The Berlin stock exchange and the geography of German stock markets in 1913

被引：13

作者：

Burhop, Carsten ^{[1
,2
]}

Lehmann-Hasemeyer, Sibylle ^{[3
,4
]}

机构：

[1] Univ Vienna, Inst Wirtschafts & Sozialgeschichte, Vienna, Austria

[2] Max Planck Inst Res Collect Goods, Bonn, Germany

[3] Univ Hohenheim, Inst Wirtschafts & Sozialgeschichte Agrargeschich, Stuttgart, Germany

[4] CEPR, London, England

来源：

EUROPEAN REVIEW OF ECONOMIC HISTORY | 2016年 / 20卷

关键词：

CORPORATE GOVERNANCE; UNIVERSAL BANKING; HOME BIAS; DETERMINANTS; INFORMATION; FAMILIARITY; COMPETITION; LOCATION; FIRMS; LAW;

D O I：

10.1093/ereh/hew010

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Multiple stock exchanges have been in operation in Germany since the nineteenth century. We provide new data on the number of listed firms, the market value and industry characteristics for the benchmark year 1913 to understand the geography of stock market listings. We find that large firms tended to be listed on the Berlin stock exchange while the regional stock exchanges were important hosts for small- and medium-sized firms. We show that the geographic distance between the stock exchange and corporate headquarters is negatively related to listing decisions.

引用

页码：429 / 451

页数：23

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