IPOs of German companies in the USA The number of IPOs of German companies in the USA has been steadily increasing for several years. Against this background, we will analyse why German companies prefer a listing on the US stock exchange to a listing on the German stock exchange. Firstly, the process of an IPO will be described in detail. The two stock exchange locations (USA and Germany) will then be compared. Subsequently, the factors mentioned in the literature for the choice of stock exchange location are to be presented and applied to the two stock exchange locations. Which factors can be decisive for the choice of the US stock exchange location?
Method: theoretical |
Sustainable finance - a critical review Sustainability and environmental protection have not only become the focus of society since the "Fridays for Future" movement. A trend towards sustainability, which is subsumed under the term "sustainable finance", has also been emerging in the financial sector for some time. This bachelor's thesis will examine the following questions in particular: What exactly does "sustainable finance" mean? Who offers sustainable financial products? Which sustainable financial products exist? What are the main similarities and differences compared to non-sustainable financial products? Method: theoretical |
Green (climate) bonds versus traditional bonds In September 2020, the German government issued the first "green" federal bond - with great success. Demand exceeded supply many times over. Investors have been utilising the opportunity to make a targeted contribution to environmental protection through green bonds for years. But how do green bonds differ from traditional bonds? What criteria are used to define "green", for example, and what is the risk-return structure of green bonds compared to conventional corporate or government bonds? Method: theoretical, descriptive |
State ownership - the state as shareholder In recent decades, many governments around the world have acquired stakes in privately managed companies or taken them over in part or in full. The aim of this bachelor thesis is to analyse the effects of state ownership or takeover on various aspects of company performance (in particular financial performance, efficiency, innovation and governance structures) with the help of a well-founded literature analysis. The thesis concludes with a critical evaluation. Method: theoretical, descriptive |
Early warning indicators - an inventory Banking and financial crises have a variety of causes and far-reaching effects. A series of early warning indicators are intended to send warning signals and provide indications of future market changes. The bachelor thesis aims to answer the following questions in particular: What is the need for the installation of early warning indicators to protect the banking system and the real economy? Which early warning indicators have been developed in recent years? Do the indicators react early enough, are they precise and reliable enough? Method: theoretical |
Microfinance institutions - a critical overview Microfinance" refers to the granting of small loans by microfinance institutions to very poor people without collateral. The financial support enables these people to pursue entrepreneurial projects that generate additional income and thus help them to better provide for themselves and their families. Grameen Bank in Bangladesh, founded in 1983 by Muhammad Yunus, was the first microfinance institution in the world. Over time, many microfinance institutions have emerged that have followed the Grameen Bank model. This bachelor's thesis will first analyse the idea of "microfinance". The market for microfinance will then be presented. It will also critically analyse how the microfinance sector has developed over time. Have these institutions possibly undergone a transformation into a traditional bank? Method: theoretical |
Crowdfunding in the banking industry What synergies (forms of cooperation) exist between crowdfunding and the traditional financial business of banks? Firstly, the theoretical foundations of crowdfunding and the traditional financial business of banks should be presented. An overview of the respective markets in Germany will also be provided. Subsequently, the existing links between crowdfunding types and platforms and the banking industry will be discussed. In particular, the cooperation models and various forms of co-financing that can be observed in Germany will be discussed. These will be presented in detail and critically evaluated. Method: theoretical |
The "Too Big to Fail" and "Too Connected to Fail" doctrine The "too big to fail" and "too connected to fail" doctrines postulate that large and highly interconnected banks, whose insolvencies can have serious negative effects on the entire banking market and the real economy, must be protected from failure. Both doctrines are not free from criticism. In this bachelor thesis, both doctrines will be analysed in detail and critically discussed. Possible alternatives will also be presented. Method: theoretical |
Investor sentiment and the influence on share returns Investor sentiment and its influence on share returns is a much-discussed topic in the literature. The aim is to work out the various explanatory approaches and relevant research literature and to present in a structured manner what influence investors' "sentiment" (mood) actually has on stock returns and thus on the capital markets. Method: theoretical |
Digital central bank currencies worldwide - a comparison of opportunities and risks More and more central banks are breaking new ground and developing a digital central bank currency. The Bahamas already introduced the sand dollar in 2020, and the European Central Bank is also working on the digital euro. Depending on the country, different reasons may be important for an introduction. The bachelor's thesis will discuss the opportunities and risks of a digital central bank currency and how these differ in different countries. Method: theoretical |
Special purpose acquisition companies (SPACs) - opportunities and risks "Special Purpose Acquisition Companies (SPACs) are empty corporate shells that are created for the sole purpose of buying up a private company and then listing it on the stock exchange via the SPAC ("IPO through the back door").
Firstly, the causes for the emergence of SPACs will be analysed. The study will provide a comprehensive overview of the organisation and structure of SPACs and show how the volume and value of these corporate shells have developed to date. It will then analyse how and why investors invest in SPACs as a stock market product and what opportunities and risks they should expect. At the same time, the advantages and disadvantages of SPACs for those private companies that go public with the help of SPACs will also be analysed. Method: theoretical |
Securitisation of loans - a current stocktaking In a securitisation, a bundle of receivables is converted into securities and placed on the capital market in tranches with varying degrees of risk. Securitising banks use this for refinancing, for capital relief or as part of credit risk management. This paper will begin by outlining the motives of securitising banks. Subsequently, the development of the market and the regulation of securitisations can be analysed. Method: theoretical |
Methods of corporate financing: Initial Coin Offering compared to venture capital and crowdinvesting The aim of this paper is to comprehensively compare three selected methods of corporate financing: Initial Coin Offering (ICO), venture capital and crowdinvesting. Firstly, the theoretical foundations of the three forms of financing mentioned are to be presented. In this context, a market overview of each should also be provided. Subsequently, a comprehensive critical comparison (advantages and disadvantages, opportunities and risks) of the three forms of financing is to be made with the help of existing literature. Finally, with reference to this analysis, the questions of whether and how ICOs can establish themselves as a form of financing and how the legal regulation of ICOs should be organised will be briefly addressed. Method: theoretical |
Banking risks and financial market stability: A system comparison between conventional and Islamic banks In this thesis, the main differences between Islamic banks and conventional banks will be analysed. In particular, the risks within the two systems and their impact on financial market stability will be analysed. Method: theoretical |
Exotic options: An analysis of non-standardised derivatives Exotic options are financial derivatives that differ from standardised options due to their special characteristics. The characteristics and structures of selected exotic options, such as barrier options or Asian options, are to be presented in this paper. The valuation methods of exotic options will be analysed and differentiated from standard models such as the Black-Scholes model. Furthermore, the opportunities and risks of exotic options and their application in practice will be analysed. Method: theoretical |
CO2 certificates - a critical review ESG criteria are increasingly taking centre stage in the investment decisions of private and institutional investors. This thesis examines the central role of CO2 certificates in the context of climate change and efforts to reduce greenhouse gas emissions. The thesis provides a comprehensive overview of the fundamentals of these certificates, including their purpose, functioning and impact on environmental policy and economic systems. It examines the mechanisms of carbon trading at the international level and analyses their impact on the economy, industry and the environment. In addition, the thesis includes a critical evaluation of these certificates by highlighting potential advantages and disadvantages, effectiveness, social impacts and any challenges or weaknesses associated with their application. By combining theoretical background knowledge and empirical findings, the thesis provides a well-founded insight into the complex topic of CO2 certificates and enables a reflective discussion on their importance in the fight against climate change. Method: theoretical |
Technology in financial services - opportunities and risks This thesis examines the forward-looking impact that technology is having on the financial sector. It analyses the increasing integration of technology, such as artificial intelligence, blockchain, big data and automated processes, into traditional financial services. The thesis explores digitalisation in banking, fintech innovation, regulation and compliance, risk management and cybersecurity through the adoption and application of these novel technologies. It also examines challenges, opportunities and potential future developments to provide a comprehensive understanding of how technological innovation is transforming and shaping the financial services industry. Method: theoretical |
Financing options for start-ups - How to finance growth potential? The evaluation of financing options for start-ups is a crucial aspect for the success and growth of young companies. This paper focuses on evaluating and analysing the various options for raising capital for start-ups. In the basic section, traditional and alternative sources of financing such as equity financing, debt capital, crowdfunding, venture capital and state subsidies are analysed in detail. In the main section, the research aims to identify and evaluate the advantages and disadvantages of each financing option by considering factors such as cost, loss of control, access to resources, potential growth and flexibility. It also analyses current trends and changes in the financing environment for start-ups, including the impact of technology and global market developments. Furthermore, the adaptability of different financing models to different industries and company phases will be analysed. The aim is to develop recommendations and action strategies to help start-ups choose the most suitable financing options to support their growth and achieve their long-term goals. Both financial and strategic aspects are considered to provide a comprehensive insight into the financial decision-making of start-ups. Method: theoretical |
Decentralised Finance - A comparison with the traditional financial system The aim of this paper is to examine the emerging concept of decentralised finance (DeFi) in the context of its potential advantages and disadvantages compared to the traditional financial system. It will analyse the basic principles of DeFi, which is based on blockchain technology and smart contracts to provide financial services without centralised institutions. In addition, the paper will highlight various applications and protocols in DeFi, such as decentralised exchanges (DEX), lending platforms, liquidity provision and other financial instruments. The analysis will focus on the potential advantages and disadvantages of DeFi compared to the traditional financial system. Aspects such as accessibility, transparency, efficiency, lower transaction costs, financial inclusion and the ability to offer traditional financial services in a decentralised and global manner will be considered. Furthermore, the challenges, risks and limitations of DeFi are compared, including security aspects, regulatory uncertainties and potential scaling issues. The aim is to provide a comprehensive understanding of the potential and limitations of DeFi compared to the established financial system, which could be of particular interest to financial players, regulators and innovators. Method: theoretical |
Exchange Traded Funds - Functionality, market development and possible applications ETFs are an attractive alternative to traditional savings plans due to their easy availability and high diversification potential. This thesis presents the characteristics, development and diverse application possibilities of ETFs. The first step is to analyse the functioning of ETFs, which are designed as financial instruments to track a broad index such as the S&P 500, the DAX or other market indices. It will then look at the structure and mechanism of how ETFs track the performance of the underlying index before looking at the historical development and growth of the ETF market, including the emergence of different types of ETFs, their popularity with investors and their integration into the global financial markets. The analysis section also focuses on the various uses of ETFs, both for institutional and retail investors. This includes topics such as diversification, passive investment strategies, ways to minimise risk and the flexibility to track specific market segments or asset classes. The paper also considers potential challenges and risks associated with ETFs, such as liquidity risks, tracking errors, costs and regulatory considerations. The paper thus aims to provide insights into the variety of investment strategies and opportunities that ETFs offer investors, while focussing on a critical evaluation of the potential and risks of this financial instrument. Method: theoretical |
ESG scores: What do the criteria mean for financial institutions? ESG requirements are becoming a fundamental challenge that banks must overcome in an environment of low interest rates, rising external operating and capital costs due to regulation and massive headwinds from the COVID-19 crisis. The
financial services sector is ultimately seen as playing a decisive role in the sustainable transformation of the economy. The first institutions in the financial sector have already clearly positioned themselves. This paper will present the ESG criteria for banks and analyse
the opportunities and challenges in particular. Method: theoretical, descriptive |
