The Neuer Markt as an institution of creation and destruction

  title={The Neuer Markt as an institution of creation and destruction},
  author={David Audretsch and Erik E. Lehmann},
  journal={International Entrepreneurship and Management Journal},
The market for publicly traded equity is the heart of a modern capitalist system. In particular, the market for newly listed firms is in turn a bellwether for the public equity market because the entry gives firms expanded access to capital, allowing them to emerge and grow. On the other hand, stock markets also serve as an institution to reallocate productive resources from non-surviving to surviving firms. We describe the Neuer Markt—a special segment of the Frankfurt Stock Exchange in… CONTINUE READING