Financial Innovation Hardcover

Philip Molyneux

The late 20th century has seen an increase in the development of financial instruments, many of which have been off-balance-sheet activities. These instruments have become increasingly complex placing a higher demand on both the purchasers and the creators of such instruments. The risks involved and the penalties paid by those who have not adequately understood these products are all too well known. This text discusses in detail, through a blend of theory and empirical research, the modelling of financial instruments and examines the instruments that have been created over the past 20 years. The book focuses on the principles behind developing financial instruments and how the process can be modelled.

9780471986188

English

John Wiley And Sons Inc

02 Jun 1999

316

Philip Molyneux is Professor of Banking and Finance in the School of Accounting, Banking and Economics at the University of Wales, Banner and Professor of Financial Services and Financial Conglomerates at the Erasmus University, Rotterdam, The Netherlands. His main research interests relate to the structure, efficiency and performance of banking markets and financial systems, areas in which he has written widely. He has acted as a consultant to many international banks and organisations, including the New York Federal Reserve Bank, World Bank and European Commission. He is currently a member of the UK's National Institute's Advisory Panel on the European Financial Markets Programme. Nidal Shamroukh is a financial engineer at Algorithmics UK, an enterprise-wide risk management software provider. He is a graduate of Bilkent University, Turkey and obtained his MA and PhD degrees from University of Wales, Bangor. Currently he advises major banks on modelling their portfolios and managing their risks.

Nidal Shamroukh