Three Essays on Financial Market Innovation
Author : Mondschean Thomas Herbert
Publisher :
Page : 422 pages
File Size : 37,77 MB
Release : 1989
Category :
ISBN :
Author : Mondschean Thomas Herbert
Publisher :
Page : 422 pages
File Size : 37,77 MB
Release : 1989
Category :
ISBN :
Author : Iván Blanco
Publisher : Ed. Universidad de Cantabria
Page : 90 pages
File Size : 33,3 MB
Release : 2019-02-15
Category : Business & Economics
ISBN : 8481028770
Do financial derivatives enhance or impede innovation? We aim to answer this question by examining the relationship between equity options markets and standard measures of firm innovation. Our baseline results show that firms with more options trading activity generate more patents and patent citations per dollar of R&D invested. We then investigate how more active options markets affect firms' innovation strategy. Our results suggest that firms with greater trading activity pursue a more creative, diverse and risky innovation strategy. We discuss potential underlying mechanisms and show that options appear to mitigate managerial career concerns that would induce managers to take actions that boost short-term performance measures. Finally, using several econometric specifications that try to account for the potential endogeneity of options trading, we argue that the positive effect of options trading on firm innovation is causal.
Author : Martin Shubik
Publisher : MIT Press
Page : 472 pages
File Size : 25,52 MB
Release : 1999
Category : Business & Economics
ISBN : 9780262693110
This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.
Author : Rong-Chang Wu
Publisher :
Page : 304 pages
File Size : 37,65 MB
Release : 1996
Category : Capital investments
ISBN :
Author : Jeremy Atack
Publisher : Cambridge University Press
Page : 497 pages
File Size : 33,68 MB
Release : 2009-03-16
Category : Business & Economics
ISBN : 1139477048
Collectively, mankind has never had it so good despite periodic economic crises of which the current sub-prime crisis is merely the latest example. Much of this success is attributable to the increasing efficiency of the world's financial institutions as finance has proved to be one of the most important causal factors in economic performance. In a series of insightful essays, financial and economic historians examine how financial innovations from the seventeenth century to the present have continually challenged established institutional arrangements, forcing change and adaptation by governments, financial intermediaries, and financial markets. Where these have been successful, wealth creation and growth have followed. When they failed, growth slowed and sometimes economic decline has followed. These essays illustrate the difficulties of co-ordinating financial innovations in order to sustain their benefits for the wider economy, a theme that will be of interest to policy makers as well as economic historians.
Author : Tse-Chun Lin
Publisher : Rozenberg Publishers
Page : 146 pages
File Size : 49,83 MB
Release : 2009
Category :
ISBN : 9036101514
Author : Conglin Xu
Publisher :
Page : 258 pages
File Size : 19,79 MB
Release : 2011
Category :
ISBN :
Author : Lamia Obay
Publisher : Routledge
Page : 211 pages
File Size : 35,65 MB
Release : 2014-01-14
Category : Business & Economics
ISBN : 1135690340
This book investigates the motivations behind the adoption of the technique of asset securitization by US commercial banks and its effects on the financial performances.
Author : Avner Greif
Publisher : Princeton University Press
Page : 438 pages
File Size : 16,25 MB
Release : 2020-05-26
Category : Business & Economics
ISBN : 0691202737
This book brings together a group of leading economic historians to examine how institutions, innovation, and industrialization have determined the development of nations. Presented in honor of Joel Mokyr—arguably the preeminent economic historian of his generation—these wide-ranging essays address a host of core economic questions. What are the origins of markets? How do governments shape our economic fortunes? What role has entrepreneurship played in the rise and success of capitalism? Tackling these and other issues, the book looks at coercion and exchange in the markets of twelfth-century China, sovereign debt in the age of Philip II of Spain, the regulation of child labor in nineteenth-century Europe, meat provisioning in pre–Civil War New York, aircraft manufacturing before World War I, and more. The book also features an essay that surveys Mokyr's important contributions to the field of economic history, and an essay by Mokyr himself on the origins of the Industrial Revolution. In addition to the editors, the contributors are Gergely Baics, Hoyt Bleakley, Fabio Braggion, Joyce Burnette, Louis Cain, Mauricio Drelichman, Narly Dwarkasing, Joseph Ferrie, Noel Johnson, Eric Jones, Mark Koyama, Ralf Meisenzahl, Peter Meyer, Joel Mokyr, Lyndon Moore, Cormac Ó Gráda, Rick Szostak, Carolyn Tuttle, Karine van der Beek, Hans-Joachim Voth, and Simone Wegge.
Author : Frank Joseph Shulman
Publisher : Hong Kong University Press
Page : 878 pages
File Size : 39,25 MB
Release : 2001-01-01
Category : Language Arts & Disciplines
ISBN : 9789622093973
A descriptively annotated, multidisciplinary, cross-referenced and extensively indexed guide to 2,395 dissertations that are concerned either in whole or in part with Hong Kong and with Hong Kong Chinese students and emigres throughout the world.