The Impact of Regulation on European Equities Markets,

Language: English

Published by Verlag Dr. Kovac, Hamburg, 2012

3830066074 / 9783830066071

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Seller: Verlag Dr. Kovac GmbH, Hamburg, GermanyVerlag Dr. Kovac GmbH

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Schriftenreihe volkswirtschaftliche Forschungsergebnisse, Band 181 172 pages. This study investigates the impact of regulation on European equities markets from different perspectives and by using various methodologies. Four research questions aim to shed light on how regulatory objectives impact on securities trading and post-trading. The question whether the lawmaking European institutions are capable to introduce competition into European equities markets and to achieve their regulatory intentions in terms of financial market integration is examined by means of a literature review. The impact of new competition on the liquidity of European securities markets is empirically analyzed by means of two different event studies: one concentrating on the market depth as a liquidity measure and the other employing market resiliency as an indicator for market quality. The impact of regulatory changes on risk management in the European post-trading industry is analyzed by means of a Delphi study. While the a priori perspective hints at the danger of imminent order flow fragmentation and potential negative effects of competition induced by regulation, we find empirical evidence for the legislators" success in fostering competition between European equities markets. Moreover, we introduce a new measure for a systematic comparison of market quality other than the long-established liquidity measures.

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Title
The Impact of Regulation on European Equities Markets,
Author
Michael Chlistalla
Publisher
Verlag Dr. Kovac, Hamburg
Publication year
2012
Condition
neu
Binding
Softcover
Language
English
ISBN 10
3830066074
ISBN 13
9783830066071
Edition
1. Auflage.

Verlag Dr. Kovac GmbH

Hamburg, Germany

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AbeBooks seller since January 24, 2011

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Der Wissenschaftsverlag Dr. Kovač wurde 1982 gegründet und ist ein Fachverlag für wissenschaftliche Literatur. Seit mehr als 40 Jahren verlegen Wissenschaftler/innen aus unterschiedlichsten Fachbereichen bei uns. Das Gros der mehr als 12.400 Forscher/innen, die wir verlegen, stammt von Universitäten im deutschsprachigen Raum.

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