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Ökonomische Auswirkungen der EG-Insider-Regulierung in Deutschland

Author

Listed:
  • Ott Claus

    (Dr.jur., Universitätsprofessor in Hamburg)

  • Schäfer Hans-Bernd

    (Dr. disc, oec., Universitätsprofessor in Hamburg)

Abstract

Die Abhandlung befaßt sich mit den Auswirkungen der EG-Richtlinie zur Koordinierung der Vorschriften betreffend Insider-Geschäfte vom 13. November 1989 auf die Entwicklung des Insider-Rechts in der Europäischen Gemeinschaft und insbesondere in Deutschland. Anknüpfend an das bisherige Regelungssystem in Deutschland und die Diskussion um die praktische Relevanz und Schädlichkeit von Insider- Geschäften, wird eine ökonomische Analyse von Insider-Geschäften unternommen. Diese ergibt, daß Insider-Geschäfte zu Ineffizienz führen, weil sie falsche Anreize für Anteilsbesitzer und Manager vermitteln. Die Effizienz der Regeln der EG-Richtlinie und mögliche Verbesserungen werden abschließend erörtert

Suggested Citation

  • Ott Claus & Schäfer Hans-Bernd, 1991. "Ökonomische Auswirkungen der EG-Insider-Regulierung in Deutschland," Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) / Journal of Banking Law and Banking (JBB), RWS Verlag, vol. 3(4), pages 226-241, December.
    • Handle: RePEc:bpj:zfbrbw:v:3:y:1991:i:4:p:226-241:n:4
    DOI: 10.15375/zbb-1991-0404
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