Spanish stock market structure and the introduction of the derivate securities on the IBEX-35 index

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Published 11-02-2001
José Emilio Farinós Viñas Matilde Fernández Blanco

Abstract

The debate about whether derivatives introduction and trading affect the underlying market stability persists for more than two decades. In this paper we deal with this question from a new perspective. Concretely, we investigate the impact on the underlying stock market structure of the IBEX-35 option and future listing. In this way, we define and identify the Spanish stock market structure for the whole period of study; and, afterwards, we analyse the effects that the new derivatives markets introduction has had on the stock market structure. Our results agree with others authors conclusions: though no generalised and essential change on the stock market structure have taken place, the new derivatives markets introduction seems to have affected a short number of firms included in the IBEX-35 index.

How to Cite

Farinós Viñas, J. E., & Fernández Blanco, M. (2001). Spanish stock market structure and the introduction of the derivate securities on the IBEX-35 index. Cuadernos De Gestión, 1(1), 115–139. https://doi.org/10.5295/cdg.18826jf
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