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The Speculative Nature of Stock Market

Author(s): Bogdan-Gabriel FILIPESCU

Journal: Economia : Seria Management
ISSN 1454-0320

Volume: 14;
Issue: 2;
Start page: 527;
Date: 2011;
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Keywords: capital market | market abuse | market manipulation | risk | speculation | stock market

This paper focuses on the speculative nature of the stock market in Romania, emphasizing the basic rules and risks associated with stock transactions. On the one hand, the speculative nature may be considered as a mandatory feature of the stock market, for the purposes of supporting a fair and efficient functioning stock system. On the other hand, the term "speculative" can be also interpreted in a negative direction, i.e. in combination with market manipulation or market abuse. Related to this latter interpretation, the study refers to European legislation on market abuse, accepted market practices and those that constitute market manipulation.
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Tango Jona
Tangokurs Rapperswil-Jona