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I propose a model in which firms can convey their quality by listing on a stock exchange. To list, firms must comply with costly listing requirements allowing investors to recognize imperfectly their quality. A profit maximizing exchange may set listing requirements leading to high information...
Persistent link: https://www.econbiz.de/10010861490
Our thesis focuses on private capital inflows affect on economic growth in developing countries. For our analysis, we distinguish three types of private flows: foreign direct investment, bank loans and portfolio investment. From a theoretical view, the capital inflows affect positively economic...
Persistent link: https://www.econbiz.de/10010705826
The article discusses financial market liquidity and its applications to the stock market. It says market liquidity has a time attribute in which investors needs the shortest possible trade time to prevent price reversal risk, has volume in which there must be enough bids to satisfy the needs of...
Persistent link: https://www.econbiz.de/10011071904
The aim of this paper is to study the degree of interdependence between oil price and stock market index into two groups of countries: oil-importers and oil-exporters. To this end, we propose a new empirical methodology allowing a time-varying dynamic correlation measure between the stock market...
Persistent link: https://www.econbiz.de/10011073457
. Recent scandals in the financial industry exposed overconfidence in IT based regulation and, as scholars of regulation have … with a broad perspective we define sociomaterial regulation as the relationships between the rules, the IT artifacts, and … modalities of sociomaterial regulation which can be understood using the three relationships: functionality-, tool-, role …
Persistent link: https://www.econbiz.de/10010757430
exclusive rights of use over information and on the self-regulation of on-line communities. Through a decentralized system of …
Persistent link: https://www.econbiz.de/10010765455
The key role of institutions for economic performance has recently been acknowledged in the economic policy debate. This paper aims at pointing out the main policy lessons and the recommendations to be drawn from New Institutional Economics (NIE), when considering the organization of markets. We...
Persistent link: https://www.econbiz.de/10010765457
from others, and because they seek to influence the industry regulation. Properly organized fora establish an open …
Persistent link: https://www.econbiz.de/10010723175
underscore the economic importance of regulation in the funds’ asset allocation choices, relative to institutional and individual …
Persistent link: https://www.econbiz.de/10010812471
The European Union is completely redesigning the system of prudential supervision of insurance institutions as part of the Solvency Directive II. During its implementation, the Directive, which can be compared to the Basel II prudential standard, was analysed above all in terms of actuarial...
Persistent link: https://www.econbiz.de/10010705813