An effective capital market is one founded on the principles of trust and equality of opportunity. However, it is sometimes possible to observe market transactions and behaviour that violate these principles. Manipulation is defined as those activities aimed at the provision of unfair benefit stemming from the pricing of unjustified share values as reflected in irrational behaviour by certain market participants and the creation of unexpected volatility that misdirect investors . In order to protect individual investors, it is important that a strong legal framework is in place and that practical measures to eliminate any legal shortcomings and mispractices are rapidly implemented .Ensuring that a capital market is free from manipulation is an important factor in economic development.
|Translated title of the contribution||Manipulation in Stock Exchanges and Examples from ISE|
|Journal||Journal of Accounting and Finance, Association of Accounting and Finance Academicians (AAFA) Publications|
|Publication status||Published - Oct 2004|
- Manipulation, Market Efficiency, Investor Protection, Capital Market