Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/57501
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dc.contributor.authorBurhop, Carstenen
dc.contributor.authorChambers, Daviden
dc.contributor.authorCheffins, Brianen
dc.date.accessioned2011-07-22-
dc.date.accessioned2012-04-24T11:05:21Z-
dc.date.available2012-04-24T11:05:21Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aMax Planck Institute for Research on Collective Goods |cBonnen
dc.relation.ispartofseries|aPreprints of the Max Planck Institute for Research on Collective Goods |x2011,15en
dc.subject.jelG32en
dc.subject.jelK22en
dc.subject.jelN23en
dc.subject.jelG18en
dc.subject.jelG38en
dc.subject.jelG14en
dc.subject.jelG24en
dc.subject.ddc330en
dc.subject.keywordregulationen
dc.subject.keywordfinancial historyen
dc.subject.keywordlaw and financeen
dc.subject.keywordinitial public offeringen
dc.subject.keywordinvestor protectionen
dc.subject.stwWertpapieremissionen
dc.subject.stwBörsenregulierungen
dc.subject.stwBörsenrechten
dc.subject.stwWertpapierbörseen
dc.subject.stwGeschichteen
dc.subject.stwDeutschland (bis 1945)en
dc.subject.stwGroßbritannienen
dc.titleIs regulation essential to stock market development? Going public in London and Berlin, 1900-1913-
dc.typeWorking Paperen
dc.identifier.ppn664674089en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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