Disruptive Change and the Capital Markets : : On Information, Risk and Uncertainty / / Marius Fischer.

• Superior document: Title is part of eBook package: De Gruyter DG Plus DeG Package 2023 Part 1
• VerfasserIn: Fischer, Marius,
• Place / Publishing House: Berlin ;, Boston : : De Gruyter, , [2023]; ©2023
• Year of Publication: 2023
• Language: English
• Series: Schriften zum Europäischen und Internationalen Privat-, Bank- und Wirtschaftsrecht ; 65
• Physical Description: 1 online resource (XVIII, 298 p.)
• Other title: Frontmatter --; Foreword --; Contents --; List of Abbreviations --; Part One --; A. Introduction --; B. A Thought on Optimal Regulation --; Part Two --; C. What is Disruptive Change? --; D. Disruptive Change and the Market Mechanism --; Part Three --; E. Disruptive Change and Regulation --; F. A Process-oriented Approach to Informational Regulation --; Part Four --; G. Responding to Disruptive Change --; H. Further Research and Related Issues --; I. Main Theses --; References
• Format: Mode of access: Internet via World Wide Web.
• ISBN: 9783111045238; 9783111175782; 9783111319292; 9783111318912; 9783111319148; 9783111318226
• DOI: 10.1515/9783111045238
• Access: restricted access
• Hierarchical level: Monograph
• Statement of Responsibility: Marius Fischer.

The risk-based approach to capital markets regulation is in crisis. Climate change, shifting demographics, geopolitical conflicts and other environmental discontinuities threaten established business models and shorten the life spans of listed companies. The current rules for periodic disclosure in the EU fail to inform market participants adequately. Unlike risks, uncertainties are unquantifiable or may only be quantified at great cost, causing them to be insufficiently reflected in periodic reports. This is unfortunate, given the pivotal role capital markets must play in the economy’s adaptation to environmental discontinuities. It is only with a reformed framework for periodic disclosure, that gradual and orderly adaptation to these discontinuities appears feasible. To ensure orderly market adaptation, a new reporting format is required: scenario analysis should be integrated into the European framework for periodic disclosure.