Die Treuhandidee steht allgemein für ein juristisches Konstrukt des Eigentums, das dem Treuhänder nach außen die volle Rechtsstellung eines Eigentümers verleiht, ihm im Innenverhältnis zum Treugeber jedoch mehr oder weniger starker Beschränkung unterwirft. In (Ost-)Deutschland erlebte...

Vor dem Hintergrund der für die Kreditinstitute voraussichtlich zum 1.11.2007 anzuwendenden europäischen Richtlinie über Märkte in Finanzinstrumenten sowie ihrer entsprechenden Durchführungsbestimmungen stellt sich die Frage, welche Anforderungen für die Anlageberatung der Kreditinstitute...

The paper provides a comprehensive overview of the gradual evolution of the supervisory policy adopted by the Basle Committee for the regulatory treatment of asset securitisation. We carefully highlight the pathology of the new 'securitisation framework' to facilitate a general understanding of...

Under ex ante access regulation entrants often claim that access fees are excessive. I show that this is only the case if further entry is admitted. If the entrant is protected from further entry it would agree with the incumbent upon a strictly positive access fee which may exceed the efficient...

States and their representatives, national governments, play a key role in national telecommunication markets. As lawmakers, they determine the playing field of the agents in the markets and the decision powers of national regulators. Simultaneously, they are involved in appointing presidential...

The interplay of infrastructure supply and demand is of central interest in line with Web 2.0. As the role of customers turns from a service users' role to an information providers' role, the traffic on existing lines increases and, simultaneously, customers' demand for high-quality...

In the last few years, many of the world's largest financial exchanges have converted from mutual, not-for-profit organizations to publicly-traded, for-profit firms. In most cases, these exchanges have substantial responsibilities with respect to enforcing various regulations that protect...

Competitive tendering of local bus services in Germany has received increased attention. Employing Seemingly Unrelated Regression analyses, we observe that prices have regionally varying determinants; for example, while prices throughout most of the federal state of Hesse increase over time,...

Telecommunications investment has been identified as one with a strong potential to spur economic growth and create employment. Investments in telecommunications infrastructure could not only provide a short-term boost to the economy, but also lay the groundwork for long-term improved growth and...

In a two-stage model insurance companies first decide upon risk classification and then compete in prices. I show that the observed heterogeneous behavior of similar firms is compatible with rational behavior. On the deregulated German insurance market individual application of classification...