Capital Markets Union Foundation Project

Against the backdrop of the European discussion and efforts to sustainably improve capital market financing and the interlinkage of bank financing and capital markets, the three foundations decided in autumn 2017 to more strongly integrate their academic funding in this area and to jointly contribute to practice-oriented academic research into the further development of capital market-related corporate financing and its interlinkage with bank financing and capital markets.

Against this background, each of the three foundations has contributed the necessary funds to the joint Science and Practice project entitled ‘European Financial Markets Union: the future of corporate finance, financial market regulation and capital market law‘. The project began funding activities in 2018 and is initially scheduled to run for a period of ten years.

Objectives of the foundation project

  • Organise the exchange on relevant specialist topics between academia and practitioners from the real economy, politics, the financial market and supervision
  • Examine the significance of the various fields of action, legal areas and capital market instruments, including in particular the contribution of financial market regulation to the integration of financial markets and corporate financing in Germany and Europe, and to identify effects and interactions
  • Contribute to more effective dovetailing of bank and capital market financing in Germany and Europe in order to promote and expand the functioning of an efficient banking system
  • Investigate new trends in the structural transition of the economy and the financial system
  • Explore the interdependencies between financial market stability and economic stability and assess risk factors
  • Participate in the creation of a concrete framework for the development of a European Capital Markets Union and discuss its implications for legal developments in Germany
  • Initiate and promote relevant academic projects, including doctorates and post-doctoral theses, and prepare their results for academia and practice.
  • Link up young academics who are active in relevant subject areas or who are planning or carrying out academic work in this area with practitioners, e.g. within the framework of internships

The foundation organises and hosts own events (expert dialogues between academia and practice) via the Capital Markets Union foundation project. In addition, it supports selected third-party events. The foundation also awards scientific research reports within the defined range of topics of the foundation project, and it comprehensively supports young scientists in selected research projects. So far, events are held in German language only.

Origins and history

As early as the 1980s, the capital market instrument of securitisation achieved great importance in the financial world, and today securitisation is an important building block for the financing of banks and the real economy. In Germany, however, an active securitisation market only emerged relatively late. Under the leadership of KfW, True Sale International GmbH (TSI) was established in 2004 from a bank initiative to promote the German securitisation market. TSI set standards for German securitisation transactions at an early stage and promoted necessary legislative changes for the legal and tax framework of the transactions.

On that basis, it has been possible since 2004 to provide German special purpose vehicles for these securitisation transactions via TSI.

In this framework, the three foundations

  • Foundation for Capital Market Law for Germany as a Financial Centre (Stiftung Kapitalmarktrecht)
  • Foundation for Capital Market Research for Germany as a Financial Centre (Stiftung Kapitalmarktforschung)
  • Foundation for Corporate Finance and Capital Markets for Germany as a Financial Centre (Stiftung Unternehmensfinanzierung)

play an important role, as they become shareholders in the special purpose vehicles set up via the TSI in order to ensure the insolvency remoteness of the special purpose vehicles. All three foundations are non-profit-making and were established by the founder KfW in 2004.

The purpose of the foundations is to promote research and teaching in the field of research on capital market law (Stiftung Kapitalmarktrecht), the structure and development of financial markets in Germany and Europe (Stiftung Kapitalmarktforschung), and corporate finance and capital markets (Stiftung Unternehmensfinanzierung).

As a further milestone, the three foundations launched the joint foundation project Capital Markets Union in 2017, with which they contribute to deepening the dialogue between academia and practice on issues of banking and capital market financing in Germany and Europe.

The three foundations

Establishment of the foundations

  • The foundations were established by KfW on 19 July 2004 as foundations under civil law with legal capacity.
  • The competent authority (Darmstadt Regional Council) recognised the establishment of the Foundation for Capital Market Law on 4 August 2004, the Foundation for Corporate Finance and Capital Markets on 14 September 2004 and the Foundation for Capital Market Research on 15 September 2004.
  • The foundation statutes apply in the current version as amended from time to time, in which the foundation purpose is defined and detailed in accordance with the founder's intentions. The purpose of a foundation is fundamental to each foundation and must be expressed unambiguously in the foundation deed.
  • A foundation is generally an aggregation of assets and is established for the long term. The substance of its assets may not be attacked and must be secured so that it cannot be accessed (principle of asset preservation). The three foundations achieve their purpose through the income generated from the investment of their assets. In addition, the foundations also receive donations and, if applicable, distributions from the endowed shares in the special purpose vehicles.

Purpose of the Foundation

The exclusive and direct purpose of the foundations is to promote science in research and teaching in the fields of

  • capital market law (Stiftung Kapitalmarktrecht)
  • the structure and development of financial markets in Germany and Europe (Stiftung Kapitalmarktforschung) and
  • corporate finance and capital markets (Stiftung Unternehmensfinanzierung)

 

The purpose of the foundation will be directly realised by

  • awarding a promotional prize to be awarded for outstanding academic work
  • providing financial support for the library of the beneficiary research institution specified in the foundation's statutes
  • promoting the training of young academics qualified for scientific research and teaching
  • providing financial support for arranging guest lectures at the research institution named in the foundation's statutes
  • evaluating and publishing research results
  • establishing and maintaining study and research facilities, preferably in the financial centre of Frankfurt, with the beneficiary research institution specified in the Foundation's statutes
  • arranging scientific conferences

Non-profit status and tax exemption

The foundations are registered with the tax office in Frankfurt am Main. Based on the submitted corporate income tax certificates, the foundations are exempt from corporate income tax pursuant to Section 5 para. 1 no. 9 of the German Corporate Income Tax Act because they exclusively and directly serve tax-privileged public-benefit purposes within the meaning of Section 51ff. of the German Fiscal Code.

The tax exemption of the foundations applies to the purposes specified in Section 52 (2) of the German Fiscal Code:

  • No. 1 the advancement of science and research
  • No. 7 the advancement of upbringing, adult education and vocational training

The foundations are entitled to issue donation receipts in accordance with the officially prescribed form Section 50 (1) of the German Income Tax Implementation Regulation for donations made to it for these purposes.

Executive Board of the Foundations

  • Pursuant to § 6 of the respective foundation statutes, the sole body of the foundations is the Executive Board, which is composed exclusively of honorary members. The Executive Board consists of at least two and not more than five persons. The Executive Board of each foundation is made up of well-known personalities who ensure that the foundations can fulfil their tasks based on their professional experience and their position in the financial and banking sector or in academia.
  • The Executive Board manages the business of the foundation and decides on the use of the foundation's funds. Two members of the Executive Board are authorised to represent the foundation jointly.
  • In principle, the Executive Board is obliged to manage the foundation in accordance with its purpose.

The foundations as shareholders of the special purpose vehicles established via TSI

In order to create the insolvency remoteness that is important for a securitisation transaction, the shares of special purpose vehicles established through TSI are transferred to the three public-benefit foundations within the framework of the endowment. From 2005 up to March 2021, more than 140 special-purpose vehicles have been established by TSI in this way and the shares have been endowed or transferred to the three foundations in equal shares. The shares held by the foundations as part of the endowment increase the foundation's assets – after the securitisation transaction is completed, the special purpose vehicle is liquidated and the shares (participations) are converted into fund shares or bank balances.

Uniform funding measures of the foundations

The following funding measures are advertised and awarded separately by all three foundations on a uniform and annual basis:

  • sponsorship award of the foundation
  • dissertation scholarship of the foundation
  • publication and printing subsidy from the foundation

Stiftung Kapitalmarktforschung

für den Finanzstandort Deutschland

Purpose of the Foundation and Beneficiary Institute

The exclusive and direct purpose of the foundation is the promotion of science in research and teaching on the structure and development of the financial markets in Germany and Europe.

In the statutes of the Foundation Capital Market Research for Germany as a Financial Centre, the "Gesellschaft für Kapitalmarktforschung e. V., Frankfurt am Main" is designated as the beneficiary institute.

 

 

 

Board members

Rolf-Dieter Maihöfer

Chairman of the Executive Board
Stiftung Kapitalmarktforschung für den Finanzstandort Deutschland

CV download

Hans W. Reich

Deputy Chairman of the Executive Board
Stiftung Kapitalmarktforschung für den Finanzstandort Deutschland

CV download

Hiltrud Thelen-Pischke

Member of the Executive Board
Stiftung Kapitalmarktforschung für den Finanzstandort Deutschland

CV download

Funding and competition documents

The foundation's purpose is realised, among other things, by offering an annual sponsorship award of the ‘Stiftung Kapitalmarktforschung für den Finanzstandort Deutschland‘, which is intended to honour outstanding academic work on the structure and development of the financial markets in Germany and Europe, especially in the area of the capital market.

Furthermore, the foundation awards publication and printing subsidies and dissertation scholarships, provided that the respective work meets the foundation's objective.

Foundation Activities

of the Stiftung Kapitalmarktforschung für den Finanzstandort Deutschland

The sorting of the table can be individually adjusted by clicking on another column heading (e.g. University). Here you can search freely in the table by entering your search term in the search field.

Funding measureLanguageSubject of the funded workName of the funded researcherUniversity

Year of funding

Promotion Award

  ENEssays on Securitization and LeasingDr Philipp KleinWestfälische Wilhelms-Universität Münster2020

Promotion Award

  ENDesign and Effects of Regulatory Requirements in Banking and SecuritizationDr Carina MössingerWestfälische Wilhelms-Universität Münster2020

Printing costs grant

  GER

Wissen, Zurechnung und Ad-hoc-Publizität

Christoph Breuer

Ruprecht-Karls-Universität Heidelberg

2020

Promotion Award

  GERCrowdinvesting. Phänomen – Rechtsbeziehungen – Regulierungnon-publicMartin-Luther-Universität Halle-Wittenberg2019

Printing costs grant

  GERDas Individualschutzziel im europäischen Bankaufsichtsrecht und seine privatrechtliche Durchsetzungnon-publicHumboldt-Universität zu Berlin2019
Dissertation scholarship  GERAuswirkungen eines Zinsaufschwunges auf das Verhalten von Bankkunden – Konsequenzen für das Bankmanagement und die Bankenregulierungnon-publicTechnische Universität Chemnitz2019

Promotion Award

  GERGrenzüberschreitende Bankenaufsicht in der Europäischen UnionDr Gerrit TönningsenGoethe-Universität Frankfurt am Main2018

Promotion Award

  GERShort-termism im Aktien- und Kapitalmarktrecht – Ideengeschichte, Rechtsvergleichung, RechtsökonomieProf Dr Eckart BuerenBucerius Law School2018

Printing costs grant

  GERKapitalmarkttransaktionen als Kartellrechtsverstoß?Dr Julius Carl GoldmannLudwig-Maximilians-Universität München2018
Dissertation scholarship  ENCorporate Venturing and Corporate Strategic Renewal: Rethinking the InterrelationshipConstantin von AderkasTechnische Universität Berlin2018

Promotion Award

  GERProduktverbote zur Gewährleistung von FinanzmarktstabilitätDr Daniel KlingenbrunnBucerius Law School2017
Dissertation scholarship  GERCurrent Account Surpluses and Capital Flows – the Case of Germany and Japan: 1980–2017Taiki MuraiUniversität Leipzig2017

Promotion Award

  GERZentrales Clearing von OTC-Derivaten unter EMIRnon-publicBucerius Law School2016

Printing costs grant

  GERCrowdlending oder Disintermediation in der Fremdkapitalvergabe. Eine Analyse der bank-, zahlungsdienstaufsichts-, gewerbe- und vermögensanlagerechtlichen Regulierung in DeutschlandDr Tobias PolkeAlbert-Ludwigs-Universität Freiburg2016

Promotion Award

  GERAnlageberater als Finanzintermediäre – Aufklärungspflichten über monetäre Eigeninteressen von Finanzdienstleistern in BeratungskonstellationenDr Marcus P. LerchBucerius Law School2015

Promotion Award

  GERImplikationen von Verbriefungen für den Kreditmarkt – Eine empirische Untersuchung des Einflusses von Asset Backed Securities auf den Kreditzins im US-amerikanischen AutomobilmarktDr Felix WaldvogelUniversität Bayreuth2014
Dissertation scholarship  GEREmpirische Analysen zum Segment der mittelständischen Unternehmensanleihen am Finanzstandort Deutschlandnon-publicJustus-Liebig-Universität Gießen2014
Dissertation scholarship  ENThe impact of recent regulation on equity analysts’ research and investors’ behavior in the German marketnon-publicCarl von Ossietzky Universität Oldenburg2014

Promotion Award

  GERPrinzipien der kollektiven Vermögensanlagenon-publicHeinrich-Heine-Universität Düsseldorf2013

Printing costs grant

  GERRechtsfragen islamischer Zertifikate (Sukuk)Dr Osman SacarcelikWestfälische Wilhelms-Universität Münster2013
Dissertation scholarship  GERDie Vereinbarkeit der Markteingriffe des deutschen Staates in den Bankensektor mit der europäischen Wirtschaftsverfassungnon-publicOtto-Friedrich-Universität Bamberg2013

Promotion Award

  GERClose-out Netting, Collateral und systemisches Risiko – Rechtsansätze zur Minderung der Systemgefahr im außerbörslichen DerivatehandelDr Florian FuchsRheinische Friedrich-Wilhelms-Universität Bonn2012
Dissertation scholarship  GEREmpirische Aspekte der Integration von Nachhaltigkeit in die Portfoliotheorienon-publicUniversität Regensburg2012
Dissertation scholarship  GERImplikationen von Verbriefungen für den Kreditmarkt – Eine empirische Untersuchung des Einflusses von Asset Backed Securities auf den Kreditzins im US-amerikanischen Automobilmarktnon-publicUniversität Bayreuth2011
Dissertation scholarship  GEREine empirische Analyse der Anlageentscheidungen privater Haushalte in Deutschland anhand der Depotstatistik der Deutschen BundesbankProf Dr Oscar A. StolperJustus-Liebig-Universität Gießen2011

 

Stiftung Kapitalmarktrecht für Deutschland

für den Finanzstandort Deutschland

Purpose of the Foundation and Beneficiary Institute

The exclusive and direct purpose of the foundation is to promote science in research and teaching in the field of capital market law.
In the statutes of the Stiftung Kapitalmarktrecht, the Institute for Law and Finance at the Johann Wolfgang Goethe University, Frankfurt/Main is designated as the beneficiary institute.

Board members

Henning Sieh

Chairman of the Executive Board
Stiftung Kapitalmarktrecht für den Finanzstandort Deutschland

CV download

Dr Hans Reckers

Deputy Chairman of the Executive Board
Stiftung Kapitalmarktrecht für den Finanzstandort Deutschland

CV download

Folkhart Olschowy

Member of the Executive Board
Stiftung Kapitalmarktrecht für den Finanzstandort Deutschland

CV download

Funding and competition documents

The purpose of the foundation is realised, among other things, by offering an annual ‘Promotion award of the Capital Market Law Foundation for Germany as a Financial Centre‘, which is awarded to honour outstanding academic work on capital market law, especially in the area of the capital market.

The foundation also awards publication and printing subsidies and dissertation scholarships, provided that the respective works are aligned with the foundation's objective.

Foundation activities

of the Stiftung Kapitalmarktrecht für den Finanzstandort Deutschland

The sorting of the table can be individually adjusted by clicking on another column heading (e.g. University). Here you can search freely in the table by entering your search term in the search field.

Funding measureLanguageSubject of the funded workName of the funded researcherUniversity

Year of funding

Promotion Award

  GERIndividualschutz im Kapitalmarkt- und im BankenaufsichtsrechtDr Christian UhlmannRuprecht-Karls-Universität Heidelberg2020
Printing costs grant  GER

Regelungskonzepte im neuen europäischen Verbriefungsrecht –Kapitalmarktregulierung zur Wiederherstellung von Vertrauen in Verbriefungen

David AnschützLudwig-Maximilians-Universität München2020

Dissertation scholarship

  ENClaims TradingPaul CorleisBucerius Law School, Hamburg2020
Promotion Award  GERVerlustausgleich und Risikotragung – Schuldrechtliches Risikokapital und der bankaufsichtsrechtliche Eigenmittelbegriffnon-publicUniversität Hamburg2019
Printing costs grant  GERDie novellierte Debt Governance für Banken in der Europäischen Unionnon-publicGoethe-Universität Frankfurt2019
Dissertation scholarship  GERZur Anteilseignerkontrolle in der europäischen BankenaufsichtClemens BöhmGeorg-August-Universität Göttingen2019
Promotion Award  GERDer Marktrückzug des Emittenten – Dynamische Marktstrukturregulierung im Schnittfeld von Kapitalmarkt- und GesellschaftsrechtDr Catharina Sophie von BergGottfried Wilhelm Leibniz Universität Hannover2018
Promotion Award  GERDie Privilegierung staatlicher Schuldner – Ausgestaltung und Rechtmä-ßigkeit der normativen Sicherung staatlicher (Re-)FinanzierungsinteressenDr Patrick HauserHeinrich-Heine-Universität Düsseldorf2018
Printing costs grant  GERVerlustausgleich und Risikotragung – Schuldrechtliches Risikokapital und der bankaufsichtsrechtliche Eigenmittelbegriffnon-publicUniversität Hamburg2018
Dissertation scholarship  GERPrivate Enforcement im Kapitalmarktrecht – Das Verhältnis von Aufsichts- und Zivilrecht nach der MiFID IILena DaamsRheinische Friedrich-Wilhelms-Universität Bonn2018
Promotion Award  GERRechtlich weiche Verhaltenssteuerungsformen Europäischer Agenturen als Bewährungsprobe der Rechtsunionnon-publicJohannes Gutenberg-Universität Mainz2017
Printing costs grant  GERDer Betafaktor – Theoretische und empirische Befunde nach einem halben Jahrhundert CAPMnon-publicJulius-Maximilians-Universität Würzburg2017
Dissertation scholarship  GER

Regelungskonzepte im neuen europäischen Verbriefungsrecht –Kapitalmarktregulierung zur Wiederherstellung von Vertrauen in Verbriefungen

David AnschützLudwig-Maximilians-Universität München2017
Promotion Award  GERAnleihebedingungen – Rechtssicherheit trotz InhaltskontrolleProf Dr Timo FestLudwig-Maximilians- Universität München2016
Printing costs grant  GERDie Regulierung von Kreditderivaten – Sovereign Credit Default Swaps als Gegenstand nationaler und europäischer Rechtsetzungnon-publicFriedrich-Schiller-Universität Jena2016
Printing costs grant  GERDas Finanztransfergeschäft als Zahlungsdienst – Herausforderungen für Aufsicht, Rechtsprechung und Praxis im Lichte europäischer RechtsetzungDr Christopher DanwerthWestfälische Wilhelms- Universität Münster2016
Dissertation scholarship  ENCapital Requirements in the Context of Recovery and Resolution Planningnon-publicGoethe-Universität Frankfurt2016
Promotion Award  GERInformationsintermediäre des Kapitalmarkts: Private Marktzugangskontrolle durch Abschlussprüfung, Bonitätsrating und FinanzanalyseProf Dr Patrick C. LeyensUniversität Hamburg2015
Printing costs grant  GEREntsendungsrechte in den Aufsichtsrat im europäischen Kontext. Privatautonome aktienrechtliche Bestellungskompetenzen im Lichte des Übernahmerechts und der KapitalverkehrsfreiheitDr Johannes SteinfortHumboldt-Universität zu Berlin2015
Printing costs grant  GEREinseitiges informelles Verwaltungshandeln im RegulierungsrechtDr Michael Matthias SchrammBucerius Law School, Hamburg2015
Dissertation scholarship  GERStaatshaftung der deutschen und europäischen Finanzaufsicht im europäischen Verwaltungsverbundnon-publicUniversität des Saarlandes2015
Promotion Award  GERBucheffekten – Intermediärverwahrte Wertpapiere im deutschen und schweizerischen Recht. Ein rechtsvergleichender Beitrag zur Modernisierung des deutschen DepotrechtsProf Dr Ulrich SegnaGoethe-Universität Frankfurt2014
Printing costs grant  GERRechtswettbewerb und Debt Governance bei Anleihen: Eine rechtsökonomische, -vergleichende und -politische Untersuchungnon-publicLudwig-Maximilians-Universität München2014
Printing costs grant  GERVorstandshaftung und Vorstandsermessen – Rechtliche und ökonomische Grundlagen, ihre Anwendung in der Finanzkrise sowie der Selbstbehalt bei der D&O-VersicherungDr Bernd Claus SchollUniversität zu Köln2014
Dissertation scholarship  GERCrowdinvesting und Moral Hazard – Eine rechtsökonomische und -vergleichende Analyse mit Regulierungsperspektiven durch Markt und Rechtnon-publicLudwig-Maximilians-Universität München2014
Promotion Award  GERRechtsfragen islamischer Zertifikate (Sukuk)Dr Osman SacarcelikWestfälische Wilhelms-Universität Münster2013
Printing costs grant  GERBesicherung von Gläubigermehrheiten bei der Unternehmensfinanzierungnon-publicGoethe-Universität Frankfurt2013
Promotion Award  GERRatings – Bonitätsbeurteilungen durch Dritte im System des Finanzmarkt-, Gesellschafts- und Vertragsrechts. Eine rechtsvergleichende UntersuchungProf Dr Ulrich G. SchroeterAlbert-Ludwigs-Universität Freiburg2012

Printing costs grant

  GERPrinzipien der kollektiven VermögensanlageProf Dr Dirk ZetzscheHeinrich-Heine-Universität Düsseldorf2012
Dissertation scholarship  GERVerhaltenssteuerung durch Kausalitätsanforderungen – eine Antwort de lege lata auf Irreführungen von Anlegern am Sekundärmarktnon-publicHumboldt-Universität zu Berlin2012
Promotion Award  GERDie insolvenzfeste Refinanzierung von Forderungen durch Asset-Backed Securities – Eine Untersuchung der Grundlagen der True Sale-VerbriefungDr Christoph Andreas WeberEberhard Karls Universität Tübingen2011
Dissertation scholarship  GER(Über-)Abschreckung durch unbeschränkte Vorstandshaftung?non-publicGoethe-Universität Frankfurt2011

 

Stiftung Unternehmensfinanzierung und Kapitalmärkte

für den Finanzstandort Deutschland

Purpose of the Foundation and Beneficiary Institute

The exclusive and direct purpose of the foundation is to promote science in research and teaching in the fields of corporate finance and capital markets.
In the statutes of the Stiftung Unternehmensfinanzierung, the EBS Universität für Wirtschaft und Recht gemeinnützige GmbH, Wiesbaden is designated as the beneficiary institute.

 

 

Board members

Prof Dr Ferdinand Mager, CFA

Chairman of the Executive Board
Stiftung Unternehmensfinanzierung und Kapitalmärkte für den Finanzstandort Deutschland

CV download

Dr Claus-Rainer Wagenknecht

Deputy Chairman of the Executive Board
Stiftung Unternehmensfinanzierung und Kapitalmärkte für den Finanzstandort Deutschland

CV download

Ralf Brunkow

Member of the Executive Board
Stiftung Unternehmensfinanzierung und Kapitalmärkte für den Finanzstandort Deutschland

CV download

Dr Frank Czichowski

Member of the Executive Board
Stiftung Unternehmensfinanzierung und Kapitalmärkte für den Finanzstandort Deutschland

CV download

Funding and competition documents

The foundation achieves its purpose by, among other things, offering an annual sponsorship award which is intended to honour outstanding academic work on corporate finance and capital markets, especially in the field of capital markets.

The foundation also awards publication and printing subsidies and dissertation scholarships, provided that the respective work is aligned with the foundation's objective.

Foundation activities

of the Stiftung Unternehmensfinanzierung und Kapitalmärkte für den Finanzstandort Deutschland

The sorting of the table can be individually adjusted by clicking on a different column heading (e.g. University). Here you can search freely in the table by entering your search term in the search field.

Funding measureLanguageSubject of the funded workName of the funded researcherUniversity

Year of funding

Promotion Award

  ENSummarized Disclosure of Risk FactorsProf Dr Daniel BlasegGoethe-Universität Frankfurt2020

Printing costs grant

  GER

Scrip Dividends – Rechtstatsächliche Bedeutung und rechtliche Grundlagen

Martin Berner

Albert-Ludwigs-Universität Freiburg2020
Dissertation scholarship  GER

Die Sonderstellung des lnvestmentsteuerrechts – Eine kritische Würdigung des lnvestmentsteuerrechts im System des Unternehmensteuerrechts

Yannick Klecker 

Universität Osnabrück2020
Promotion Award  GERDer gespaltene Emittent – Ad-hoc-Publizität, Schadenersatz und WissenszurechnungProf Dr Chris ThomaleUniversität Heidelberg2019
Printing costs grant  GERBankenstrukturreformen in Deutschland und dem Vereinigten KönigreichDr Theresa KreftGoethe-Universität Frankfurt2019
Promotion Award  GERÜbernahmerechtliche Kontrolle. Formale und materielle Regelungsmodelle zwischen Anlegerschutz und RechtssicherheitDr Felix GeglerUniversität Tübingen2018
Printing costs grant  GERDie Besteuerungssystematik von Kapitalanlagen – Geltendes Recht und Reformvorschlag für eine kohärente Kapitalanlagenbesteuerungnon-publicUniversität Bayreuth2018
Dissertation scholarship  GERDie Regelungen über Derivate in MiFID II und MiFIRnon-publicRheinische Friedrich-Wilhelms-Universität Bonn2017
Promotion Award  GERVerhaltenssteuerung durch Kausalitätsanforderungen – eine Antwort de lege lata auf Irreführungen von Anlegern am Sekundärmarktnon-publicHumboldt-Universität zu Berlin2016
Printing costs grant  GERAnleihefinanzierung im eigentümergeführten deutschen Mittelstand – Eine theoretische und praktische Untersuchung von lnformationsasymmetriennon-publicTechnische Universität Chemnitz2016
Promotion Award  ENSystemic Risk and the Financial Systemnon-publicRuhr-Universität Bochum2015