IDEAS home Printed from https://ideas.repec.org/a/hyp/journl/v3y2015i1p38-43.html
   My bibliography  Save this article

Analyzing the Market Concentration of the Romanian Capital Market

Author

Listed:
  • Sorin-Iulian Cioaca

    () (Bucharest University of Economic Studies, Doctoral School of Finance)

Abstract

The market concentration is an important issue for the competition and supervision authorities, as they are entitled to find the proper measures assuring the stability and fair competition of the markets. In this article, we analyze the market concentration of the Romanian capital market, using the market share of every intermediary, for the 2007-2014 time period. We compute the concentration ratios for the first 4 and 8 largest intermediaries, finding that the Romanian capital market is not concentrated. But the recent trends show early phases of concentration, as the number of brokerage houses decline and the trading activity become concentrated in the first 8 brokerage houses.

Suggested Citation

  • Sorin-Iulian Cioaca, 2015. "Analyzing the Market Concentration of the Romanian Capital Market," Hyperion Economic Journal, Faculty of Economic Sciences, Hyperion University of Bucharest, Romania, vol. 3(1), pages 38-43, March.
  • Handle: RePEc:hyp:journl:v:3:y:2015:i:1:p:38-43
    as

    Download full text from publisher

    File URL: http://hej.hyperion.ro/articles/1(3)_2015/HEJ%20nr1(3)_2015_Y1Cioaca.pdf
    Download Restriction: no

    More about this item

    Keywords

    capital market; concentration risk; HHI index;

    JEL classification:

    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hyp:journl:v:3:y:2015:i:1:p:38-43. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Iulian Panait). General contact details of provider: http://edirc.repec.org/data/fehypro.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.