Empirical Research on the German Capital Market

1999 ◽  
Keyword(s):  
Empirical Research ◽  
Capital Market ◽  
German Capital

The Risk of Reverse Convertible Bonds: German Capital Market Law and Investor Protection

2002 ◽  
Vol 3 (12) ◽  
Author(s):  
Sung-Kee Kim ◽  
Peer Zumbansen
Keyword(s):  
Capital Market ◽  
National Policy ◽  
Federal Court ◽  
Convertible Bonds ◽  
Financial Instruments ◽  
Investment Funds ◽  
Legal Rules ◽  
German Capital ◽  
Federal Court Of Justice ◽  
Investment And Financing

In times of a continuously expanding proliferation of investment and financing possibilities in the hands of banks, investment funds and individual capital investors, particular attention should be paid to the effects that new financial instruments are likely to have not only on concrete financing and investing modes but also on the further development of legal rules in this field. As the German capital market has been considered unable - at least until the widely marketed Deutsche Telekom IPO - to get rid of its persisting prejudice of being structurally lagging behind other countries’ systems, the legal treatment of emerging financial instruments deserves greatest attention. The rocket science of new financial instruments challenges law's aim to rightly assess the real quality of these instruments and to strike an adequate balance between the interests involved against a national policy background and EU demands. While the past few years have been a time of great legislative activity in the field of company and capital market law in Germany, only a closer look at court decisions reveals the true pressure resulting from a fast moving capital market on traditional legal perceptions. The so-called Aktienanleihe-Decision by the Federal Court of Justice, [FCJ] (Bundesgerichtshof - BGH) of 12 March 2002 marks an important step in the ongoing process of Germany's developing capital market law.

Die effektive Durchsetzung kapitalmarktrechtlicher Ansprüche mittels Gruppenklage

2020 ◽  
Author(s):  
Daniel Blagojevic
Keyword(s):  
Collective Action ◽  
Group Action ◽  
Legal System ◽  
Capital Market ◽  
Class Action ◽  
Eu Law ◽  
Class Actions ◽  
German Capital ◽  
System P ◽  
German Constitution

The dissertation examines how collective legal redress in the German capital market law must be structured in order to ensure the effective enforcement of the law by capital market investors. The dissertation analyses the provisions of the German Code of Civil Procedure (ZPO) and specific forms of collective action (group action (Verbandsklage), representative action (Musterklage) and class action (Gruppenklage)). Against the background of the German Constitution and relevant EU law, the author not only discusses various types of class actions both in Germany and certain foreign jurisdictions, but also presents his own effective model for class actions under the German legal system.

The Role of Trust in the Informal Investor's Investment Decision: An Exploratory Analysis

1997 ◽  
Vol 21 (4) ◽  
pp. 63-81 ◽  
Author(s):  
Richard T. Harrison ◽  
Mark R. Dibben ◽  
Colin M. Mason
Keyword(s):  
Venture Capital ◽  
Empirical Research ◽  
Capital Market ◽  
Investment Decision ◽  
Theoretical Models ◽  
Policy Implications ◽  
Investment Opportunity ◽  
Informal Investment ◽  
Informal Venture Capital

Research into the informal venture capital market is characterized by a focus on empirical research into the characteristics of the market and on the development and analysis of the public policy Implications of this empirical research. There has, however, been little systematic application or development of theoretical models and frameworks appropriate to the informal venture capital market. Nor, with a few recent exceptions, has the empirical analysis of the market moved on to examine issues surrounding the process of Informal investment rather than the outcomes of that process. In this paper we seek to rectify both of these deficiencies. First, we develop a framework for the elucidation of the concepts of swift trust and swift cooperation, and in so doing formalize and expand on the generally passing references to trust in the entrepreneurship and venture capital literatures. Second, we derive from this an operationable framework for analyzing trust and cooperation, which we apply to the informal Investment decision-making process. Using verbal protocol analysis of Investor reactions In real time to one particular investment opportunity, we empirically examine the role of trust and cooperation in the investors’ Initial screening of potential investment opportunities, and the investors’ assessment of the intermediary responsible for providing the initial referral of the Investment opportunity.

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