Contemporary Financial Intermediation - 4th Edition - ISBN: 9780124052086

Contemporary Financial Intermediation

4th Edition

Authors: Stuart Greenbaum Anjan Thakor Arnoud W. A. Boot
Hardcover ISBN: 9780124052086
Imprint: Academic Press
Published Date: 29th April 2019
Page Count: 490
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Description

Contemporary Financial Intermediation, 4th Edition by Greenbaum, Thakor, and Boot continues to offer a distinctive approach to the study of financial markets and institutions by presenting an integrated portrait that puts information and economic reasoning at the core. Instead of primarily naming and describing markets, regulations, and institutions as is common, Contemporary Financial Intermediation explores the subtlety, plasticity and fragility of financial institutions and credit markets. In this new edition every chapter has been updated and pedagogical supplements have been enhanced. For the financial sector, the best preprofessional training explains the reasons why markets, institutions, and regulators evolve they do, why we suffer recurring financial crises occur and how we typically react to them. Our textbook demands more in terms of quantitative skills and analysis, but its ability to teach about the forces shaping the financial world is unmatched.

Key Features

  • Updates and expands a legacy title in a valuable field
  • Holds a prominent position in a growing portfolio of finance textbooks
  • Teaches tactics on how to recognize and forecast fluctuations in financial markets

Readership

Upper-division undergraduates and graduate students worldwide in courses such as Financial Markets and Institutions, Banking, and Commercial Bank Management

Table of Contents

PART I: A FRIENDLY CONVERSATION
1. Basic concepts

PART II: WHAT IS FINANCIAL INTERMEDIATION?
2. The nature and variety of financial intermediation
3. The what, how and why of financial intermediaries
4. Institutions and markets

PART III: THE BUSINESS OF BANKING
5. Spot lending
6. Further issues in bank lending
7. Off-balance sheet contingent commitments
8. Securitization

PART IV: MORE ON THE BUSINESS OF BANKING: FUNDING AND CAPITAL STRUCTURE
9. How banks fund themselves
10. The choice of funding and capital structure of banks

PART VII: BANK RISK MANAGEMENT
11. The management of risks

PART V: UNDERSTANDING FINANCIAL CRISES
12. Origin and causes of financial crises

PART VI: BANK REGULATION
13. Objectives and principles of bank regulation
14. Milestones in banking legislation and regulatory reform

PART VII: GOVERNANCE
15. The governance and structure of financial institutions
16. Corporate control

PART VIII: SPECIAL TOPICS
17. Financial innovation
18. Investment banks and the shadow banking system
19. Financial intermediaries and accounting

PART IX: CHALLENGES GOING FORWARD (THE FUTURE)
20. The future

Details

No. of pages:
490
Language:
English
Copyright:
© Academic Press 2020
Published:
Imprint:
Academic Press
Hardcover ISBN:
9780124052086

About the Author

Stuart Greenbaum

Stuart Greenbaum is a leading authority on banks. Formerly dean of the John M. Olin School of Business at Washington University in St. Louis, he spent twenty years at the Kellogg Graduate School of Management at Northwestern University, where he was the Director of the Banking Research Center and the Norman Strunk Distinguished Professor of Financial Institutions. Three times he was appointed to the Federal Savings and Loan Advisory Council and was twice officially commended for extraordinary public service. He is founding editor of the Journal of Financial Intermediation.

Affiliations and Expertise

Bank of America Professor of Managerial Leadership and former Dean, John M. Olin School of Business, Washington University, St. Louis, MO, USA

Anjan Thakor

As the John E. Simon Professor of Finance and Senior Associate Dean of Programs at the Olin School of Business, Washington University, St. Louis, Anjan Thakor works in both academia and the business world. Prior to joining the Olin School, he was Edward J. Frey Professor of Banking and Finance at the Ross School of Business, University of Michigan, where he also served as chairman of the Finance area. He has worked with many companies, including Whirlpool Corporation, Allision Engine Co., Citigroup, RR Donnelley, Dana Corporation, Anheuser-Busch, Zenith Corporation, Lincoln National Corporation, and J.P. Morgan.

Affiliations and Expertise

John E. Simon Professor of Finance and Director of the PhD Program, Olin School of Business, Washington University, St. Louis, MO, USA

Arnoud W. A. Boot

Arnoud Boot is professor of Corporate Finance and Financial Markets at the University of Amsterdam and chairman of the European Finance Association (EFA). He is chairman of the Bank Council of the Dutch Central Bank (DNB), member of the Scientific Council for Government Policy (WRR) and member of the Royal Netherlands Academy of Arts and Sciences (KNAW). He is also a research fellow at the Centre for Economic Policy Research (CEPR) in London. Prior to his current positions, he was a member of the Inaugural Advisory Committee of the European Systemic Risk Board (ESRB), partner in the Finance and Strategy Practice at McKinsey & Co. and a faculty member at the J.L. Kellogg Graduate School of Management at Northwestern University in Chicago. He was also Bertil Danielsson Visiting Professor at the Stockholm School of Economics and Olin Fellow at Cornell University. He is the past chairman of the Royal Netherlands Economics Association. In addition to his academic activities, Arnoud Boot advises extensively on ownership structure issues, particularly related to the public/private domain, and is consultant to several financial institutions and corporations. He is a non-executive director of several corporations and agencies. His research focuses on corporate finance and financial institutions. His publications have appeared in major academic journals, such as the Journal of Finance, American Economic Review, Review of Financial Studies, and the Journal of Financial Intermediation.

Affiliations and Expertise

University of Amsterdam

Reviews

"The landscape of banking is undergoing fundamental changes, with the emergence of new financial technologies and regulations and the rise of non-banks. This updated version of the standard textbook on banking is mandatory reading for all regulators, bankers, and students who wonder what is special about banks and what financial intermediation will look like in the future." —Luc Laeven, Director-General, European Central Bank

"This up-to-date standard work on financial intermediation, peppered with many concrete examples, is well founded in economic theory but never loses sight of the rapidly evolving reality of global finance."—Ralph de Haas, European Bank for Reconstruction and Development

"The banking sector has undergone significant changes in the decade since the global financial crisis.  Technological change, increased non-bank competition, complex regulations, and shifts in globalization define the new landscape.  The revised version of Contemporary Financial Intermediation provides an integrated framework for understanding and analyzing these changes.  It is a must read for finance students, regulators and policy makers."—Deniz Anginer, The World Bank

Ratings and Reviews