Reasons and forms of consolidation of stock exchanges

Alina Gorczyńska

Abstract


Today we observe numerous consolidations among stock exchanges. These processes have a  different character. These are capital-merger: mergers, acquisitions, joint ventures, vertical integration and non-capital ones: agreements, contracts, strategic alliances, which involve the lending of resources, especially technology. Theory of economics as the main reasons for the integration of stock exchanges mentions: economies of scale and economies of scope and network externalities.

Keywords


giełda papierów wartościowych; konsolidacja; korzyści skali; korzyści zakresu; efekt zewnętrzny sieci

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DOI: http://dx.doi.org/10.17951/h.2013.47.3.187
Date of publication: 2015-07-23 22:18:14
Date of submission: 2015-07-20 14:09:15


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