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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Základní údaje
Originální název Impact of Regulation on Trading in Financial Derivatives in Europe
Autoři FLORIANOVÁ, Hana (203 Česká republika, garant, domácí) a Josef NEŠLEHA (203 Česká republika, domácí).
Vydání International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering, World Academy of Science, Engineering and Technology, 2016, 2010-376X.
Další údaje
Originální jazyk angličtina
Typ výsledku Článek v odborném periodiku
Obor 50206 Finance
Stát vydavatele Spojené státy
Utajení není předmětem státního či obchodního tajemství
WWW URL
Kód RIV RIV/00216224:14560/16:00095922
Organizační jednotka Ekonomicko-správní fakulta
Klíčová slova anglicky capital markets; financial derivatives; investors' behavior; regulation
Příznaky Mezinárodní význam, Recenzováno
Změnil Změnila: Mgr. Daniela Marcollová, učo 111148. Změněno: 6. 4. 2018 10:20.
Anotace
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.
Návaznosti
MUNI/A/0916/2015, interní kód MUNázev: Behaviorální a znalostní aspekty obchodování a oceňování finančních aktiv
Investor: Masarykova univerzita, Behaviorální a znalostní aspekty obchodování a oceňování finančních aktiv, DO R. 2020_Kategorie A - Specifický výzkum - Studentské výzkumné projekty
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