£54.32

Deutscher Universitätsverlag Aktienrückkäufe in Deutschland: Renditeeffekte und tatsächliche Volumina (Empirische Finanzmarktforschung/Empirical Finance)

6030330

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Description

Udo Seifert zeigt, vor welchem Hintergrund und in welchem Umfang Unternehmen in Deutschland lange Zeit Aktienrückkäufe durchgeführt haben und aktuell durchführen. In gut strukturierter Form betrachtet der Autor sowohl die Renditeeffekte bei Aktienrückkaufankündigungen als auch die Gründe für unterschiedliche Rückkaufvolumina. From the Back Cover Aktienrückkäufe waren in Deutschland vor 1897 praktisch verboten, danach bis 1931 erlaubt. Ihr erheblicher Umfang bei Banken hat das Ausmaß der Börsenkrise im Jahr 1931 möglicherweise stark beeinflusst. Von 1931 bis 1998 unterlagen Aktienrückkäufe in Deutschland starken Einschränkungen, erfolgten aber trotzdem in einem moderaten Ausmaß. Eine Vereinfachung von Aktienrückkäufen in Deutschland trat erst mit dem Inkrafttreten des KonTraG im Mai 1998 ein. Udo Seifert zeigt, vor welchem Hintergrund und in welchem Umfang Unternehmen in Deutschland lange Zeit Aktienrückkäufe durchgeführt haben und aktuell durchführen. In Anbetracht einer steigenden Liberalisierung dieses Finanzierungsinstruments werden die historischen Wurzeln sowie die aktuellen institutionellen Grundlagen unter Berücksichtigung unterschiedlicher Bilanzierungsgrundsätze erörtert. In gut strukturierter Form betrachtet der Autor sowohl die Renditeeffekte bei Aktienrückkaufankündigungen als auch die Gründe für unterschiedliche Rückkaufvolumina. Die diskutierten theoretischen Erklärungsansätze basieren dabei auf einem Vergleich der deutschen mit den US-amerikanischen Rahmenbedingungen. About the Author Dr. Udo Seifert ist wissenschaftlicher Mitarbeiter von Prof. Dr. Richard Stehle am Institut für Bank- Börsen- und Versicherungswesen der Humboldt Universität zu Berlin.

Product Specifications

Model
6030330
Format
Paperback
Domain
Amazon UK
Release Date
24 November 2006
Listed Since
10 February 2011

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