Can Digital Technology Make Self-Listed Firms More Efficient?

14 Pages Posted: 24 Mar 2022

See all articles by Shann Turnbull

Shann Turnbull

International Institute for Self-Governance; Sustainable Money Working Group; New Garden City Alliance

Date Written: March 20, 2022

Abstract

This article investigates if digital technology could allow corporations to trade their own shares more efficiently without the costs and unethical systemic dysfunctional governance processes introduced by Stock Exchanges? Some of the major Stock Exchanges trade their own securities, as do many other types of firms, illustrating that autonomous trading is a common and a viable option. Stock exchanges deny disclosing the identity of share traders that can be price sensitive information creating inefficiencies. Identity disclosure and other self-regulating corporate governance options are identified. The article recommends these options be tested in regulatory sandboxes created to promote financial innovations.

Keywords: Firm efficiency, Market efficiency, Self-listing, Stock-exchanges, Sunlight trading

JEL Classification: D02, D22, D47, D52, D63, D82, G14, G38, K22, O16

Suggested Citation

Turnbull, Shann, Can Digital Technology Make Self-Listed Firms More Efficient? (March 20, 2022). Available at SSRN: https://ssrn.com/abstract=4020819 or http://dx.doi.org/10.2139/ssrn.4020819

Shann Turnbull (Contact Author)

International Institute for Self-Governance ( email )

PO Box 266 Woollahra
Cell: +61418222378
Sydney, New South Wales 1350
Australia
+61293278487 (Phone)
+61280655905 (Fax)

HOME PAGE: http://independent.academia.edu/ShannTurnbull/CurriculumVitae
SKYPE: shann.turnbull

Sustainable Money Working Group ( email )

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United Kingdom

New Garden City Alliance ( email )

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London, UK, hello@gardencities.org.uk SE1 3TA
United Kingdom
+44 207 378 1902 (Phone)

HOME PAGE: http://www.gardencities.org.uk

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