Stock market development under globalization: whither the gains from reforms?

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Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4./5 ( download)

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Book Synopsis Stock market development under globalization: whither the gains from reforms? by : Augusto de la Torre, Sergio L. Schmukler, Juan Carlos Gozzi

Download or read book Stock market development under globalization: whither the gains from reforms? written by Augusto de la Torre, Sergio L. Schmukler, Juan Carlos Gozzi and published by World Bank Publications. This book was released on 2007 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Over the past decades, many countries have implemented significant reforms to foster domestic capital market development. These reforms included stock market liberalization, privatization programs, and the establishment of regulatory and supervisory frameworks. Despite the intense reform efforts, the performance of capital markets in several countries has been disappointing. To study whether reforms have had the intended effects on capital markets, the authors analyze the impact of six capital market reforms on domestic stock market development and internationalization using event studies. They find that reforms tend to be followed by significant increases in domestic market capitalization, trading, and capital raising. Reforms are also followed by an increase in the share of activity in international equity markets, with potential negative spillover effects on domestic markets.

Financial Market Regulatory Reform

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Publisher :
ISBN 13 :
Total Pages : 332 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Financial Market Regulatory Reform by : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications and Finance

Download or read book Financial Market Regulatory Reform written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications and Finance and published by . This book was released on 1989 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt:

How China Escaped Shock Therapy

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Publisher : Routledge
ISBN 13 : 042995395X
Total Pages : 256 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis How China Escaped Shock Therapy by : Isabella M. Weber

Download or read book How China Escaped Shock Therapy written by Isabella M. Weber and published by Routledge. This book was released on 2021-05-26 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China’s path. In the first post-Mao decade, China’s reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization—but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators? With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia’s economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.

Regulatory Reform of Stock and Futures Markets

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Publisher : Springer Science & Business Media
ISBN 13 : 9400921934
Total Pages : 201 pages
Book Rating : 4.4/5 (9 download)

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Book Synopsis Regulatory Reform of Stock and Futures Markets by : Franklin R. Edwards

Download or read book Regulatory Reform of Stock and Futures Markets written by Franklin R. Edwards and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Stock Market Reform

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Author :
Publisher :
ISBN 13 :
Total Pages : 496 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Stock Market Reform by : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications and Finance

Download or read book Stock Market Reform written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications and Finance and published by . This book was released on 1990 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The New York Stock Exchange

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Publisher :
ISBN 13 :
Total Pages : 6 pages
Book Rating : 4.:/5 (19 download)

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Book Synopsis The New York Stock Exchange by : Mark Jickling

Download or read book The New York Stock Exchange written by Mark Jickling and published by . This book was released on 2003 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Stock Market Development Under Globalization

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Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Stock Market Development Under Globalization by : Augusto de la Torre

Download or read book Stock Market Development Under Globalization written by Augusto de la Torre and published by . This book was released on 2007 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decades, many countries have implemented significant reforms to foster domestic capital market development. These reforms included stock market liberalization, privatization programs, and the establishment of regulatory and supervisory frameworks. Despite the intense reform efforts, the performance of capital markets in several countries has been disappointing. To study whether reforms have had the intended effects on capital markets, the authors analyze the impact of six capital market reforms on domestic stock market development and internationalization using event studies. They find that reforms tend to be followed by significant increases in domestic market capitalization, trading, and capital raising. Reforms are also followed by an increase in the share of activity in international equity markets, with potential negative spillover effects on domestic markets.

Financial Market Reform In China

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Publisher : Routledge
ISBN 13 : 042970142X
Total Pages : 432 pages
Book Rating : 4.4/5 (297 download)

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Book Synopsis Financial Market Reform In China by : Baizhu Chen

Download or read book Financial Market Reform In China written by Baizhu Chen and published by Routledge. This book was released on 2019-09-17 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: As editors, first of all, we would like to thank the authors of this volume for their conscientious work that makes this volume possible. Many ideas in this book were first explored at an international symposium on financial market reforms in China, which was organized by the Chinese Economists Society. We would like to express our thanks to the sponsors of the conference: Center for International Business Education and Research, China Reform Foundation, MetLife, Hausman & Shrenger LLP, Lincoln National Insurance Company, City National Bank, Marshall School of Business, University of Southern California and The Chinese Economists Society. The Lincoln Foundation also provided generous support to this project through a grant made to Claremont Graduate University where this book was finalized.

The Effects of Market Reform on Trading Costs of Public Investors

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Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The Effects of Market Reform on Trading Costs of Public Investors by : Narayan Y. Naik

Download or read book The Effects of Market Reform on Trading Costs of Public Investors written by Narayan Y. Naik and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: In October 1997, the London Stock Exchange removed the obligation of dealers to quote firm two-way prices for FTSE 100 index stocks, and allowed the public to compete directly with dealers in these stocks through the submission of limit orders. This article examines the effects of these market reforms on the trading costs of quot;publicquot; investors, the targeted beneficiary of the reforms, and documents several interesting results. First, the duly signed average effective half-spread of public investors has decreased much more than the corresponding decrease in the absolute effective half-spread documented by Barclay et. al. (1998) for NASDAQ. This is because a sub-set of public investors trade through limit orders, and thereby earn the spread rather than pay it. Second, consistent with the change from obligatory to voluntary market making, there is a significant increase in the quot;positioning revenuequot; earned by dealers from a change in the price of a stock while they are carrying the stock in their inventory. As a result, the overall gain of public investors in terms of the realised half-spread is not significantly different from zero. Third, the cross-subsidisation across trade sizes has disappeared, leading to a significant decline in the average execution costs of small public trades and an increase for large public trades. Fourth, the market reforms have caused negative externalities for stocks not going through the new trading system. Finally, in the absence of the price stabilisation provided earlier by dealers, the inside half-spread has increased very sharply in the first hour of trading - a finding which highlights the need for special opening procedures for electronic order books.

Stock Market Short-Termism

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Publisher : Springer
ISBN 13 : 3030229033
Total Pages : 302 pages
Book Rating : 4.0/5 (32 download)

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Book Synopsis Stock Market Short-Termism by : Kim M. Willey

Download or read book Stock Market Short-Termism written by Kim M. Willey and published by Springer. This book was released on 2019-07-12 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consideration of harmful short-termism in capital markets is prevalent amongst legal and business academics. It is also garnering increased attention in corporate board rooms and executive suites, and from the investing public. As a result, correcting perceived short-termism in capital markets has become a rationale for reform used by regulators across the globe. Despite the considerable attention given to this phenomenon, there has not yet been a comprehensive book analyzing the perceived short-termism problem, its sources and causes, and reform efforts undertaken to date. This book fills this gap by documenting the rise of the short-termism discussion, analyzing the significance of the problem, and considering the proposed legal remedies. Based on this analysis, a framework for effective short-termism reform is offered.

Speculation and the Reform of the New York Stock Exchange

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Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Speculation and the Reform of the New York Stock Exchange by : James Truslow Adams

Download or read book Speculation and the Reform of the New York Stock Exchange written by James Truslow Adams and published by . This book was released on 1913 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Global Stock Market Reforms

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Publisher : Gower Publishing Company, Limited
ISBN 13 :
Total Pages : 176 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Global Stock Market Reforms by : Paul Stonham

Download or read book Global Stock Market Reforms written by Paul Stonham and published by Gower Publishing Company, Limited. This book was released on 1987 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Market Reform Act of 1989

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Publisher :
ISBN 13 :
Total Pages : 436 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis The Market Reform Act of 1989 by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities

Download or read book The Market Reform Act of 1989 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities and published by . This book was released on 1990 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Stock Market Reform

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Publisher :
ISBN 13 :
Total Pages : 484 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Stock Market Reform by : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications and Finance

Download or read book Stock Market Reform written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications and Finance and published by . This book was released on 1990 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Privatizing China

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Publisher : John Wiley & Sons
ISBN 13 :
Total Pages : 344 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Privatizing China by : Carl E. Walter

Download or read book Privatizing China written by Carl E. Walter and published by John Wiley & Sons. This book was released on 2003-06-25 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much is written about the various efforts aimed at reforming China’s state-owned enterprises. But in all this literature the Chinese government’s determined effort to use the equity capital markets as a tool of enterprise reform has been virtually ignored. The fact is that during the past decade this has been, and will continue to be, the principal thrust with regard to the reform of state-owned enterprises. On-again, off-again, noises about bankruptcy, M&A solutions and asset management companies are only sideshows in the process. Carl E. Walter is a Managing Director of JP Morgan and Chief Operating Officer of its China businesses. Prior to joining JP Morgan in 2001, Mr. Walter was a Managing Director and member of the Management Committee of China International Capital Corporation. He was Chief Representative in Beijing for Credit Suisse First Boston from 1993-8. During his decade in China, Mr. Walter has participated in a number of pathbreaking international and domestic share listings and debt issues for Chinese companies, banks and the Ministry of Finance. He holds a PhD from Stanford University and a graduate certificate from Beijing University. Fraser Howie is an independent financial analyst located in Beijing. Over the past ten years he has worked in Hong Kong trading equity derivatives at Bankers Trust and Morgan Stanley. After moving to China in 1998 he worked in the Sales and Trading Department of China International Capital Corporation then with a domestic retail financial services company and most recently with China M&A Management Company.

The Problem of HFT

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Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781481978354
Total Pages : 0 pages
Book Rating : 4.9/5 (783 download)

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Book Synopsis The Problem of HFT by : Haim Bodek

Download or read book The Problem of HFT written by Haim Bodek and published by Createspace Independent Publishing Platform. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the problem of high frequency trading (HFT) as well as the need for US stock market reform. This collection of previously published and unpublished materials includes the following articles and white papers: The Problem of HFT HFT Scalping Strategies Why HFTs Have an Advantage Electronic Liquidity Strategy HFT - A Systemic Issue Reforming the National Market System NZZ Interview with Haim Bodek TradeTech Interview with Haim Bodek "Modern HFT wasn't a paradigm shift because its innovations brought new efficiencies into the marketplace. HFT was a paradigm shift because its innovations proved that anti-competitive barriers to entry could be erected in the market structure itself to preference one class of market participant above all others"

Financial Market Regulation and Reforms in Emerging Markets

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Author :
Publisher : Brookings Institution Press
ISBN 13 : 0815704895
Total Pages : 441 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Financial Market Regulation and Reforms in Emerging Markets by : Masahiro Kawai

Download or read book Financial Market Regulation and Reforms in Emerging Markets written by Masahiro Kawai and published by Brookings Institution Press. This book was released on 2011 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In the wake of the global financial crisis that began in 2008, offers a systematic overview of recent developments in regulatory frameworks in advanced and emerging-market countries, outlining challenges to improving regulation, markets, and access in developing economies"--Provided by publisher.