{"title":"Innovations In Financial Markets And Institutions","description":null,"products":[{"product_id":"crisis-and-change-in-the-japanese-financial-system-book-takeo-hoshi-9780792377832","title":"Crisis and Change in the Japanese Financial System","description":"At the start of the twenty-first century, the Japanese  financial system is undergoing a major transformation. This process is  spurred by a sense of crisis. Dominated by large institutions, the  Japanese banking system has suffered from serious problems with  non-performing loans since the early 1990s, when the Japanese stock  market and urban real estate market both crashed. Delays in responding  to these twin asset bubbles, by both regulatory authorities and the  banks themselves, made matters worse and led to a banking crisis in  late 1997 and early 1998. Not anticipating this setback, in late 1996  the Japanese government inaugurated its Big Bang of comprehensive  financial deregulation designed to complete the process of creating  `free, fair, and open financial markets'. Beginning in late 1998 and  early 1999 the government finally embarked on a major rehabilitation  of the Japanese banking system, including making available some Yen 60  trillion (approximately USD 500 billion) of government funds to  recapitalize fifteen major banks, adequately fund the deposit  insurance program, and write off the bad loans of nationalized or  bankrupted banks. One result of this reform process is that the  Ministry of Finance (MOF), which dominated Japanese financial system  policy for most of the post-war period, has been stripped of most of  its former regulatory powers.    The purpose of this book is to describe, analyze, and evaluate the  process that is transforming the Japanese financial system. The  chapters address various issues relating to the transition of the  Japanese financial system from a bank-centered and relationship-based  system to a competitive market-based system. Questions taken up  include: Why did Japanese banks get into such serious trouble? Why has  the MOF lost its immense power? How will the Big Bang's financial  deregulation further change the Japanese financial system, including  the huge government financial institutions and postal savings system?  What are some of the broader implications of this transition?    The book is divided into three parts: Part I considers the origins of  Japan's banking crisis; Part II focuses on five particularly important  areas of major actual and potential changes; Part III addresses the  effects of the Big Bang, including its potential systemic  externalities. Taken together, this book offers an unusually  up-to-date, comprehensive and thorough appraisal and evaluation of the  profound changes occurring in Japan's financial system.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51007124373777,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51007127290129,"sku":"NIN9780792377832","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52125836738833,"sku":"NLS9780792377832","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0792377834.jpg?v=1751329507"},{"product_id":"governing-banking-s-future-markets-vs-regulation-book-catherine-england-9789401057219","title":"Governing Banking's Future: Markets vs. Regulation","description":"Risk-based capital standards presume a need for common capital standards across countries. The details of forging an agreement were left to the staffs of the primary bank regulators in each country, and compromises were inevitable. Although domestic constituencies' reactions to the proposals were invited, the arduous negotiations that led to the proposals generated intense pressure on the principals not to make changes. The European Community's approach to financial integration seems to be driven by a political desire to achieve an integrated market within Europe, despite significant institution al differences among countries. Underlying that desire is a belief that the market pressures that result from different regulatory systems operating in the same market will produce the right answer . The financial provisions of the U .S.-Canada free-trade agreement take a direction that, in my judgment, is more productive. The provisions are more limited in scope than are those of the European initiative. National treatment and national sovereignty are preserved. However, the delicate issue of national responsibility for failing institutions, and its relationship to monetary policies, is not addressed. A Better Alternative A productive basis for international regulation can be formulated around three principles: 1. free entry for foreign-owned subsidiaries chartered under the laws of the host country; 2. national treatment for those subsidiaries; and 3. national responsibility for (a) monetary policy, (b) prevention of unwarranted financial panics in domestically chartered institutions, whether foreign or domestically owned, and (c) supervision of all domestically chartered institutions, regardless of ownership.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51084139397393,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51084140904721,"sku":"NIN9789401057219","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52142539571473,"sku":"NLS9789401057219","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9401057214.jpg?v=1751417814"},{"product_id":"causes-and-costs-of-depository-institution-failures-book-allin-f-cottrell-9789401042901","title":"The Causes and Costs of Depository Institution Failures","description":"One of the major financial market events of the 1980s was the  precipitous rise of depository institution failures including banks,  savings and loan associations, and credit unions. Not since the 1930s  has there been a similar period of turmoil in these industries. The  events of the 1980s have inspired a renewed interest in the causes and  cost of financial institution failure and several questions that had  seldom been asked in the post-World War II economics literature have  resurfaced    Why do financial institutions fail?    What are the costs of their failure?    How do they differ  from other firms and industries?    What are the implications for  financial market regulation?      The Causes and Costs of  Depository Institution Failures critically surveys and extends  previous analyses of these questions.    Audience: Scholars and researchers in the areas of money and  banking, financial institutions, and financial markets, as well as  regulators and policymakers.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51244231491857,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51244233294097,"sku":"NIN9789401042901","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52136257880337,"sku":"NLS9789401042901","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/940104290X.jpg?v=1753788241"},{"product_id":"theory-of-production-for-the-financial-firm-book-diana-hancock-9780792391401","title":"A Theory of Production for the Financial Firm","description":"Furthermore, if the effects of regulations on user costs are excluded, it is impossible to analyze monetary policy effects. Chapter 2 examines the principal areas of regulation that affect user costs. For example, reserve requirements, as administered by the Federal Reserve, act as a tax on financial firms so covered. Required reserves earn no return to the financial firm and there is foregone revenue. Deposit insurance increases the user cost of servicing deposits to the banks. Interest rate regulations place limits on interest rates on time de posits, or prohibit payments on demand deposits during part of the period studied. Underlying all these are the open market operations of the Federal Reserve, and their effects on interest rates and the quantities of financial goods. Chapter 2 reveals that previous work on the estimation of bank tech nologies is incomplete, and that the regulations require modelling as a part of the profit maximizing structure. 1.3 User Cost Derivation Chapter 3 discusses the construction of user costs. These are derived for the services from all assets or liabilities on a bank balance sheet or appearing on the income statement. The user cost formulation permits goods to be classified as outputs and inputs. Those with a positive user cost, where expenditures per unit exceed revenues per unit, are inputs. The unit for financial goods such as loans or deposits is one dollar per period. Goods with a negative user cost, with expenditures falling below revenue per unit, are outputs.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52126555832593,"sku":"NLS9780792391401","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780792391401.jpg?v=1757476932"},{"product_id":"causes-and-costs-of-depository-institution-failures-book-allin-f-cottrell-9780792396345","title":"The Causes and Costs of Depository Institution Failures","description":"One of the major financial market events of the 1980s was the  precipitous rise of depository institution failures including banks,  savings and loan associations, and credit unions. Not since the 1930s  has there been a similar period of turmoil in these industries. The  events of the 1980s have inspired a renewed interest in the causes and  cost of financial institution failure and several questions that had  seldom been asked in the post-World War II economics literature have  resurfaced    Why do financial institutions fail?    What are the costs of their failure?    How do they differ  from other firms and industries?    What are the implications for  financial market regulation?      The Causes and Costs of  Depository Institution Failures critically surveys and extends  previous analyses of these questions.    Audience: Scholars and researchers in the areas of money and  banking, financial institutions, and financial markets, as well as  regulators and policymakers.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52127365693713,"sku":"NLS9780792396345","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":52740068278545,"sku":"NIN9780792396345","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780792396345.jpg?v=1757486037"},{"product_id":"asian-economy-and-finance-book-dilip-k-das-gupta-9780387233819","title":"Asian Economy and Finance:","description":"Preface Acknowledgments About the Author 1: ASIAN ECONOMY: THE HERITAGE 1.1 Past is Prelude to the Future 1.2 Alternative Historical Perspective on Asian Economy 1.3 Economic Linkages and Interactions in the Second Millennium 1.4 Quantitative Dimensions of Growth 1.5 Past Trends in Trade 1.6 Industrial Revolution and Its Aftermath 1.7 Asian Economic 'Miracle' of the Post-War II Era 1.8 Summary and Conclusion 2: ECONOMIC DIVERSITY IN ASIA 2.1 Heterogeneity 2.2 High-Performing Economic Sub-Groups 2.3 Regional Economies and Economic Groupings 2.4 Japan-the Domineering Regional Economy 2.5 Contrasting the Two Populous Giants 2.6 Newly Industrialized Asian Economies 2.7 Southeast Asian Economies 2.8 Post-Crisis Performance 2.9 Summary and Conclusions 3: MARKET-DRIVEN REGIONALIZATION IN ASIA 3.1 Introduction 3.2 Trends in Intra-Regional Trade and Investment 3.3 Impact of Other RIAs on the Asia-Pacific Economies 3.4 Need for Regional Co-operation in the Aftermath of the Crisis 3.5 Impediments to Regionalization 3.6 Conclusions and Summary 4: CONTEMPORARY INITIATIVES IN INSTITUTIONALIZED REGIONAL INTEGRATION 4.1 Regional Integration and the Global Economy 4.2 Agglomeration or Clustering Effect 4.3 Institutionalized Regional Economic Integration 4.4 ASEAN-Plus-Three Grouping 4.5 Asia-Pacific Economic Co-operation Forum 4.6 Bilateral Trade Agreements 4.7 Summary and Conclusion 5: TRADE, COMPETITIVENESS AND FOREIGN INVESTMENT AND THE LINKAGES AMONG THEM 5.1 Outer-Orientation: The Strategic Stance 5.2 Trade Performance 5.3 Growing Cohesion in Trading Pattern 5.4 Competitiveness in Global Market Place 5.5 Regional Trends in FDI 5.6 Integrated Production Networks and Refinement of Comparative Advantage 5.7 Outsourcing in ICT and Business-Process Services 5.8 China's WTO Accession and its Regional Ramifications 5.9Summary and Conclusion 6: FINANCIAL SECTOR DEVELOPMENT: STRUCTURE, INSTITUTIONS AND MARKETS 6.1 Financial Sector: Chink in the Asian Armor 6.2 The Quality Continuum 6.3 Financial Market Structure and Country Classification 6.4 Carrying out Financial Market Development 6.5 Banking Sector 6.6 Intermediate Financial Structure 6.7 Bond Markets 6.8 Regional Bond Market 6.9 Equity Markets 6.10 Risk Management 6.11 Conclusions and Summary 7: POST-CRISIS REGIONAL ECONOMIC COOPERAT1ON AND THE EMERGING FINANCIAL ARCHITECTURE 7.1 Realistic Dimension of the Asian Crisis 7.2 Launching the Chiang Mai Initiative 7.3 Multilateral and Bilateral Swap Arrangements 7.4 Future Challenges for the Chiang Mai Initiative 7.5 Pros and Cons of Institutionalized Regional Cooperation 7.6 Predilection for a Regional Financial and Monetary Institution 7.7 Augmenting Foreign Exchange Reserves Holdings 7.8 Monetary and Central Banking Cooperation 7.9 Evolution of Exchange Rate Regimes 7.10 Lessons from the EU Experience 7.11 Monitoring and Surveillance 7.12 Summary and Conclusions Bibliography Index","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52133462933777,"sku":"NLS9780387233819","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780387233819.jpg?v=1757530842"},{"product_id":"bank-mergers-current-issues-and-perspectives-book-benton-e-gup-9789401076401","title":"Bank Mergers: Current Issues and Perspectives","description":"Historians of our financial system will record this as an age of deregulation and bank mergers. Deregulation, a cornerstone of President Reagan's Administration, resulted in federal and state legislation that contributed to increased competition for financial services and increased merger activity. During the 1981-1986 period, there were 2,139 mergers in banking and finance, accounting for 16 percent of total merger activity.l More mergers occurred in banking and finance than in any other industry. Because of these bank mergers, there are vast amounts of data avail- able for scholarly research. This book presents some results of that research which will be of interest to academics, bankers, investors, legislators, and regulators. The book consists of ten articles, and it is divided into three parts. Part 1: National and Regional Bank Mergers gives a broad perspective of merger activity. The first article by Peter S. Rose compared the growth of bank holding companies that merged with those that did not merge. One conclusion of his study was that banks planning mergers tended to be aggressively managed and were often beset by problems, such as low profitability or declining loan quality. Mergers were one solution to their problems. But he found no solid evidence that mergers resulted in greater profitability or reduced risk. He also observed that acquiring banks did not seem to grow faster than those choosing not to merge.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52135180271889,"sku":"NLS9789401076401","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9789401076401.jpg?v=1757547648"},{"product_id":"closed-end-investment-companies-book-seth-anderson-9780792392293","title":"Closed-End Investment Companies","description":"Closed-End Investment Companies (CEICs) were the dominant form  of investment companies in the United States during the early part of  this century, but interest in them declined after the 1929 stock  market crash. Since 1985, however, there has been a significant  revival of interest in CEICs.    A substantial amount of academic research has focused on the nature of  closed-end funds, discounts and premiums, and on the share price  behavior of these firms, which often results in the prices differing  from the net asset value of the shares.    This book is designed for the academic researcher interested in CEICs  and the practitioner interested in using CEICs as an investment  vehicle. The authors summarize the evolution of CEICs, present the  factors that cause CEIC shares to trade at different levels from their  net asset values, provide a complete survey of the academic literature  on this topic, and summarize the current state of research on CEICs.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52139195466001,"sku":"NLS9780792392293","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780792392293.jpg?v=1757567631"},{"product_id":"financial-services-revolution-book-catherine-england-9789401079716","title":"The Financial Services Revolution","description":"In Chapter 5, William Shughart also considers the part that politics played in banking legislation during the 1930s, but he looks at the banking legislation passed in the United States. Shughart draws par- ticular attention to the provisions in the Banking Act of 1933 that required the separation of commercial and investment banking activ- ities. Applying a public choice analysis, Shughart asks who gained from the provisions, and he concludes that the commercial banking industry, the investment banking industry, and the U. S. Treasury Department can all be said to have benefited in the years immedi- ately following the passage of the act. Richard Timberlake, in his comment, extends Shughart's analysis to show how the federal gov- ernment manipulated the monetary policy of the 1930s for its own benefit. The history of the regulation of the savings and loan industry is the subject of Chapter 6. James Barth and Martin Regalia examine the way in which regulation of the industry has evolved since the first savings and loan was established in the 1830s. They conclude that the stated purpose of regulation appears to have changed, even while the regulations themselves often have not. Barth and Regalia provide some important insights into the contribution of thrift regu- lation to the current problems facing the indusb-y as well as some suggestions about the direction reform should-and should not- take.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52142267891985,"sku":"NLS9789401079716","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9789401079716.jpg?v=1757579669"},{"product_id":"banking-structures-in-major-countries-book-george-g-kaufman-9780792391364","title":"Banking Structures in Major Countries","description":"The ongoing globalization of financial markets has increased the import- ance to users of financial services, policy-makers and financial analysts of understanding the structure and operation of banking systems in other countries as well as that in their own country. This volume contributes to such an understanding. The structure and operation of the banking system are described for 10 important countries, plus the European Economic Community, under one cover. The contributing authors are knowledgable and widely respected experts. The author, or at least one of the coauthors, of each chapter is a resident of the country described. Each chapter follows a broadly similar outline, although the attention devoted to any particular area varies substantially according to authors' perceptions of its relative importance in the particular country. The chapters spotlight the similarities and differences among the structures. The volume should serve as both a handy and authoritative reference guide for practitioners, regulators and students of international banking. An early benefit of the book was an international conference held in Chicago in the fall of 1989 on the world integration of financial markets. A number of the authors of the chapters presented brief versions of their papers. The conference was sponsored jointly by the Federal Reserve Bank of Chicago and the MidAmerica Institute. The audience was primarily senior officers and regulators of financial institutions in the midwest. The conference generated considerable interest in both the subject matter and the contents of this book.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52145226481937,"sku":"NLS9780792391364","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780792391364.jpg?v=1757592623"},{"product_id":"initial-public-offerings-findings-and-theories-book-seth-anderson-9780792396338","title":"Initial Public Offerings: Findings and Theories","description":"Initial public offerings (IPOs) play a crucial role in  allocating resources in market economies. Because of the enormous  importance of IPOs, an understanding of how IPOs work is fundamental  to an understanding of financial markets generally. Of particular  interest is the puzzling existence of high initial returns to equity  IPOs in the United States and other free-market economies.    Audience: Designed for use by anyone wishing to perform further  academic research in the area of IPOs and by those practitioners  interested in IPOs as investment vehicles.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52147684245777,"sku":"NLS9780792396338","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780792396338.jpg?v=1757601298"},{"product_id":"bank-mergers-current-issues-and-perspectives-book-benton-e-gup-9780898383065","title":"Bank Mergers: Current Issues and Perspectives","description":"Historians of our financial system will record this as an age of deregulation and bank mergers. Deregulation, a cornerstone of President Reagan's Administration, resulted in federal and state legislation that contributed to increased competition for financial services and increased merger activity. During the 1981-1986 period, there were 2,139 mergers in banking and finance, accounting for 16 percent of total merger activity.l More mergers occurred in banking and finance than in any other industry. Because of these bank mergers, there are vast amounts of data avail- able for scholarly research. This book presents some results of that research which will be of interest to academics, bankers, investors, legislators, and regulators. The book consists of ten articles, and it is divided into three parts. Part 1: National and Regional Bank Mergers gives a broad perspective of merger activity. The first article by Peter S. Rose compared the growth of bank holding companies that merged with those that did not merge. One conclusion of his study was that banks planning mergers tended to be aggressively managed and were often beset by problems, such as low profitability or declining loan quality. Mergers were one solution to their problems. But he found no solid evidence that mergers resulted in greater profitability or reduced risk. He also observed that acquiring banks did not seem to grow faster than those choosing not to merge.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52149457223953,"sku":"NLS9780898383065","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780898383065.jpg?v=1757606885"},{"product_id":"consumer-attitudes-toward-credit-insurance-book-john-m-barron-9781461285700","title":"Consumer Attitudes Toward Credit Insurance","description":"Consumer Attitudes Toward Credit Insurance provides the  findings of a survey of approximately 3600 individuals who had the  opportunity to purchase credit life insurance in conjunction with all  types of consumer loans, except first mortgages and credit cards. The  survey that forms the basis of the book was conducted in 1993 by the  Credit Research Center at Purdue University's Krannert Graduate School  of Management. It replicates and expands upon four previous national  studies of credit insurance consumers, done between 1970 and 1985.     Despite the generally positive findings of prior research with respect  to consumer attitudes toward credit insurance, several open questions  remain of interest to policy makers, specifically the question of  whether coercion is involved in the sale of the insurance.  Consumer Attitudes Toward Credit Insurance addresses these  outstanding issues. It presents a profile of who is currently being  served by the credit insurance market, as well as the reasons  borrowers purchase the product and their experience with the offer of  credit insurance at point of sale.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52339671367953,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52339671826705,"sku":"NLS9781461285700","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9781461285700.jpg?v=1758169964"},{"product_id":"changes-in-the-life-insurance-industry-efficiency-technology-and-risk-management-book-j-david-cummins-9781461372936","title":"Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management","description":"Major challenges for life insurance companies have been posed  by an unprecedented wave of mergers and acquisitions in the insurance  industry and the emergence of non-traditional competitors such as  banks, mutual fund companies and investment advisory firms.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52341699936529,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52341700526353,"sku":"NLS9781461372936","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9781461372936.jpg?v=1758172015"},{"product_id":"closed-end-fund-pricing-book-seth-anderson-9780792376347","title":"Closed-End Fund Pricing","description":"Closed-End Investment Companies (CEICs) have experienced a  significant revival of interest, both as investment vehicles and as  the subject of academic research, over the past decade.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52401941643537,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52401942397201,"sku":"NLS9780792376347","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780792376347.jpg?v=1758756237"},{"product_id":"governing-banking-s-future-markets-vs-regulation-book-catherine-england-9781468467161","title":"Governing Banking's Future: Markets vs. Regulation","description":"Risk-based capital standards presume a need for common capital standards across countries. The details of forging an agreement were left to the staffs of the primary bank regulators in each country, and compromises were inevitable. Although domestic constituencies' reactions to the proposals were invited, the arduous negotiations that led to the proposals generated intense pressure on the principals not to make changes. The European Community's approach to financial integration seems to be driven by a political desire to achieve an integrated market within Europe, despite significant institutional differences among countries. Underlying that desire is a belief that the market pressures that result from different regulatory systems operating in the same market will produce the right answer. The financial provisions of the U.S.-Canada free-trade agreement take a direction that, in my judgment, is more productive. The provisions are more limited in scope than are those of the European initiative. National treatment and national sovereignty are preserved. However, the delicate issue of national responsibility for failing institutions, and its relationship to monetary policies, is not addressed. A Better Alternative A productive basis for international regulation can be formulated around three principles: 1. free entry for foreign-owned subsidiaries chartered under the laws of the host country; 2. national treatment for those subsidiaries; and 3. national responsibility for (a) monetary policy, (b) prevention of unwarranted financial panics in domestically chartered institutions, whether foreign or domestically owned, and (c) supervision of all domestically chartered institutions, regardless of ownership.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52409502302481,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52409502957841,"sku":"NLS9781468467161","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9781468467161.jpg?v=1758775028"},{"product_id":"crisis-resolution-in-the-thrift-industry-book-roger-c-kormendi-9789401068154","title":"Crisis Resolution in the Thrift Industry","description":"On February 6, 1989, the Federal Home Loan Bank Board contacted Mid America Institute to inquire whether it would undertake an independent, academically oriented analysis of the insolvency resolution crisis in the thrift industry. The Senate Banking Committee, during the course of hearings on the thrift crisis, had suggested to the Bank Board tile desirability of an independent assessment of Bank: Board and FSLIC resolution methodology, specifically as it related to the controversy surrounding the December deals, the Southwest Plan, and the possibility that tax considerations were driving certain deals. The Bank Board had already initiated studies from industry-oriented perspectives. Therefore, it felt that an academic perspective would provide both a valuable addition to the process, and by the nature of academia, perhaps the best prospect of a credible and independent viewpoint. The Bank Board was prepared to give an appropriately structured Task Force virtually unlimited access to all personnel, documents and resources that the Task Force felt necessary to come to an uncompromising assessment. The only significant constraint imposed was that a report had to be available prior to the start of the next round of Senate Banking Committee hearings on March 1, 1989. The Task Force would be given complete discretion as to the scope and coverage of the report, but it was requested that the topic of the December deals, particularly the associated tax considerations, be a significant part of the report.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52410710851857,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52410711114001,"sku":"NLS9789401068154","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9789401068154.jpg?v=1758779559"},{"product_id":"changes-in-the-life-insurance-industry-efficiency-technology-and-risk-management-book-j-david-cummins-9780792385356","title":"Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management","description":"Major challenges for life insurance companies have been posed  by an unprecedented wave of mergers and acquisitions in the insurance  industry and the emergence of non-traditional competitors such as  banks, mutual fund companies and investment advisory firms.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52414651760913,"sku":"NLS9780792385356","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780792385356.jpg?v=1758843120"},{"product_id":"investment-management-and-mismanagement-book-seth-anderson-9781441941527","title":"Investment Management and Mismanagement","description":"Investment Management and Mismanagement: History, Findings, and Analysis will present the reader with: (1) a brief overview of portfolio management and its historical evolution , (2) the findings of a substantial amount of academic research into the performance of portfolio managers, (3) the various issues associated with both institutional and individual portfolio mismanagement, and (4) a treatment of the areas of suitability and churning The articles referenced are primarily works from academic journals, including: The Journal of Finance, Journal of Financial Economics, and others, as well as from practitioner-oriented venues, such as Financial Analyst Journal and various law journals. 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Because of the enormous  importance of IPOs, an understanding of how IPOs work is fundamental  to an understanding of financial markets generally. Of particular  interest is the puzzling existence of high initial returns to equity  IPOs in the United States and other free-market economies.    Audience: Designed for use by anyone wishing to perform further  academic research in the area of IPOs and by those practitioners  interested in IPOs as investment vehicles.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52428486476049,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52428487164177,"sku":"NLS9781461359692","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9781461359692.jpg?v=1759164291"},{"product_id":"governing-bankings-future-markets-vs-regulation-book-catherine-england-9780792391371","title":"Governing Bankings Future: Markets vs. Regulation","description":"Risk-based capital standards presume a need for common capital standards across countries. The details of forging an agreement were left to the staffs of the primary bank regulators in each country, and compromises were inevitable. Although domestic constituencies' reactions to the proposals were invited, the arduous negotiations that led to the proposals generated intense pressure on the principals not to make changes. The European Community's approach to financial integration seems to be driven by a political desire to achieve an integrated market within Europe, despite significant institution al differences among countries. Underlying that desire is a belief that the market pressures that result from different regulatory systems operating in the same market will produce the right answer . The financial provisions of the U .S.-Canada free-trade agreement take a direction that, in my judgment, is more productive. The provisions are more limited in scope than are those of the European initiative. National treatment and national sovereignty are preserved. However, the delicate issue of national responsibility for failing institutions, and its relationship to monetary policies, is not addressed. A Better Alternative A productive basis for international regulation can be formulated around three principles: 1. free entry for foreign-owned subsidiaries chartered under the laws of the host country; 2. national treatment for those subsidiaries; and 3. national responsibility for (a) monetary policy, (b) prevention of unwarranted financial panics in domestically chartered institutions, whether foreign or domestically owned, and (c) supervision of all domestically chartered institutions, regardless of ownership.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52429436092689,"sku":"NLS9780792391371","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":53500517122321,"sku":"NIN9780792391371","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780792391371.jpg?v=1759166883"},{"product_id":"investment-management-and-mismanagement-book-seth-anderson-9780387338293","title":"Investment Management and Mismanagement","description":"Investment Management and Mismanagement: History, Findings, and Analysis will present the reader with: (1) a brief overview of portfolio management and its historical evolution , (2) the findings of a substantial amount of academic research into the performance of portfolio managers, (3) the various issues associated with both institutional and individual portfolio mismanagement, and (4) a treatment of the areas of suitability and churning The articles referenced are primarily works from academic journals, including: The Journal of Finance, Journal of Financial Economics, and others, as well as from practitioner-oriented venues, such as Financial Analyst Journal and various law journals. 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The  survey that forms the basis of the book was conducted in 1993 by the  Credit Research Center at Purdue University's Krannert Graduate School  of Management. It replicates and expands upon four previous national  studies of credit insurance consumers, done between 1970 and 1985.     Despite the generally positive findings of prior research with respect  to consumer attitudes toward credit insurance, several open questions  remain of interest to policy makers, specifically the question of  whether coercion is involved in the sale of the insurance.  Consumer Attitudes Toward Credit Insurance addresses these  outstanding issues. 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The user cost formulation permits goods to be classified as outputs and inputs. Those with a positive user cost, where expenditures per unit exceed revenues per unit, are inputs. The unit for financial goods such as loans or deposits is one dollar per period. 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A substantial amount of academic research has focused on the nature of  closed-end funds, discounts and premiums, and on the share price  behavior of these firms, which often results in the prices differing  from the net asset value of the shares.    This book is designed for the academic researcher interested in CEICs  and the practitioner interested in using CEICs as an investment  vehicle. 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This volume contributes to such an understanding. The structure and operation of the banking system are described for 10 important countries, plus the European Economic Community, under one cover. The contributing authors are knowledgable and widely respected experts. The author, or at least one of the coauthors, of each chapter is a resident of the country described. Each chapter follows a broadly similar outline, although the attention devoted to any particular area varies substantially according to authors' perceptions of its relative importance in the particular country. The chapters spotlight the similarities and differences among the structures. The volume should serve as both a handy and authoritative reference guide for practitioners, regulators and students of international banking. An early benefit of the book was an international conference held in Chicago in the fall of 1989 on the world integration of financial markets. A number of the authors of the chapters presented brief versions of their papers. The conference was sponsored jointly by the Federal Reserve Bank of Chicago and the MidAmerica Institute. The audience was primarily senior officers and regulators of financial institutions in the midwest. The conference generated considerable interest in both the subject matter and the contents of this book.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52687960146193,"sku":"NLS9789401053082","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9789401053082.jpg?v=1762331781"}],"url":"https:\/\/www.worldofbooks.com\/en-au\/collections\/innovations-in-financial-markets-and-institutions-book-series.oembed","provider":"World of Books ","version":"1.0","type":"link"}