IDEAS home Printed from https://ideas.repec.org/a/bpj/jbwige/v59y2018i1p77-103n4.html
   My bibliography  Save this article

Börsenzulassungsstellen, Reichsregierung und die (Selbst-)Regulierung der Mehrstimmrechtsaktie, 1919-1937

Author

Listed:
  • Selgert Felix

    (Universität Bonn, Institut für Geschichtswissenschaft, Abteilung für Verfassungs-, Sozial- und Wirtschaftsgeschichte (VSWG), Konviktstraße 11, D-53113, Bonn, Germany)

Abstract

The German system of corporate governance changed considerably after the end of the Great War. This change was, among other things, marked by the rise of shares with multiple voting rights, often concentrated in the hands of incumbent business leaders. The development was publicly criticized by the promoters of a more equal corporate constitution and led the Imperial government as well as stock exchanges to consider reform. The article traces this debate based on source material from the Bundesarchiv and the Geheimes Staatsarchiv Preußischer Kulturbesitz. In doing so, I find that, contrary to John Coffee’s claim, public regulation followed the practice of private regulation until the late 1920s but that the latter was dismissed as a role model during the Great Depression. The quantitative evidence furthermore shows that public as well as private actors achieved their regulatory targets. Yet, these targets did not include the full removal of shares with multiple voting rights.

Suggested Citation

  • Selgert Felix, 2018. "Börsenzulassungsstellen, Reichsregierung und die (Selbst-)Regulierung der Mehrstimmrechtsaktie, 1919-1937," Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook, De Gruyter, vol. 59(1), pages 77-103, May.
    • Handle: RePEc:bpj:jbwige:v:59:y:2018:i:1:p:77-103:n:4
    DOI: 10.1515/jbwg-2018-0004
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/jbwg-2018-0004
    Download Restriction: no
    File URL: https://libkey.io/10.1515/jbwg-2018-0004?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Corporate governance; multiple voting rights; regulation; stock exchange; Mehrstimmrechte; Regulierung; Börsenzulassung;
    All these keywords.

    JEL classification:

    • G - Financial Economics
    • G - Financial Economics
    • G - Financial Economics
    • N - Economic History
    • N - Economic History

    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:bpj:jbwige:v:59:y:2018:i:1:p:77-103:n:4. See general information about how to correct material in RePEc.

    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 bibliographic 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.