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Home > Catalogue > Finance Capitalism and Germany's Rise to Industrial Power
Finance Capitalism and Germany's Rise to Industrial Power
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Details

  • Page extent: 406 pages
  • Size: 228 x 152 mm
  • Weight: 0.77 kg

Library of Congress

  • Dewey number: 332.10943
  • Dewey version: 22
  • LC Classification: HG3048 .F655 2007
  • LC Subject headings:
    • Banks and banking--Germany
    • Universal banks--Germany
    • Industrialization--Germany

Library of Congress Record

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Hardback

 (ISBN-13: 9780521810203)

DOI: 10.2277/0521810205

Manufactured on demand: supplied direct from the printer

 (Stock level updated: 17:01 GMT, 27 August 2015)

£69.99

Based on a wide array of data collected by the author, this book uses clear theoretically motivated economic analysis to explain the structure, performance, and influence of universal banks and securities markets on firms during industrialisation. 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 favour rapid industrial expansion.

• Major reinterpretation of German financial and economic history • Offers highly accessible narrative but based on sophisticated econometric analysis • Author is internationally known for her work on the subject

Contents

1. Introduction; 2. The development of the German corporate finance system until 1913; 3. Theoretical perspectives on banking and financial system structure; 4. The development and impact of universal banking; 5. Corporate governance relationships: patterns and explanations; 6. Firm financing and performance; 7. Securities markets; 8. Upheaval and recovery; 9. Conclusion.

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