The browser you are using is not supported by this website. All versions of Internet Explorer are no longer supported, either by us or Microsoft (read more here: https://www.microsoft.com/en-us/microsoft-365/windows/end-of-ie-support).

Please use a modern browser to fully experience our website, such as the newest versions of Edge, Chrome, Firefox or Safari etc.

Routes to Equity Market Integration – the interplay between Politicians, Investors and Managers

På svenska

Author

  • Lars Oxelheim

Summary, in English

Most econometric studies of equity market integration suggest that national markets are increasingly becoming part of a global equity market. As regards the extent of this integration, however, the results are often inconclusive. Further analysis calls for a closer scrutiny of the basic requirements for perfect integration. This paper presents an analysis of market segmentation in terms of existing regulatory and informational wedges, based on conditions in the Nordic welfare states. It is found that no barriers remain to cross-border equity market transactions, nor consequently to the perfect global integration of Nordic equity markets in a capital-flow perspective. However, certain residual cross-border tax wedges do challenge the view of perfect equity market integration. Further, continuing cross-border information gaps for small and medium-sized companies indicate the presence of a two-tier equity market integration.

Publishing year

2001

Language

English

Pages

183-211

Publication/Series

Journal of Multinational Financial Management

Volume

11

Issue

2

Document type

Journal article

Publisher

Elsevier

Topic

  • Business Administration
  • Economics and Business

Keywords

  • Equity market integration
  • Foreign equity issue
  • Cross-listing

Status

Published

ISBN/ISSN/Other

  • ISSN: 1873-1309