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As an important part of modern financial systems, capital market has played a crucial role on diverse social resource allocations and economical exchanges. Beyond traditional models and/or theories based on neoclassical economics, considering capital markets as typical complex open systems, this paper attempts to develop a new approach to overcome some shortcomings of the available researches. By defining the generalized entropy of capital market systems, a theoretical model and nonlinear dynamic equation on the operations of capital market are proposed from statistical dynamic perspectives. The US security market from 1995 to 2001 is then simulated and analyzed as a typical case. Some instructive results are discussed and summarized.

In August 2015, the State Council of the People’s Republic of China listed China’s capital market for property-rights exchange as the capital market along with the Chinese stock market. Consequently, China’s capital market for property-rights exchange is an integral part of the country’s multilayered capital market. The COVID-19 pandemic has had significant effects on the capital markets. Since China’s capital market for property-rights exchange mainly serves nonlisted companies, it is complicated to obtain its exchange data to perform COVID-19’s effect analysis. This study investigates COVID-19’s effect on China’s capital market for property-rights exchange. In this paper, we collected the online property rights-exchange data from 2017 to 2020 of an electric trading platform. The functional principal component analysis method is innovatively introduced to explore the online property rights-exchange fluctuation to get an insight into COVID-19’s effect on China’s capital market for property-rights exchange. Based on the principal component scores, COVID-19’s effect on different property rights-exchange institutions are divided into two categories using principal component clustering. A time-series model is used to quantify the effects in the two categories. The research results finally show that online property rights-exchange can reduce the negative effect of COVID-19 on China’s capital market for property-rights exchange, which encourages property rights-exchange institutions to accelerate the use of the online platform to overcome the challenges of the pandemic.

Online social networks (OSNs) are a terrifically emerging platform for information dissemination around the world. Like other settings, acceptance and adoption of OSNs among the individual capital market investors are extensive. The study developed a conceptual model for behavioural finance integrating a technology acceptance model (TAM) and valence framework from the information systems and marketing disciplines, respectively. The integrated model added some persuasive constructs from social capital and diffusion innovation theory with a view to explore the key factors swaying investors’ intention to adopt and use the OSN’s services. By using an online and offline structured questionnaire, 510 data were collected from individual capital market investors in Bangladesh. Structural Equation Modelling (SEM) was used for data analysis. The study determined that the proposed integrated model with additional constructs outperformed other models. Perceived usefulness (PU), perceived enjoyment (PE), trust and personal innovativeness in IT (PIIT) had a substantial sway on the investor’s intention to use OSNs. Hedonic value is more robust predictor of intention to use OSNs than utilitarian value. Intention to use properly mediated the relationships and had strong significant impact on investor’s investment decision. But perceived ease of use (PEOU) and perceived risk had no direct significant effect on intention to use. PEOU had significant impact on intention to use through PU and PE. Gender moderated the relationships of different constructs with the intention to use OSNs for investment decisions in the capital market. It contributes knowledge by including the integration of different models in stock market perspectives and the inclusion of technological aspect in the behavioural finance literature. The findings of the study will also succor different firms and regulatory authorities to adopt OSNs as an information dissemination platform.

Experts and scholars are increasingly discussing the trend of US–China decoupling in the context of the two countries’ intensifying strategic conflict. This inevitable trend, though only in the early stages, has already had a significant impact in a variety of fields, including technology, investing, and banking, and is predicted to continue to grow in the future. In areas including capital markets, financial services, investments, and financial institutions, the paper clarifies the financial decoupling between the US and China. As a result of the two countries’ intense competitiveness with one another in a wide range of industries, there was a financial decoupling between the US and China. China is seeking to create its own system which includes independent financial institutions from the US-established or US-based institutions, thereby, creating independence and competing with US’s position. The US, for its part, has been proactive in conducting strong decoupling in the stock market by restricting investment in China and increasing scrutiny of the presence of some Chinese military-related companies on the US stock market. However, due to mutual interests, both countries seem to have the dilemma of separating from each other. The two countries continue the trend of decoupling but at the same time, increase cooperation in various areas including financial services. The decoupling process between the world’s two leading powers has a direct, multi-dimensional, lasting and profound impact not only on the two countries but also on the global system of institutions, rules and standards, in which the challenge side is bigger than the opportunity side. As a partner of both the US and China, Vietnam also faces direct challenges from the financial decoupling of these two powers.

Due to the recent global scandals of large corporations in the most developed markets of the world, the competition of emerging markets to attract global FDI and the decreasing returns of the global stock markets, corporate governance is the “hot” topic both in the world and in Turkey. The corporate governance framework in Turkey is characterized by concentrated ownership, often in the form of family-controlled, financial-industrial company groups. Following OECD principles, the Capital Markets Board of Turkey (CMB) published “Corporate Governance Principles of Turkey” in 2003. The principles are applied on a “comply or explain” basis for companies whose shares are listed on Borsa Istanbul (ISE).

This chapter focuses on the corporate governance practices of Borsa Istanbul (ISE) 50 companies. Firstly, a general picture of the corporate governance framework in Turkey is provided and secondly, Turkish Corporate Governance Principles are explained. The research section tries to present a clearer picture of Borsa Istanbul 50 firms' corporate governance practices through descriptive statistics. Although many areas are improving in the Turkish corporate governance practice, there remain some challenges ahead according to research results. Board independence for example, is one of the very important areas to be improved for Borsa Istanbul 50 companies.