Dream Exchange Director of Research Dr. Ioannis Floros Shares Insights on Capital Formation in the Pharmaceutical Industry at European Finance Conferences Attracting Academics from Institutions Worldwide

CHICAGO, Aug. 13, 2025 /PRNewswire/ -- Dream Exchange, a stock exchange in formation, today announced that its Director of Research, Dr. Ioannis V. Floros, in his capacity as the Hans G. Storr Associate Professor at the University of Wisconsin-Milwaukee, presented and served as a discussant at two leading international finance conferences in Cyprus this summer. Dr. Floros shared research insights that are illustrative of his commitment to academic rigor and the advancement of business and economic theory. This same commitment is invaluable to the Dream Exchange's mission of creating a new, accessible, and liquid public market for small and mid-sized companies.

Dr. Floros participated in the Financial Management & Accounting Research Conference (FMARC 2025) in Paphos and the 2025 Financial Management Association European Conference in Limassol.  At both conferences, Dr. Floros presented his latest scholarly work, "Interfirm collaboration, ownership stakes, and incomplete contracts: Evidence from the pharmaceutical industry," which was co-authored with Professors Matthew T. Billett and Xuan Tian. The research provides a detailed analysis of how companies structure strategic alliances; particularly how ownership stakes and contractual designs influence the success of these collaborations. The FMARC 2025 recognized Dr. Floros for his outstanding discussion in this year's conference.

"We are not just building another exchange; we are building a solution to one of the most significant problems in our economy—the access gap to public capital," said Joe Cecala, Founder and CEO of Dream Exchange. "Dr. Floros's work is a cornerstone of our effort and his pertinent research will help us evaluate which small to mid-cap issuer after resolving major agency conflicts, will be ready to "graduate" and have its stock traded in the public market. His participation on the global stage demonstrates that our mission and our analyses are supported by world-class research and a deep understanding of market structure."

Dr. Floros added, "In the study I was invited to present this year in Europe, we show that complex and ongoing relationships are more likely to involve an equity stake. We report a positive association of ownership stakes and competition and argue that ownership stakes help reduce relationship costs. Our findings suggest that ownership stakes mitigate ex-ante relationship costs associated with interfirm collaboration. Overall, our results suggest ownership agreements between firms can be used to expand the boundaries of the firm. This paper's findings could help with the valuation of innovative companies leading risky and highly competitive projects which we expect will be also onboarding our Exchange."

About Dream Exchange

The Dream Exchange's Form 1 Application has been formally filed with the Securities and Exchange Commission ("SEC") and notice was given to the public for comment.  While the period for public comment has technically expired, Dream Exchange stands ready, willing and able to answer all questions from the public as well as the SEC. When approved, it will become the first minority-controlled company to operate a licensed stock exchange in the history of the United States.  Dream Exchange is currently in the process of preparing its operations for when it receives approval. In addition, Dream Exchange is championing the creation of a new type of stock exchange called a venture exchange, which will list and trade the securities of smaller, early-stage companies. Dream Exchange's mission is to create equal access to a marketplace that instills ethics, humanity, and fairness into finance.

Visit our www.dreamex.com for more.

MEDIA CONTACT
Robert Todd 
PR Manager Dream Exchange
773-914-1182
[email protected] 

SOURCE Dream Exchange