Finanzinnovationen der Beteiligungsfinanzierung

As in Breuer/Hartmann/Kleefisch (2003) this approach tries to explain the use of certainfinancial innovations by their fulfillment of different corporate financing functions. In contrast, wedissect equity instead of debt innovations. First, we identify numerous basic components of financialinstruments. Afterwards, the issue of selected equity securities is discussed with respect to possiblefinancing functions. The comparison of our results with actual market success of these instrumentsleads us to the conclusion that some of them may be disregarded by practice.