Business & Economics Books:

Finance Capitalism and Germany's Rise to Industrial Power

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Hardback
$285.00
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Description

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.

Author Biography:

Caroline Fohlin is a Research Professor of Economics at Johns Hopkins University. She previously taught at the California Institute of Technology. Professor Fohlin is the author of the forthcoming book Financial System Design and Industrial Development: International Patterns in Historical Perspective, which was awarded the 1999 Japan-U.S. Center UFJ Bank Monographs in International Financial Research prize and which will be published by Cambridge University Press. Professor Fohlin's published research has appeared in publications such as the Journal of Finance, European Review of Economic History, Business History, Economic History Review, Explorations in Economic History, and Business and Economic History.
Release date NZ
January 29th, 2007
Audience
  • Professional & Vocational
Pages
406
Dimensions
152x229x27
ISBN-13
9780521810203
Product ID
2497817

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