Mergers during the first and second phase of globalization [Elektronische Ressource] : success, insider trading, and the role of regulation / submitted by Gerhard Kling

Mergers During the First and Second Phase of Globalization: Success, Insider Trading, and the Role of Regulation Inaugural Thesis To Obtain the Doctoral Degree of the Faculty of Economics Eberhard-Karls-Universität Tübingen Germany Submitted by Gerhard Kling Born in Munich 2004 II Dean: Professor Dr. rer. pol. Renate Hecker First Referee: Professor Dr. pub. oec. Jörg Baten Second Referee: Professor Dr. rer. pol. Werner Neus thDay of the Disputation: 28 May 2004 IIIGerhard Kling Mergers During the First and Second Phase of Globalization: Success, Insider Trading, and the Role of Regulation “I find it difficult to think of economists and economic historians as separateanimals. Their interests are fundamentally the same. The job of the economist isto explain how the economy works; the job of the economic historian is toexplain how it worked in the past.” A. K. Cairncross IVAcknowledgements First of all, I take the opportunity to thank my advisor Jörg Baten for his steady support during `periods of suffering and doom´ that are typical for a dissertation project. He also encouraged me to attend conferences and present my research to an international audience. Even more important, he gave me the freedom to develop my own thoughts, make my own mistakes, and gain experience.