Providers of Finance and Corporate Financial Reporting in Belgium and the Netherlands in the Second Half of the 19th Century

This paper describes and discusses the causes of differences in international corporate financial reporting (for example: stock markets, size, industry, capital structure, cross border listings, ownership structure), corporate financial reporting and their relationship in Belgium and the Netherlands in the second half of the 19th century. Capital markets significantly differ with respect to the number of companies listed and foreign securities. Ownership structure seems to be closely linked to board membership in both countries. Families and private persons seem to be important shareholder groups, whilst in Belgium credit institutions and investment trusts also own large proportions of shares outstanding. Capital structure and size appeared to be equally distributed among companies in the same industries.荷兰.