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题名/责任者:

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

出版发行项:

Houndmills, Basingstoke, Hampshire : Palgrave Macmillan, c2014.

ISBN:

9781137321824 (hardback)

ISBN:

1137321822 (hardback)

载体形态项:

xiv, 277 pages : illustrations ; 23 cm.

丛编说明:

Palgrave Macmillan Studies in banking and financial institutions.

丛编统一题名:

Palgrave Macmillan studies in banking and financial institutions.

个人责任者:

Floreani, Josanco, 1972- author.

附加个人名称:

Polato, Maurizio, 1964- author.

论题主题:

Stock exchanges.

论题主题:

Stock exchanges-Law and legislation.

论题主题:

Securities industry.

论题主题:

Securities.

中图法分类号:

F831.51

书目附注:

Includes bibliographical references (pages 247-254) and index.

内容附注:

1.Securities Industry and Exchange Industry: Organization and Value Chain -- 2.The Exchange Industry: An Overview -- 3.Securities Industry Regulation: Implications for Exchanges' Performances -- 4.The Governance of Securities Exchanges: New Insights -- 5.The Economics of Exchanges -- 6.A Risk-Adjusted Model for Performance Measurement -- 7.The Economics of the Exchange Industry: An Empirical Overview.

摘要附注:

"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. "

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