TY  - UNPD
A1  - Theissen, Erik
T1  - Organized equity markets in Germany
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2003,17
N2  - The German financial system is the archetype of a bank-dominated system. This implies that organized equity markets are, in some sense, underdeveloped. The purpose of this paper is, first, to describe the German equity markets and, second, to analyze whether it is underdeveloped in any meaningful sense. In the descriptive part we provide a detailed account of the microstructure of the German equity markets, putting special emphasis on recent developments. When comparing the German market with its peers, we find that it is indeed underdeveloped with respect to market capitalization. In terms of liquidity, on the other hand, the German equity market is not generally underdeveloped. It does, however, lack a liquid market for block trading. Klassifikation: G 51 . Revised version forthcoming in "The German Financial System", edited by Jan P. Krahnen and Reinhard H. Schmidt, Oxford University Press.
T3  - CFS working paper series - 2003, 17 
KW  - market size
KW  - liquidity
KW  - floor versus screen trading
KW  - Kapitalmarkt
KW  - Aktienmarkt
KW  - Deutschland
Y1  - 2003
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/4470
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-10227
IS  - This version March 2003
ER  -