title: Modeling the impact of stock exchange migration on trading volumes in competing markets
metadata.name: dc.contributor.author
metadata.value: Vorontsovskiy, Alexey V.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2023-03-30T12:33:47Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2023-03-30T12:33:47Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2023-03
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Vorontsovskiy, A. V. and Bazhanova, N. A. (2023) ‘Modeling the impact of stock exchange migration on trading volumes in competing markets’, St Petersburg University Journal of Economic Studies, 39 (1), pp. 3–32. https://doi.org/10.21638/spbu05.2023.101 (In Russian)
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu05.2023.101
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/39442
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: This article examines the impact of a stock exchange’s migration on its trading activity and
  the performance of competing markets. It examines the importance of the location of trading
  floors for all market participants; analyzes the relationship between the location of a trading
  floor and the speed of transactions in the stock market, as well as the impact of accelerating
  transactions on trading activity. The migration of the Euronext exchange from Paris to Basildon
  on September 25, 2010, was chosen as the event under study. The method of matched
  pairs demonstrates the possibility of rationalizing of experimental and control sample for further
  analysis and modeling of the impact of the relocation of the considered stock market on
  its and competing exchange’s performance. It is illustrated multidirectional changes in the
  shares of the value volume of trading and the number of transactions on the Euronext exchange
  itself and four competing markets. In order to model the impact of the migration of
  the exchange the method of “difference-in-differences” is suggested, that bases on the use of
  experimental and control samples and on the construction of regression equations of a special
  kind. Theoretical bases, advantages and disadvantages of the application of the method of “difference
  of differences” in the analysis of the impact of certain events on economic results were analyzed. Empirical estimates showed a different expected increase in the value of trading
  volume after the event on the Euronext and Chi-X Europe exchanges. It is noted that as a result
  of the migration, the Euronext exchange became closer to the alternative trading floors located
  in London. This accelerated the execution of transactions between them, and stimulated the
  alternative markets to become more competitive, faster and more fully reflect the changes
  taking place on the main Euronext Paris market.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: St Petersburg University Journal of Economic Studies;Volume 39; Issue 1
metadata.lang: -
metadata.name: dc.subject
metadata.value: impact of events on economic performance
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: stock exchange migration
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: matched pairs
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: difference-in-differences
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: experimental and control sample
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: speed of exchange transactions
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Modeling the impact of stock exchange migration on trading volumes in competing markets
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 01.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/39442/1/01.pdf
resources.format: Adobe PDF
resources.size: 971,37 kB