The Origins Of Europes New Stock Markets

Author : Elliot Posner
Publisher : Harvard University Press
ISBN 13 : 0674031717
Total Pages : 261 pages
Book Rating : 4.15/5 ( download)

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Download or read book The Origins of Europe's New Stock Markets written by Elliot Posner and published by Harvard University Press. This book was released on 2009-02-15 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1995 and 2007, financial elites in more than a dozen western European countries engaged in a cross-border battle to create some twenty new stock markets, many of which were explicitly modeled on the American Nasdaq. The resulting high-risk, high-reward markets facilitated wealth creation, rewarded venture capitalists, and drew major U.S. financial players to Europe. But they also chipped away at the European social compacts between national governments and citizens, opening the door of smaller company finance to the broad trend of marketization and its bounties, and further subjecting European households and family businesses to the rhythms of global capital. Elliot Posner explores the causes of Europe’s emergence as a global financial power, addressing classic and new questions about the origins of markets and their relationship to politics and bureaucracy. In doing so, he attributes the surprising large-scale transformation of Europe’s capital markets to the rise of the European Union as a global political force. The effect of Europe’s financial ascendance will have major ramifications around the world, and Posner’s analysis will push market participants, policymakers, and academics to rethink the sources of financial change in Europe and beyond.

Author : Giancarlo Giudici
Publisher : Elsevier
ISBN 13 : 0762311371
Total Pages : 369 pages
Book Rating : 4.78/5 ( download)

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Download or read book The Rise and Fall of Europe's New Stock Markets written by Giancarlo Giudici and published by Elsevier. This book was released on 2004-11-10 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: The advent of new stock markets (the German Neuer Markt, the French Nouveau Marche, the Italian Nuovo Mercato and Nasdaq Europe) has been one of the most important reforms of stock exchanges in Continental Europe in the 1990s. These stock markets aimed at attracting early stage, innovative and high-growth firms that would not have been viable candidates for public equity financing on the main markets of European stock exchanges. Of these new markets, the Neuer Markt emerged as Europe's answer to NASDAQ. However, Europe's new stock markets met with only limited success. Stock prices plummeted after the ending of the stock market bubble and new markets suffered from poor liquidity, insider trading scandals and accounting frauds. This volume provides an overview of the rise and fall of Europe's new stock markets. It contains twelve papers which investigate the characteristics, the ownership structure and the market performance of companies in the short and long run. In addition this volume examines the role of venture capitalists. New stock markets offered venture capitalists an attractive exit for their investments and helped to create a more vibrant venture capital industry in Europe. The private equity market in Europe today is as large as it was just before the advent of new stock markets. As such, the need for stock markets that allow private equity investors to divest their equity stakes in growth companies continues to exist.

Author : Lodewijk Petram
Publisher : Columbia University Press
ISBN 13 : 0231537328
Total Pages : 305 pages
Book Rating : 4.22/5 ( download)

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Download or read book The World's First Stock Exchange written by Lodewijk Petram and published by Columbia University Press. This book was released on 2014-05-27 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This account of the sophisticated financial hub that was 17th-century Amsterdam “does a fine job of bringing history to life” (Library Journal). The launch of the Dutch East India Company in 1602 initiated Amsterdam’s transformation from a regional market town into a dominant financial center. The Company introduced easily transferable shares, and within days buyers had begun to trade them. Soon the public was engaging in a variety of complex transactions, including forwards, futures, options, and bear raids, and by 1680 the techniques deployed in the Amsterdam market were as sophisticated as any we practice today. Lodewijk Petram’s award-winning history demystifies financial instruments by linking today’s products to yesterday’s innovations, tying the market’s operation to the behavior of individuals and the workings of the world around them. Traveling back in time, Petram visits the harbor and other places where merchants met to strike deals. He bears witness to the goings-on at a notary’s office and sits in on the consequential proceedings of a courtroom. He describes in detail the main players, investors, shady characters, speculators, and domestic servants and other ordinary folk, who all played a role in the development of the market and its crises. His history clarifies concerns that investors still struggle with today—such as fraud, the value of information, trust and the place of honor, managing diverging expectations, and balancing risk—and does so in a way that is vivid, relatable, and critical to understanding our contemporary world.

Author : Laura Bottazzi
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.71/5 ( download)

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Download or read book Europe's 'new' Stock Markets written by Laura Bottazzi and published by . This book was released on 2002 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Elliot Ashley Posner
Publisher :
ISBN 13 :
Total Pages : 982 pages
Book Rating : 4.10/5 ( download)

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Download or read book Financial Change and European Union Politics written by Elliot Ashley Posner and published by . This book was released on 2002 with total page 982 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Michael Schröder
Publisher : Springer Science & Business Media
ISBN 13 : 3642565204
Total Pages : 539 pages
Book Rating : 4.05/5 ( download)

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Download or read book The New Capital Markets in Central and Eastern Europe written by Michael Schröder and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 539 pages. Available in PDF, EPUB and Kindle. Book excerpt: An excellent analyses of the effects of EU enlargement on capital markets in the most advanced countries of Central and Eastern Europe and Russia. It also investigates the EU's impact on the interactions between Eastern and Western capital markets. The study is particularly useful for financial analysts, institutional investors and academic researchers who are interested in the economic and institutional developments of capital markets in CEE countries.

Author : Merritt B. Fox
Publisher : Columbia University Press
ISBN 13 : 023154393X
Total Pages : 612 pages
Book Rating : 4.34/5 ( download)

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Download or read book The New Stock Market written by Merritt B. Fox and published by Columbia University Press. This book was released on 2019-01-08 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic market pervaded by algorithmic trading, conducted at speeds nearing that of light. High-frequency traders participate in a large portion of all transactions, and a significant minority of all trade occurs on alternative trading systems known as “dark pools.” These developments have been widely criticized, but there is no consensus on the best regulatory response to these dramatic changes. The New Stock Market offers a comprehensive new look at how these markets work, how they fail, and how they should be regulated. Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg describe stock markets’ institutions and regulatory architecture. They draw on the informational paradigm of microstructure economics to highlight the crucial role of information asymmetries and adverse selection in explaining market behavior, while examining a wide variety of developments in market practices and participants. The result is a compelling account of the stock market’s regulatory framework, fundamental institutions, and economic dynamics, combined with an assessment of its various controversies. The New Stock Market covers a wide range of issues including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading venue fees and rebates. The book illuminates both the existing regulatory structure of our equity trading markets and how we can improve it.

Author : Elliot Posner
Publisher : Harvard University Press
ISBN 13 : 9780674031715
Total Pages : 272 pages
Book Rating : 4.17/5 ( download)

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Download or read book The Origins of Europe's New Stock Markets written by Elliot Posner and published by Harvard University Press. This book was released on 2009-02-15 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1995 and 2007, financial elites in more than a dozen western European countries engaged in a cross-border battle to create some twenty new stock markets, many of which were explicitly modeled on the American Nasdaq. The resulting high-risk, high-reward markets facilitated wealth creation, rewarded venture capitalists, and drew major U.S. financial players to Europe. But they also chipped away at the European social compacts between national governments and citizens, opening the door of smaller company finance to the broad trend of marketization and its bounties, and further subjecting European households and family businesses to the rhythms of global capital. Elliot Posner explores the causes of Europe’s emergence as a global financial power, addressing classic and new questions about the origins of markets and their relationship to politics and bureaucracy. In doing so, he attributes the surprising large-scale transformation of Europe’s capital markets to the rise of the European Union as a global political force. The effect of Europe’s financial ascendance will have major ramifications around the world, and Posner’s analysis will push market participants, policymakers, and academics to rethink the sources of financial change in Europe and beyond.

Author : B. Mark Smith
Publisher : University of Chicago Press
ISBN 13 : 0226764044
Total Pages : 351 pages
Book Rating : 4.47/5 ( download)

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Download or read book A History of the Global Stock Market written by B. Mark Smith and published by University of Chicago Press. This book was released on 2004-10 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Resource added for the Financial Institutions Management program 101144.

Author : Alasdair Murray
Publisher :
ISBN 13 : 9781901229233
Total Pages : 58 pages
Book Rating : 4.38/5 ( download)

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Download or read book The Future of European Stock Markets written by Alasdair Murray and published by . This book was released on 2001 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: The creation of a single market in equities remains one of the EU's unfinished projects. But the author argues against a centralised market and instead, suggests establishing a new and flexible regulatory framework, allowing Europe to compete effectively in the global arena.