Berücksichtigung von Börsenkursen bei der Ermittlung von Barabfindungen im Rahmen von aktienrechtlichen Strukturmaßnahmen

Klaus Henselmann, Claudia Schrenker and Nadine Winkler

No 2010-9, Working Papers in Accounting Valuation Auditing from Friedrich-Alexander University Erlangen-Nuremberg, Chair of Accounting and Auditing

Abstract: Due to judicial decisions the stock market prices are deemed to be the lower value limit in determining the compensations within structural measures according to German stock corporation law (e.g. squeeze-out of minority stockholders). By applying other valuation methods, in particular the income approach, a higher value than the stock market price could be relevant to fix the amount of compensation. The paper analyzes expert reports on determining the adequate compensation. The study is supposed to provide an insight into the valuation practice in the recent past.

Keywords: Barabfindung; Börsenkurs; Beherrschungs- und Gewinnabführungsvertrag; Aktienrecht; Strukturmaßnahmen; Ertragswert; Rechtsprechung; Compensation; Stock Market Price; Squeeze-out; Control and Profit and Loss Transfer Agreement; German Stock Corporation Law; Income Approach; Judicature (search for similar items in EconPapers)
JEL-codes: G34 K22 K41 M42 M48 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:fauacc:20109

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