文章基本信息

标题：Corporate "excesses" and financial market dynamics
本地全文：下载
作者：Angela Maddaloni ; Darren Pain
期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2004
出版社：European Central Bank
摘要：The recent highly publicised corporate failures in the US, such as Enron and WorldCom and, more recently, the Parmalat scandal in Italy, have sparked widespread debate about the operation of capital markets and the role of certain market participants and financial intermediaries. In particular, these episodes have served as a timely reminder that market failures exist even in deep and liquid capital markets and that, in certain circumstances, these can lead to serious resource misallocation.