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The Speculative Nature of Stock Market

Author

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  • Bogdan-Gabriel FILIPESCU

    (Universitatea din Bucuresti, Romania)

Abstract

This paper focuses on the speculative nature of the stock market in Romania, emphasizing the basic rules and risks associated with stock transactions. On the one hand, the speculative nature may be considered as a mandatory feature of the stock market, for the purposes of supporting a fair and efficient functioning stock system. On the other hand, the term "speculative" can be also interpreted in a negative direction, i.e. in combination with market manipulation or market abuse. Related to this latter interpretation, the study refers to European legislation on market abuse, accepted market practices and those that constitute market manipulation.

Suggested Citation

  • Bogdan-Gabriel FILIPESCU, 2011. "The Speculative Nature of Stock Market," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 14(2), pages 527-534, December.
    • Handle: RePEc:rom:econmn:v:14:y:2011:i:2:p:527-534
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    File URL: https://www.management.ase.ro/reveconomia/2011-2/25.pdf
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    More about this item

    Keywords

    capital market; market abuse; market manipulation; risk; speculation; stock market.;
    All these keywords.

    JEL classification:

    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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