Đang chuẩn bị nút TẢI XUỐNG, xin hãy chờ
Tải xuống
All quoted companies should seek to have a diverse range of investors on their share register. Typically, the majority will comprise a range of institutional investors who will invest according to a range of criteria, in the main dictated by the structure and requirements of the funds they manage. Institutions tend to be longer-term investors, whereas private investors, who will comprise the balance of the register, often have shorter-term aspirations. Private investor interests may be driven by changing sentiment towards industry sectors; perceived value opportunities (such as a valuation anomaly); by income (an attractive yield); or by tax-efficiency, although. | EUROPEAN CENTRAL BANK WORKING PAPER SERIES WORKING PAPER NO. 119 MONETARY POLICY AND THE STOCK MARKET IN THE EURO AREA BY NUNO CASSOLA AND CLAUDIO MORANA January 2002 EUROPEAN CENTRAL BANK WORKING PAPER SERIES WORKING PAPER NO. 119 MONETARY POLICY AND THE STOCK MARKET IN THE EURO AREA BY NUNO CASSOLA AND CLAUDIO MORANA January 2002 Acknowledgements This paper was written while Claudio Morana was visiting the Monetary Policy Strategy Division Directorate Monetary Policy Directorate-General Economics at the ECB. Financial support by the ECB is gratefully acknowledged. The authors are grateful to an anonymous referee A. Beltratti F. C. Bagliano R. Mosconi and to participants in ECB internal seminars for comments and suggestions and to Manfred Kremer who saved us from some mistakes. Remaining errors are of course our own. The views expressed in this paper are those of the authors and do not necessarily reflect those of the European Central Bank. Address for correspondence Nuno Cassola ECB Kaiserstrasse 29 D-60311 Frankfurt am Main Germany. E-mail nuno.cassola@ecb.int Claudio Morana Università del Piemonte Orientale Facoltà di Economia Dipartimento di Scienze Economiche e Metodi Quantitativi Via Lanino 1 28100 Novara Italy. E-mail morana@eco.unipmn.it. EuropeanCentralBank 2002 Address Kaiserstrasse 29 D-603II Frankfurt am Main Germany Postal address Postfach 16 03 19 D-60066 Frankfurt am Main Germany Telephone Internet Fax Telex 49 69 1344 0 http www.ecb.int 49 69 1344 6000 411 I44ecbd All rights reserved. Reproduction for educational and non-commercial purposes is permitted provided that the source is acknowledged. The views expressedin this paper are those of the authors and do not necessarily reflect those of the European Central Rank. ISSN .
