Venture capital and the structure of capital markets: banks versus stock markets

Article Abstract:

Economies of scope among financial and nonfinancial contributions by venture capital providers and venture capital investors' demand for a quantitative measure of venture capital funds' skill, can identify the significance of an exit strategy. The possibility for exit through an initial public offering, attainable in a stock-market-centered capital market, enables the venture capitalist and the entrepreneur to negotiate over control.

Commercial Banks, Commercial Banking, Capital Management-Venture Capital, Debt & Capital Management, Banking industry, Management, Stock-exchange, Stock exchanges, Venture capital companies, Capital market, Capital markets, Venture capital, Financial management

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Stock splits: signaling or liquidity? The case of ADR 'solo-splits'

Article Abstract:

Stock splits are associated with significant stock price reactions upon announcement and execution. The market reaction to stock splits or announcements of stock dividends by non-US companies whose shares trade as American Depositary Receipts (ADR) are studied. Results show that the market reaction to ordinary stock splits could be a manifestation of the same liquidity effects that are at work with ADRs.

Research, American depository receipts, American depositary receipts, Marketing research, Market research, Stock splitting

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Short-term traders and liquidity: a test using Bombay Stock Exchange data

Article Abstract:

The Bombay Stock Exchange data showed that the market regards short-term traders as portraying an important positive role, with a larger advantage accumulating to the relatively less-liquid stocks. By utilizing various measures of liquidity, it was found that an important decrease in liquidity resulted after the eradication of the Badla system, which is the only facility for leveraged trading in India.

Statistics, Securities, Liquidity (Finance), Bombay, India, Bombay Stock Exchange Ltd.

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