Mittelstandsfinanzierung Mit Mezzanine Capital Eine Theoretische Analyse Vor Dem Hintergrund Von Basel Ii
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Mittelstandsfinanzierung Mit Mezzanine Capital Eine Theoretische Analyse Vor Dem Hintergrund Von Basel Ii
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Author : Marcus Bröcker
language : de
Publisher: GRIN Verlag
Release Date : 2004-05-09
Mittelstandsfinanzierung Mit Mezzanine Capital Eine Theoretische Analyse Vor Dem Hintergrund Von Basel Ii written by Marcus Bröcker and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-05-09 with Business & Economics categories.
Diplomarbeit aus dem Jahr 2004 im Fachbereich BWL - Investition und Finanzierung, Note: 1,3, Westfälische Wilhelms-Universität Münster (Lehrstuhl für Betriebswirtschaftslehre insbesondere Finanzierung), Sprache: Deutsch, Abstract: Einleitung In Deutschland gehören 99,6% aller Unternehmen und damit 70% aller Beschäftigten dem Mittelstand an. Seit geraumer Zeit sind zunehmende Finanzierungsprobleme dieser Gruppe von Unternehmen Gegenstand der öffentlichen und politischen Diskussion. Einige der Diskussionsbeiträge vermitteln indes den Eindruck, der Grund für die Knappheit an Finanzierungsmitteln liege in der voraussichtlich mit Ende 2006 in Kraft tretenden Vereinbarung zur Eigenkapitalhinterlegung der Banken (Basel II). Basel II konfrontiere mittelständische Unternehmen mit ernsthaften finanziellen Problemen, da sie gegenüber großen Unternehmen hinsichtlich des erforderlichen Ratings benachteiligt seien. Diese Benachteiligung resultiere nicht zuletzt aus einer im Landes- und Größenvergleich unterdurchschnittlichen Ausstattung deutscher Mittelständler mit Eigenkapital. Als erstes sichtbares Zeichen der nahenden Veränderungen wird die zunehmende Zurückhaltung vieler Banken bei der Kreditvergabe an Mittelständler interpretiert, die für die betroffenen Unternehmen mit höheren Kreditzinsen oder einer Verweigerung von Krediten verbunden ist. Im Zuge dieser Diskussion rückt das sog. Mezzanine Capital als Finanzierungsalternative zunehmend ins Blickfeld mittelständischer Unternehmen. In zahlreichen praxisorientierten Veröffentlichungen wird das bisher hauptsächlich im Rahmen strukturierter Finanzierungen bzw. von Unternehmen mit Kapitalmarktzugang eingesetzte Mezzanine Capital als eine Finanzierungsform dargestellt, welche die Vorteile von Eigen- und Fremdkapital in sich vereint. Mezzanine ermöglicht danach Mittelständlern einen Ausweg aus ihrem Finanzierungsdilemma, da im Ratingprozess als wirtschaftliche Eigenkapital gewertet wird, ohne mit den Nachteilen externen Eigenkapitals in Form hoher Renditeforderungen und der Gewährung von Stimmrechten verbunden zu sein. Ziel dieser Arbeit ist es, über diese praktischen Argumente hinausgehende theoretische Erklärungsansätze für eine Vorteilhaftigkeit von Mezzanine Capital gegenüber reinem Eigen- und/oder Fremdkapital darzulegen und die Möglichkeiten und Grenzen dieser Ansätze zu analysieren. Im Mittelpunkt steht die Frage, ob Mezzanine Capital für deutsche mittelständische Unternehmen einen Beitrag zum Erreichen ihrer finanzwirtschaftlichen Ziele leisten kann, der den einer Finanzierung mit reinem Eigen- und/oder Fremdkapital übersteigt...
Mezzanine Kapital Alternative Finanzierungsformen F R Den Mittelstand Vor Dem Hintergrund Von Basel Ii
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Author : Ingrid Ermler
language : de
Publisher:
Release Date : 2006
Mezzanine Kapital Alternative Finanzierungsformen F R Den Mittelstand Vor Dem Hintergrund Von Basel Ii written by Ingrid Ermler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Handbook Of Research On Venture Capital
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Author : Hans Landstr”m
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Handbook Of Research On Venture Capital written by Hans Landstr”m and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
ÔThis exciting second volume of cutting-edge research on venture capital takes up where volume one leaves off, bringing greater depth to topics covered in the first volume (such as angel investing) and adding new topics and insights. It poses interesting questions such as Ð Is venture capital in crisis? Are new models of early investing needed? Ð and offers carefully researched answers. Landstršm and Mason provide insightful commentary and skillfully pinpoint the contributions of a talented set of researchers. Both scholars and practitioners of venture capital will want to read this book.Õ Ð Harry J. Sapienza, University of Minnesota, US ÔThe second edition of the Handbook of Research on Venture Capital provides an important guidepost for venture capital researchers. As Landstršm and Mason point out, the nature of venture capital has changed dramatically over the last ten years. The asset class as a whole has failed to return principal and the old model is under tremendous strain. The contributors nicely highlight many of these changes, especially how venture capital has scaled beyond the US. For those of us active in venture capital research, the chapters raise many interesting research questions that deserve further attention.Õ Ð Andrew Zacharakis, Babson College, US This Handbook charts the development of venture capital research in light of the global financial crisis, starting with an analysis of the current venture capital market and the changing nature of the business angel market. Looking at governance structures, the performance of venture capitalists in terms of investments, economic impact and human capital, and the geographical organization of business angels and venture capital global ÔhotspotsÕ, this book also analyses the current state of venture capital research and offers a roadmap for the future.
Going Public
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Author : Tim Jenkinson
language : en
Publisher: Oxford University Press, USA
Release Date : 2001
Going Public written by Tim Jenkinson and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
Going Public investigates why companies routinely underprice themselves as they try to list themselves on the stock exchange. They subsequently underperform over the long-term and, in Going Public, the authors explore these 2 phenomena in plain English.
Sport Facilities
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Author : Aurora Cuito
language : en
Publisher:
Release Date : 2005
Sport Facilities written by Aurora Cuito and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Recreation centers categories.
The buildings gathered in this book were all designed to suit the needs of one of the most preponderant activities in modern-day life : sports. As there are few things in life that involve so many millions of people and such massive budgets, it comes as little surprise that the promoters of these activities should commission renowned architects to design unique buildings that will stand out from the crowd - both in terms of their functionality and aesthetics. Our newfound dedication to our bodies and living a healthy lifestyle has resulted in the opening of a wide variety of centers, all of which strive to offer us the ideal place in which to exercise. Additionally, municipal sports centers have also evolved into veritable social centers, in which sports are just one of the multiple group activities that one can engage in. Finally, we should also point out the recent construction of large stadiums for housing the massive spectacles that most modern-day sporting activities have evolved into - the dramatic growth in size of competitions such as the Olympics or the World Cup has entailed the construction of versatile stadiums that are capable of seating numbers of spectators in the tens of thousands. The complexity of these structures, however, does not subtract in any way from their originality or the unique spaces that spring up around them.
Energy Transition
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Author : Jens Lowitzsch
language : en
Publisher: Springer
Release Date : 2019-01-09
Energy Transition written by Jens Lowitzsch and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-09 with Political Science categories.
Consumer (co-)ownership in renewable energy (RE) is essential to the overall success of Energy Transition. In June 2018, the European Union agreed on a corresponding enabling framework as part of a recast of the Renewable Energy Directive (RED II). The transposition of these comprehensive rules – in particular those on local RE communities – requires developing, implementing and rolling out business models that broaden the capital participation of consumers. The challenge is to include municipalities and/or commercial investors like SMEs and advance to economies of scale while retaining the benefits of individual consumer participation. This book is addressed to energy consumers in local communities, their municipalities and to the policy makers who represent them. Additionally, non-EU countries, in particular those where rural areas have limited access to energy, e.g. in Asia, Africa and Latin America, may be interested in the benefits of consumer ownership. While demand for energy in developing countries is growing, access to energy is crucial for improving the quality of life. The editor of this book presents a new model of consumer ownership in RE for both the EU and countries worldwide. Part One describes the rationale for consumer ownership in RE with regard to social, organizational, legal and financial conditions. Part Two discusses the issue of financing RE and introduces a new financing technique, the Consumer Stock Ownership Plan (CSOP), comparing it to traditional models. Part Three provides 18 country studies from Europe, North America, South America and Asia, organized so as to enable a cross-country comparison of policy approaches and feasibility. Policy recommendations are based on the results of this survey. Part Four summarizes, compares the best practice cases, presents a cost-benefit analysis of “prosumage” and against this background evaluates the impact on future policy.
The Globalization Of Venture Capital
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Author : Martin Haemmig
language : en
Publisher:
Release Date : 2003
The Globalization Of Venture Capital written by Martin Haemmig and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Globalization categories.
Deutsche Nationalbibliographie Und Bibliographie Der Im Ausland Erschienenen Deutschsprachigen Ver Ffentlichungen
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Author :
language : de
Publisher:
Release Date : 2006
Deutsche Nationalbibliographie Und Bibliographie Der Im Ausland Erschienenen Deutschsprachigen Ver Ffentlichungen written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with German literature categories.
Praxis Ii Physical Education Content And Design 5095 Exam Secrets
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Author : Praxis II Exam Secrets Test Prep
language : en
Publisher: Mometrix Media Llc
Release Date : 2014-03-31
Praxis Ii Physical Education Content And Design 5095 Exam Secrets written by Praxis II Exam Secrets Test Prep and has been published by Mometrix Media Llc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-31 with Study Aids categories.
***Includes Practice Test Questions*** Praxis II Physical Education: Content and Design (0095 and 5095) Exam Secrets helps you ace the Praxis II: Subject Assessments, without weeks and months of endless studying. Our comprehensive Praxis II Physical Education: Content and Design (0095 and 5095) Exam Secrets study guide is written by our exam experts, who painstakingly researched every topic and concept that you need to know to ace your test. Our original research reveals specific weaknesses that you can exploit to increase your exam score more than you've ever imagined. Praxis II Physical Education: Content and Design (0095 and 5095) Exam Secrets includes: The 5 Secret Keys to Praxis II Test Success: Time Is Your Greatest Enemy, Guessing is Not Guesswork, Practice Smarter, Not Harder, Prepare, Don't Procrastinate, Test Yourself; Introduction to the Praxis II Exam Series including: Praxis Assessment Explanation, Two Kinds of Praxis Assessments, Understanding the ETS; A comprehensive General Strategy review including: Make Predictions, Answer the Question, Benchmark, Valid Information, Avoid Fact Traps, Milk the Question, The Trap of Familiarity, Eliminate Answers, Tough Questions, Brainstorm, Read Carefully, Face Value, Prefixes, Hedge Phrases, Switchback Words, New Information, Time Management, Contextual Clues, Don't Panic, Pace Yourself, Answer Selection, Check Your Work, Beware of Directly Quoted Answers, Slang, Extreme Statements, Answer Choice Families; Along with a complete, in-depth study guide for your specific Praxis II Test, and much more...
Crisis Management In The Tourism Industry
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Author : Dirk Glaesser
language : en
Publisher: Routledge
Release Date : 2006-10-19
Crisis Management In The Tourism Industry written by Dirk Glaesser and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-10-19 with Business & Economics categories.
The tourism industry is arguably one of the most important sources of income and foreign exchange, and is growing rapidly. However, national and international crises have huge negative economic consequences. Crisis Management in the Tourism Industry aims to illustrate the theories and actions that can be taken to better understand consumer, economic and environmental reaction, in order for the businesses involved to be more prepared for such events. Now in its second edition, this text has been fully revised and extended to include recent events such as Bali, SARS and international terrorism, expanding sections such as: * Terrorism and criminal activities * Risk perceptions and the influencing variables * The stakeholder concepts * Analysis methods- visibility of advantages/disadvantages of methods * Marketing instruments and best practices Written by one of the world’s leading experts from the World Tourism Organisation, the book has global coverage, and presents international, up-to-date case studies and examples from countries such as the UK, Australia and USA. The book provides discussion of: * The influential effect of the mass media How crises effect the purchase decision process Destination branding/image and its manipulation Preventative crises management and strategies Crisis Management in the Tourism Industry is an essential guide to explaining how the tourism industry can prepare and succeed in the face of the effects of crises.
