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By: Sherry The content of this case  The internationalization of Daimler-Benz’s Ownership First (1-3) : the brief introduction Daimler-Benz announced it would seek a listing on the new York stock exchange which shows that Benz would accept the disclosure rules that many German companies thought it emphasize quick profits and short-term thinking. 1 The German practice Whenever product demand slackens and operating losses develop ,the companies tap their “hidden reserves” to offset the losses and show a modest profit. 2 Second(4,5) : the two factors why Daimler broke ranks 1. The company’s desire to raise capital to finance its international expansion . If raise all this capital from German market → increase its cost of capital Use the capital that flows through the NYSE → lower its cost of capital 3 2. The desire to broaden its ownership base Making its shares more accessible to the investors in the US → drive up the share price losses develop , Diversifying its ownership(30%-35%) base across countries → a global company 4 Third(6) : the effect  1. under German financial disclosure rules → a profit of ＄97 million under U.S. rules → a lost of ＄548 million 2. Daimler’s shares : ↑30% The Dow Jones stock market index：↑11% 5 Last (7): A plan Daimler continued its NYSE listing ,and planed to seek more equity market listings in different countries .The capital raised in a particular country or region will be used to finance investments in that region. 6