We investigate the wealth effects of takeovers in the mining industry of the German Ruhr district between 1896 and 1913. We employ event study methodology and use a new data set that covers stock prices of joint-stock mining companies and information on share prices of Gewerkschaften, an...

The article investigates a sample of 180 technology licensing contracts closed by German chemical, pharmaceutical, and electrical engineering companies between 1880 and 1913. The empirical results suggest that strategic behaviour is relevant for the design of licensing contracts, whereas...

The allocation of intellectual property rights between firms and employed researchers causes a principal-agent problem between the two parties. We investigate the working contracts of researchers employed by German chemical and electrical engineering firms at the turn of the 20th century and...