[ad_1] A common denominator of market-based financial system like that of United States and U.K and bank-based financial system such as that of Germany or France is investor protection. The United States has a market-based system because its economy is largely dependent on property and financial asset value. Consequently, it has a large stock and bond markets creating a large market which attracts investors and companies from all over the world. This presupposes that the stock market and individuals (that…