Economies of scope in financial intermediation continue as a focal point in strategic and regulatory debates. In this paper, we summarize the theoretical research on the value of diversification in financial services firms, and survey the empirical research so far on the conglomerate discount in...

Spanish Abstract: Este trabajo analiza cómo se han desenvuelto la concentración bancaria y la reorganización financiera en España y Portugal en el periodo post-crisis. destaca la continuidad de tres tendencias preocupantes para la estabilidad financiera en ambos países: el aumento del...

This paper discusses how Contingent Convertible Bonds (CCB) influence the risk-taking behaviour of managers. A methodology to measure the impact is presented. The results show that the decision of issuing CCB to finance the firm's assets sets incentives to managers to increase risk, in case the...

We provide detailed descriptions, including over 550 mathematical formulas, for over 150 trading strategies across a host of asset classes (and trading styles). This includes stocks, options, fixed income, futures, ETFs, indexes, commodities, foreign exchange, convertibles, structured assets,...

Indian banking sector has witnessed revolution due to tough competition from private and international counter parts. Traditional Indian banks are trying to makeover and match in terms of services provided by foreign and private counterparts. Growth and extension have become indispensable for...

Traditionally, a non-bank financial company (NBFC) facing financial insolvency would reorganize pursuant to Chapter 11 of the Bankruptcy Code. This was the case for Lehman-Brothers in 2008, culminating with a large portion of the company being sold to Barclays. In the aftermath of the 2008...

This paper shows how network theory can improve our understanding of institutional investors' voting behavior and, more generally, their role in corporate governance. The standard idea is that institutional investors compete against each other on relative performance and hence might not cast...

Portuguese Abstract: A literatura que estuda o desempenho de grupos empresariais apresenta resultados contraditórios, os quais podem ser creditados às escolhas metodológicas destes estudos (LAHIRI; PURKAYASTHA, 2017). Este estudo propõe uma nova metodologia e avalia o impacto no valor de...

Some voices are defending the need for further consolidation as a way of fixing the problems remaining in the European banking system. While further consolidation has indeed some advantages and benefits, it also implies some drawbacks and costs. This paper discusses the implications of...