Publication type: | Article in scientific journal |
Type of review: | Editorial review |
Title: | Vertrauen im Kapitalmarkt |
Authors: | Bärtschi, Harald Hirschi, Yannick |
et. al: | No |
Published in: | Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht |
Volume(Issue): | 2017 |
Issue: | 6 |
Page(s): | 771 |
Pages to: | 791 |
Issue Date: | 2017 |
Publisher / Ed. Institution: | Schulthess |
ISSN: | 1662-8705 |
Language: | German |
Subject (DDC): | 332: Financial economics |
Abstract: | Trust is an essential element of a capital market. The market participants want to be confident that the other actors behave as expected. Financial market regulation supports the underlying expectations by ensuring transparency, prohibiting market abuses, stipulating various duties and imposing sanctions or liability in the event of breach. The objectives of most regulation, i.e., the protection of investors and the proper functioning of the market, relate to trust either on an individual or a collective level. The legislation should, however, take into account that the perception of investors is adversely affected in a variety of ways, as behavioral finance shows. Not every investor acts like the ideal homo oeconomicus, and overcoming structural information asymmetries among the market participants by imposing additional information duties is not sufficient. The importance of trust will not expire in future capital markets using blockchain technology. Nevertheless, the basis of trust will be modified: Trust in financial institutions, central counterparties and other intermediaries will be replaced to some extent by trust in the technical system. The financial market legislator has to meet the upcoming challenges and to ensure that trust will remain the implied essence of each capital market which functions properly. |
URI: | https://digitalcollection.zhaw.ch/handle/11475/19431 |
Fulltext version: | Published version |
License (according to publishing contract): | Licence according to publishing contract |
Departement: | School of Management and Law |
Organisational Unit: | Institute of Enterprise Law (IUR) |
Appears in collections: | Publikationen School of Management and Law |
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Bärtschi, H., & Hirschi, Y. (2017). Vertrauen im Kapitalmarkt. Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht, 2017(6), 771–791.
Bärtschi, H. and Hirschi, Y. (2017) ‘Vertrauen im Kapitalmarkt’, Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht, 2017(6), pp. 771–791.
H. Bärtschi and Y. Hirschi, “Vertrauen im Kapitalmarkt,” Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht, vol. 2017, no. 6, pp. 771–791, 2017.
BÄRTSCHI, Harald und Yannick HIRSCHI, 2017. Vertrauen im Kapitalmarkt. Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht. 2017. Bd. 2017, Nr. 6, S. 771–791
Bärtschi, Harald, and Yannick Hirschi. 2017. “Vertrauen im Kapitalmarkt.” Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht 2017 (6): 771–91.
Bärtschi, Harald, and Yannick Hirschi. “Vertrauen im Kapitalmarkt.” Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht, vol. 2017, no. 6, 2017, pp. 771–91.
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