Advanced Search
MyIDEAS: Login to save this paper or follow this series

Risikokapital in Deutschland

Contents:

Author Info

  • Albach, Horst
  • Köster, Dieter
Registered author(s):

    Abstract

    In der Studie wird der deutsche Risikokapitalmarkt analysiert. Die Analyse geht von der These aus, daß durch eine Verbesserung der Finanzstruktur von Unternehmen positive Effekte für den Arbeitsmarkt zu erwarten sind. Finanzierungsprobleme sind häufig Ursache für das Scheitern insbesondere junger Technologieunternehmen, aber der Verfall der Renditen führt auch bei etablierten Unternehmen zu einer verringerten Ausstattung mit Eigenkapital und damit zu einer Erhöhung des Unternehmensrisikos. Die Studie weist auf die Probleme hin, welche bisher eine effiziente Aufnahme und Anlage von Risikokapital verhindern. Neben den steuerlichen Nachteilen gibt es eine Reihe von Problemen, welche sich auf der Angebots- wie auf der Nachfrageseite des Marktes ergeben. Für den Zugang von mittelständischen Unternehmen zum Kapitalmarkt wird die Schaffung eines Spezialmarktes für die Bereitstellung von Risikokapital für junge Unternehmen in der Expansionsphase vorgeschlagen. Die Untersuchung schließt mit einer Übersicht zur Situation des deutschen Risikokapitalmarktes. -- This paper analyzes the German venture capital market on the assumption that an improvement of the financial structure of enterprises will have a positive effect on the labor market. Financing problems are often respnsible for the failure of - especially young - technology enterprises, however, a decline in earnings decreases equity capitalization and so increases the business risk to established enterprises. The paper points to problems hindering efficient borrowing and investment of venture capital. Next to tax disadvantages there are several problems located on the supply and demand side of the market. For an access of small and medium-sized firms to the capital market the creation of a special market is suggested, which would make venture capital available to young enterprises at the growth stage. The paper concludes with an overview of the actual German venture capital market.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://econstor.eu/bitstream/10419/51175/1/241109213.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by Social Science Research Center Berlin (WZB) in its series Discussion Papers, Research Unit: Market Dynamics with number FS IV 97-17.

    as in new window
    Length:
    Date of creation: 1997
    Date of revision:
    Handle: RePEc:zbw:wzbmdy:fsiv9717

    Contact details of provider:
    Postal: Reichpietschufer 50, 10785 Berlin, Germany
    Phone: ++49 - 30 - 25491 - 0
    Fax: ++49 - 30 - 25491 - 684
    Email:
    Web page: http://www.wzb.eu/
    More information through EDIRC

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:zbw:wzbmdy:fsiv9717. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.