Contemporary Topics in Finance

Name: Contemporary Topics in Finance | A Collection of Literature Surveys
Brand: Wiley
Price: 26.99 EUR
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A Collection of Literature Surveys

Iris Claus Leo Krippner(Herausgeber*in)

Wiley (Verlag)

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Erschienen am 27. Februar 2019

400 Seiten

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Inhalt

Intro
Contemporary Topics in Finance
Contents
1 Contemporary Topics in Finance: A Collection of Literature Surveys
References
2 A Survey of the International Evidence and Lessons Learned about Unconventional Monetary Policies: Is a 'New Normal' in our Future?
1. Introduction
2. The Transition to Unconventional Policies
2.1 The 2008 GFC
2.2 A Brief Typology of UMP
3. The International Evidence to Date: Financial Markets
3.1 Measurement Challenges
3.2 Learning from Japan's Experience
3.3 The GFC and Its Aftermath
3.4 Is Europe Different?
3.5 International Spillovers from UMP
4. The International Evidence to Date: Macro-Economic Effects
4.1 Can UMP Have Real Economic Effects?
4.2 DSGE Alternative
4.3 Central Bank Credibility and Inflation Expectations
5. Conclusions: Lessons Learned, the Exit and the New Normal
Acknowledgements
Notes
References
3 Implicit Bank Debt Guarantees: Costs, Benefits and Risks
1. Introduction
2. Why Do Implicit Bank Debt Guarantees Arise?
2.1 Why Do Explicit Bank Debt Guarantees Exist?
2.2 Differences between Explicit and Implicit Bank Debt Guarantees
2.3 Why Do Implicit Bank Debt Guarantees Arise?
3. Who Benefits from Implicit Bank Debt Guarantees?
3.1 Bank Creditors
3.2 Bank Owners
3.3 Selected Other Stakeholders
4. What Are the Economic Costs of Implicit Bank Debt Guarantees?
4.1 Weakened Market Discipline
4.2 Increased Risk-Taking
4.3 Competitive Distortions
4.4 Creating Perceived Contingent Liabilities for the Sovereign
5. What Factors Influence the Value of the Perceived Guarantee?
5.1 The Credit Strengths of the Debtor and the Guarantor
5.2 Collective and Idiosyncratic Risk
5.3 Estimating the Value of Implicit Bank Debt Guarantees
6. How Do Markets React to What Policy Makers Say and Do about Implicit Guarantees?
6.1 How Do Policy Makers Communicate about the Issue of Implicit Bank Debt Guarantees?
6.2 How Do Financial Markets React to What Policy Makers Say and Do?
6.3 What Has Been the Response to the Special Treatment Administered to GSIBs So Far?
7. Concluding Remarks and Open Issues
Acknowledgements
References
4 Financial Fraud: A Literature Review
1. Introduction
2. False Financial Disclosures
2.1 Rogue Traders: False Financial Disclosures at the Proprietary Trading Desks of Financial Firms
2.2 Mortgage Origination Fraud: False Financial Disclosures in the Context of Loan Applications
2.3 Mortgage Securitization Fraud: False Financial Disclosures in the Context of Structured Finance Investments
3. Financial Scams
3.1 Investment Scams: Sham Business Ventures and Ponzi Schemes
3.2. Financial Identity Scams: Phishing, Pharming and Payment Scams
4. Fraudulent Financial Mis-Selling
4.1. Predatory Lending: The Mis-Selling of Mortgage Loans
4.2 The Mis-Selling of Life Insurance and Pension Schemes
4.3 The Mis-Selling of Interest Rate Derivatives
5. Conclusion
Acknowledgements
Notes
References
5 Estimating Inflation Risk Premia Using Inflation-Linked Bonds: A Review
1. Introduction
2. Overview of Relevant Concepts
2.1 Inflation Risk Premium
2.2 Inflation-Linked Bonds and the Break-Even Inflation Rate
3. Estimating the Inflation Risk Premium with ILB Yields
3.1 Regression-Based Approaches
3.2 Term Structure Models
3.3 Evaluating the Use of ILB to Estimate the Inflation Risk Premium
4. Impact of Liquidity
5. Current Developments
5.1 Inflation Risk Premium and Monetary Policy
5.2 Estimation Issues
5.3 Zero Lower Bound
6. Conclusion
Acknowledgements
Notes
References
6 Finance and Productivity: A Literature Review
1. Introduction
2. A Framework for the Analysis
3. Financial Development and Economic Growth
3.1 Conceptual Priors About Finance and Growth
4. Finance and Productivity
4.1 Indirect Analyses of the Effect of Finance on Productivity
4.2 Direct Analyses of Finance and Productivity
4.3 Studies Investigating Channels Other Than Firm-Level Frictions Through Which Financial Development Influences Productivity
4.4 Financial Liberalisation and Productivity
4.5 Non-Debt Finance and Productivity
4.6 Business Cycles, Finance and Productivity
5. Summary
5.1 Finance and Productivity
5.2 Insolvency Regimes and Productivity
5.3 Transmission Channels
5.4 M&A and Productivity
5.5 Direct Contributions of the Financial Sector to Productivity Improvement
5.6 Financial Liberalisation and Productivity
5.7 Equity Finance and Productivity
5.8 Alternative Finance and Productivity
5.9 Business Cycles and Productivity
Notes
References
Supporting Information
7 Business Angels Research in Entrepreneurial Finance: A Literature Review and a Research Agenda
1. Introduction
2. Methodology
3. Main Contributions of BA Research
3.1 BA Characteristics
3.2 BA Market
3.3 BA Investment Process
4. Bibliometric Analysis
5. Conclusions and Directions for Future Research
5.1 BA Characteristics
5.2 BA Market
5.3 BA Investment Process
Notes
References
Supporting Information
8 Venture Capital Internationalization: Synthesis and Future Research Directions
1. Introduction
2. Determinants of International VC Investment Flows
2.1 Country-Level Determinants
2.2 VC Firm-Level Determinants
3. Strategies to Compensate for Liabilities of Foreignness
4. Outcomes of International VC Investments
4.1 Outcomes from the Perspective of the Portfolio Company
4.2 Outcomes from the Perspective of the VC Firm
5. Public Policy and VC Internationalization
6. Avenues for Future Research
6.1 Theoretical Integration and Methodological Gaps
6.2 General Gaps
6.3 Current Gaps in the Determinants of International VC Investments
6.4 Current Gaps in the Strategies to Compensate for Liabilities of Foreignness
6.5 Current Gaps Related to the Outcomes of International Investments
7. Overall Conclusion
Acknowledgements
Notes
References
9 Is Relationship Lending Still a Mixed Blessing? A Review of Advantages and Disadvantages for Lenders and Borrowers
1. Introduction
2. Theoretical Foundations
2.1 Positive Side of Relationship Lending
2.2 Negative Side of Relationship Lending
3. Research Framework and Analysis of the Main Determinants of Relationship Lending
4. Relationship-Specific Determinants
4.1 Bank and Firm Size
4.2 Geographical Distance
4.3 Functional Distance
4.4 The Firm-Bank Relationship Duration
4.5 The Exclusivity and the Main-Bank Affiliation
4.6 The Importance of Lender-Borrow Mutual Trustworthiness and the Role of Qualitative Information
5. Industry-Specific Variables
5.1 Level of Market Competition
5.2 Regulatory Framework - Adoption of Basel II and III
5.3 Ownership Structure
6. Relationship Lending in Times of Financial Distress for Lenders and/or Borrowers
7. Differences between Financial Systems
8. Final Remarks and Suggestions for Future Research
9 Notes
References
10 Determinants of the Performance of Microfinance Institutions: A Systematic Review
1. Introduction
2. MFI Performance: The Debate
3. Measuring MFI Financial and Social Performance
4. Methodology and Data Description
4.1 Method of Data Collection
4.2 Description of the Data
5. Data Analysis
5.1 MFI Characteristics and Performance
5.2 MFI Performance and Financing Sources
5.3 MFI Performance and Governance
5.4 MFI Performance and the External Context
5.5 Trade-Off between Financial and Social Performance
6. Challenges and Conclusions
Acknowledgement
Notes
References
11 Crowdfunding and Innovation
1. Introduction
2. The Functioning of Crowdfunding Platforms
3. Crowdfunding and the Financing of Innovation
3.1 Crowdfunding: A Solution to the Funding Gap?
3.2 Links Between Crowdfunding and Other Forms of Entrepreneurial Finance
3.3 Summary: Crowdfunding can Help Finance Innovation
4. Does Crowdfunding Spur Innovation?
4.1 Innovation: A Problem of Trust?
4.2 Crowdfunding and Crowdsourcing
4.3 The Contribution of Crowdfunding to the Innovation Process
4.4 Types of Crowdfunding and Innovation
4.5 Necessary Conditions for the Development of Innovation
5. Conclusions
Notes
References
12 Crypto-Currencies - An Introduction to Not-So-Funny Moneys
1. Introduction
2. Payment/Exchange Mechanisms
2.1 Background Context
2.2 What are Crypto-Currencies? How Do They Work?
2.3 Growth in the Supply of Crypto-Currencies
2.4 The Mechanics of Bitcoin and the Blockchain
3. What Purpose Do Crypto-Currencies Serve?
3.1 Crypto-Currency and the Basic Functions of Money
3.2 Motivations for Using Crypto-Currencies
3.3 What are Crypto-Currencies Really Used For?
3.4 Empirical Properties of Crypto-Currencies
4. Implications
4.1 Implications for Consumers
4.2 Implications for Financial Institutions
4.3 Implications for Monetary and Regulatory Authorities
5. Conclusion
Acknowledgement
Notes
References
Index
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