While in the US stock-based incentives are commonly used since the 50s of the last century, in Germany they were invented only some ten years ago. Even in 1996 firms faced considerable regulatory difficulties when willing to grant such incentives. In the meantime the legal environment has...

We empirically study the use of value-based management systems in listed German firms and examine implications for firms' stock market performance. Using a novel, hand-collected data set covering 1,083 firm years from 2002 to 2008, we find that value-based management systems become increasingly...

Der deutsche Aktienmarkt sah sich in den letzten 15 Jahren substantiellen Veränderungen gegenüber, welche unter anderem in eine zunehmende Internationalisierung und deutlich erhöhten Streubesitz mündeten. In der vorliegenden Arbeit untersuchen wir, inwieweit dies die aus klassischen...

This paper investigates the wealth effects of private equity (PE) investor purchases of shares in German quoted companies. It is the first study to analyse these effects for the German market, which is particularly interesting due to its distinct characteristics with regard to the ownership...

Vor dem Hintergrund einer verstärkten Tätigkeit von spezialisierten Investmentbanken bietet dieses erste Grundlagenwerk auf dem deutschen Markt eine aktuelle, anwendungsorientierte und fundierte Darstellung von Methoden und Instrumenten des Investment Banking. Die Funktionsweisen der...