Similar Search Results

The evolution of aggregate stock ownership

Rydqvist, Kristian; Spizman, Joshua; Strebulaev, Ilya - Center for Financial Studies - 2011

Since World War II, direct stock ownership by households has largely been replaced by indirect stock ownership by financial institutions. We argue that tax policy is the driving force. Using long time-series from eight countries, we show that the fraction of household ownership decreases with...

Persistent link: https://www.econbiz.de/10010958665

German banks - a declining industry?

Hackethal, Andreas - Center for Financial Studies - 2003

This paper is a draft for the chapter German banks and banking structure of the forthcoming book The German financial system edited by J.P. Krahnen and R.H. Schmidt (Oxford University Press). As such, the paper starts out with a description of past and present structural features of the German...

Persistent link: https://www.econbiz.de/10010986396

The role of accounting in the German financial system

Leuz, Christian; Wüstemann, Jens - Center for Financial Studies - 2003

main elements of the Germany system and a survey of extant empirical accounting research generally support these arguments. …

Persistent link: https://www.econbiz.de/10010986429

Initial public offerings and venture capital in Germany

Franzke, Stefanie A.; Grohs, Stefanie; Laux, Christian - Center for Financial Studies - 2003

We present a survey on the role of initial public offerings (IPOs) and venture capital (VC) in Germany after the Second …. The level of IPO underpricing in Germany, in contrast, has not been fundamentally different from that in other countries …. The picture for venture capital financing is not much different from that provided by IPOs in Germany. For a long time …

Persistent link: https://www.econbiz.de/10010958532

Test of the German resilience

Bornhorst, Fabian; Mody, Ashoka - Center for Financial Studies - 2012

From its early post-war catch-up phase, Germany's formidable export engine has been its consistent driver of growth …. But Germany has almost equally consistently run current account surpluses. Exports have powered the dynamic phases and … economy and important labor market reforms, Germany's ability to act as global locomotive has been limited. With increasing …

Persistent link: https://www.econbiz.de/10010958648

Corporate Governance in Germany: An Economic Perspective

Schmidt, Reinhard H. - Center for Financial Studies - 2003

A financial system can only perform its function of channelling funds from savers to investors if it offers sufficient assurance to the providers of the funds that they will reap the rewards which have been promised to them. To the extent that this assurance is not provided by contracts alone,...

Persistent link: https://www.econbiz.de/10010958676

Why EMU is irrelevant for the German economy

Posen, Adam - Center for Financial Studies - 1998

change either for the better in Standort Deutschland or for the worse in the German price stability. There is ample evidence …

Persistent link: https://www.econbiz.de/10010958722

Corporate Governance in Germany: An Economic Perspective

Schmidt, Reinhard H. - Center for Financial Studies - 2003

Persistent link: https://www.econbiz.de/10005138838

German banks – a declining industry?

Hackethal, Andreas - Center for Financial Studies - 2003

This paper is a draft for the chapter "German banks and banking structure" of the forthcoming book "The German financial system" edited by J.P. Krahnen and R.H. Schmidt (Oxford University Press). As such, the paper starts out with a description of past and present structural features of the...

Persistent link: https://www.econbiz.de/10005176450

The Role of Accounting in the German Financial System

Leuz, Christian; Wüstemann, Jens - Center for Financial Studies - 2003

main elements of the Germany system and a survey of extant empirical accounting research generally support these arguments. …

Persistent link: https://www.econbiz.de/10005120790