Dr Alperen Gözlügöl's research cited in FT on decline of public equity markets

Dr Alperen Gözlügöl’s research was recently cited in the Financial Times by columnist John Plender in an article examining the decline of public equity markets and policymakers’ responses to it. Plender argues that the emphasis on financial deregulation and the relaxation of listing rules risks misdiagnosing the causes of the decline in listed companies. In discussing the UK, he draws on Dr Gözlügöl’s research, highlighting its finding that there is little evidence of a funding gap for British firms. Dr Gözlügöl’s article examines recent developments in UK public markets and the motivations behind the regulatory overhaul intended to revive them. It argues that regulation has become a convenient scapegoat for the difficulties facing the London Stock Exchange, but was neither their root cause nor is deregulation likely to resolve them. Drawing on a comparison of UK and US regulation and an assessment of the wider market ecosystem, the article identifies structural factors beyond regulation that are hindering the competitiveness of the London market.