1. Introduction -- 2. Theory and Empirical Research -- 3. The German and UK Capital Markets -- 4. The Evolution of Ownership and Control in German IPOs -- 5. British and German IPOs - A Comparison -- App. Additional data on the industry-matched sample -- 6. Explaining the Evolution of Ownership -- App. Data on the industry-matched sample -- 7. Do German Firms have a Better Performance? -- 8. Conclusion and Policy Implications
Summary
Marc Goergen uses detailed company micro-data to examine the ownership and performance of each firm from the time of its flotation to six years later. He finds that the evolution of ownership depends on certain corporate characteristics and that differences in financial performance cannot be explained simply by differences in the concentration of ownership. The book sheds new light on the important issue of whether corporate ownership influences or is influenced by financial performance. The main findings of the book have important implications for public policy and the current public debate on corporate governance and the globalisation of financial markets. They are important for established financial markets and the transitional economies of Eastern and Central Europe as well as for international scholars interested in issues of corporate governance and the performance of firms
Bibliography
Includes bibliographical references (pages 167-173) and index
