독일제국의 종합금융기업 드레스트너뱅크(Dresdner Bank): 지역에서 제국으로 ‘겸영은행’으로의 길, 1872~1910 = German Empire’s Comprehensive Financial Company Dresdner Bank: The Path from the Region to the Empire to Become a “Universal Bank”

다국어 초록 (Multilingual Abstract)

This paper studies and analyzes the background, crisis response, business policy and performance of the German Dresdner Bank in 1850-1904. Dresdner Bank was founded locally, but was a financial institution that succeeded in expanding its field of activity in the center of Germany and across the country.
In June 1867, the customs union and the so-called “freedom of business” served as an important foundation for the development of Saxony’s business activities. As a result, Saxony was one of the most industrialized regions in Germany economically, which was a major basis for business and finance to grow.
There are three points to note in the development of Dresdner Bank. First, this bank was under the universal banking system at the time. This is a financial system that has various areas of business in addition to the bank’s own corporate loan business. Secondly, Dresdner Bank was a regional bank that started its activities with roots in the Saxony region, but successfully advanced into the center of the German Empire, namely Berlin and other regions of Germany and the world. Third, it is an active and aggressive response, strategy and business execution to the rapidly changing economy and the crisis of the bank's key personnel.
However, it was not without problems. Financial activities through political relations were frustrated, as in the case of Hiberna, and also left a mark on reputation. Participation in corporate management was also a business area that had to be given up for Dresdner Bank at the time. For the sake of the bank’s profit, the systematic absorption of available local funds and lending to large corporations outside the region did not correspond to the local sentiment at the time. In particular, it was true that expansion through aggressive mergers and acquisitions left a negative impact on the sound corporate image.
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