Wem gehören die großen Unternehmen? Restrukturierung des Eigentums während der Finanzkrise in Deutschland und den USA

Werner Nienhüser, David Peetz and Georgina Murray

WSI-Mitteilungen, 2016, vol. 69, issue 8, 584-594

Abstract: The ownership of large corporations constitutes social power. Therefore our article asks the question: Who are the owners of the 200 largest non-financial corporations in Germany and in the U.S.? Did ownership structure and concentration of capital change during the financial crisis? Our results for 2006/2007 and 2009/2010 show that financial investors such as BlackRock own a significant proportion of the stocks of the 200 large non-financial companies. BlackRock manages 5 % in Germany and 13 % in the U.S. Taking also the second largest asset manager (Capital Group) into account, then these two companies together control 11 % of the shares in Germany and 23 % in the U.S. In both countries the concentration of share ownership has increased. The large proportion of shares owned by finance capital has barely changed despite or because of the financial crisis.

Date: 2016
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DOI: 10.5771/0342-300X-2016-8-584

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