Treptow The Economics of Demutualization

An Empirical Analysis of the Securities Exchange Industry
1. Auflage 2007
ISBN: 978-3-8350-9311-9
Verlag: DUV Deutscher Universitäts-Verlag
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 113 Seiten

Felix Treptow examines the changing relationship between exchanges and issuers, analyses the micro- and macroeconomic drivers of the demutualization decision, and investigates its impact on market liquidity. He presents a detailed analysis of both the determinants as well as the consequences of the demutualization of securities exchanges.

Dr. Felix Treptow ist wissenschaftlicher Assistent von Prof. Dietmar Harhoff, Ph. D., am Institut für Innovationsforschung, Technologiemanagement und Entrepreneurship der Universität München.

Autoren/Hrsg.

Treptow, Felix

Inhaltsverzeichnis

1;Foreword;6
2;Acknowledgements;7
3;Table of Contents;9
4;List of Figures;11
5;List of Tables;12
6;Chapter 1 Introduction;14
7;Chapter 2 Stock Exchanges and Issuers: A Changing Relationship*;23
7.1;2.1 Introduction;23
7.2;2.2 The Changing Nature of the Exchange Issuer Relationship;26
7.3;2.3 Current Specifications of Listing Contracts;34
7.4;2.4 Do the Current Policy Debates Reflect the Changing Nature of the Exchange Issuer Relationship?;42
7.5;2.5 Conclusion;48
7.6;Bibliography;49
8;Chapter 3 The Determinants of Demutualization*;53
8.1;3.1 Introduction;53
8.2;3.2 The Determinants of Demutualization;56
8.3;3.3 Empirical Investigation;68
8.4;3.4 Conclusion and Outlook;80
8.5;Bibliography;81
8.6;Appendices;85
9;Chapter 4 The Impact of Demutualization^;91
9.1;4.1 Introduction;91
9.2;4.2 Demutualization and Competition between Stock Exchanges;94
9.3;4.3 Empirical Investigation;100
9.4;4.4 Conclusion and Outlook;118
9.5;Bibliography;120