Evidence and Implications of Short-Termism in US Public Capital Markets: 1980-2013

2016 ◽  
Author(s):  
Rachelle C. Sampson ◽  
Yuan Shi





Energy Policy ◽  
2018 ◽  
Vol 121 ◽  
pp. 383-393 ◽  
Author(s):  
Sarah La Monaca ◽  
Martina Assereto ◽  
Julie Byrne




Author(s):  
Gortsos Christos V

This chapter systematically assesses the provisions of MiFID II (Articles 67-88) on supervision, enforcement, and cooperation by competent authorities. It addresses the role of Member States’ competent authorities within the MiFID II regime, with particular emphasis on the competent authorities’ supervisory powers, their power to impose administrative sanctions and measures, as well as criminal sanctions, and redress procedures. It considers cooperation arrangements between Member States’ competent authorities, the obligation to cooperate with the ESMA, and cooperation with third countries. Finally, these rules are briefly assessed on the basis of three elements pertaining to financial supervision, which, in the author’s view, are essential for the preservation of financial stability and the attainment of other goals underlying (public) capital markets law, and which are addressed by MiFID II’s provisions: micro-prudential supervisory effectiveness, the efficient and unobstructed exercise of competent authorities’ sanctioning powers, and the effectiveness of supervisory cooperation arrangements.





2021 ◽  
Vol 9 (2) ◽  
pp. 29-37
Author(s):  
A. Kovalev

The introductory part of the article is devoted to a brief overview of the typical methods of raising funds for a company’s capital. Then, I compared The pros and cons of each approach. Further, the author introduces the company’s new fundraising – through the merger with a SPAC (from now on referred to as the merger with SPAC). The article discusses the advantages and disadvantages of this option for a company to enter public capital markets or raise capital in a company compared to the already traditional methods – raising private capital and entering public capital markets through an IPO. As a result of this comparison, the author concludes that the merger with SPAC has the advantages of both classical options for raising capital, without their disadvantages, which makes this option a unique offer on the market. Statistical data confirmed this conclusion. The separate section in the article is devoted to the peculiarities and complexities of the merge with SPAC. The advantages of the merger with SPAC for the leading Russian companies compared with other types of capital raising are separately highlighted, and the contrast between the placement on the MICEX and the merger with SPAC. The article also presents statistics on the public capital market and the impact on the public market of the new opportunity for companies to go public. In the final section of the article, the author discloses the chain of events that brought the merger with a SPAC such a fame and popularity at the current moment in time. The article resulted in an explanation of the attractiveness of institutional investors’ investment of funds in companies that have chosen the merger with a SPAC as a potentiality for entering public capital markets.



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