Ownership and corporate governance of stock exchanges

Article Abstract:

Stock markets have been set up all over the world, with the end of the Soviet Union acting as a stimulus to their formation. Johannes Kondgen's paper on the topic can help in assessing the best way of organizing exchanges, but he does not set out a particular form of organization as desirable. Ownership is important in assessing whether an organizational structure is efficient. Conflicts could also occur among stakeholders. Kondgen focuses on the history of stock exchanges, but technological change is a key issue that has to be understood to asses the future of stock exchanges.

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Ownership and corporate governance of stock exchanges

Article Abstract:

Johannes Kondgen argues that stock exchanges can be seen as firms, which raises the question of how they can also be markets. He answers this by arguing that their product is the organization of markets. There are underlying issues such as why these firms exist, and what corporate governance structures are for the securities market. There are a number of institutional alternatives, and they should be analyzed through the application of a comparative institutional perspective.

Securities law

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