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Der Neue Markt: Eine Bestandsaufnahme

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Theissen, E. Der Neue Markt: Eine Bestandsaufnahme. Journal of Contextual Economics – Schmollers Jahrbuch, 118(4), 623-652. https://doi.org/10.3790/schm.118.4.623
Theissen, Erik "Der Neue Markt: Eine Bestandsaufnahme" Journal of Contextual Economics – Schmollers Jahrbuch 118.4, 1998, 623-652. https://doi.org/10.3790/schm.118.4.623
Theissen, Erik (1998): Der Neue Markt: Eine Bestandsaufnahme, in: Journal of Contextual Economics – Schmollers Jahrbuch, vol. 118, iss. 4, 623-652, [online] https://doi.org/10.3790/schm.118.4.623

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Der Neue Markt: Eine Bestandsaufnahme

Theissen, Erik

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 118 (1998), Iss. 4 : pp. 623–652

1 Citations (CrossRef)

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Article Details

Theissen, Erik

Cited By

  1. Europe's Second Markets for Small Companies

    Vismara, Silvio

    Paleari, Stefano

    Ritter, Jay R.

    European Financial Management, Vol. 18 (2012), Iss. 3 P.352

    https://doi.org/10.1111/j.1468-036X.2012.00641.x [Citations: 194]

Abstract

The „Neuer Markt" is a new stock market segment for technology-oriented smallcaps. A new kind of intermediary, the „Betreuer", is partly responsible for the liquidity of the market. The present paper studies this new institution. An analysis of transaction and quotation data reveals that trading is active and that bid-ask spreads are low. Answers to a questionnaire reveal that the listed companies consider the new market segment to be successful.

The Betreuer position does not seem to be profitable in itself. There is some crosssubsidization from the underwriting business. This dependence should be considered before the Betreuer institution is, as is planned, transferred to other segments of the German stock market.