'Modern Financial Markets and Institutions' provides a comprehensive and authoritative introduction to the workings of modern financial systems, the efficiency of money markets and the role of investment bankers, illustrating how they impact our everyday lives.
Modern Financial Markets and Institutions provides a comprehensive and authoritative introduction to the workings of modern financial systems, the efficiency of money markets and the role of investment bankers, illustrating how they impact our everyday lives. By drawing on numerous real-world examples, this text is essential reading for students of banking, finance, investment, business studies and economics. It will be invaluable for those looking to entering banking, insurance, fund management and other financial services industries. “The practical perspective is perfect for business students wishing to understand the financial sector and how it works. Arnold again, as with his other books, has done a great job here. This is a book I have been waiting for some time.” Mr Jim Keane - Gloucester Business School University of Gloucestershire, Cheltenham, UK “Excellent analysis and clear explanations.” Ms. Nirmala Lee - Dept Of Accounting/Finance LondonMet (Guild) University, London, UK
Offers an analysis of the risks faced by investors and savers interacting through financial institutions and financial markets, as well as strategies that can be adopted for controlling and managing risks.
Publisher: Macmillan International Higher Education
Finance and Financial Markets is a major text designed for introductory undergraduate, postgraduate and MBA courses in finance. It provides a comprehensive yet relatively non-technical introduction to modern day financial institutions, markets and instruments.
Presents the process of financial intermediation as a broad theme that extends beyond the nature and purpose of financial intermediaries, to include their influence over the financial instruments and markets in which they operate. Extensive coverage of the modern functions of financial institutions such as off-balance-sheet activities, securitization, and financial derivatives. The book presents real-world examples and problems within a modern, global perspective. A valuable book for any professional who needs to understand more about global financial markets and institutions or bank management.
This jargon-busting book describes how the bond and money markets work and how they impact on everyday life. It assumes no specialised prior knowledge of finance theory and provides an authoritative and comprehensive run-down of the workings of the modern financial system. It’s in the money markets where money, or the value of money, can be bought and sold. It’s the place where Treasury bills, deposits, repurchase agreements, short-lived mortgages etc, can be traded. These are crucial to the global economy because they provide liquidity funding for the global financial system. Bond markets operate in the same way but are financial markets where participants can issue new debt or buy and sell existing debt – known as bonds. As with money markets, bond markets are key because they provide money where no money previously existed (think of your mortgage). Using real world examples from media such as the Financial Times, bestselling author Glen Arnold gives an international perspective on these markets. Understand key bond and money market terms and banking products Explore the wide variety of types of markets and their functions eg. LIBOR, gilts, government debt Gain insight into the main factors influencing prices in the financial markets Learn how fluctuations in the money markets can affect you and your own money strategies
Modern Financial Macroeconomics takes a non-technical approach in examining the role that financial markets and institutions play in shaping outcomes in the modern macro economy. Reviews historical and contemporary macroeconomic theory Examines governmental influence on moderating (or exacerbating) economic fluctuations Discusses both empirical and theoretical links between financial systems and economic performance, as well as case studies detailing the role of finance in specific business cycle episodes
Tom Valentine and his co-authors have given us a beautifully clear introduction to the most important topic in economics today. There is an excellent chapter on the global financial crisis, and the reader is guided through the basic theory of the modern financial system with the help of real life examples." - Alan Mitchell, Economics Editor, The Australian Financial Review Fundamentals of Financial Markets and Institutions provides students with a comprehensive introduction to the Australian and international financial markets. It clearly explains the theories and describes the models used by these markets. Written in a student-friendly style, the text is completely Australian. It is the only Australian Financial Markets text with up to the minute currency and a global emphasis. This text is written in a clear, easy-to-understand manner to give students a fundamental introduction to financial markets without overwhelming them. It is the perfect book for any first year financial institutions course looking to enhance student success.
A valuable guide to the essential elements of modern financial systems This book offers you a unified theory of modern financial system activity. In it, author Edwin Neave distills a large body of literature on financial systems, the institutions that comprise the systems, and the economic impacts of the systems' operation. Through non-technical summaries, Neave provides you with a primer on how financial systems work, as well as how the many parts of any financial system relate to each other. He does so in a straightforward manner, with an emphasis on economic principles and the relationship between various aspects of financial system activity. Discusses financial governance and explains how financial markets and institutions complement each other Identifies the economic forces at work within financial systems and explores how they determine system organization and change Offers a theoretical survey of financial activity and its application to numerous practical situations Explains both static financial system organization and the dynamics of financial system evolution Following a non-technical approach, this book skillfully explores how financial systems work, as well as how the many parts of any financial system relate to each other.
Aimed at advanced undergraduate and graduate students in economics, banking, and finance, this is a core textbook for the financial markets, institutions, and regulation option of courses in financial economics. It integrates modern theories of asymmetric information into the analysis of financial institutions, relating the theory to current developments. The text begins with an analysis of adverse selection in retail financial products like life assurance before looking at open capital markets where trades and prices provide information. It then progresses to the more complex areas of corporate governance and financial intermediation in which information is concealed or confidential and moral hazard and verification problems become important. These chapters study the various mechanisms that the financial markets have developed to allow investors to delegate the management of their assets to others. This analysis is used to show how regulation can reduce the risk of financial failure and how legal, accounting, and regulatory mechanisms can help shape a country's corporate and financial architecture. These difficult theoretical concepts are conveyed through the careful use of numerical illustrations and topical case studies. Each chapter ends with a set of exercises to test and reinforce students' comprehension of the material. Worked solutions are provided for the numerical exercises.
Introduction to the Theories and Varieties of Modern Crime in Financial Markets explores statistical methods and data mining techniques that, if used correctly, can help with crime detection and prevention. The three sections of the book present the methods, techniques, and approaches for recognizing, analyzing, and ultimately detecting and preventing financial frauds, especially complex and sophisticated crimes that characterize modern financial markets. The first two sections appeal to readers with technical backgrounds, describing data analysis and ways to manipulate markets and commit crimes. The third section gives life to the information through a series of interviews with bankers, regulators, lawyers, investigators, rogue traders, and others. The book is sharply focused on analyzing the origin of a crime from an economic perspective, showing Big Data in action, noting both the pros and cons of this approach. Provides an analytical/empirical approach to financial crime investigation, including data sources, data manipulation, and conclusions that data can provide Emphasizes case studies, primarily with experts, traders, and investigators worldwide Uses R for statistical examples
Financial Institutions, Instruments and Markets, seventh edition, is the definitive, market-leading resource for students learning about the modern financial system.The seventh edition of Financial Institutions, Instruments and Markets seeks to reinforce and extend the qualities of previous editions, while continuing to provide a current, reliable andauthoritative educational resource for finance students. This edition introduces a co-author,Peter Phillips (University of Southern Queensland), a reputable educator and academic of finance and economics who contributes a fresh perspective and vitality to Financial Institutions, Instruments and Markets.
The challenges of the current financial environment have revealed the need for a new generation of professionals who combine training in traditional finance disciplines with an understanding of sophisticated quantitative and analytical tools. Risk Management and Simulation shows how simulation modeling and analysis can help you solve risk management problems related to market, credit, operational, business, and strategic risk. Simulation models and methodologies offer an effective way to address many of these problems and are easy for finance professionals to understand and use. Drawing on the author’s extensive teaching experience, this accessible book walks you through the concepts, models, and computational techniques. How Simulation Models Can Help You Manage Risk More Effectively Organized into four parts, the book begins with the concepts and framework for risk management. It then introduces the modeling and computational techniques for solving risk management problems, from model development, verification, and validation to designing simulation experiments and conducting appropriate output analysis. The third part of the book delves into specific issues of risk management in a range of risk types. These include market risk, equity risk, interest rate risk, commodity risk, currency risk, credit risk, liquidity risk, and strategic, business, and operational risks. The author also examines insurance as a mechanism for risk management and risk transfer. The final part of the book explores advanced concepts and techniques. The book contains extensive review questions and detailed quantitative or computational exercises in all chapters. Use of MATLAB® mathematical software is encouraged and suggestions for MATLAB functions are provided throughout. Learn Step by Step, from Basic Concepts to More Complex Models Packed with applied examples and exercises, this book builds from elementary models for risk to more sophisticated, dynamic models for risks that evolve over time. A comprehensive introduction to simulation modeling and analysis for risk management, it gives you the tools to better assess and manage the impact of risk in your organizations. The book can also serve as a support reference for readers preparing for CFA exams, GARP FRM exams, PRMIA PRM exams, and actuarial exams.
This paper examines the role of financial development and financial structure in explaining cross-country diffusion of information communication technology (ICT). Using panel data for 76 emerging and advanced countries for the period 1990-2003, the paper finds that credit and stock market development tends to foster ICT development. Financial structure, however, does not appear to have any significant relationship with ICT development. The conclusions of the paper highlight the role of financial development in the market for knowledge-based products, and are consistent with theoretical predictions. The finding that financial development is an important determinant of ICT development implies that countries with underdeveloped financial markets may continue to lag behind in the use of ICT.
Financial Institutions, Instruments & Markets is the definitive, market-leading resource for students learning about the modern financial system. The eighth edition seeks to reinforce and extend the qualities of previous editions, while continuing to provide a current, reliable and authoritative educational resource for finance students.
The Handbook brings together leading international scholars to provide a comprehensive overview of research and theory on the sociology of finance and the workings of financial institutions and financial markets. It will serve as a reference point for this rapidly expanding discipline.
Sudipto Bhattacharya,Arnoud W. A. Boot,Anjan V. Thakor
Readings and Perspectives in Modern Financial Theory
Author: Sudipto Bhattacharya,Arnoud W. A. Boot,Anjan V. Thakor
Publisher: Oxford University Press on Demand
Category: Business & Economics
Developments in theories of financial markets and institutions, using the tools of the economics of uncertainty and of contracts, as well as results in game theory, have, over the last two decades, constituted an exciting and burgeoning field of research. This collection of readings draws together highlights of the 'second generation' literature in this area, emphasizing the theoretical, institutional, and policy-oriented regulatory implications of some of the key modelling techniques inthe field. The collection divides into seven sections covering the monitoring role of banks and other intermediaries; liquidity demand and the role of banks and the government; bank runs and financial crises; bank regulation; inter-bank competition and bank--firm relationships; comparative financial systems; and imperfect credit markets and the macroeconomy. Each section comprises four articles previously published in top-ranking economics and finance journals, plus a discussion by a prominent scholar, who provides a synthesis and critique of the literature, and suggests promising directions for future research and application of results.
Southern Methodist University. Institute of International Banking and Finance
Author: Southern Methodist University. Institute of International Banking and Finance
Publisher: Kluwer Law International B.V.
This work examines both the UK and international regulation, as well as the case law and legislation affecting a wide spectrum of modern financial techniques. Within the scope of those financial techniques are the broad range of instruments, structures and contracts deployed by global financial markets in relation to corporate customers, sovereign entities and other public sector bodies. The essays in this collection are concerned with the nature of the modernity of financial products like derivatives, and the particularly acute challenge that they pose both to the control of financial markets by private law and by established means of regulation. Much of the book focuses on derivatives as exemplars of this broader context. The authors analyse practical and theoretical issues as diverse as credit derivatives, dematerialised securities, the ISDA EMU protocol, and the OTC derivatives market, as well as the regulation of financial products, the economics of financial techniques, and the international regulatory framework. They examine issues of private law, including the legal implications of immobilisation and dematerialisation in collateral transactions, seller liability in credit derivatives markets and fraud. The essays examine the benefits and shortcomings of various legal mechanisms and methods of financial regulation, and suggest new approaches to the questions facing the law of international finance. The essays in this book arose out of the W.G. Hart workshop on Transnational Corporate Finance and the Challenge to the Law held at the Institute of Advanced Legal Studies in London in 1998.