Contemporary Financial Intermediation

by Stuart I. Greenbaum, Anjan V. Thakor, Arnoud W. A. Boot

Overview

"In Contemporary Financial Intermediation, Third Edition, Greenbaum, Thakor and Boot offer a distinctive approach to financial markets and institutions, presenting an integrated portrait that puts information at the core. Instead of simply naming and describing markets, regulations, and institutions as competing books do, the authors explore the endless subtlety and plasticity of financial institutions and credit markets. This edition has six new chapters and increased, enhanced pedagogical supplements. The book is ideal for anyone working in the financial sector, presenting professionals with a comprehensive understanding of the reasons why markets, institutions, and regulators act as they do. Readers will find an unmatched, thorough discussion of the world's financial markets and how they function"--

Product Details

ISBN-13:	9780124052086
Publisher:	Elsevier Science
Publication date:	04/17/2019
Edition description:	4th ed.
Pages:	490
Product dimensions:	8.50(w) x 10.88(h) x (d)

About the Author

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.

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.

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.

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

What People are Saying About This

From the Publisher

A practical, in-depth text on the shifting relationships among financial institutions, markets, and regulations

Editorial 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

From the Publisher