A comprehensive account of the many facets of Germany's financial system, this book explains and assesses the status of the system as the world's prototype bank-based financial system at the beginning of the twenty-first century. Covering corporate governance, equity markets, debt markets, investment banking, as well as accounting, regulation, and competition, each chapter of this innovative reference book addresses the myths that surround Germany's financial system, and offers invaluable explanation and insight ÍNDICE:Part I: Introduction and Overview 1 Jan Pieter Krahnen and Reinhard H. Schmidt: The Purpose and Structure of the Book 2 Reinhard H. Schmidt and Marcel Tyrell: What Constitutes a Financial System in General and the German Financial System in Particular? Part II: Financial Sectors and Corporate Finance 3 Andreas Hackethal: German Banks and Banking Structure 4 Raimond Maurer: Instititutional Investors in Germany: Insurance Companies and Investment Funds 5 Erik Theissen: Organized Equity Markets 6 Andreas Worms: Monetary Policy Transmission and the Financial System in Germany 7 Ralf Elsas and Jan Pieter Krahnen: Universal Banks and Relationships with Firms 8 Stefanie Franzke, Stefanie Grohs, and Christian Laux: Initial Public Offerings and Venture Capital in Germany 9 Frank A. Schimd and Mark Wahrenburg: Mergers and Acquisitions in Germany: Social Setting and Regulatory Framework Part III: Regulation and Corporate Governance 10 Karl-Hermann Fischer and Christian Pfeil: Regulation and Competition in German Banking 11 Oliver Rieckers and Gerald Spindler: Corporate Governance: Legal Aspects 12 Reinhard H. Schmidt: Corporate Governance in Germany: An Economic Perspective 13 Eric Nowak: Investor Protection and Capital Market Regulation in Germany 14 Christian Luez and Jens Wüstemann: The Role of Accounting in the German Financial System Part IV: Perspectives 15 Jan Pieter Krahnen and Reinhard H. Schmidt: Taking Stock and Looking Ahead: The German Financial Sys