FIN American Capital Markets
- Read the following articles (can be downloaded from Blackboard). Pick
any one article (discuss your choice with me), per group (about 5 students
per group), and present a 15-20 minute overview of the article. The
focus should be on how market structures have economic implications
and how markets affect economic values.
Alternatively, read the
June 14th article in the Wall Street Journal, entitled "Eurex
Futures Market Enters the Forex Fray," about the Eurex market.
Research the issue and present a report on how the Eurex plans to compete
with the CME and the NYBOT, as well as with the over-the-counter markets
in the currency futures market.
- Handa, Puneet; Robert Schwartz and Ashish Tiwari. 2004. "The
Economic Value of a Trading Floor: Evidence from the American Stock
Exchange," Journal of Business, v. 77, no. 2, pp. 331-355
- Chung, Kee H.; and Chairat Chuwonganant. 2004. "Tick Size,
Order Handling Rules, and Trading Costs," Financial Management,
v. 33, no. 1, Spring, ppp. 47-62.
- Masulis, Ronald; and Lakshmanan Shivakumar. 2004. "Does Market
Structure affect the Immediacy of Stock Price Responses to News?"
Journal of Financial and Quantitative Analysis, v. 37, no.
4, pp. 617-648.
- Fong, Kingsley; Ananth Madhavan and Peter L. Swan. 2004. "Upstairs,
Downstairs: Does the Upstairs Market Harm the Downstairs?" Working
Paper,School of Banking and Finance, University of New South Wales,
Sydney, NSW 2052 Australia.
- Rajan, Raghuram G.; and Luigi Zingales. 1998. "Financial Dependence
and Growth," The American Economic Review, v. 88, no.
3, pp. 559-586.
- Levine, Ross; and Sara Zervos. 1998. "Stock Markets, Banks,
and Economic Growth," The American Economic Review,
Vol. 88, No. 3. (Jun., 1998), pp. 537-558.