With our studies and surveys we highlight current or fundamental issues of the capital markets. Our studies and surveys – published partly in co-operation with other parties – appear at irregular intervals.

Our surveys are mostly published in German language and can either be downloaded or ordered as printed versions.

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 respective index. Based on these calculations the study displays the benefits of employee shares, which are characterised by discounts on the market value or bonus shares, provided after a given vesting period by the employer. Furthermore, the study underlines the necessity to increase allowances regarding taxes and social contributions from currently EUR 360 to EUR 1,000 per year, as Deutsches Aktieninstitut already called for.

For the return triangle and the options to vary specific parameters please see: