金融市场与金融机基础(第17章) 英文版答案.docVIP

ANSWERS TO QUESTIONS FOR CHAPTER 17 Questions are in bold print followed by answers. 1. What are the three factors contributing to the significant changes in the common market over the past 50 years? The stock markets have also changed since the early 1960s, due to 1 institutionalization small investors now play only a minor role ; 2 changes in government regulations, e.g. disclosure, types of trades, margin requirements; 3 innovations, e.g. computer technology permits program trading. 2. a. How does common stock differ from preferred stock? b. Why is preferred stock viewed as a seni