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Licensed Unlicensed Requires Authentication Published by Akademie Verlag June 21, 2018

Die Aktionärsstruktur der Deutschen Bank, 1870-1929

Angela Bol


I examine the ownership of Deutsche Bank between 1870 and 1930 by using shareholder lists of the general meetings from the archive in Berlin. I show that Deutsche Bank had more than 200 shareholders and was mainly widely held. The bank had no single dominant shareholder owning more than 25 percent of shares. However, attendance at general meetings was low and shareholders remained mostly anonymous. As a consequence, the general meetings of Deutsche Bank were dominated by banks and inside shareholders. Banks – holding shares predominantly as custodians of other investors – played an important role in affecting the outcome of the general meeting.

JEL Classification: G 1; G 2; G 3; G 30; G 32
Published Online: 2018-06-21
Published in Print: 2018-05-25

© 2018 Walter de Gruyter GmbH, Berlin/Boston

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