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| Author | : Moores Rowland (Firm) |
| Publisher | : |
| Total Pages | : |
| Release | : 1996 |
| Genre | : |
| ISBN | : |
| Author | : J. Board |
| Publisher | : Springer |
| Total Pages | : 177 |
| Release | : 2015-01-27 |
| Genre | : Business & Economics |
| ISBN | : 1137361301 |
The alternative investment market (AIM) has seen rapid growth over its 19 years, and has emerged as the market of choice for smaller, newer companies, both in the UK and abroad. However, it has often had a volatile reputation among investors, who have commonly perceived stock in the AIM as more risky than the main market. In this book, a group of leading financial analysts conduct an extensive empirical study to compare the relative volatility of two UK equity markets run by the London Stock Exchange, over a ten year period. They analyse the comparative risks involved in the alternative investment market, the market of growing companies, and the 'main market', the market for more established companies. This book analyses the volatility of the alternative investment market, using a variety of techniques and approaches. It compares the volatility of stocks in the markets, exploring variables such as size, industry, age and market switches. Using refined methods to focus on the difference between the markets, the authors provide a convincing study to challenge the idea that the alternative investment market is higher risk than the main market.
| Author | : Jonathan Hornok |
| Publisher | : |
| Total Pages | : 56 |
| Release | : 2015 |
| Genre | : |
| ISBN | : |
The Alternative Investment Market (“AIM”) of the London Stock Exchange is a twenty-year experiment in light securities regulation for small companies. The empirical literature shows that the AIM underperforms premier exchanges; however, this literature should not be taken as evidence that the AIM experiment is a failure, rather that the AIM serves a unique niche. In contrast to companies listing on premier exchange, those listing on the AIM do not undergo significant changes in ownership, control, and leverage after an initial public offering (“IPO”). Instead, these changes occur over time, if the company grows. This Article argues, based on the empirical literature, that the AIM fills a niche for companies and investors that fits between a premier exchange listing, which is difficult to attain, and remaining completely private, even aided by an issuer sponsored secondary market. From this middle ground, companies may successfully use the AIM as an on-ramp to a listing on the Main Market of the London Stock Exchange; however, less than one percent of companies are able to make this transition. Even if companies do not have the Main Market in their sights, the AIM serves as a structured liquidity market for existing investors. The Appendices to this Article present a detailed overview of the empirical findings from each of the reviewed studies.
| Author | : Jonathan Chan |
| Publisher | : |
| Total Pages | : |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
| Author | : Ranald Michie |
| Publisher | : OUP Oxford |
| Total Pages | : 696 |
| Release | : 2001-04-26 |
| Genre | : Business & Economics |
| ISBN | : 0191529346 |
In 2001, the London Stock Exchange will be 200 years old, though its origins go back a century before that. This book traces the history of the London Stock Exchange from its beginnings around 1700 to the present day, chronicling the challenges and opportunities it has faced, avoided, or exploited over the years. Throughout, the history seeks to blend an understanding of the London Stock Exchange as an institution with that of the securities market of which it was - and is - such an important component. One cannot be examined satisfactorily without the other. Without a knowledge of both, for example, the causes of the 'Big Bang' of 1986 would forever remain a mystery. However, the history of the London Stock Exchange is not just worthy of study for what it reveals about the interaction between institution and market. Such was the importance of the London Stock Exchange that its rise to world dominance before 1914, its decline thereafter, and its renaissance from the mid-1980s, explain a great deal about Britain's own economic performance and the working of the international economy. For the first time a British economic institution of foremost importance is studied throughout its entire history, with regard to the roles played and the constraints under which it operated, and the results evaluated against the background of world economic progress.
| Author | : Paul Watts |
| Publisher | : Jordans Pub |
| Total Pages | : 340 |
| Release | : 2002 |
| Genre | : Business & Economics |
| ISBN | : 9780853085881 |
The second edition of this popular title distills the experience gained from the Alternative Investment Market's first five years. It highlights the enormous changes which have affected the market since publication of the first edition 3 years ago, to provide an essential business guide for all AIM company advisers. These changes include the surprise performance of smaller companies and the impact of rapid growth in the IT sector. Co-written by a company lawyer and a stockbroker, the book is a practical hands-on reference on all the legal, financial and business issues that are likely to arise. It includes statutory materials, AIM rules, precedents and forms, combined Codes of Practice, and a list of useful names and addresses.
| Author | : Keith Hatchick |
| Publisher | : |
| Total Pages | : 297 |
| Release | : 1997 |
| Genre | : Investments |
| ISBN | : 9780853084068 |
The Alternative Investment Market (AIM), which replaces the Unlisted Securities Market, was launched in June 1995 by the London Stock Exchange, for companies seeking to raise capital but who prefer not to achieve a full market listing. This work offers a business guide to navigating the requirements and obligations of AIM membership. It provides a practical reference on all the legal, financial and business issues which can arise.
| Author | : Stephane Rousseau |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2008 |
| Genre | : |
| ISBN | : |
Stock exchanges are an important determinant of the competitiveness of Canadian capital markets. Regulators have recognized this fact when they have approved the consolidation of Canadian stock exchanges in 1999. The specialization of stock exchanges purported to enable them to cater more effectively to issuers and investors, and thereby to face the competition from foreign-based exchanges. Indeed, the competition has increased as foreign stock exchanges increasingly seek to attract listing from Canadian firms. In this respect, Canadian issuers' interest in listing on the Alternative Investment Market (AIM) of the London Stock Exchange (LSE) is a testament of this growing competition. Created in 1995 to allow companies to access public capital with a reduced regulatory burden, AIM has been extremely successful in attracting investors and issuers, including more recently a number of Canadian public companies. The attractiveness of AIM is intriguing for policymakers interested in the competitiveness of Canadian securities markets. Despite the interest generated by AIM, few studies have been devolved to this specialized stock exchange, either from an economic or regulatory perspective. And none of the existing studies has sought to analyze the relevance of the AIM model for Canadian stock exchanges, and, more broadly, the competitiveness of Canadian capital markets. From this perspective, the following analysis seeks to fill this research gap by providing a better understanding of AIM. Specifically, the objectives of this article are two-fold. First, this article examines the extent to which AIM has been successful with Canadian issuers. Second, it discusses whether the AIM model is informative for the regulatory approach followed by Canadian stock exchanges.
| Author | : Robert Ward |
| Publisher | : AP Publishing |
| Total Pages | : 33 |
| Release | : 2015-08-29 |
| Genre | : Business & Economics |
| ISBN | : 605041095X |
Stock market is where millions of pounds are made and lost in a year. I am sure you would have heard stories of people making a killing at the stock market and be tempted to invest in the UK stock market. I am an investor based out of London and have invested and made money in the share market. I cannot say that I have not lost in shares however I have done reasonably well on the London Stock Exchange. Of course there was no one to help me out so trial and error was my best friend initially. This book is an honest attempt at putting the stock market basics together so that beginners in the UK stock market know what they are doing and have the basic know how to understand the UK stock market. The topics that I cover are 1) Saving and Investing 2) Understanding The Stock Market For Beginners UK 3) How Does The Stock Market Work in UK? How does a stock Exchange work in UK? 4) What Are Stock Market Indices in UK? 5) How To Buy Stocks in UK? 6) Types Of Stocks UK in Stock Market 7) Long Term Investment Strategies vs Short Term Investment Strategies 8) ETF's for long term investing
| Author | : Jose Miguel Mendoza |
| Publisher | : |
| Total Pages | : 72 |
| Release | : 2011 |
| Genre | : |
| ISBN | : |
As stock exchanges faced intense competition over the past few years, the success of a London-based junior listing venue - the Alternative Investment Market (AIM) - drew the collective attention of international market participants. Despite AIM's success, the causes underlying its growth have not been the object of extensive academic analysis. This paper will focus on the recent outbreak of low-cost listing venues in international financial centers and AIM's dominance in this particular niche. It will be contended here that AIM covered a funding gap for companies whose specific characteristics preclude them from listing in senior markets such as NASDAQ, the New York Exchange or the London Stock Exchange. This paper also suggests that AIM's regulatory model is optimal for the UK market - imposing low compliance costs on firms, but ensuring adequate disclosure and transparency levels - given the type of companies that seek an AIM listing and the sophisticated nature of its investors.
