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List of Contributors
Introduction to the Series
Section 1: Design of Contracts and Securities
Introduction to Design of Contracts and Securities
Chapter 1: The Design of Debt Contracts
Chapter 2: Subordination Levels in Structured Financing
Section 2: Market Structure and Structure of Financial Markets
Chapter 3: Limit Order Markets: A Survey
Section 3: Financial Intermediary Structure
Introduction to Financial Intermediary Structure
Chapter 4: Bank Structure and Lending: What We Do and Do Not Know
Chapter 5: Optimal Industrial Structure in Banking
Chapter 6: Commercial Banks in Investment Banking
Section 4: Mutual Funds
Introduction to Mutual Funds
Chapter 7: Performance Measurement and Evaluation
Chapter 8: The Behavior of Mutual Fund Investors
Chapter 9: Incentives in Funds Management: A Literature Overview
Section 5: Regulation
Introduction to Regulation
Chapter 10: Consolidation in the U.S. Banking Industry: Is the “Long, Strange Trip” About to End?
Chapter 11: Safety, Soundness, and the Evolution of the U.S. Banking Industry
Chapter 12: What Caused the Bank Capital Buildup of the 1990s?
Chapter 13: Basel II: A Case for Recalibration
Section 6: Competition and Regulation in Banking
Introduction to Competition and Regulation in Banking
Chapter 14: Competition and Regulation in Banking
Chapter 15: Competition and Regulation in the Banking Sector: A Review of the Empirical Evidence on the Sources of Bank Rents
The growth of financial intermediation research has yielded a host of questions that have pushed "design" issues to the fore even as the boundary between financial intermediation and corporate finance has blurred. This volume presents review articles on six major topics that are connected by information-theoretic tools and characterized by valuable perspectives and important questions for future research. Touching upon a wide range of issues pertaining to the designs of securities, institutions, trading mechanisms and markets, industry structure, and regulation, this volume will encourage bold new efforts to shape financial intermediaries in the future.
- Original review articles offer valuable perspectives on research issues appearing in top journals
- Twenty articles are grouped by six major topics, together defining the leading research edge of financial intermediation
- Corporate finance researchers will find affinities in the tools, methods, and conclusions featured in these articles
Upper-division undergraduates, graduate students, professors, and professionals studying financial intermediation, in particular banking, financial systems, regulation, mutual funds, and interbank competition
- No. of pages:
- © Elsevier Science 2008
- 27th May 2008
- Elsevier Science
- Hardcover ISBN:
- eBook ISBN:
"Boot and Thakor have done a wonderful job in putting together a collection of recent papers on financial intermediation. I particularly like their emphasis on current topics such as structured finance, bank consolidation, and Basel II regulation. A must read for anyone who wants to be informed about the current thinking in this evolving field." Luc Laeven, International Monetary Fund "Literally a tour de force with broad and deep coverage of the banking literature from a Finance perspective. A must-read for serious scholars and professionals that offers a clear and direct path to the cutting edge of current research in the field." Peter Rousseau, Vanderbilt University "Arnoud Boot and Anjan Thakor have gathered leading researchers working at the intersection of corporate finance and financial intermediation to review and synthesize the latest work in their fields. In addition to providing a concise overview of the state of the art in these important areas, the authors provide a critical assessment of the most promising avenues for future research. This text will likely prove to be an invaluable resource both for current researchers as well as new students of these disciplines." Peter M. DeMarzo, Stanford University “This book is an excellent collection of survey papers in the field of financial intermediation, written by leading researchers in the field. Given its broad coverage of topics and accessible style, it is highly recommended reading for students, teachers and professionals who want to refresh their knowledge of the literature, bring themselves to the frontier of the field, and explore open research questions.” Thorsten Beck, The World Bank
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.
John E. Simon Professor of Finance and Director of the PhD Program, Olin School of Business, Washington University, St. Louis, MO, USA
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.
University of Amsterdam