Strategic Investment Decisions in Regulated Markets

Author: Christian Wernick

Publisher: Springer-Verlag

ISBN: 3835008420

Category: Business & Economics

Page: 224

View: 313

Most network industries throughout Europe are subject to sector-specific regulation with large impact on market structures and results. Consequently, questions related to regulatory designs and their effects on market outcomes become more and more important in business and politics as well as in scholarly research. Concentrating on Germany and the UK, Christian Wernick provides the reader with insights on the effects of different regulatory strategies, which take place under a common European regulatory framework. Combining theoretical analyses and empirical material a sophisticated and balanced picture on the coherences between regulation and investment behaviour in Germany’s and the UK’s broadband markets is presented.
Regulation of Infrastructure Markets

Author: Davide Maresca

Publisher: Springer Science & Business Media

ISBN: 9783642338205

Category: Law

Page: 266

View: 906

This casebook is an effort to explain infrastructure markets from a unique perspective: regulation. Regulation means the analysis of two main groups of laws, namely internal market and antitrust law. The aim is to find a uniform regulation applicable to infrastructures in the European common market through a direct reading and explanation of judicial opinions. The book is divided into five parts: two general chapters and three thematic chapters. The first chapter is an introduction to the main European law principles applicable to infrastructure markets. The second chapter applies the Services of General Interest doctrine to infrastructure markets: The key issue is the separation of the public administrations and the private companies operating infrastructures. The thematic chapters focus on seaports, railways and airports, respectively. The core of the examination is a dual perspective dealing with both the internal market rules and ensuring fair competition.
Market Infrastructure Regulation and the Financial Transaction Tax

Author: Caroline Heber


ISBN: OCLC:1308868702


Page: 37

View: 936

Based on the sensitivity of the European Financial Markets highlighted by the last financial crisis, the European Union is pushing for reforms of the existing regulatory framework and has also proposed a Financial Transaction Tax. Until now, the European Union has already adopted a Regulation on short selling and certain aspects of credit default swaps and a European Market Infrastructure Regulation aiming at over-the-counter derivatives markets. It currently debates reforming the Markets in Financial Instruments Directive and adopting a Markets in Financial Instruments Regulation and a Regulation on Central Securities Depositories. This strand of financial market regulation shall be complemented by a Financial Transaction Tax pushed forward through the enhanced cooperation mechanism.This article analyses the interplay between the financial market regulation, including the European Union's reform proposals, and the proposed Financial Transaction Tax. The authors will conclude that both strands of financial market regulation are not sufficiently coordinated.
Market Building through Antitrust

Author: Adrien de Hauteclocque

Publisher: Edward Elgar Publishing

ISBN: 9780857937742

Category: Technology & Engineering

Page: 14607

View: 925

By mixing legal, political and economic perspectives, this book will appeal to a wide range of readers from academia in law, economics and political science, regulatory and competition authorities, as well as legal and consulting practices and business
Running the World's Markets

Author: Ruben Lee

Publisher: Princeton University Press

ISBN: 9781400836970

Category: Business & Economics

Page: 472

View: 248

The efficiency, safety, and soundness of financial markets depend on the operation of core infrastructure--exchanges, central counter-parties, and central securities depositories. How these institutions are governed critically affects their performance. Yet, despite their importance, there is little certainty, still less a global consensus, about their governance. Running the World's Markets examines how markets are, and should be, run. Utilizing a wide variety of arguments and examples from throughout the world, Ruben Lee identifies and evaluates the similarities and differences between exchanges, central counter-parties, and central securities depositories. Drawing on knowledge and experience from various disciplines, including business, economics, finance, law, politics, and regulation, Lee employs a range of methodologies to tackle different goals. Conceptual analysis is used to examine theoretical issues, survey evidence to describe key aspects of how market infrastructure institutions are governed and regulated globally, and case studies to detail the particular situations and decisions at specific institutions. The combination of these approaches provides a unique and rich foundation for evaluating the complex issues raised. Lee analyzes efficient forms of governance, how regulatory powers should be allocated, and whether regulatory intervention in governance is desirable. He presents guidelines for identifying the optimal governance model for any market infrastructure institution within the context of its specific environment. Running the World's Markets provides a definitive and peerless reference for how to govern and regulate financial markets.
The European Market Infrastructure Regulation (United States of America Regulated Market Equivalence) Regulations 2022



ISBN: 0348234228


Page: 4

View: 410

Enabling power: Regulation (EU) No. 648/2012 of the European Parliament and of the Council, art. 2a (2) (4). Issued: 30.03.2022. Sifted: -. Made: 28.03.2022. Laid: 30.03.2022. Coming into force: 20.04.2022. Effect: None. Territorial extent & classification: E/W/S/NI. General. EC note: Commission Implementing Decision (EU) 2016/1073 revoked
International Finance

Author: Hal S. Scott


ISBN: 1599419750

Category: Law

Page: 1349

View: 377

This casebook is an authoritative introduction to international finance, transactions, policy, and regulations. The continuing expansion of U.S. capital market regulation is a major topic, as is the implementation of international accounting standards. The book is divided into five parts. Part One deals with the international aspects of major domestic markets; Part Two with infrastructure for financial markets; Part Three with instruments and offshore markets; Part Four with emerging markets; and Part Five with the fighting of terrorism. While the approach of this book is rooted in government policy and regulation, the book introduces students to basic financial concepts and transactions. The conception of the field is original and complements existing texts written for finance or economics courses. The book deals extensively with the financial crisis, including regulatory and legislative reforms that have followed in its wake.
Regulation and Markets

Author: Daniel F. Spulber

Publisher: MIT Press

ISBN: 0262192756

Category: Business & Economics

Page: 690

View: 736

Regulation and Markets provides the up to date, integrated analysis of regulatorypolicies and the administrative process that is needed in today's field of regulation economics. Thebook takes a modern perspective, using the tools of industrial organization and game theory. It isthe only unified treatment of the field and combines theoretical models with consideration of publicpolicy issues in the areas of antitrust, price regulation, environmental regulation, productquality, and workplace safety.The discussion considers both the welfare effects of regulation andthe institutional aspects of the administrative regulatory process. Developments in the fields oflaw and political science have been integrated in a rigorous manner into the economicframework.Sections of the book address administrative process and market allocation, competition andpricing under increasing returns to scale, administrative regulation of markets, and antitrustenforcement. The conclusion evaluates regulatory policy and deregulation. Extensive literaturecitations throughout enhance the books value as a reference.Daniel F. Spulber is Professor ofEconomics at the University of Southern California.
The telecommunication market in Germany. Regulation of natural monopolies

Author: Anna Rüttger

Publisher: GRIN Verlag

ISBN: 9783668196315

Category: Business & Economics

Page: 9

View: 425

Scientific Essay from the year 2015 in the subject Business economics - General, grade: 1,7, University of Applied Sciences Essen, course: VWL, language: English, abstract: This paper deals with the regulation of natural monopolies by the government. In general, regulation pursues the goal to guarantee equal opportunities within a market and to sustainably encourage competitive markets to the advantage of the consumer by affecting the conduct of the monopolist. A natural monopoly arises when a single firm is able to supply a good or service to an entire market at a lower cost than two or more firms. This failure of competition is the result of a specific market, in which variety of suppliers causes a decline of market output. For example this could happen when there are extremely high fixed costs, such as large-scale infrastructure needed to ensure supply (like cables and conductions regarding the telecommunications sector) and it is more efficient to only allow one firm to supply to the market. Allowing other firms entering the market would mean they had to duplicate all the fixed costs, which in turn states that competition would lead to inefficient duplication of resources. Usually, government intervention is necessary within natural monopolies, because in that case the existence of a monopoly is beneficial and efficient or even unavoidable, but negative effects, which could be a result of the position, need to be avoided. In a first step, this paper will refer to these negative effects, which can arise from a naturally monopolistic situation and lead to economic issues. Hence, you can conclude why natural monopolies need to get regulated. Subsequently, this paper will outline methods how to regulate a market, but due to the fact that there are many different opportunities, this paper will only refer to a few examples to give a small insight. In a final step, the paper will give an example of a current regulation system in Germany. In this case the regulation system will be the telecommunications sector. On the basis of this sector, it will be demonstrated if its regulation was successful and how the government tried to regulate the market.
The Role of Law and Regulation in Sustaining Financial Markets

Author: Niels Philipsen

Publisher: Routledge

ISBN: 9781317750406

Category: Business & Economics

Page: 368

View: 706

This book explores the role of law and regulation in sustaining financial markets in both developed and developing countries, particularly the European Union, United States and China. The central argument of this book is that law matters for the operation of financial markets, which, in turn, significantly influences the performance of firms, industries, and economies. The Role of Law and Regulation in Sustaining Financial Markets is divided into four parts. Part one addresses the connection between law, financial development, and economic growth. Part two deals with the role of financial regulation, which can be used to correct market failures, such as negative externalities, information asymmetries, and monopolies. Part three focuses on the design, functioning, and performance of different financial instruments. Part four examines the topic of Corporate Social Responsibility. This book contributes to the ‘law and finance’ literature by studying certain conventional issues, such as the relationship between finance and economic growth, and the effects of regulatory quality on financial development, from new perspectives and/or with new evidence, data, and cases. It also explores novel topics, such as project finance contracts, insurance and climate change, the shadow banking system, that have been overlooked in current literature. This book is meaningful not only for the EU and the US, which have suffered considerably from the financial crisis of 2008, but also for China, which is struggling to build a sound institutional infrastructure to govern its increasingly complicated financial system. By comparing the regulatory philosophies and practices of the EU, the US and China, this book will help the reader to understand the diverse nature of the global ‘law and finance’ nexus and avoid succumbing to the myth of "one size fits all".