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Das "Going Public" deutscher Aktiengesellschaften: Institutionelle Regelungen und ökonomische Analyse des Phänomens des "Underpricing"(German)

Das "Going Public" deutscher Aktiengesellschaften: Institutionelle Regelungen und ökonomische Analyse des Phänomens des "Underpricing"(German)

          
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About the Book

Inhaltsangabe: Einleitung: Untersuchungsgegenstand dieser Arbeit ist zum einen die Publikumsöffnung deutscher Aktiengesellschaften. Hierzu werden die Motive zum Gang an die Börse aufgezeigt sowie der Begriff der Börse selbst, die Formalitäten des Börsenganges und die hierzulande vorhandenen Marktformen erklärt. Aus der geschichtlichen Entwicklung heraus wird ebenso erläutert, warum es zu dieser Form der Finanzierung kam, und welche Aspekte dahinter stehen könnten. Dazu wird die Position der Banken als weiterer Untersuchungspunkt erörtert. Dieser Untersuchungspunkt ist im wesentlichen das Konsortialgeschäft der Banken und ihre begleitende Rolle beim Börsengang. Hierzu wird das Konsortialgeschäft der Banken eingehend erklärt, sowie alle wesentlichen Merkmale des Konsortialbegriffs und dessen Ausgestaltungsformen. Die geltenden gesetzlichen und organisatorischen Rahmenbedingungen werden eingehend erklärt und tabellarisch dargestellt, ebenso wie Motive, Ziele und Aufgaben der Konsortien. Dabei werden Aspekte aus Sicht der Banken aufgezeigt, die gleichwohl über den Erfolg oder Misserfolg von Neuemissionen entscheidend sind. Der dritte Punkt der Untersuchung richtet sich auf das wesentlichste Merkmal von Neuemissionen, nämlich das Kursverhalten, bzw. die Kursfestsetzung vor der Erstnotierung. Hier wird das Phänomen, dass als Underpricing bekannt ist, analytisch untersucht. Dazu werden Erklärungsansätze zu den Renditen detailliert erläutert und es wird ferner die Frage untersucht, ob sich aus den Renditen am Emissionstag Vorhersagen bezüglich der Renditen im Sekundärmarkt, sprich den Zeichnungsgewinnen ableiten lassen. Es werden in diesem Zusammenhang verschiedene Annahmen geprüft, zum einen wie es dazu kommt, zum anderen ob auf potentielles Kapital verzichtet wird, oder gar andere Marktmechanismen greifen, und falls ja, welche Erklärungen es aus fachlicher Sicht dazu gibt. Inhaltsverzeichnis: Inhaltsverzeichnis: AbbildungsverzeichnisIII AbkürzungsverzeichnisIV Sy


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Product Details
  • ISBN-13: 9783838623603
  • Publisher: Diplom.de
  • Publisher Imprint: Diplom.de
  • Height: 210 mm
  • No of Pages: 100
  • Series Title: German
  • Sub Title: Institutionelle Regelungen und ökonomische Analyse des Phänomens des "Underpricing"
  • Width: 148 mm
  • ISBN-10: 3838623606
  • Publisher Date: 16 May 2000
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 6 mm
  • Weight: 140 gr


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Das "Going Public" deutscher Aktiengesellschaften: Institutionelle Regelungen und ökonomische Analyse des Phänomens des "Underpricing"(German)
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