The literature suggests that demutualization improves financial performance, but most of
these studies do not consider the corporate governance (CG) dimension to better …

In recent years, stock exchanges have been increasingly integrating and merging their
activities at a national and international scale. While consolidation is often driven by …

This work is the product of detailed research into the organization and economics of the
securities and exchange industry. Actually, it is useful to distinguish the exchange (or inner) …

We investigate the market quality effects of stock exchange demutualization and find that
demutualized exchanges have achieved significant improvements in market quality …

This book is an economic analysis of the stock exchange industry. The authors draw on
theories from micro-and industrial economics to provide a detailed analysis of the industry …

Purpose The purpose of this paper is to study corporate governance restructuring strategies
of companies to adapt to new market conditions following conversion into a for-profit …

Purpose: The article analyzes the consequences of transformation in governance structures
of stock exchanges on their CSR initiatives, in particular relations between their …

Based on a dataset of 31 conventional and Islamic stock exchanges we compare financial
performance across these two groups for 2007–2011 period. Our results suggest that CEs …

This study uses the London Stock Exchange (LSE), forced to demutualize due to major
changes in its business environment, notably due to increased competition and …

Demutualization is the transformation of a securities exchange governance structure from a
mutual association of stockbrokers operating as not-for profit entity into a for-profit company …