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Eigenkapitalausstattung und Investitionstätigkeit

Author

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  • Schwetzler Bernhard

    (Dr. rer. pol., Wiss. Assistent an der Universität in Regensburg)

Abstract

Der drastische Rückgang der Eigenkapitalausstattung (genauer: der Eigenkapitalquote) bundesdeutscher Unternehmen bis Mitte der 80er Jahre hat breite wissenschaftliche Diskussionen ausgelöst. Insbesondere wurde versucht, zwischen diesem empirischen Phänomen und demjenigen des gleichzeitigen Rückganges der Investitionstätigkeit eine theoretische Verbindungherzustellen. Der folgende Beitraghat das Ziel, ausgehend von finanzierungs theoretischen Überlegungen zur Relevanz der Kapitalstruktur, die Zusammenhänge zwischen Unternehmens-Eigenkapitalquote, absoluter Höhe der Eigenmittel der Unternehmenseigentümer und realisiertem Investitionsvolumen aufzuzeigen. Er kommt zu dem Ergebnis, daß die Ursache für den Rückgang der Investitionen in diesem Zeitraum nicht in der Entwicklung der Eigenkapitalausstattung, sondern vielmehr in derjenigen der Rendite- und Risikoeigenschaften von Investitionen zu sehen ist.

Suggested Citation

  • Schwetzler Bernhard, 1989. "Eigenkapitalausstattung und Investitionstätigkeit," Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) / Journal of Banking Law and Banking (JBB), RWS Verlag, vol. 1(4), pages 188-201, December.
    • Handle: RePEc:bpj:zfbrbw:v:1:y:1989:i:4:p:188-201:n:6
    DOI: 10.15375/zbb-1989-0406
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    Cited by:

    1. Reint Gropp, 2002. "Local Taxes and Capital Structure Choice," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 9(1), pages 51-71, January.

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