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Capital Markets and Taxation *

Name of module: Capital Markets and Taxation *

Exam number: 6649

Semester/Trimester: Semester

Duration of the module: Ein Semester

Form of the module (i.e. obligatory, elective course): Wahlpflicht

Frequency of module offer: Wintersemester 2013/2014

Prerequisites: Zulassung zum Masterstudium. Anzahl der Teilnehmer_innen ist begrenzt. Anmeldung erforderlich (siehe "Weitere Informationen").

Applicability of module for other modules and study programmes:
als T-Modul im Track "FACT"

Person responsible for module: Prof. Dr. Christina Elschner

Name of the professor: Prof. Dr. Christina Elschner

Language of teaching: Englisch

ECTS-Credits (based on the workload): 7 (Masterseminar)

Workload and its composition (self-study, contact time):
Masterseminar: Kontaktzeit (Vorlesung, Übung, Seminar etc.) 60 Std.; Selbststudium: 150 Std.

Contact hours (per week in semester): 4

Methods and duration of examination:
Erfolgreiche Anfertigung einer Seminararbeit im Umfang von 20 Seiten sowie Präsentation und Diskussion der Ergebnisse der Arbeiten

Emphasis of the grade for the final grade: 2/29 (Masterseminar)

Aim of the module (expected learning outcomes and competencies to be acquired):
Fachliche Kompetenzen:
After the course the students know
- (international) tax issues with respect to capital markets.
- how taxes affect investments at the capital markets
- current research topics and methods in the field of taxes and capital markets.
Außerfachliche und überfachliche Kompetenzen:
- Erarbeitung wissenschaftlicher Fragestellungen
- Beschaffung von Informationen und Literatur
- Lesen und Verstehen wissenschaftlicher Texte
- Verfassen wissenschaftlicher Texte
- Erstellung von Referaten und Vorträgen
- Akademischer Diskurs und wissenschaftliche Diskussion mündlich/schriftlich

Contents of the module:
Taxes can affect the capital markets in various ways. The classical literature considers investors facing different taxes dependent on the kind of investment. Examples are the impact of dividend vs. capital gains taxation on dividend distributions, changes in capital gains taxation, the tax situation of investors (individuals, pension funds, firms) on investments. Another strand in research focuses on the impact of tax shelter activities on the market value of firms.
This module starts with an introductory lecture on tax issues with respect to capital markets. We consider how individuals, institutional investors and firms in Europe and the United States are taxed when receiving income from the capital market.
The students have two options in choosing the topics of the seminar paper: They can either discuss empirical research papers or focus on topics with a tax law background. At the end of the semester, the students present and discuss the seminar papers.

Teaching and learning methods:
Vorlesung, Seminaristischer Unterricht

Literature (compulsory reading, recommended literature):
to be announced

Further information:
Registrierung über Moodle erforderlich.
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