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The Governance of Securities Exchanges. New Insights

  • Josanco Floreani
  • Maurizio Polato
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)

Abstract

There is a bourgeoning strand of academic literature dealing with the subject of corporate governance in the exchange industry. A large part of that literature investigates the reasons why exchanges modify their legal status. In particular, it tries to find a viable economic explanation for the demutualization of exchanges and the subsequent listing of major exchanges. To accomplish that task academic literature has investigated the different incentives of various stakeholders. Broadly speaking, the corporatization of exchanges would seem to mirror the attempts that have been made to balance the vested interests of brokerage firms and outside shareholders, local and international intermediaries, listed firms and platform users.

Keywords

Corporate Governance Ownership Structure Minority Shareholder Institutional Ownership Governance Arrangement 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 7.
    See G. Rooks, W. Raub and F. Tazelaar (2006) ‘Ex Post Problems in Buyer—Supplier Transactions: Effects of Transactions Characteristics, Social Embeddedness and Contractual Governance’, Journal of Management and Governance, 10, 3, 239–76.CrossRefGoogle Scholar

Copyright information

© Josanco Floreani and Maurizio Polato 2014

Authors and Affiliations

  • Josanco Floreani
    • 1
  • Maurizio Polato
    • 1
  1. 1.Department of EconomicsUniversity of UdineItaly

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