Abstract
Germany has 46% of all Hidden Champions worldwide. The average revenue of the German Hidden Champions is €467 million. Their average age is 71 years, and they employ on average 2252 people. They are rather equally distributed throughout the country with certain concentration is the states of Baden-Wuerttemberg, Bavaria, and North Rhine-Westphalia. There are not many Hidden Champions in East Germany.
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Notes
- 1.
On the one hand, some companies do not report their market shares; on the other hand, companies with “impressive” market shares may be more likely to report them than companies with less strong positions.
- 2.
Revenue figures are available for about 90.8% of the German Hidden Champions, mostly for 2018/19, in some cases for other years. Smaller companies and partnerships are not required to publish their revenues.
- 3.
Employee figures are available for 93.2% of the Hidden Champions in the study, mostly for 2018/19, in some cases for other years.
- 4.
Not taking into account inflation, which was low in those years.
- 5.
Personal communication from Professor Nitin Nohria, Dean of Harvard Business School, April 3, 2019. See Chap. 8 for more details.
- 6.
In this case, the median is a valid measure to exclude the influence of some very old companies.
- 7.
GE Drops Out of the Dow after More than a Century, The Wall Street Journal, June 19, 2018.
References
Rammer, C., & Spielkamp, A. (2015). Hidden Champions—Driven by Innovation, Empirische Befunde auf Basis des Mannheimer Innovationspanels. Mannheim: ZEW.
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Simon, H. (2022). German Hidden Champions. In: Hidden Champions in the Chinese Century. Springer, Cham. https://doi.org/10.1007/978-3-030-92597-0_7
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DOI: https://doi.org/10.1007/978-3-030-92597-0_7
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