کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5091189 | 1375665 | 2007 | 16 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Interlinking securities settlement systems: A strategic commitment?
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
Central securities depositories (CSDs) in Europe have opened mutual links, but most of them are seldom used. Why are idle links established? By allowing a foreign CSD to offer services through the link, the domestic CSD invites competition. By inviting competition the domestic CSD can commit itself not to charge monopoly fees for secondary market services. This enables it to charge higher fees for securities issuance in the primary market. It is shown that commitment via an idle link can be optimal for a profit maximising CSD.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Banking & Finance - Volume 31, Issue 10, October 2007, Pages 2962-2977
Journal: Journal of Banking & Finance - Volume 31, Issue 10, October 2007, Pages 2962-2977
نویسندگان
Karlo Kauko,