We analyze the economic consequences of disclosure and regulation within a context of significant information asymmetry and lenient regulation. In Canada, firms can enter the stock market at a pre-revenue stage by fulfilling each of the requirements of an initial public offerings or using...

This research considers the strategies on the initial public offering of company equity at the stock exchanges in the imperfect highly volatile global capital markets with the nonlinearities. We provide the IPO definition and compare the initial listing requirements on the various markets. We...

This paper analyzes the informational content of 3,365 Moody's credit rating reports, such as rating changes, watchlist announcements, and outlooks, and their impact on financial markets. We test whether the tone or the length of credit rating report have an immediate impact on the equity or...

Our paper reviews the equity offerings of Greek-controlled maritime companies in US capital markets. We specifically examine the percentage of equity funds raised by Greek interests compared to the overall international maritime raisings in the United States, the amount of money raised, the...

The paper provides an overview of the hedge fund industry, mainly from a financial stability and European angle. It is primarily based on an extensive analysis of information from the TASS database. On the positive side of the financial stability assessment, hedge funds have a role as providers...

The experience of the recent financial crisis leads to reflections on the relevant mechanisms of risk reduction of an investment firms activity. Within the European Union, the Directive 2010/76/EU (CRD III) has introduced new rules regarding the remuneration policy for investment firms. The main...

MiFID's key objectives are market efficiency, market integrity, and fairness. By defining a new trading venue classification (i.e., Regulated Markets, Multilateral Trading Facilities, and systematic internalisers) and by enabling these venues to compete on a level playing field in terms of fees,...

The experience of the recent financial crisis leads to reflections on the relevant mechanisms of risk reduction of an investment firms activity. Within the European Union, the Directive 2010/76/EU (CRD III) has introduced new rules regarding the remuneration policy for investment firms. The main...

On 26 July 2011 Korea's Financial Services Commission (FSC) published a bill revising Korea's Financial Investment Services and Capital Markets Act (FSCMA), which is modeled on Japan's Financial Instruments and Exchange Law etc.The bill contains five main provisions: (1) a new category of...

The research seeks to gauge the global competitiveness of Central and Eastern European (CEE) financial markets. The assessment is made using quantitative and hybrid metrics of financial centre development while placing particular emphasis on competitiveness drivers relevant to the activity of...