Technological Development and Concentration of Stock Exchanges in Europe.

This paper provides an explanation of technical inefficiencies of financial exchanges in Europe as well as an empirical analysis of their existence and extent. A single-stage stochastic cost frontier approach is employed, which generates exchange inefficiency scores based on a unique unbalanced panel data set for all major European financial exchanges over the period 1985-1999.

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Year of publication:	2001
Authors:	Schmiedel, H.
Subject:	EFFICIENCY \| TECHNOLOGICAL CHANGE \| STOCK MARKET

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Type of publication:	Book / Working Paper
Notes:	37 pages
Classification:	C33 - Models with Panel Data ; D24 - Production; Capital and Total Factor Productivity; Capacity ; G20 - Financial Institutions and Services. General ; G28 - Government Policy and Regulation ; L22 - Firm Organization and Market Structure: Markets vs. Hierarchies; Vertical Integration ; O52 - Europe
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005660782