The Economics of Demutualization: An Empirical Analysis of the Securities Exchange Industry PDF
120 Pages·2006·4.966 MB·English
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Description:
The securities exchange industry is in a state of flux. Exchanges constantly develop new revenue sources and products, try to expand their market share through fierce competition and pursue the consolidation of the industry. A prerequisite for this development was their transformation into market-oriented for-profit entities that are dominatied by outside investors. This process is commonly referred to as demutualization.
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