The Development of Equity Capital Markets in Transition Economies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Development of Equity Capital Markets in Transition Economies write by Dirk Willer. This book was released on 2012-03-14. The Development of Equity Capital Markets in Transition Economies available in PDF, EPUB and Kindle. This book addresses two different but related topics that can arise during the development of equity capital markets and which could possibly hinder their development: partial privatisation and shareholder rights. Both issues are developed in the context of transition economies in general and Russia in particular. Chapter 2 puts forward a theory of partial privatisation, i. e. a model that aims to explain why the state keeps some residual shares. Several recent surveys for Russia have shown that the state does often not actively use the voting rights of its residual shares. If this was true, partial privati sation could entrench management and hinder restructuring. It would also limit the supply of shares, which could lead to low liquidity. This would be likely to slow down the development of the equity capital market. However, the model in chapter 2 shows that it can be rational to hold back shares from sale in order to maximise privatisation receipts. Another issue which holds back the development of this market is the fact that shareholder rights can not be guaranteed by the state due to weak institutions. Chapter 3 contains an empirical examination of which firms honour shareholder rights and also provides a direct link between this problem and partial privatisation. Maybe surprisingly, some weak evidence is presented that shows that the residual state holding does not exert a negative influence with respect to the introduc tion of shareholder rights, but might even be a weak positive force.
Capital Market Development in Transition Economies Country Experiences and Policies for the Future
Capital Market Development in Transition Economies Country Experiences and Policies for the Future - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Capital Market Development in Transition Economies Country Experiences and Policies for the Future write by OECD. This book was released on 1998-10-06. Capital Market Development in Transition Economies Country Experiences and Policies for the Future available in PDF, EPUB and Kindle. The book, the first time, critically evaluates the evolution of both equity and securities markets in transition economies.
Equity Markets in Transition
Equity Markets in Transition - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Equity Markets in Transition write by Reto Francioni. This book was released on 2017-01-17. Equity Markets in Transition available in PDF, EPUB and Kindle. 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.
Company Management and Capital Market Development in the Transition
Company Management and Capital Market Development in the Transition - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Company Management and Capital Market Development in the Transition write by Marvin R. Jackson. This book was released on 1994. Company Management and Capital Market Development in the Transition available in PDF, EPUB and Kindle. This text discusses the development of company management and capital markets in the rapidly changing Central and Eastern Europe. It covers topics such as different privatization methods in different countries, and financial structure, performance and the banks of these countries.
Creating Capital Markets in Central and Eastern Europe
Creating Capital Markets in Central and Eastern Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Creating Capital Markets in Central and Eastern Europe write by Gerhard Pohl. This book was released on 1995-01-01. Creating Capital Markets in Central and Eastern Europe available in PDF, EPUB and Kindle. Addresses the challenge Hungary faces in overcoming threatening deficits in its current and fiscal accounts without hampering economic growth. The Hungarian economy is emerging from a severe four-year recession with positive developments on numerous economic fronts, but with major weaknesses remaining because of large current and fiscal account deficits. This book addresses the challenge Hungary faces in overcoming these deficits without hampering economic growth. The report examines the country's macroeconomic performance in the first half of the 1990s and the stabilization package launched in March 1995. It explores the structure of fiscal revenues, pension reform, and enterprise and banking reforms. The study also looks at the impact of structural reforms on future economic growth and at Hungary's bid to integrate with the European Union.
