Financialisation is a complex and dynamic process of enlarging the monetary and financial relations in economy and society. This paper deals with the analysis of the financial market structure such as: the role and magnitude of financial sectors, the dynamics of the banking sector versus the...

This article analyzes the manifold situations in which the efficient-market hypothesis (EMH) has influenced—or has failed to influence—federal securities regulation and state corporate law, and the prospective roles for the EMH in these contexts. In federal securities regulation, the EMH has...

Financialisation is a complex and dynamic process of enlarging the monetary and financial relations in economy and society. This paper deals with the analysis of the financial market structure such as: the role and magnitude of financial sectors, the dynamics of the banking sector versus the...

The work summarises the main literature on the impact of globalisation and of the crisis on banking systems.The main conclusion is that a more compelling approach to financial regulation appears as necessary, though the complete homogenisation of financial systems is not a goal to be sought. The...

From individual investors to corporations and financial firms, derivatives have been used to hedge against, or speculation, changes in prices, rates, indexes, potential defaults on debts. Without any oversight, derivatives market and especially OTC derivatives rapidly became out of control...

We examine the relevance and effectiveness of stock return correlations among financial institutions as an indicator of systemic risk. By analyzing the trends and fluctuations of daily stock return correlations and default correlations among the 22 largest bank holding companies and investment...

The deepening financial liberalisation and the tightening of financial integration globally have made it more challenging to manage macroeconomic policies in general, and to contain the spread of financial turbulence in particular. The financial sector has been shown to be inherently...

The financial crises that have emerged and developed in the recent decades have been characterized, mostly of an international dimension, with shocks quickly propagating through capital markets, through the international banking activities and, through the money markets. Regarding the impact of...

The present-day economic and financial crisis (depression) appears unprecedented in the last half century. The international financial crisis has been extended to the Romanian economy. However, in terms of direct impact, the Romanian banking system was less affected by not being exposed to toxic...

On February 12, 2010, SUERF, the Oesterreichische Nationalbank and the Bankwissenschaftliche Gesellschaft continued their established tradition of jointly organised conferences. As evidenced also by the 115 conference participants, this year's subject of "Contagion and Spillovers – New...