La dissolution du cœur de la D eutschland AG

Christopher Lantenois

Revue d'économie financière, 2011, vol. N° 104, issue 4, 91-106

Abstract: The aim of this paper is to study to what extent the ?heart? of Deutschland AG ? defined as the set of cross-shareholdings and cross-mandates between the major german financial institutions ? has been quickly eroded. Then, we analyze the impact on the bank/industry model. We find that large financial institutions have abandoned their traditional role of Hausbank, selling their industrial holdings, deserting supervisory boards and shareholders? meetings. After presenting the DB strategic mutation, we empirically quantify the destabilization of the ?heart? of Deutschland AG. Finally, we consider the implications on the role of banks in the governance of the industry. Classification JEL: G32, G34, G38, L14.

JEL-codes: G32 G34 G38 L14 (search for similar items in EconPapers)
Date: 2011
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