Shaping Profit Participation Rights and Silent Participation as Employee Share Ownership from a Tax and Financial Perspective (Steuerliche Und Finanzwirtschaftliche Aspekte Bei Der Gestaltung Von Genussrechten Und Stillen Beteiligungen Als Mitarbeiterkapitalbeteiligungen)

Arqus Quantitative Tax Research Discussion Paper No. 18

24 Pages Posted: 18 Dec 2006

See all articles by Caren Sureth-Sloane

Caren Sureth-Sloane

Paderborn University; Vienna University of Economics and Business; TRR 266 Accounting for Transparency

Alexander Halberstadt

University of Paderborn - Department of Economics

Date Written: June 2006

Abstract

In the context of employee share ownership profit participation rights and silent participations allow to combine the advantages of self-financing and external financing.

In our paper we analyse from a tax and financial perspective under which circumstances these participation forms provide profitable capital procurement for the company and simultaneously an attractive investment opportunity for the employees. We identify the most important value drivers and derive ranking orders of the alternative financing methods depending on various factors. Finally, we determine a range of optimal company grants to the employees ensuring attractive participations for both parties.

Note: Downloadable document is in German.

Keywords: share ownership, profit participation rights, silent

Suggested Citation

Sureth-Sloane, Caren and Halberstadt, Alexander, Shaping Profit Participation Rights and Silent Participation as Employee Share Ownership from a Tax and Financial Perspective (Steuerliche Und Finanzwirtschaftliche Aspekte Bei Der Gestaltung Von Genussrechten Und Stillen Beteiligungen Als Mitarbeiterkapitalbeteiligungen) (June 2006). Arqus Quantitative Tax Research Discussion Paper No. 18, Available at SSRN: https://ssrn.com/abstract=951155 or http://dx.doi.org/10.2139/ssrn.951155

Caren Sureth-Sloane (Contact Author)

Paderborn University ( email )

Warburger Str. 100
Paderborn, 33098
Germany

Vienna University of Economics and Business ( email )

Welthandelsplatz 1
Vienna, Wien 1020
Austria

TRR 266 Accounting for Transparency ( email )

Warburger Straße 100
Paderborn, 33098
Germany

Alexander Halberstadt

University of Paderborn - Department of Economics ( email )

Warburger Str. 100
D-33098 Paderborn
Germany

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