scholarly journals Transforming financial markets to retail investors - a comparison of the U.S. and the German on-line brokerage market

2005 ◽  
Author(s):  
C. Holtmann ◽  
C. Lattemann ◽  
S. Strecker ◽  
C. Weinhardt
Keyword(s):  
Financial Markets ◽  
Retail Investors ◽  
On Line ◽  
The U.S

scholarly journals Exploiting the crowd: The New Zealand response to equity crowd funding

2021 ◽  
Author(s):  
◽  
Henry William Hillind
Keyword(s):  
New Zealand ◽  
High Risk ◽  
Financial Markets ◽  
Start Up ◽  
Retail Investors ◽  
On Line ◽  
Internet Platform ◽  
Investor Protections ◽  
Disclosure Statement ◽  
Do So

<p>The crowd funding exclusion in the Financial Markets Conduct Act 2013 allows issuers, often innovative start-up businesses, to raise up to $2,000,000 in a 12 month period from retail investors through an internet platform provided by a licensed intermediary service, without the need for the product disclosure statement and on-line disclosures usually required under Part 3 of the Act. In order to protect the interests of investors in a market with a high risk of negligible return, other protections need to be provided. International jurisdictions have imposed investor caps, but New Zealand has failed to do so. This essay argues that, particularly in light of shortcomings with other aspects of crowd funding investor protections, a mandatory investor cap of five per cent of the amount being raised should be imposed, to protect investors both from the high risks of venture capital investing and from their own inexperience in this new and rapidly developing market.</p>

scholarly journals Exploiting the crowd: The New Zealand response to equity crowd funding

2021 ◽  
Author(s):  
◽  
Henry William Hillind
Keyword(s):  
New Zealand ◽  
High Risk ◽  
Financial Markets ◽  
Start Up ◽  
Retail Investors ◽  
On Line ◽  
Internet Platform ◽  
Investor Protections ◽  
Disclosure Statement ◽  
Do So

<p>The crowd funding exclusion in the Financial Markets Conduct Act 2013 allows issuers, often innovative start-up businesses, to raise up to $2,000,000 in a 12 month period from retail investors through an internet platform provided by a licensed intermediary service, without the need for the product disclosure statement and on-line disclosures usually required under Part 3 of the Act. In order to protect the interests of investors in a market with a high risk of negligible return, other protections need to be provided. International jurisdictions have imposed investor caps, but New Zealand has failed to do so. This essay argues that, particularly in light of shortcomings with other aspects of crowd funding investor protections, a mandatory investor cap of five per cent of the amount being raised should be imposed, to protect investors both from the high risks of venture capital investing and from their own inexperience in this new and rapidly developing market.</p>

Uncharted waters: Investors get access to foreign exchange-traded funds

2021 ◽  
pp. 54-70
Author(s):  
S. R. Moiseev
Keyword(s):  
Financial Markets ◽  
Foreign Exchange ◽  
Driving Forces ◽  
Market Competition ◽  
Secondary Market ◽  
Portfolio Diversification ◽  
Exchange Traded Funds ◽  
Investment Funds ◽  
Retail Investors ◽  
Securities Trading

In 2022, Russian investors will get access to the wide possibilities of the global financial market. The Bank of Russia opens the market for foreign exchange-traded funds (ETFs) — one of the main savings instruments for households. The economy of ETFs differs from other investment funds, whose shares do not have secondary market. The opening of the ETFs market is intended to solve a number of issues for retail investors: moving away from the preference to individual foreign shares towards portfolio diversification, cost reduction, ensuring sustainable profitability, abandoning the aggressive securities trading, and supporting market competition. Soon, ETFs will be one of the driving forces in financial markets. However, their rapid growth is fraught with little-studied effects.

scholarly journals The Spatial Dimension Of Take-Offs And Sustainability: The Case Of East Asian Countries

2016 ◽  
Vol 32 (2) ◽  
pp. 719
Author(s):  
Paul Moon Sub Choi ◽  
Jinhwan Oh ◽  
Changsu Ko
Keyword(s):  
Financial Markets ◽  
East Asian ◽  
Spatial Dimension ◽  
Asian Countries ◽  
Economic Openness ◽  
Human Capital Development ◽  
The Past ◽  
Capital Development ◽  
The Relationship ◽  
The U.S

This study examines the relationship between the size of a country and its “take-off” for economic development. We find that most countries which experienced economic upheavals in the past decades are relatively small in terms of area. Specifically, take-offs appear to be quicker for smaller landmasses with larger potential workforce and higher population density, controlled for financial markets maturity, corporate governance, economic openness, and human capital development. We also find that take-offs are not sustainable by nature as most countries in East Asia that which experience take-offs are currently facing slow-downs of their economies. Through this finding, we predict that China may experience a slow-down at around 36% and may reach to the 50-60% of income level of the U.S.  

The International Role of the U.S. Dollar

FEDS Notes ◽  
2021 ◽  
Vol 2021 (2998) ◽  
Author(s):  
Carol Bertaut ◽  
◽  
Bastian von Beschwitz ◽  
Stephanie Curcuru ◽  
◽  
...  
Keyword(s):  
Financial Markets ◽  
Rule Of Law ◽  
Capital Flows ◽  
Global Economy ◽  
The Rule Of Law ◽  
Strong Property ◽  
International Role ◽  
Openness To Trade ◽  
The U.S

For most of the last century, the preeminent role of the U.S. dollar in the global economy has been supported by the size and strength of the U.S. economy, its stability and openness to trade and capital flows, and strong property rights and the rule of law. As a result, the depth and liquidity of U.S. financial markets is unmatched, and there is a large supply of extremely safe dollar-denominated assets.

The Financial Crisis

2019 ◽  
pp. 1-12
Author(s):  
Alan N. Rechtschaffen
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Financial Markets ◽  
Economic Impact ◽  
Free Fall ◽  
Regulatory Framework ◽  
Subprime Lending ◽  
Crisis Period ◽  
The U.S ◽  
Trump Administration

This chapter discusses the origins of the 2007 financial crisis, subprime lending, and government-sponsored entities. It argues that the events driving financial markets to the precipice of collapse during the global financial meltdown gave rise to a regulatory framework that may have been a rational response to a market in free fall, but need to be reassessed in an era of recovery. In 2018, the U.S. economy may be, by many measures, viewed as wholly recovered from the economic impact of the crisis. The stock market is trading at record highs, having erased all the losses of the crisis period and then some. With this recovery, the Trump administration seeks to restrain the regulatory burden imposed during the crisis.

The Emergence of Distance Learning in Higher Education

2000 ◽  
pp. 143-156 ◽  
Author(s):  
Caroline Howard ◽  
Richard Discenza
Keyword(s):  
Higher Education ◽  
Distance Education ◽  
Distance Learning ◽  
Secondary Schools ◽  
Department Of Education ◽  
Post Secondary ◽  
On Line ◽  
Education Statistics ◽  
The U.S

Although distance learning is not a new phenomenon, recently there has been a huge jump in the number of organizations offering on-line instruction. The National Center for Education Statistics released a two-year survey on distance programs for higher education on behalf of the U.S. Department of Education. The survey reported that one-third of U.S. post secondary schools offered distance education in 1995, and an additional 25% planned to offer courses within the next three years.

Stock Illiquidity and Firm Characteristics

2018 ◽  
Vol 04 (03n04) ◽  
pp. 1950009
Author(s):  
Divya Verma Gakhar ◽  
Shweta Kundlia
Keyword(s):  
Financial Markets ◽  
Stock Returns ◽  
Regression Models ◽  
Policy Implications ◽  
Firm Characteristics ◽  
Financial Health ◽  
Chi Square ◽  
Retail Investors ◽  
Multiple Regression Models ◽  
Basic Characteristics

Main objective of the study is to analyze firm characteristics which affect stock illiquidity. The paper aims to give suggestions and policy implications to corporates and investors while dealing with investments in illiquid stocks. ANOVA, chi-square tests, correlation analysis, univariate and multiple regression models are employed on Amihud (2002) (Amihud, Y., (2002). Illiquidity and Stock Returns: Cross-Section and Time-Series Effects, Journal of Financial Markets 5, 31–56) illiquidity measure and various firm characteristics. Findings of this paper suggest that firms with illiquid stocks can be characterized with low promoter’s stakes, high leverage, poor financial health, small size and low/negative profitability. The findings of the paper will be of relevance to retail investors who are at the mercy of informed investors. The results portray basic characteristics that an investor should look into before investing in any stock. The study is of value to the investors who are grieved because of the adverse selections and information asymmetry. Moreover, the basic nature of illiquid firms has never been studied.

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