In the past decade, the financial markets have been hit twice by crisis, followed each time by recession (Enron, subprime). Three theories are presented to explain the dynamics of share prices: rational expectations, behavioral finance, and an institution-oriented theory. Institutional investors...

In the early twentieth century, a dense corporate network was created among the large German corporations ("Germany Inc."). About 16% of the members of this corporate network were of Jewish background. At the center of the network (big linkers) about 25% were Jewish. The percentage of Jews in...

Social capital is an unspecific resource that can improve the market opportunities of individuals and the chances of survival for organizations. In this historical study it will be shown that social capital was divided up among companies and managers during the early twentieth century very...