Work

Is the U.S. Capital Market Losing its Competitive Edge?

Year: 2007

Type: preprint

Abstract: In this paper I analyze the competitiveness of the U.S. equity markets by studying the recent trend in the share of global IPOs they are able to attract. I find that the U.S. equity market share has dropped dramatically from 2000 to 2005. This drop cannot be explained by changes in the geographical or the sectoral composition of IPOs. The most likely cause is a combination of an improvement in the competitors (mostly European equity markets) and an increase in the compliance costs for publicly traded companies.

Source: SSRN Electronic Journal

DOI: 10.2139/ssrn.1028701

Author: Luigi Zingales

Institutions: National Bureau of Economic Research, University of Chicago, Centre for Economic Policy Research

Language: English

Topic: Finance, Markets, and Regulation

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W7213228682

Cites: 26

Cited by: 111

Related to: 10