Regulating Competition in Stock Markets: Antitrust Measures to Promote Fairness and Transparency through Investor Protection and Crisis Prevention

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.

LAWRENCE R. KLEIN is Benjamin Franklin Professor Emeritus of Economics at the University of Pennsylvania and a Nobel laureate in Economics. He′s published widely and is the intellectual father of Project LINK, a global consortium of national economic forecasting established in 1969 and coordinated in part by the United Nations Department of Economic and Social Affairs. Klein received a PhD in economics from the Massachusetts Institute of Technology.

Viktoria Dalko is a JoAnne Fussa Distinguished Teacher of the Graduate Program in Management, Harvard University Extension School, and a Global Professor of Finance at Hult International Business School in Boston, Dubai, London, San Francisco, and Shanghai. Dalko received a PhD in economics from the University of Pennsylvania.

Michael H. Wang is cofounder, Vice President, and Director of Research of the Boston–based think tank Research Institute of Comprehensive Economics. Wang obtained a PhD in mechanical engineering from the University of Illinois at Urbana–Champaign.