The economics of the global stock exchange industry / Josanco Floreani and Maurizio Polato, Department of Economics, University of Udine, Italy.

Format:

Book

Author/Creator:

Floreani, Josanco, 1972- author.

Polato, Maurizio, 1964- author.

Series:

Palgrave Macmillan studies in banking and financial institutions

Palgrave Macmillan Studies in banking and financial institutions

Language:

English

Subjects (All):

Stock exchanges.

Stock exchanges--Law and legislation.

Securities industry.

Securities.

Physical Description:

xiv, 277 pages ; 23 cm.

Place of Publication:

Houndmills, Basingstoke, Hampshire : Palgrave Macmillan, 2014.

Summary:

"Securities exchanges play a significant role in macroeconomics. They engage in the allocation process, which assures that savings are allocated to the most profitable investment opportunities. But what are the forces driving the supply side, namely, the services offered by exchanges? It is not just a matter of market microstructure and the rules governing the price discovery. Rather, it embraces a much wider perspective involving the balance of interests of multiple stakeholders, the competitive strategies of exchanges and other platform operators and the impact of regulation. This book provides an economic analysis of the stock exchange industry. It draws on theories from micro- and industrial economics to provide a detailed analysis of the industry structure, the strategic behaviour of key participants and a methodological framework for assessing the performance of stock exchanges. It provides an overview of the factors driving the consolidation of the industry, and examines the implications of ongoing changes in the regulatory environment. It investigates the functioning of securities exchanges and other trading platforms as firms, assuming an industrial organization perspective and focusing on the competitive behaviour of exchanges, regulation and governance arrangements and their impact on the structure of the industry. "-- Provided by publisher.

Contents:

Machine generated contents note:

1.Securities Industry and Exchange Industry: Organization and Value Chain2.The Exchange Industry: An Overview3.Securities Industry Regulation: Implications for Exchanges' Performances4.The Governance of Securities Exchanges: New Insights5.The Economics of Exchanges6.A Risk-Adjusted Model for Performance Measurement7.The Economics of the Exchange Industry: An Empirical Overview.

Notes:

Includes bibliographical references and index.

ISBN:

9781137321824

1137321822

OCLC:

848162834

Online:

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