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Notwendigkeit der Ausschüttungssperre des § 268 Abs. 8 HGB: Eine empirische Untersuchung der Einzelabschlüsse der DAX 30 Unternehmen

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  • Rohleder, Stephan
  • Rogler, Silvia
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    Abstract

    Mit dem Bilanzrechtsmodernisierungsgesetz (BilMoG) hat der deutsche Gesetzgeber eine weitreichende Änderung des deutschen Handelsrechts vorgenommen. Zielsetzung ist die Stärkung der Informationsfunktion des handelsrechtlichen Jahresabschlusses. Um dieses Ziel zu erreichen, ist nunmehr die Aktivierung unsicherer bzw. nicht realisierter Posten in der Bilanz erlaubt. Dennoch ist die Ausschüttungsbemessung weiterhin eine zentrale Funktion der Handelsbilanz. Um dieser Funktion gerecht werden zu können, bleibt der Gläubigerschutzgedanke und damit vor allem das Vorsichtsprinzip ein grundlegender Bestandteil des deutschen Handelsrechts. Folglich wurde die Aktivierung dieser Posten mit einer Ausschüttungssperre belegt. Die Zielsetzung des vorliegenden Beitrags ist es zu untersuchen, inwieweit diese Sperre im Normalfall notwendig ist, um dem Vorsichtsprinzip Rechnung zu tragen. Die handelsrechtlichen Einzelabschlüsse der DAX 30 Unternehmen werden dahingehend untersucht. -- With the Bilanzrechtsmodernisierungsgesetz (BilMoG), the German legislator extensively revised the German accounting law. The purpose is to strengthen the information function of the German GAAP. To reach this objective, the accounting of uncertain or unrealized positions is now permitted. Nevertheless, determination of dividend payouts persists a fundamental function of the balance sheet. Hence the protection of creditors and the prudence principle remain fundamental to the German GAAP. Thus, accounting of these uncertain or unrealized positions results in a restriction of dividend payouts. The objective of this paper is to investigate, whether this restriction is necessary to fulfill the principle of prudence. For this purpose the annual financial statements of the DAX 30 companies will be investigated.

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    Paper provided by TU Bergakademie Freiberg, Faculty of Economics and Business Administration in its series Freiberg Working Papers with number 2012,03.

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    Date of creation: 2012
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    Handle: RePEc:zbw:tufwps:201203

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    Keywords: Ausschüttungssperre; Gewinnverwendung; Vorsichtsprinzip; dividend payout restriction; profit distribution; prudence principle;

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