Wielkość rynku a ochrona inwestora w europejskich alternatywnych systemach obrotu
Size of market vs. investor protection on European Alternative Investment Markets

Summary/Abstract: The relation between legal protection of investors in a country and the development of its financial market was studied before. However, previous research was always focused on regulated markets. There is a negative correlation between market size and a degree of investor protection on European AIMs, which is opposite to the results from previous research on regulated markets. It can be related to different issuers intention, like capital squeeze, so they are more likely to enter markets with higher degree of information asymmetry.

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