Gegenstand dieses Artikels ist die ungelöste Öffentliche-Guts-Problematik bei der Unternehmenskontrolle von Publikumsaktiengesellschaften.

Despite the crypto-market crash in the spring of 2022 and the collapse of FTX in November 2022, decentralised finance (DeFi) proponents are still predicting that DeFi may soon go mainstream. As well as the increasing involvement of regulated financial institutions in the DeFi area, the incipient...

Dieser Forschungsbericht untersucht die Auswirkungen der im Sommer 2015 eingeführten Befreiungsvorschriften des Kleinanlegerschutzgesetzes. Durch eine stärkere Regulierung soll das Kleinanlegerschutzgesetz für mehr Transparenz für Anlegerinnen und Anleger auf dem grauen Kapitalmarkt sorgen....

Eine der herausragenden Entwicklungen auf den internationalen Finanzmarkten in den letzten Jahren ist die Institutionalisierung, d. h. die zunehmende Delegation privater Ersparnisse an professionelle Kapitalanleger - den institutionellen Investoren. Darunter sind private...

One of the important consequences to be drawn from the course of the financial crisis up to now is the insight that more attention must be paid in the future to the factors of liquidity, liquidity management and liquidity protection. That holds true for the protection of the stability of an...

Companies' access to finance has a significant impact on their profitability and growth prospects. Without external financing, most firms are not able to invest, which is a prerequisite for economic growth. In contrast to the US, which has a capital market-based financial system, banks are the...

Limited access to finance is one of the main obstacles for firms located in the Western Balkans and hampers economic growth as well as the transmission of monetary policy. The aim of this paper is to undertake an in-depth analysis of access to finance constraints in this region, where countries...

This report is concerned with analysing, for eight EU Member States with lagging regions, the main structural reforms carried out over the past five to ten years, essentially those which are relevant for the European Structural and Investment Funds. Furthermore it provides an overview of the...

Die Digitalisierung ist der maßgebliche Treiber des industriellen Wandels. Daher ist Industrie 4.0 auch in aller Munde und erstreckt sich längst nicht mehr auf Industrieunternehmen. Moderne Technologien verändern Unternehmensstrukturen und ganze Branchen. Ihr Einsatz, wie Big Data,...

In recent years, business angels have invested in a few hundred Finnish firms annually. The target firms are mainly young and small: 75% of them employ fewer than 10 workers and are less than 8 years old. These firms are most likely to be found in the ICT and professional service industries and...