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dc.contributor.authorBurhop, Carstenen_US
dc.contributor.authorChambers, Daviden_US
dc.contributor.authorCheffins, Brianen_US
dc.date.accessioned2011-07-22en_US
dc.date.accessioned2012-04-24T11:05:21Z-
dc.date.available2012-04-24T11:05:21Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/57501-
dc.description.abstractThis study of initial public offerings (IPOs) carried out on the Berlin and London stock exchanges between 1900 and 1913 casts doubt on the received law and finance wisdom that legally mandated investor protection is pivotal to the development of capital markets. IPOs that resulted in official quotations on the London Stock Exchange performed as well as Berlin IPOs despite the Berlin market being more extensively regulated than the laissez faire London market. Moreover, the IPO failure rate on these two stock markets was lower than it was with better regulated US IPOs later in the 20th century.en_US
dc.language.isoengen_US
dc.publisherMax Planck Inst. for Research on Collective Goods Bonnen_US
dc.relation.ispartofseriesPreprints of the Max Planck Institute for Research on Collective Goods 2011,15en_US
dc.subject.jelG32en_US
dc.subject.jelK22en_US
dc.subject.jelN23en_US
dc.subject.jelG18en_US
dc.subject.jelG38en_US
dc.subject.jelG14en_US
dc.subject.jelG24en_US
dc.subject.ddc330en_US
dc.subject.keywordregulationen_US
dc.subject.keywordfinancial historyen_US
dc.subject.keywordlaw and financeen_US
dc.subject.keywordinitial public offeringen_US
dc.subject.keywordinvestor protectionen_US
dc.subject.stwWertpapieremissionen_US
dc.subject.stwBörsenregulierungen_US
dc.subject.stwBörsenrechten_US
dc.subject.stwWertpapierbörseen_US
dc.subject.stwGeschichteen_US
dc.subject.stwDeutschland (bis 1945)en_US
dc.subject.stwGroßbritannienen_US
dc.titleIs regulation essential to stock market development? Going public in London and Berlin, 1900-1913en_US
dc.typeWorking Paperen_US
dc.identifier.ppn664674089en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Preprints of the Max Planck Institute for Research on Collective Goods

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