Transaction Costs for German Institutional Investors: Empirical Evidence from Stock Markets

• Author: Marc Becker,Lutz Johanning,Arndt Völkle
• DOI: http://doi.org/10.1111/jacf.12151
• Date: 01 December 2015
• Published date: 01 December 2015

In This Issue: German Capital Markets and Corporate Governance

Law and Corporate Governance: Germany within Europe 8Klaus J. Hopt, Max Planck Institute for Comparative and

International Private Law, Hamburg, Germany

Corporate Governance in Germany: Recent Developments and Challenges 16 Marc Steffen Rapp, Philipps Universität Marburg,

and Christian Strenger, HHL Leipzig Graduate

School of Management

The Survival of the Weakest: Flourishing Family Firms in Germany 35 Julian Franks, London Business School, Colin Mayer,

Saïd Business School, University of Oxford,

Hannes F. Wagner, Bocconi University

The Bug At Volkswagen: Lessons in Co-Determination, Ownership, and

Board Structure

27 Charles M. Elson, University of Delaware, Craig K. Ferrere,

Harvard Law School, and Nicholas J. Goossen,

University of Delaware

Corporate Finance in Germany: Structural Adjustments and Current Developments 44 Wolfgang Bessler, Justus-Liebig University Giessen and

Wolfgang Drobetz, Hamburg University

The Cross-Listing and Cross-Trading of German Companies in the U.S. and

of Foreign Companies in Germany

58 Wolfgang Bessler, Justus-Liebig University Giessen,

Fred R. Kaen, University of New Hampshire, and

Colin Schneck, Justus-Liebig University Giessen

Stock Liquidity and the Cost of Equity Capital in Global Markets 68 Yakov Amihud, New York University, Allaudeen Hameed,

National University of Singapore, Wenjin Kang, Renmin

University of China, and Huiping Zhang, JCU Singapore

Cash Equity Markets in Germany 75 Peter Gomber, Goethe University

Bund for Glory, or It’s a Long Way to Tip a Market 81 Craig Pirrong, University of Houston

Derivatives and Repurchase Markets in Germany 88 Thomas Book, CEO, Eurex Clearing

Transaction Costs for German Institutional Investors:

Empirical Evidence from Stock Markets

96 Lutz Johanning, WHU—Otto Beisheim School of Management,

and Marc Becker and Arndt Völkle, XTP GmbH

International Evidence on Value Creation in Private Equity Transactions 105 Benjamin Puche, Reiner Braun, and Ann-Kristin Achleitner,

Technische Universität München, Center for Entrepreneurial

and Financial Studies

VOLUME 27 | NUMBER 4 | FALL 2015

APPLIED CORPORATE FINANCE

Journal of