Ownership of publicly listed German companies has undergone significant changes in recent years. The aim of this report is to document these trends since 2007 and analyze the extent to which firms that compete in the same product market are owned by the same investors, which is known as common...

Die Eigentümerstrukturen börsennotierter deutscher Unternehmen haben sich in den letzten Jahren deutlich verändert. Von besonderem Interesse ist dabei das Phänomen der gemeinsamen Eigentümerstrukturen, das international mit dem Begriff "Common Ownership" bezeichnet wird. Dabei werden...

We study first-mover advantages in the hedge fund industry by clustering hedge funds based on the type of assets and instruments they trade in, sector and investment focus, and fund details. We find that early entry in a cluster is associated with higher excess returns, longer survival, higher...