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Zwangsausschluß von Minderheiten nach deutschem Aktienrecht: Erste empirische Befunde

Zwangsausschluß von Minderheiten nach deutschem Aktienrecht: Erste empirische Befunde

          
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About the Book

Inhaltsangabe: Zusammenfassung: Mit Wirkung zum 1. Januar 2002 ist das Gesetz zur Regelung von öffentlichen Angeboten zum Erwerb von Wertpapieren und von Unternehmensübernahmen (WpÜG) in Kraft getreten und mit ihm die Bestimmungen der §§ 327a ff AktG. Mit dieser Regelung ermöglicht der Gesetzgeber erstmals im deutschen Recht einer herrschenden Gesellschaft, die außenstehenden Streubesitzaktionäre zwangsweise aus ihrer Gesellschaft auszuschließen. Die neue Regelung stößt unter den Hauptaktionären deutscher Aktiengesellschaften auf regen Zuspruch: Allein im Jahre seiner Einführung ließen sie auf 79 Hauptversammlungen börsennotierter Aktiengesellschaften über einen Zwangsausschluß Beschluß fassen, auf Hauptversammlungen nicht börsennotierter Gesellschaften über rund 50 weitere. In diesen Zahlen spiegelt sich nicht zwingend die Qualität der gefundenen Regelung wider; offensichtlich ist sie aus Sicht der Hauptaktionäre jedoch attraktiv und für den deutschen Kapitalmarkt von wesentlicher Bedeutung. Ob die Regelung auch im Hinblick auf ihre ökonomische Wirkung als gelungen gelten darf, versucht diese Arbeit zu klären helfen. Sie analysiert zu diesem Zweck deskriptiv-statistisch sämtliche 79 Zwangsausschlüsse von Minderheitsaktionären, die im Jahr 2002 bei börsennotierten deutschen Aktiengesellschaften durchgeführt worden sind. Zuvor geht die Arbeit einleitend auf den aktuellen Zustand des deutschen Aktienmarkts ein, innerhalb dessen der Zwangsausschluß zur Anwendung kommt, sowie auf die Finanzierungssituation deutscher Unternehmen. Ferner befaßt sie sich näher mit dem Zusammenhang zwischen Minderheitenschutz und Finanzierungskraft des Kapitalmarkts - einem Problem, dessen Relevanz einem zwangsweisen Ausschluß inhärent ist. An diese Einleitung schließt sich Kapitel 2 an, in dem ein Zwangsausschluß von Minderheiten generell sowie die deutsche Regel im besonderen aus dem Blickwinkel der Erkenntnisse der ökonomischen Theorie betrachtet werden. Es gibt Antworten auf die F


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Product Details
  • ISBN-13: 9783838687988
  • Publisher: Diplom.de
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 15 mm
  • Weight: 344 gr
  • ISBN-10: 3838687981
  • Publisher Date: 06 Jun 2005
  • Height: 210 mm
  • No of Pages: 260
  • Series Title: German
  • Sub Title: Erste empirische Befunde
  • Width: 148 mm


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Zwangsausschluß von Minderheiten nach deutschem Aktienrecht: Erste empirische Befunde
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