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Das Vorsichtsprinzip bei Informationsasymmetrien zwischen Gläubigern

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  • Jochen Bigus

    (Universität Bern)

Abstract

Zusammenfassung Das Vorsichtsprinzip des handelsrechtlichen Jahresabschlusses diene — so die Befürworter — dem Erhalt der Haftungsmasse und damit dem Gläubigerschutz. Kaum beachtet hat die Literatur bisher, dass Gläubiger oft unterschiedlich gut informiert sind. Hausbanken sehen oftmals früher die drohende Insolvenz des Schuldners voraus als andere Gläubiger. Dieser Beitrag zeigt, dass die informierte Hausbank einen Kredit vorzeitig kündigen wird, wenn die (stillen) Reserven des Schuldners hinreichend hoch sind, d.h. das Vorsichtsprinzip hinreichend restriktiv ist. Eine Kündigung mag jedoch ineffizient sein, wenn sie Kosten impliziert, etwa Verwertungsverluste. Die Haftungsmasse der uniformierten, ungesicherten Gläubiger reduziert sich. Das Vorsichtsprinzip schützt somit die informierten Gläubiger, kann aber zum Nachteil der uniformierten Gläubiger gereichen. Zudem wird gezeigt, dass Vorsichtsprinzip und Kreditsicherheiten substitutiv wirken.

Suggested Citation

  • Jochen Bigus, 2007. "Das Vorsichtsprinzip bei Informationsasymmetrien zwischen Gläubigern," Schmalenbach Journal of Business Research, Springer, vol. 59(5), pages 567-587, August.
    • Handle: RePEc:spr:sjobre:v:59:y:2007:i:5:d:10.1007_bf03371713
    DOI: 10.1007/BF03371713
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    References listed on IDEAS

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    Keywords

    M41;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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