IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

„Home, sweet home“ – Die Entwicklung des Handelsvolumens deutscher Aktien im Ausland

Listed author(s):
  • Michael H. Grote


  • Florian Kube
  • Michael Küchen

We analyze the extent to which shares of German enterprises are traded at foreign stock exchanges over time. We find that – after a considerable initial trading activity – the flowback effects to Germany gain in importance. Secondary quotations at foreign stock exchanges should broaden the shareholder basis and, thus, decrease capital cost and ultimately increase shareholder value. This presupposes a sufficiently large trading volume in foreign stock markets. Measured by this yardstick quotations of German stocks at foreign stock markets have not been successful. This does not apply to all firms, however: Shares of smaller and growing enterprises with higher proportions of foreign sales trade to a larger extent in foreign stock markets.

(This abstract was borrowed from another version of this item.)

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by Department of Finance, Goethe University Frankfurt am Main in its series Working Paper Series: Finance and Accounting with number 172.

in new window

Date of creation: 2008
Handle: RePEc:fra:franaf:172
Contact details of provider: Postal:
Senckenberganlage 31, 60054 Frankfurt

Phone: 0049-69-798-28269
Fax: 0049-69-798-28272
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:fra:franaf:172. 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: (Reinhard H. Schmidt)

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.