Economic Effects Of Transparency In International Equity Markets
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Economic Effects Of Transparency In International Equity Markets
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Author : Mark Lang
language : en
Publisher: Now Publishers Inc
Release Date : 2011
Economic Effects Of Transparency In International Equity Markets written by Mark Lang and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.
This monograph reviews the existing accounting, finance and economics literature on the economic effects of transparency in international equity markets, considers aspects of an international setting that make it an interesting environment for investigating these effects, and suggests directions for future research
Economic Effects Of Transparency In International Equity Markets
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Author : Mark H. Lang
language : en
Publisher:
Release Date : 2016
Economic Effects Of Transparency In International Equity Markets written by Mark H. Lang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
In this paper we discuss the existing accounting literature on the real effects of financial reporting transparency in international equity markets, present aspects of an international setting that make it a fruitful environment for investigating these effects and suggest directions for future research.
Economic Effects Of Transparency In International Equity Markets
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Author : Mark Harold Lang
language : en
Publisher:
Release Date : 2011
Economic Effects Of Transparency In International Equity Markets written by Mark Harold Lang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Economics categories.
Economic Effects of Transparency in International Equity Markets reviews the existing accounting, finance and economics literatures on the economic effects of transparency in international equity markets, considers aspects of an international setting that make it an interesting environment for investigating these effects, and suggests directions for future research. The authors focus on the availability of firm-specific financial information to equity stakeholders and the effects of the quantity and quality of that information on own-firm equity value. Drawing from the FASB/IASB conceptual framework, this monograph defines high quality financial information as information that both faithfully represents the substance of an underlying phenomenon and can be understood by users of that information. Economic Effects of Transparency in International Equity Markets focuses on an international context to investigate the effects of transparency because overall levels of transparency tend to be low, there is substantial cross-country institutional and regulatory variation and managers and regulators in these environments face significant tradeoffs in determining optimal transparency levels. Although this variation can sometimes complicate the researcher's effort to make inferences across different institutional environments, the authors highlight how these differences can be exploited to identify potential disclosure and informational effects that may be too subtle to detect in more homogenous, single-country, settings and to understand the interactions between transparency and other aspects of the firm's economic environment.
Regulating Competition In Stock Markets
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Author : Lawrence R. Klein
language : en
Publisher: John Wiley & Sons
Release Date : 2012-04-25
Regulating Competition In Stock Markets written by Lawrence R. Klein and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-25 with Business & Economics categories.
A guide to curbing monopoly power in stock markets Engaging and informative, Regulating Competition in Stock Markets skillfully analyzes the impact of the recent global financial crisis on health and happiness, and uses this opportunity to put regulatory systems in perspective. Happiness is lost because of emotional and physical health deterioration resulting from the crisis. Therefore, the authors conclude that financial crisis prevention should be the focus of public policy. This book is the most comprehensive study so far on potential risks to the stock market, especially various forms of market manipulation that lead to mania and eventual crisis. Based on litigation cases from international stock markets, and borrowing multidisciplinary findings in the fields of finance, economics, accounting, media studies, criminology, legal studies, psychology, and medicine, this book is the first to provide thorough micro-level regulatory proposals rooted in financial reality. By focusing on securities trading, they apply antitrust measures to limiting monopolistic power that is used for the manipulation of investors' perception and monopolistic profit. These proposals are quantifiable, adjustable, inexpensive, and can be easily implemented by any securities regulating agency for real-time oversight and daily operations. The recommendations found here are intended to improve the fairness and transparency of the financial markets, thereby perfecting the market competition, protecting investors, stabilizing the market, and preventing crises Explores how avoiding crises can to contribute to a more scientific, health aware, and civilized economic and social development Written by a team of authors who have extensive experience in this dynamic field, including Nobel Laureate Lawrence R. Klein Since the founding of the first, organized stock exchange in Amsterdam 400 years ago, no systematic economic research results on stock markets have been implemented in stock market regulation around the world. Regulating Competition in Stock Markets aims to fill this void.
Equity Markets In Transition
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Author : Reto Francioni
language : en
Publisher: Springer
Release Date : 2017-01-17
Equity Markets In Transition written by Reto Francioni and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-17 with Business & Economics categories.
This book underscores the complexity of the equity markets, the challenges they face, and the fact that they are still a work in process. Three interacting forces drive market change: competition, technology change, and regulatory change. The markets have one major objective in particular to achieve: the delivery of accurate price discovery for both traders and the broader market. Are we getting it? Are competition, technology, and regulation acting together to improve market quality, or are they adding to the complexity of the markets and making accurate price discovery harder to achieve? The difficulty of addressing these issues and reaching a consensus regarding public policy is reflected in the diverse opinions expressed in this book. From an institutional perspective, the volume’s contributors highlight the interconnectedness of all aspects of the internal and external environment within which exchange organizations act. Equity Markets in Transition underscores how technological evolution and recent regulatory changes have influenced the business, and how these developments have opened new possibilities for exchange organizations and for equity markets as a whole, including such issues as the impact of equity markets on job creation. The book combines both a theoretical and a practical approach. Part I presents a theoretical overview of the international equity market business, including an overall description of the value chain of stock trading that includes deep dives on every decisive step. Part II contains contributions from various business specialists who have specific practical and academic knowledge of the different steps. Equity Markets in Transition represents a unique combination of theoretical and practical analysis that offers first-hand insights on all relevant interactions and interrelations among the various parts of the exchange business, with an emphasis on facilitating analysis of the status quo and of emerging trends regarding business models, regulation, and the development of the competitor, customer and investor sides.
Country Transparency And The Global Transmission Of Financial Shocks
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Author : Mr.Luis Brandão Brandao Marques
language : en
Publisher: International Monetary Fund
Release Date : 2013-07-03
Country Transparency And The Global Transmission Of Financial Shocks written by Mr.Luis Brandão Brandao Marques and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-03 with Business & Economics categories.
This paper considers the role of country-level opacity (the lack of availability of information) in amplifying shocks emanating from financial centers. We provide a simple model where, in the presence of ambiguity (uncertainty about the probability distribution of returns), prices in emerging markets react more strongly to signals from the developed market, the more opaque the emerging market is. The second contribution is empirical evidence for bond and equity markets in line with this prediction. Increasing the availability of information about public policies, improving accounting standards, and enhancing legal frameworks can help reduce the unpleasant side effects of financial globalization.
Transparency And Fragmentation
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Author : J. Board
language : en
Publisher: Springer
Release Date : 2002-07-16
Transparency And Fragmentation written by J. Board and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-07-16 with Business & Economics categories.
This is the first major treatment of the effects of increased transparency on financial markets: an important and highly controversial issue for both traders and regulators. Focussing on three main themes - market transparency, the consolidation-fragmentation of trading systems, and the scope of regulation (i.e. which markets, and which traders within those markets, should be subject to regulation), the book highlights the importance of these issues to all markets throughout the world. The book draws on research from eight UK based investment exchanges, Deutsche Borse in Frankfurt and documentary evidence from the US markets and their regulators enabling the identification and documentation of the current situation and consideration of what fresh regulatory approaches are required for this new and fast evolving situation.
The Internationalization Of Equity Markets
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Author : Jeffrey A. Frankel
language : en
Publisher: University of Chicago Press
Release Date : 2008-04-15
The Internationalization Of Equity Markets written by Jeffrey A. Frankel and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-15 with Business & Economics categories.
This timely volume addresses three important recent trends in the internationalization of United States equity markets: extensive market integration through foreign investment and links among stock prices around the world; increasing securitization as countries such as Japan come to rely more than ever before on markets in equities and bonds at the expense of banks; and the opening of national financial systems of newly industrializing countries to international financial flows and institutions, as governments remove capital controls and other barriers. Eight essays examine such issues as the current extent of international market integration, gains to U.S. investors through international diversification, home-country bias in investing, the role of time and location around the world in stock trading, and the behavior of country funds. Other, long-standing questions about equity markets are also addressed, including market efficiency and the accuracy of models of expected returns, with a particular focus on variances, covariances, and the price of risk according to the Capital Asset Pricing Model.
Transparency And International Investor Behavior
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Author : Gaston Gelos
language : en
Publisher: International Monetary Fund
Release Date : 2002-10
Transparency And International Investor Behavior written by Gaston Gelos and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-10 with Business & Economics categories.
Does country transparency affect international portfolio investment? We examine this and related questions using some new measures of transparency and a unique micro dataset on international portfolio holdings. We distinguish between government and corporate transparency. There is clear evidence that international funds invest systematically less in less transparent countries. On the other hand, herding among funds tends to be more prevalent in less transparent countries. There is also some evidence that during crises, funds flee non-transparent countries by a greater amount.
The European Equity Markets
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Author : Benn Steil
language : en
Publisher: Chatham House (Formerly Riia)
Release Date : 1996
The European Equity Markets written by Benn Steil and has been published by Chatham House (Formerly Riia) this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Capital market categories.
Investigating the barriers to European equity market integration which will remain after 1996, this text examines such areas as equity trading, the single currency, corporate governance, pension funds, capital standards, clearance and settlement, and accounting diversity.