Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "10290"
  #_source: array:26 [
    "id" => "10290"
    "slug" => "stock-exchanges-competition-in-a-simple-model-of-capital-market-equilibrium"
    "yearMonth" => "2008-01"
    "year" => "2008"
    "title" => "Stock exchanges competition in a simple model of capital market equilibrium"
    "description" => "RAMOS, S. et VON THADDEN, E.L. (2008). Stock exchanges competition in a simple model of capital market equilibrium. <i>Journal of Financial Markets</i>, 11(3), pp. 284-307."
    "authors" => array:2 [
      0 => array:3 [
        "name" => "RAMOS Sofia"
        "bid" => "B00683001"
        "slug" => "ramos-sofia"
      ]
      1 => array:1 [
        "name" => "VON THADDEN Ernst-Ludvig"
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:5 [
      0 => "Stock exchange competition"
      1 => "Capital markets equilibrium"
      2 => "Transactions costs"
      3 => "Home bias"
      4 => """
        Crossborder\n
        equity flows
        """
    ]
    "updatedAt" => "2021-07-13 14:31:31"
    "publicationUrl" => null
    "publicationInfo" => array:3 [
      "pages" => "284-307"
      "volume" => "11"
      "number" => "3"
    ]
    "type" => array:2 [
      "fr" => "Articles"
      "en" => "Journal articles"
    ]
    "support_type" => array:2 [
      "fr" => "Revue scientifique"
      "en" => "Scientific journal"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => """
        This paper uses a simple model of mean-variance capital markets equilibrium with proportional\n
        transactions costs to analyze the competition of stock markets for investors. We assume that equity\n
        trading is costly and endogenize transactions costs as variables strategically influenced by stock\n
        exchanges. Among other things, the model predicts that increasing financial market correlation leads\n
        to a decrease of transaction costs, an increase in cross-border trading activity, and to a decrease in the\n
        home bias of international equity flows. These predictions are consistent with the recent evolution of\n
        international stock markets.
        """
      "en" => """
        This paper uses a simple model of mean-variance capital markets equilibrium with proportional\n
        transactions costs to analyze the competition of stock markets for investors. We assume that equity\n
        trading is costly and endogenize transactions costs as variables strategically influenced by stock\n
        exchanges. Among other things, the model predicts that increasing financial market correlation leads\n
        to a decrease of transaction costs, an increase in cross-border trading activity, and to a decrease in the\n
        home bias of international equity flows. These predictions are consistent with the recent evolution of\n
        international stock markets.
        """
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2024-11-21T11:21:49.000Z"
    "docTitle" => "Stock exchanges competition in a simple model of capital market equilibrium"
    "docSurtitle" => "Journal articles"
    "authorNames" => "<a href="/cv/ramos-sofia">RAMOS Sofia</a>, VON THADDEN Ernst-Ludvig"
    "docDescription" => "<span class="document-property-authors">RAMOS Sofia, VON THADDEN Ernst-Ludvig</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2008</span>"
    "keywordList" => """
      <a href="#">Stock exchange competition</a>, <a href="#">Capital markets equilibrium</a>, <a href="#">Transactions costs</a>, <a href="#">Home bias</a>, <a href="#">Crossborder\n
      equity flows</a>
      """
    "docPreview" => "<b>Stock exchanges competition in a simple model of capital market equilibrium</b><br><span>2008-01 | Journal articles </span>"
    "docType" => "research"
    "publicationLink" => "<a href="#" target="_blank">Stock exchanges competition in a simple model of capital market equilibrium</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 8.953466
  +"parent": null
}