The Resource Ownership, governance and regulatory discretion of stock exchanges : a comparative study, Pablo Iglesias-Rodríguez

Ownership, governance and regulatory discretion of stock exchanges : a comparative study, Pablo Iglesias-Rodríguez

Label
Ownership, governance and regulatory discretion of stock exchanges : a comparative study
Title
Ownership, governance and regulatory discretion of stock exchanges
Title remainder
a comparative study
Statement of responsibility
Pablo Iglesias-Rodríguez
Creator
Contributor
Subject
Language
eng
Summary
This book provides a model for the evaluation of potential biased regulatory actions by stock exchanges in relation to their own governance as well as in relation to the governance and activity of their regulatees; based on the analysis of the ownership, governance, allocation of regulatory powers, discretion's exercise and rule's content, this book gives the reader a comparative analysis that addresses how different exchanges' organizational and regulatory structures can lead to different forms of biased regulation as well as externalities in the financial system. The book develops case studies regarding three major stock exchanges' holding companies (BME, the LSEG, and NYSE-Euronext) and the markets they operate in Spain, the UK, France and the US. One of the main findings of the book is the relation between the ownership/governance of exchanges and the quality of their regulatory output; stock exchanges subject to concentrated and path dependent ownership structures and weaker governance regimes in which there is low separation between the ownership of the exchange and its governance, tend to produce rules that maximize the interest of the persons exercising control over those exchanges. Moreover, these persons have the incentive to keep a lock on control because, by doing so, they extract important private benefits of control in the form of regulatory power and discretion that can be used in a biased manner in their own interest. This finding has important implications in terms of policy making; if there is such a relation between governance and regulatory output, efforts by public regulators should be put on the governance of exchanges in order to avoiding the possibilities of biased influence over exchanges' regulatory processes.--
Member of
Assigning source
Provided by Publisher
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Iglesias-Rodríguez, Pablo
Date time place
Defence date: 17 May 2010
Dissertation note
Thesis (Ph. D.)--European University Institute (LAW), 2010.
Index
no index present
Literary form
non fiction
Nature of contents
theses
http://library.link/vocab/relatedWorkOrContributorName
European University Institute
Series statement
  • EUI PhD theses
  • EUI theses
http://library.link/vocab/subjectName
  • Administrative law
  • Banking law
  • Stock exchanges
  • Stock exchanges
  • Stock exchanges
  • Stock exchanges
  • Stock exchanges
Label
Ownership, governance and regulatory discretion of stock exchanges : a comparative study, Pablo Iglesias-Rodríguez
Instantiates
Publication
Note
Examining Board: Prof. Fabrizio Cafaggi, European University Institute (Supervisor); Prof. Hans W. Micklitz, European University Institute; Prof. Katharina Pistor, Columbia University; Prof. Michel Tison, Ghent University
Bibliography note
Includes bibliographical references (pages 275-296)
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEB16672914
Dimensions
30 cm.
Extent
296 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)1038727599
Label
Ownership, governance and regulatory discretion of stock exchanges : a comparative study, Pablo Iglesias-Rodríguez
Publication
Note
Examining Board: Prof. Fabrizio Cafaggi, European University Institute (Supervisor); Prof. Hans W. Micklitz, European University Institute; Prof. Katharina Pistor, Columbia University; Prof. Michel Tison, Ghent University
Bibliography note
Includes bibliographical references (pages 275-296)
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEB16672914
Dimensions
30 cm.
Extent
296 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)1038727599

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