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The Amsterdam options exchange in 1998:: How the supervisory authorities turned a problem into a crisis

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  • Dorsman, André
  • Buckley, Adrian

Abstract

In the great share price setbacks of 1987 and 1998, financial authorities, in The Netherlands, as elsewhere in the world, adopted policies to stabilise financial markets. The Dutch response was effective in the former case but, in the latter instance, the actions of authorities magnified problems, especially for equity options markets. Our analysis suggests that regulatory authorities pursued a course which corrected for turbulence when financial problems first occurred in 1998 but failed to monitor and restabilise. When a second setback in equity markets impacted later in the year, the original stabilising policy magnified problems rather than calming them.

Suggested Citation

  • Dorsman, André & Buckley, Adrian, 2001. "The Amsterdam options exchange in 1998:: How the supervisory authorities turned a problem into a crisis," European Management Journal, Elsevier, vol. 19(3), pages 286-290, June.
    • Handle: RePEc:eee:eurman:v:19:y:2001:i:3:p:286-290
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    Cited by:

    1. Sarkar, Soumodip & Osiyevskyy, Oleksiy, 2018. "Organizational change and rigidity during crisis: A review of the paradox," European Management Journal, Elsevier, vol. 36(1), pages 47-58.

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