The Global Stock Market Issuers, Investors, and Intermediaries in an Uneven World

Author: Dariusz Wójcik
Publisher: Oxford University Press
ISBN: 9780199592180
Published In: May 2011
Format: Hardback , 220 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

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Author

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Empirical data and case studies from around the world
Analytic focus on recent trends and future developments
Introduces an alternative theory of stock market centres and their networks
Clear description of how the global stock market works

Why do some companies stay out of stock markets? How crucial are stock markets for competition between financial centres? How can local information help investors outperform the market?

Whilst mainstream financial economics treats stock markets as consisting of anonymous actors interacting in space, with no consideration of the friction caused by distance or geography, this book offers a comprehensive and up-to-date picture of the global stock market by focusing on the relationships between issuers, investors, and intermediaries, and how these relationships impact on the performance of stock markets and the economy of cities, countries, and the world.

The book uses rich data and global case studies to examine the rise of emerging markets, the impact of the global financial crisis, the revolution in the stock exchange business model, and the continued dominance of London and New York as stock market centres.

Drawing on economic geography, financial economics, sociology, history, and globalization studies, the book explores the geographical constitution and footprint of stock markets and contributes to the broader debate on the role of stock markets in the global economy. Its conclusions are relevant to investors, companies issuing stocks, exchanges, analysts, investment banks, and policy-makers.

Readership: Academics, researchers, and students in Business, Finance, and Economics; investors, companies issuing stocks, exchanges, analysts, investment banks; and policy-makers.

1: Introduction to the Map of the Global Stock Markets
2: Biased Listings: Proximity in Domestic Primary Markets
3: The Footprint of Foreign Listings: the Pursuit of Issuers from Emerging Markets
4: Biased Investors: Proximity in Secondary Markets
5: Investors under Pressure: New York, London, and Hong Kong in 2008-2009
6: Embedded Stock Exchanges: Between Real and Virtual Space
7: Towards Global Stock Exchange Groups: Ownership and Location
8: Global Stock Markets Re-drawn: Stock Market Centres and their Future

Dariusz Wójcik, Lecturer at the School of Geography and the Environment, Oxford University, and Fellow of St. Peter's College Oxford

Dariusz Wójcik's research focuses on economic geography, corporate governance, and finance; he has written papers for the Journal of Economic Geography, Economic Geography, Annals of the Association of American Geographers, and Regional Studies. His previous book co-authored with Gordon L. Clark The Geography of Finance(OUP 2007) documents the emerging global market for corporate governance and its impact on European economies. His research has been reported in The Financial Times and The Financial News. Prior to his appointment as Lecturer at the School of Geography and the Environment and Fellow of St. Peter's College Oxford, he lectured at the University College London, the London School of Economics and Political Science, and worked as a consultant for KPMG. He holds an MSc in Geography from Jagiellonian University, an MSc in Economics from the Cracow Academy of Economics, an MSc in Banking and Finance from Stockholm University, and a D.Phil from Oxford University.