Grenz, Frankfurt, for a lot of assistance and fruitful advice. Moreover, the McKinsey library and reseach service in Düsseldorf provided me with the opportunity to gain access to valuable sources of information. The experiment of writing this paper in English significantly increased the number of potential readers. Nevertheless, it contained the hazard of reduced clarity since my native language is German. In this context, I wish to express my sincere thanks to Herbert John Raths, Hamburg, who

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... nvested a lot of time and effort to increase the quality of this thesis by helpful advice and stimulating discussions. Last but not least, I must express the gratitude I feel towards my parents who made my studies possible and who supported me over the years. As a little sign of respect this thesis is dedicated to them.