A new version of this entry is available:
Loading...
ResearchPaper
2018
The persistence of ownership inequality – investors on the Germanstock exchanges, 1869-1945
The persistence of ownership inequality – investors on the Germanstock exchanges, 1869-1945
Abstract (English)
We study the ownership structure of joint-stock firms for the period of 1869 to 1945 based on a unique hand-collected data set. The data covers a selection of 785 general meetings of 276 firms, including details of more than 10,000 investors. We show that after the hyperinflation of 1923, when shares became cheaper, the ownership share among lower social classes rose significantly. Moreover, with the rise of women rights after 1919, the number of shares owned by women also increased significantly. However, despite these shifts, the majority of shares remained in the hands of institutional investors and investors from the upper class, who mainly constituted and controlled the general meetings. Thus, despite the increased participation of women and the lower social classes, a stark inequality of opportunities persisted.
File is subject to an embargo until
This is a correction to:
A correction to this entry is available:
This is a new version of:
Notes
Publication license
Publication series
Hohenheim discussion papers in business, economics and social sciences; 2018,20
Published in
Faculty
Faculty of Business, Economics and Social Sciences
Institute
Institute of Economics
Examination date
Supervisor
Edition / version
Citation
Identification
DOI
ISSN
ISBN
Language
English
Publisher
Publisher place
Classification (DDC)
330 Economics
Original object
Free keywords
Standardized keywords (GND)
Sustainable Development Goals
BibTeX
@techreport{Neumayer2018,
url = {https://hohpublica.uni-hohenheim.de/handle/123456789/6305},
author = {Neumayer, Andreas and Lehmann-Hasemeyer, Sibylle},
title = {The persistence of ownership inequality – investors on the Germanstock exchanges, 1869-1945},
year = {2018},
school = {Universität Hohenheim},
series = {Hohenheim discussion papers in business, economics and social sciences},
}