectics of globalization: what are the effects for management and organization in Germany and Japan," Research in International Business and Finance, Elsevier, vol. 18(2), pages 173-197, June.
    6. Fred Ramb & Markus Reitzig, 2005. "Who do you trust while Shares are on a Roler-Coaster Ride? Balance Sheet and Patent Data as Sources of Investor Information During Volatile Market Times," DRUID Working Papers 05-15, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    7. Marc Goergen & Miguel Manjon & Luc Renneboog, 2008. "Is the German system of corporate governance converging towards the Anglo-American model?," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 12(1), pages 37-71, March.
    8. Leuz, Christian & Wüstemann, Jens, 2003. "The role of accounting in the German financial system," CFS Working Paper Series 2003/16, Center for Financial Studies (CFS).
    9. M. Lüpold & Gerhard Schnyder, 2009. "Horse, Cow, Sheep, or 'Thing-In-Itself'? The Cognitive Origins of Corporate Governance in Switzerland, Germany, and the US, 1910s-1930s," Working Papers wp383, Centre for Business Research, University of Cambridge.
    10. Theissen, Erik, 2003. "Organized equity markets in Germany," CFS Working Paper Series 2003/17, Center for Financial Studies (CFS).
    11. Crane, Dwight B. & Schaede, Ulrike, 2005. "Functional Change and Bank Strategy in German Corporate Governance," International Review of Law and Economics, Elsevier, vol. 25(4), pages 513-540, December.
    12. Daske, Stefan & Ehrhardt, Olaf, 2002. "Kursunterschiede und Renditen deutscher Stamm- und Vorzugsaktien," SFB 373 Discussion Papers 2002,5, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jacrfn:v:14:y:2001:i:3:p:35-48. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=1078-1196 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.