"Financial Management in the Digital Economy adopts an integrated approach to synthesize the various areas in finance into a consolidated framework and implements the theories and practices in the world of digital economy. The first part of this book extends the fundamentals of asset management...

Digital platforms, such as Alibaba and Amazon, operate an online marketplace to facilitate transactions. This paper studies a platform’s business model choice between accepting cash and issuing tokens, as well as the implications for welfare, resiliency, and interoperability. A cash platform...

We study a model of financial intermediation, payment choice, and privacy in the digital economy. Cash preserves anonymity but cannot be used for more efficient online transactions. By contrast, bank deposits can be used online but do not preserve anonymity. Banks use the information contained...