In this fifth article in the Economists’ Hubris series, we investigate the practical applications of eight papers that won best-article awards in 2008 and 2009 from the Journal of Finance or the Journal of Financial Economics, the two leading journals in finance. We find that these articles...

This paper looks at the implications of September 11th on the financial services industry. Our research finds that despite these horrific events, the securities industry will be able to post its fifth best performance of all time. This has been made possible by a combination of falling interest...

In recent years, financial institutions and their supervisors have placed increased emphasis on the importance of consolidated risk management. Consolidated risk management, also referred to as integrated or enterprise-wide risk management, can have many specific meanings, but in general it...

Both Moles (2008) and Sneyers (2008) have proposed ideas about "manufacturing‟ private capital market securities that could be used by new ventures and existing firms that were raising growth capital to support innovation. Their ideas for new varieties of securities would work well if they...

An understanding of strategic network management and its impact on the sources of competitive advantage for financial institutions is becoming increasingly important as the traditional boundaries for products, firms, and industry sub-divisions change. The repeal of the Glass Steagall Act in the...

Some effects of e-Commerce, and their implications for financial services firms, are becoming clear. The web drives transparency, and increases the information endowment of all market participants. It is harder to manipulate customers’ behavior, or to overcharge them, as their information...

Clearly, the events of 2003 have taught the financial services industry not to take the crisis preparedness and reputation management process for granted or underestimate its importance. The best crisis management is really crisis prevention, which necessitates a clear understanding of worst...

In this paper, I will focus on two aspects of the transformation – operations and technology – that we undertook at Shinsei. It is my hope that by sharing some of my experiences in this paper, I can help some of my colleagues mitigate some of the mistakes that were made along this journey of...