[PDF] Competition For Listings eBook

Author : Thierry Foucault
Publisher :
Page : 45 pages
File Size : 31,78 MB
Release : 2013
Category :
ISBN :

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We develop a model in which two profit maximizing exchanges compete for IPO listings. They choose the listing fees paid by firms wishing to go public and control the trading costs incurred by investors. All firms prefer lower costs, however firms differ in how they value a decrease in trading costs. Hence, in equilibrium, the exchanges obtain positive expected profits by charging different trading fees and different listing fees. As a result, firms that list on different exchanges have different characteristics. The model has testable implications for the cross-sectional characteristics of IPOs' on different quality exchanges and the relationship between the level of trading costs and listing fees. We also find that competition does not guarantee that exchanges choose welfare maximizing trading rules. In some cases, welfaire is larger with a monopolist exchange than with oligopolist exchanges.

Author : Ryan Serhant
Publisher : Hachette UK
Page : 210 pages
File Size : 41,36 MB
Release : 2018-09-18
Category : Business & Economics
ISBN : 0316449563

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This national bestseller is a lively and practical guide on how to sell anything and achieve long-term success in business. Ryan Serhant was a shy, jobless hand model when he entered the real estate business in 2008 at a time the country was on the verge of economic collapse. Just nine years later, he has emerged as one of the top realtors in the world and an authority on the art of selling. Sell It Like Serhant is a smart, at times hilarious, and always essential playbook to build confidence, generate results, and sell just about anything. You'll find tips like: The Seven Stages of Selling How to Find Your Hook; Negotiating Like A BOSS; How to Be a Time Manager, Not a Time Stealer; and much more! Through useful lessons, lively stories, and vivid examples, this book shows you how to employ Serhant's principles to increase profits and achieve success. Your measure of a good day will no longer depend on one deal or one client, wondering what comes next; the next deal is already happening. And Serhant's practical guidance will show you how to juggle multiple deals at once and close all of them EVERY. SINGLE. TIME. Whatever your business or expertise, Sell It Like Serhant will make anyone a master at sales. Ready, set, GO! Sell It Like Serhant is a USA Today Bestseller, Los Angeles Times Bestseller, and Wall Street Journal Bestseller.

Author : Robert A. Schwartz
Publisher : Springer Science & Business Media
Page : 127 pages
File Size : 22,78 MB
Release : 2009-03-02
Category : Business & Economics
ISBN : 0387759433

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Competition between market centers is a driving force for innovation, dynamic growth, and reasonable pricing structures. Consolidating the order flow amasses liquidity, sharpens price discovery, and lowers trading costs. This book addresses such timely topics as the impact of technology on financial markets and includes contributions from prominent academics, policymakers and professionals in the field. It is the latest title in established conference proceedings series.

Author : Felix Treptow
Publisher : Springer Science & Business Media
Page : 123 pages
File Size : 14,52 MB
Release : 2007-11-03
Category : Business & Economics
ISBN : 3835093118

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Felix Treptow examines the changing relationship between exchanges and issuers, analyses the micro- and macroeconomic drivers of the demutualization decision, and investigates its impact on market liquidity. He presents a detailed analysis of both the determinants as well as the consequences of the demutualization of securities exchanges.