Germany's historical national accounts are controversially discussed in a series of recent papers by Fremdling and Stäglin (2004, 2005), Ritschl (2004) and Burhop and Wolff (2005). The growth of the German economy during the nineteenth century, the level of economic development reached in 1913...

The present paper proposes to employ a major shift in the legal and institutional environment to identify contractual incentives from the correlation of executive pay and firm performance. We use the reform of the German stock companies act in 1884 as such a major shift and estimate the...

We analyse the relation of firm performance and managerial turnover in 19th century German banking by probit estimation. This period covers a major reform of corporate governance. Before the reform performance and turnover were unrelated, whereas after the reform more successful managers left...

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...