Essays on Asymmetric Information in International Finance
Author : Aaron Hong Wai Low
Publisher :
Page : 394 pages
File Size : 18,98 MB
Release : 1992
Category : International finance
ISBN :
Asymmetric Information and the Market Structure of the Banking Industry
Author : Mr.Giovanni Dell'Ariccia
Publisher : International Monetary Fund
Page : 32 pages
File Size : 10,54 MB
Release : 1998-06-01
Category : Business & Economics
ISBN : 145195154X
Book Description
The paper analyzes the effects of informational asymmetries on the market structure of the banking industry in a multi-period model of spatial competition. All lenders face uncertainty with regard to borrowers’ creditworthiness, but, in the process of lending, incumbent banks gather proprietary information about their clients, acquiring an advantage over potential entrants. These informational asymmetries are an important determinant of the industry structure and may represent a barrier to entry for new banks. The paper shows that, in contrast with traditional models of horizontal differentiation, the steady-state equilibrium is characterized by a finite number of banks even in the absence of fixed costs.
Disrupting Finance
Author : Theo Lynn
Publisher : Springer
Page : 194 pages
File Size : 15,35 MB
Release : 2018-12-06
Category : Business & Economics
ISBN : 3030023303
Book Description
This open access Pivot demonstrates how a variety of technologies act as innovation catalysts within the banking and financial services sector. Traditional banks and financial services are under increasing competition from global IT companies such as Google, Apple, Amazon and PayPal whilst facing pressure from investors to reduce costs, increase agility and improve customer retention. Technologies such as blockchain, cloud computing, mobile technologies, big data analytics and social media therefore have perhaps more potential in this industry and area of business than any other. This book defines a fintech ecosystem for the 21st century, providing a state-of-the art review of current literature, suggesting avenues for new research and offering perspectives from business, technology and industry.
Essays on Capital Structure and Trade Financing
Author : Klaus Hammes
Publisher : Department of Economics School of Economics and Commercial Law Go
Page : 188 pages
File Size : 21,36 MB
Release : 2003
Category : Capital investments
ISBN :
Book Description
Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance
Author : El Bachir Boukherouaa
Publisher : International Monetary Fund
Page : 35 pages
File Size : 27,79 MB
Release : 2021-10-22
Category : Business & Economics
ISBN : 1589063953
Book Description
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Essays in International Finance
Author : Joshua David Coval
Publisher :
Page : 262 pages
File Size : 13,56 MB
Release : 1997
Category : Business enterprises
ISBN :
Book Description
International Finance and Financial Crises
Author : Mr.Peter Isard
Publisher : International Monetary Fund
Page : 304 pages
File Size : 10,58 MB
Release : 2000-01-24
Category : Business & Economics
ISBN : 9781557758347
Book Description
This book contains the proceedings of a conference held in honor of Robert P. Flood Jr. Contributors to the conference were invited to address many of the topics that Robert Flood has explored including regime switching, speculative attacks, bubbles, stock market voloatility, macro models with nominal rigidities, dual exchange rates, target zones, and rules versus discretion in monetary policy. The results, contained in this volume, include five papers on topics in international finance.
Asymmetric Information in Financial Markets
Author : Ricardo N. Bebczuk
Publisher : Cambridge University Press
Page : 176 pages
File Size : 41,77 MB
Release : 2003-08-21
Category : Business & Economics
ISBN : 9780521797320
Book Description
Asymmetric information (the fact that borrowers have better information than their lenders) and its theoretical and practical evidence now forms part of the basic tool kit of every financial economist. It is a phenomenon that has major implications for a number of economic and financial issues ranging from both micro and macroeconomic level - corporate debt, investment and dividend policies, the depth and duration of business cycles, the rate of long term economic growth - to the origin of financial and international crises. Asymmetric Information in Financial Markets aims to explain this concept in an accessible way, without jargon and by reducing mathematical complexity. Using elementary algebra and statistics, graphs, and convincing real-world evidence, the author explores the foundations of the problems posed by asymmetries of information in a refreshingly accessible and intuitive way.
The Theory and Practice of Financial Stability
Author : Andrew Crockett
Publisher :
Page : 62 pages
File Size : 22,79 MB
Release : 1997
Category : Capital market
ISBN :
Book Description
Exchange-Traded Funds and the New Dynamics of Investing
Author : Ananth N. Madhavan
Publisher : Oxford University Press
Page : 289 pages
File Size : 12,75 MB
Release : 2016-06-28
Category : Business & Economics
ISBN : 0190279419
Book Description
In Exchange-Traded Funds and the New Dynamics of Investing, Ananth Madhavan examines the quiet transformation of asset management through the rise of passive or index investing. A closely-related phenomenon is the rise of exchange-traded funds (ETFs). An ETF is an investment vehicle that trades intraday and seeks to replicate the performance of a specific index. ETFs have grown substantially in size, diversity, and market significance in recent years. These trends have generated considerable interest, especially from retail and institutional investors and increasingly from academics, regulators and the press. ETFs have the power to be a disruptive innovation to today's asset management industry because many traditional active managers and hedge funds deliver a significant fraction of their active returns via static exposures to factors like value. Indeed, for the first time ever, assets in global ETFs exceeded $3 trillion in 2015, passing the amount in hedge funds.
