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Crowdfunding as a mechanism for financing small and medium-sized enterprises

Cichy, Janusz; Gradoń, Witold - In: E-Finanse : finansowy kwartalnik internetowy 12 (2016) 3, pp. 38-48

barrier. Dynamically growing crowdfunding is an opportunity for implemented projects. This study presents a definition of … crowdfunding, its types as well as advantages and disadvantages from lender and loaner of capital points of view. It also shows the … dynamics of crowdfunding market growth in Europe and the legal basics. The aim of the article is to describe the …

Persistent link: https://www.econbiz.de/10011616753

The U.S. Securities Fraud Class Action : An Unlikely Export to the European Union

Warren, Manning G. - 2017

Although the EU has achieved an impressive degree of harmonization in the securities laws of its member states, it has not yet advanced any effective collective private remedies for violations of those securities laws. This is especially noteworthy since the U.S. Supreme Court's decision in...

Persistent link: https://www.econbiz.de/10012974601

Adjustment Mechanisms in a Currency Area

Goodhart, Charles - 2012

Both the euro-area and the United States suffered an initially quite similar housing and financial shock in 2007/8, with several states in both regions being particularly badly affected. Yet there was never any question that the worst hit US states would need a special bail-out or leave the...

Persistent link: https://www.econbiz.de/10013098836

The Changing Role of Financial Intermediation in Europe

Dufey, Gunter - 2006

After a review of factors such as technology and the related policy toward financial liberalization that has affected financial institutions worldwide, this paper focuses on changes in Continental Europe. We identify and review three driving forces: (a) European integration, (b) the factors that...

Persistent link: https://www.econbiz.de/10014027679

Clustering techniques applied to outlier detection of financial market series using a moving window filtering algorithm

Puigvert Gutiérrez, Josep Maria; Gregori, Josep Fortiana - 2008

In this study we combine clustering techniques with a moving window algorithm in order to filter financial market data outliers. We apply the algorithm to a set of financial market data which consists of 25 series selected from a larger dataset using a cluster analysis technique taking into...

Persistent link: https://www.econbiz.de/10003794031

The European Commission and EUA prices : a high-frequency analysis of the EC's decisions on second NAPs

Rotfuß, Waldemar; Conrad, Christian; Rittler, Daniel - 2009

This paper empirically examines price formation in the European Union Emissions Trading Scheme (EU ETS). Our analysis shows that unexpected allocations of European Union Allowances (EUAs) lead to pronounced price reactions of the expected signs. Moreover, we find evidence that the adjustment of...

Persistent link: https://www.econbiz.de/10003875267

EMU and capital markets : the institutional framework

Gros, Daniel - 1998

This paper reviews the factors that will determine the shape of financial markets under EMU. It argues that financial markets will not be unified by the introduction of the euro. National central banks have a vested interest in preserving local idiosyncracies (e.g. the Wechsels in Germany) and...

Persistent link: https://www.econbiz.de/10009768844

Analysis of the Dynamic Relation between the Currency Rates and the Interest Rates from Romania and Euro Area Before and During the Financial Crisis

Stefanescu, Razvan - 2012

This paper examines the changes induced by the actual financial crisis in the dynamic relation between the currency rates and the differentials of the interest rates from Romania and euro area. In the framework of the Uncovered Interest Rate Parity hypothesis we apply the Vector Autoregressive...

Persistent link: https://www.econbiz.de/10013099872

Month-of-the-Year Effects on Romanian Capital Market before and after the Adhesion to European Union

Stefanescu, Razvan - 2013

Monthly seasonality in the stock prices returns is among the best known calendar anomalies that affect the capital markets. The knowledge about such calendar patterns could be exploited in building successful investment strategies. However, it was revealed that not all the calendar anomalies...

Persistent link: https://www.econbiz.de/10013083773

EMU Equity Markets’ Return Variance and Spill Over Effects from Short-Term Interest Rates

Hou, Ai Jun - 2010

The DCF (Discounted Cash flow) Model provides the theoretical background for the possible impact of interest rate changes on equity prices. This paper examines the spillover effects from the movement of short term interest rates to equity markets within the Euro area. The empirical study is...

Persistent link: https://www.econbiz.de/10013150229

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