Category: Money tips Release Date: 2006-11-19
Compared with the United States and Britain and other countries, the German people are rarely in the family financial management to buy shares of listed companies. Even if the stock market in recent years, Germany's DAX index continued to rise in Frankfurt, Germany's remarkable economic recovery in the stock market new accounts are mainly institutional investors and foreign investors. Relevant statistical data show that the number of German investors accounted for only 7.1% of their total population, and this proportion was 23% in the United Kingdom, the United States is 25%. German stocks why not love it?
"Germany has always been a rational, calm and known for rich overnight the stock market is difficult to impress the German people dream of." The work of Yan in the Berlin Stock Exchange, the first departure from the national character has given us an explanation. German economy has long been engaged Orr reported a freelance journalist, Ms. Barshefsky said, "Whether the German people, or entrepreneurs, investing in risk-averse when they will be a primary consideration, it is difficult to grasp without Bacheng make investment decisions, in buying The same is true on the stock. "
According to Barshefsky Orr introduced the "stock and not a German family financial management is a key selection. A sound insurance system to the Germans a stable living environment, education, pension, also do not need a lot of money, the German people do not regard the stock investment as the main source of income. " For example, she said that in the United States, the statutory pension accounting for an average retiree household income ratio of 45%, corporate pension is 13%, private investment gain of 42%. In Germany, the proportion accounted for 85% of the statutory pensions, corporate pensions, 5%, private investment accounted for 10% of the benefit. From the above data can clearly be seen, private investment, the importance of life in the older Americans, the Germans were totally focused on the statutory pension insurance.
In addition, Germany's current Social Security system has enabled the German people most of the monthly income must be used to pay various social insurance funds, Germany's labor to pay a monthly insurance costs account for a variety of the proportion of monthly income, respectively, medical insurance, about 14%, health care insurance, 2%, 19% of old-age insurance, unemployment insurance, 6%. Therefore, the average worker in the hands can be used to invest in the stock market "living money" and "hot money" not much. Over the years, the so-called German people are very conservative investment, funds are less risky to invest in large life insurance proceeds smoothly, the traditional savings or to purchase a home.
"German corporate finance is the main channel banks, through direct financing in the stock market is not the main choice of corporate finance in Germany," German CEO of an investment advisory firm Birnstiel said. Thus, German companies, banks issue fewer shares, the people can be "no stock can be fried." From the statistical data, Deutsche Bank loan amount equivalent to 100% of gross domestic product, twice the United States; and German stock market value of less than 40% of gross domestic product, with the United States about 130% of the proportion of quite different far.
Germany's implementation of "universal banking" system, the banks can operate both the deposit and loan business, they can operate securities business. This enables organizations to find directly in the stock market than from the bank loan financing easy. At the same time, banks want to directly control the company through loans rather than to encourage enterprises to participate in the securities market. Apart from a few large enterprises, small and medium enterprises are actually the backbone of the German economy, accounting for 99% of total number of enterprises, employment, total employment for more than 70% of the population. However, these enterprises are mainly family business, taking into account the threat of market transparency, restrictions and acquisitions, etc. Most of these companies refuse to publicly listed.
The German government and the Stock Exchange tried to attract ordinary people investing in stocks. In 1996 to 2000, the federal government under the impetus of privatization, the German set off an unprecedented hot stocks. From 1996 to 2000, known as "universal stock" in Deutsche Telekom shares rose seven-fold, reaching a level equivalent to 104.9 euros per share. However, the short-lived, since 2000 the world's high-tech stocks large landslide, in the following less than two years time, Deutsche Telekom's share price fell to high and from 8.14 euros per share, during the Frankfurt DAX index was down 8136 points to 2188 points. The upsurge of popular stocks, ended disastrously, until now, many of the original desperate small shareholders have not yet recovered.
The soaring stock market crash of the stock to many Germans shied away from, the German stock market is generally considered investment fund companies, banks or other financial institutions business. At present individual investors primarily through the purchase of bonds, funds, insurance and other indirect "to join the Stock Market." Not active in the domestic investors to invest in the case, the German securities institutions vigorously promote the internationalization strategy, such as the Frankfurt stock market is the spot, futures and settlement integrated operation, attracting the world's most institutional investors involved. (Text / Huan Kung Di)
