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Zustand: New. In.

Kartoniert / Broschiert. Zustand: New. The stock exchange industry has been subject tounprecedented dynamics in recent decades,particularly in Europe and the US. Exchanges are nolonger organized as not-for-profit mutuals and havelong lost their almost club-like atmosphere. Insteadmany of them ha.

Taschenbuch. Zustand: Neu. Neuware - The stock exchange industry has been subject tounprecedented dynamics in recent decades,particularly in Europe and the US. Exchanges are nolonger organized as not-for-profit mutuals and havelong lost their almost club-like atmosphere. Insteadmany of them have converted into commercialenterprises, abandoned their consensual governancestructure and replaced the trading floor with anelectronic trading system. The members (andcustomers) of the exchages sold their interest inthe exchange to international investors that - incontrast to the members - have a purely financialinterest in the exchange. This changes have raisedconcerns amongst both regulators and marketparticipants, however, for somewhat different reasons.Why did we see these significant changes in theorganization of this industry and what are theirconsequences This book, which is a collection ofarticles that represent the dissertation of theauthor, strives to answer the raised issues bothempirically and theoretically. The goal is to providea deeper understanding for the underlying economicsin this industry and explain the rationale for thestrategic actions undertaken by its main participants.