FLORIANOVÁ, Hana a Josef NEŠLEHA. Impact of Regulation on Trading in Financial Derivatives in Europe. International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering. World Academy of Science, Engineering and Technology, roč. 10, č. 12, s. 4073-4076. ISSN 2010-376X. 2016. |
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@article{1360814, author = {Florianová, Hana and Nešleha, Josef}, article_number = {12}, keywords = {capital markets; financial derivatives; investors' behavior; regulation}, language = {eng}, issn = {2010-376X}, journal = {International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering}, title = {Impact of Regulation on Trading in Financial Derivatives in Europe}, url = {http://waset.org/publications/10007753/impact-of-regulation-on-trading-in-financial-derivatives-in-europe}, volume = {10}, year = {2016} }
TY - JOUR ID - 1360814 AU - Florianová, Hana - Nešleha, Josef PY - 2016 TI - Impact of Regulation on Trading in Financial Derivatives in Europe JF - International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering VL - 10 IS - 12 SP - 4073-4076 EP - 4073-4076 PB - World Academy of Science, Engineering and Technology SN - 2010376X KW - capital markets KW - financial derivatives KW - investors' behavior KW - regulation UR - http://waset.org/publications/10007753/impact-of-regulation-on-trading-in-financial-derivatives-in-europe L2 - http://waset.org/publications/10007753/impact-of-regulation-on-trading-in-financial-derivatives-in-europe N2 - Financial derivatives are considered to be risky investment instruments which could possibly bring another financial crisis. As prevention, European Union and its member states have released new legal acts adjusting this area of law in recent years. There have been several cases in history of capital markets worldwide where it was shown that legislature may affect behavior of subjects on capital markets. In our paper we analyze main events on selected European stock exchanges in order to apply them on three chosen markets - Czech capital market represented by Prague Stock Exchange and German capital market represented by Deutsche Börse. We follow time series of development of the sum of listed derivatives on these three stock exchanges in order to evaluate popularity of those exchanges. Afterwards we compare newly listed derivatives in relation to the speed of development of these exchanges. We also make a comparison between trends in derivatives and shares development. We explain how a legal regulation may affect situation on capital markets. If the regulation is too strict, potential investors or traders are not willing to undertake it and move to other markets. On the other hand if the regulation is too vague, trading scandals occur and the market is not reliable from the prospect of potential investors or issuers. We see that making the regulation more strict usually discourages subjects to stay on the market immediately although making the regulation more vague to interest more subjects is usually much slower process. ER -
FLORIANOVÁ, Hana a Josef NEŠLEHA. Impact of Regulation on Trading in Financial Derivatives in Europe. \textit{International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering}. World Academy of Science, Engineering and Technology, roč.~10, č.~12, s.~4073-4076. ISSN~2010-376X. 2016.
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