Studies

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Foreign listings of BioNTech, CureVac & Co. (in German)

The study "Foreign Listings of BioNTech, CureVac & Co. - Recommendations for policymakers for more IPOs in Germany", in cooperation with RITTERSHAUS Rechtsanwälte, answers the question why German high-growth companies go public abroad.

The...

Audit Quality Indicators & Beyond – A survey of auditors, audit committee members and chief financial officers on the audit committee's assessment of audit quality (in German)

A reliable audit is in the interest of all stakeholders. The Wirecard case has once again brought the discussion on audit quality into sharper focus. Due to the importance of the topic, we have investigated the question of how the management...

Corporate finance and sustainability. What ESG means in practice for finance managers (in German)

The market for green financing is booming. Many companies are already using esg instruments for their investments in environmentally and climate-friendly technologies.Together with the Stuttgart stock exchange, we asked financial...

Stock buybacks are an important instrument of equity management (in German)

The acquisition of own stock reduces a company's equity capital. At first glance, this makes little sense, as it seems to contradict the purpose of equity financing - raising capital. That this is not the case is proven by the special issue...

Behaviour and preferences of German shareholders 2018 (in German)

How do shareholders inform themselves? What are their preferences regarding dividend payments? Do they regard shares as instruments of wealth building? These and other related questions are analysed by this study which was prepared by Prof....

Use Shares and make the Pension System fit for the Future - what Germany can learn from other Countries (in German)

The comparing study focuses on the experiences of countries like Australia, Sweden, the United Kingdom and the US as regards the use of shares in the pension system. It is the aim of the study to outline what Germany can learn from these...

ESG from the perspective of institutional investors – what listed companies should know

Institutional investors increasingly integrate environmental, social and governance (ESG) into the assessment of business and strategy of portfolio companies. This trend is documented in this survey conducted by Deutsches Aktieninstitut and...

More Shareholders in Germany - Overcoming Missunderstandings and Desinterest (in German)

Misunderstandings, bad feelings and a significant level of desinterest prevent Germans from investing money into shares. Even historically low interest rates have not increased their interest in equity investments. This is the core result of...

The EU Market Abuse Regulation after Two Years: Survey Signals Need to Action (in German)

Listed companies observe increasing bureaucratic burden as well as decreasing legal certainty from the EU Market Abuse Regulation. In particular, regarding the obligation to publish inside information companies call for guidance. This is the...

Return Triangle for Employee Shares: Benefits for Employees, Companies and the Society (in German)

The return triangle for employee shares developed by experts of the hkp/// group calculates returns of, by way of examples, employee share ownership programs of the indices DAX, MDAX, TecDAX und SDAX, and for companies belonging to the...

Ready for Takeover?

Together with White [&] Case, Deutsches Aktieninstitut has released a benchmark study to provide information on how German companies position themselves as bidders or as potential targets for a public takeover. Companies from DAX, MDAX,...

Going and Being Public - the View of Small and Mid Seized Companies (in German)

Deutsches Aktieninstitut jointly published the results of a survey among small and mid seized listed companies and capital market experts regarding the going and being public. Apart from the necessity to invest more in shares via the pension...

Guideline for the Implementation of Employee Share Schemes (in German)

Together with EY Deutsches Aktieninstitut released a guideline explaining the steps for a successful implementation of employee share schemes (planning, design, compliance, communication and administration). These steps are illustrated by...

The Impact of MiFID II Rules on the Availabily of Research: Information for Issuers (in German)

After the entry into force of the evaluated Markets for Financial Instruments Directive (MiFID II/MiFIR) rules for the availability of research will change. Which research services are in the scope of the new rules and how stock-listed...

Second Position Paper: Exit Negotiations Between the European Union and the United Kingdom: Minimise Brexit Risks and Strengthen the European Capital Market (now available in English)

The current position paper of Deutsches Aktieninstitut on the exit negotiations between the European Union and the United Kingdom complements the first position paper from February 2017 and covers further relevant topics, e.g. clearing,...

First Position Paper: Exit Negotiations between the European Union and the United Kingdom: Minimise Brexit Risks and Strengthen the European Capital Market

In its position paper “Exit negotiations between the European Union and the United Kingdom: Minimise Brexit Risks and Strengthen the European Capital Market”, Deutsches Aktieninstitut has identified the essential issues with relevance for...

Equity Investment in Foundations – Break Down Reservations (in German)

Allocating assets partly into equities can help foundations to better serve their charitable objectives – not only at the currently low interest rates. This is a central result of a study of Deutsches Aktieninstitut and UBS Deutschland AG...

Equity Culture Begins in the Minds of People - what Germans Feel about Share Investments (in German)

The Germans still show a number of misunderunstandings about and prejudices against shares that form an obstacle for a deeper equity culture. However, the potential for improvement is higher than the number of shareholders in Germany appears...

As a result of regulation banks refrain more and more from providing investment advice in shares - a survey (in German)

As a result of the increasing regulation more and more banks refrain from providing investment advice for shares. This is the main outcome of a survey conducted among German credit institutions. Due to strict regulatory requirements 22 per...

Behavior and preferences of German shareholders (in German)

The study provides the results of asurvey among morethan 400,000 retail investors of Deutsche Post DHL. Answers to the following questions are given: What sources of information do retail investors use? Do they preferdividends or...

Employee shareholdership: A survey among German listed companies (in German)

A study conducted by Deutsches Aktieninstitut and Ernst [&] Young (EY) shows that many stock listed companies already provide a share based compensation or intend to implement one. Nevertheless, the potential for employee shareholdership in...

Enforcement of Financial Information 2013 (in German)

This joint study of Deutsches Aktieninstitut and PricewaterhouseCooopers summarises the experience of listed companies with the enforcement of accounts by the German enforcer, Deutsche Prüfstelle für Rechnungslegung (Financial Reporting...

Study on the financial transaction tax: private households and non-financial companies will bear billions of additional costs (executive summary) (in German)

The financial transaction tax (FTT) would sum up to total costs of 5.0 to 7.3 billion Euros per year for private investors and companies of the real economy. This is the key result of an in-debth impact study for the German economy conducted...