Investor protection and stock market development. Empirical approach on the European Union case
A fundamental objective of stock market regulation is investor protection, which influences the stability and the degree of development of capital markets. We use eleven years (2006-2016) of panel data from the World Bank, on the evolution of minority shareholders' protection. This paper aims...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Bucharest University of Economic Studies
2019-03-01
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| Series: | Juridical Tribune |
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| Online Access: | http://www.tribunajuridica.eu/arhiva/An9v1/9.%20MILOS_MILOS%20EN.pdf |
| _version_ | 1827290876171255808 |
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| author | Marius Cristian Miloş Laura Raisa Miloş |
| author_facet | Marius Cristian Miloş Laura Raisa Miloş |
| author_sort | Marius Cristian Miloş |
| collection | DOAJ |
| description | A fundamental objective of stock market regulation is investor protection, which influences the stability and the degree of development of capital markets. We use eleven years (2006-2016) of panel data from the World Bank, on the evolution of minority
shareholders' protection. This paper aims at understanding the connection between regulation and the development of capital markets, both for developed and emerging European Union countries. The results are consistent with some of the results from
empirical research in law, demonstrating a positive link between investor protection and stock market development during the analyzed period, after controlling for other drivers of stock market development, such as GDP growth and level of taxation. The results outline the importance of stock market regulation, making clear that minority shareholder regulation and its enforcement should be further improved in the European Union member states. |
| first_indexed | 2024-04-24T12:26:14Z |
| format | Article |
| id | doaj.art-54f7acc3ff534f8a9800f7b5e6efc65c |
| institution | Directory Open Access Journal |
| issn | 2247-7195 2248-0382 |
| language | English |
| last_indexed | 2024-04-24T12:26:14Z |
| publishDate | 2019-03-01 |
| publisher | Bucharest University of Economic Studies |
| record_format | Article |
| series | Juridical Tribune |
| spelling | doaj.art-54f7acc3ff534f8a9800f7b5e6efc65c2024-04-08T07:43:04ZengBucharest University of Economic StudiesJuridical Tribune2247-71952248-03822019-03-0191113125Investor protection and stock market development. Empirical approach on the European Union caseMarius Cristian Miloş0Laura Raisa Miloş 1PhD Candidate in Law, Faculty of Law, West University of Timisoara; Faculty of Economics and Business Administration, West University of Timisoara, RomaniaFaculty of Economics and Business Administration, West University of Timisoara, RomaniaA fundamental objective of stock market regulation is investor protection, which influences the stability and the degree of development of capital markets. We use eleven years (2006-2016) of panel data from the World Bank, on the evolution of minority shareholders' protection. This paper aims at understanding the connection between regulation and the development of capital markets, both for developed and emerging European Union countries. The results are consistent with some of the results from empirical research in law, demonstrating a positive link between investor protection and stock market development during the analyzed period, after controlling for other drivers of stock market development, such as GDP growth and level of taxation. The results outline the importance of stock market regulation, making clear that minority shareholder regulation and its enforcement should be further improved in the European Union member states.http://www.tribunajuridica.eu/arhiva/An9v1/9.%20MILOS_MILOS%20EN.pdfminority shareholder protectionregulationstock market developmentEuropean UnionGMM system |
| spellingShingle | Marius Cristian Miloş Laura Raisa Miloş Investor protection and stock market development. Empirical approach on the European Union case Juridical Tribune minority shareholder protection regulation stock market development European Union GMM system |
| title | Investor protection and stock market development. Empirical approach on the European Union case |
| title_full | Investor protection and stock market development. Empirical approach on the European Union case |
| title_fullStr | Investor protection and stock market development. Empirical approach on the European Union case |
| title_full_unstemmed | Investor protection and stock market development. Empirical approach on the European Union case |
| title_short | Investor protection and stock market development. Empirical approach on the European Union case |
| title_sort | investor protection and stock market development empirical approach on the european union case |
| topic | minority shareholder protection regulation stock market development European Union GMM system |
| url | http://www.tribunajuridica.eu/arhiva/An9v1/9.%20MILOS_MILOS%20EN.pdf |
| work_keys_str_mv | AT mariuscristianmilos investorprotectionandstockmarketdevelopmentempiricalapproachontheeuropeanunioncase AT lauraraisamilos investorprotectionandstockmarketdevelopmentempiricalapproachontheeuropeanunioncase |