Year: 2011
Author: Andres, Christian, Betzer, André, Bongard, Inga van den
Credit and Capital Markets – Kredit und Kapital, Vol. 44 (2011), Iss. 2 : pp. 185–216
Abstract
The Demise of Germany, Inc.
This article looks into the development of cross-ownership of capital and of management networks in the capital market on the basis of the 150 biggest listed companies in the period 1998/2006. Owing to various institutional changes in the period under review (especially the adoption of the 2000 Tax Cut Act (Steuersenkungsgesetz), we have derived the conclusion that the traditional management structures of Germany Inc. have dissolved. This conclusion is based on the empirical results set out below: We have observed (1) a decline in capital investments inside of the network, (2) the dissolution of the complex capital ownership structures of financial services providers, (3) a thinning out of management networks based on supervisory council positions.
Journal Article Details
Publisher Name: Global Science Press
Language: German
DOI: https://doi.org/10.3790/kuk.44.2.185
Credit and Capital Markets – Kredit und Kapital, Vol. 44 (2011), Iss. 2 : pp. 185–216
Published online: 2011-04
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 32
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