Yıl 2014, Cilt: 1 Sayı : 4 Sayfalar 0 - 0 2015-10-16
DEMUTUALIZATION OF STOCK EXCHANGES AND STOCK MARKET GROWTH: BROADER ECONOMIC INVESTIGATION OF DEMUTUALIZED EXCHANGES
Sia Tahir ZULFİGAR
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Öz Stock exchanges are traditionally considered as “Brokers club” which inconsequence tarnishes the image of these markets in mind of the people. The advancement of the technology and media explosion have broader the wisdom of business in the field of the stock market. The demutualization is process where any shareholders become the member of company and receiving a mark able response in some countries of the world. The purpose of the study was to investigate whether demutualization lead to better stock market performance of the stock exchanges in all level of economies or for specific? Sample of the study was comprised of thirteen stock exchanges. The data of the study was collected from WFE website for each five years before and after the demutualization. Wilcoxon sign rank was used to evaluate the empirical data regarding the stock market growth of the stock exchanges after the demutualization. Wilcoxon sign rank test showed that stock exchanges are performing better in all level of economies after the demutualization in many dimension except in no of transactions in low level economies. The recommendations of the study are quite helpful for formulating policy of demutualization in Pakistan. The scope of the study can be extended to the other countries of the region and especially the developed countries where demutualization is being exercised.

Anahtar Kelimeler

Abou-Zied, K. (2005). Stock exchange demutualisation, public listing and performance,the case of the australian stock exchange. The university of new brunswick.
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Yayımlanma Tarihi 16 Ekim 2015
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Yayımlanma Tarihi : 16 Ekim 2015


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