Betting on Hitler—The Value of Political Connections in Nazi Germany

This paper examines the value of connections between German industry and the Nazi movement in early 1933. Drawing on previously unused contemporary sources about management and supervisory board composition and stock returns, we find that one out of seven firms, and a large proportion of the biggest...

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Bibliographic Details
Published in:The Quarterly journal of economics 2008-02, Vol.123 (1), p.101-137
Main Authors: Ferguson, Thomas, Voth, Hans-Joachim
Format: Article
Language:English
Subjects:
Business government relations
Business structures
Chancellors
Dividends
Market capitalization
Nationalist movements
Nazi era
Nazism
Political activism
Political parties
Rates of return
Socialism
Socialist parties
Stock markets
Stock prices
Stocks
Studies
Voting
Yield
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