The Master's degree program in Digital Business Communications and Embera Partners shed light on the status quo and the future of corporate access in Austria and Germany. From September 2024 to January 2025, they intensively examined this important topic for companies as part of the Research Lab.
Challenges posed by MiFID II for Corporate Access
The implementation of the MiFID II directive in January 2018 had a significant impact on the area of corporate access services, which help to establish contact between companies and institutional investors and build a trusting relationship.
Overall, MiFID II has led to a far-reaching reorganization of relationships between investment banks, issuers and investors. Transparency and cost clarity have been increased. This has made corporate access less attractive as a service for investment banks, particularly for small and medium-sized listed companies (small and mid caps), which in turn makes it more difficult for them to gain access to institutional investors and thus to capital.
Objectives of the study
Against this background, the study examines - how corporate access is organized and evaluated in Germany and Austria, - how the possibilities and preferences with regard to corporate access have changed since the introduction of MiFID II, - what problems arise from the changed conditions for all parties involved and - what solutions issuers and the sell-side are currently planning and will be planning in the future.
You can find the full research report here.