Introduction: Economics and Organization of Financial Markets

Patrice Poncet () and Roland Portait
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Patrice Poncet: ESSEC Business School
Roland Portait: ESSEC Business School

Chapter 1 in Capital Market Finance, 2022, pp 1-35 from Springer

Abstract: Abstract Financial markets are useful for an effective allocation of both cash and risks among economic agents. Financial assets are precisely defined as sequences of future cash flows. The notions of financial market equilibrium, absence of arbitrage, informational efficiency, and liquidity are crucial to the understanding of these markets. The chapter also offers a typology of financial instruments, describes the different types of organization encountered, and outlines the various ways of listing and trading securities.

Date: 2022
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DOI: 10.1007/978-3-030-84600-8_1

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