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

Paperback | December 15, 2012

byDariusz Wojcik

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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 therelationships 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 toinvestors, companies issuing stocks, exchanges, analysts, investment banks, and policy-makers.

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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 frictio...

Dariusz Wojcik'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) d...

other books by Dariusz Wojcik

Format:PaperbackDimensions:224 pages, 9.21 × 6.14 × 0.07 inPublished:December 15, 2012Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:019966630X

ISBN - 13:9780199666300

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Table of Contents

1. Introduction to the Map of the Global Stock Markets2. Biased Listings: Proximity in Domestic Primary Markets3. The Footprint of Foreign Listings: the Pursuit of Issuers from Emerging Markets4. Biased Investors: Proximity in Secondary Markets5. Investors under Pressure: New York, London, and Hong Kong in 2008-20096. Embedded Stock Exchanges: Between Real and Virtual Space7. Towards Global Stock Exchange Groups: Ownership and Location8. Global Stock Markets Re-drawn: Stock Market Centres and their Future