On competition for listings
AbstractWe construct a model whereby stock exchanges take a new role as an information intermediary, notably absent in their roles. We show that exchanges differentiate themselves at subgame perfect equilibrium and will not race to the top or to the bottom.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 114 (2012)
Issue (Month): 3 ()
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Web page: http://www.elsevier.com/locate/ecolet
Information intermediary; Reputation capital; Listing requirements;
Find related papers by JEL classification:
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- G1 - Financial Economics - - General Financial Markets
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
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NBER Working Papers
8538, National Bureau of Economic Research, Inc.
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