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...

We believe that few of today's ASP/BSP in-sourcers have the correct economic and operational structures in place to withstand a few more years of a less than favorable economic environment. Consequently, we believe that many should reassess their business models to be able not only to survive...

We analyse an economy where production is subject to moral hazard. The degree of the incentive (agency) costs introduced by the presence of moral hazard naturally depends on the information structure in the economy; it is cheaper to induce correct incentives in a society which possesses better...

Futurists have been speculating about the prospects for a cashless society for many years, and such predictions became more frequent following the introduction of "smart" cards -­ cards containing a computer chip -­ in the mid-1970s. One smart-card application of particular interest to central...

The author documents some stylized facts about the Canadian financial structure. He explores these empirical facts in the context of Canadian financial legislation and finds that, over the 1990s, Canadian businesses became more heavily dependent on financial markets as their primary source of...

Using a newly constructed data set, we compare sources of funds and investment strategies of venture capital (VC) funds in Germany, Israel, Japan and the UK. Sources of VC funds differ significantly across countries, e.g. banks are particularly important in Germany, corporations in Israel,...

The creeping stock market collapse eroded the wealth of funded pension systems. This led to political tensions between generations due to the fuzzy definition of property rights on the pension funds wealth. We argue that this problem can best be resolved by the introduction of generational...

Using a newly constructed data set, we compare sources of funds and investment activities of venture capital (VC) funds in Germany, Israel, Japan and the UK. Sources of VC funds differ significantly across countries, eg banks are particularly important in Germany, corporations in Israel,...

This paper forms part of the research on the transmission of monetary policy via the interest rates of Spanish banks and savings banks, analysed from a disaggregated perspective. In this respect, it considers structural factors that cannot be taken into account in more aggregated studies, as for...