Stock Market Integration

Stock Market Integration

4.11 - 1251 ratings - Source

The integration of stock markets has proven to be one of the most significant changes to the global financial market. Historically, the stock exchange industry has been highly fragmented along national markets, but over the past twenty years the importance of the domestic stock market in many industrialized economies has grown sharply, while at the same time the degree of co-movement among international equity markets has increased. The last 13 years has demonstrated a tendency between stock exchanges worldwide to integrate. Stock Market Integration sheds light on the determinants of Merger and Acquisition projects in the stock exchange industry from an international perspective, identifying the main drivers of stock exchange integration. Written in three parts, the first part provides a literature review that summarises the state of the art on stock market integration. Part two provides case study analysis of all successful integration projects in Europe, North America, Latin America as well as intercontinental cross-border mergers. In part three Dorodnykh uses multistage statistical data analysis, based on annual panel data of 43 stock exchanges, to investigate the determinants of stock market integration. This book will prove an ideal resource for postgraduate students, researches, scholars, policy makers and regulatory authorities interested in financial market integration.The studies related to the determinants of stock market integration can be summarized in three main areas. Studies related to the definition of financial integration from a theoretical point of view, providing the initial framework to the followinganbsp;...

Title:Stock Market Integration
Author:Ekaterina Dorodnykh
Publisher:Palgrave Macmillan - 2013-11-04


You Must CONTINUE and create a free account to access unlimited downloads & streaming