Financial Conglomerates
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Financial Conglomerates
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Author : James Maycock
language : en
Publisher: Gower Publishing Company, Limited
Release Date : 1986
Financial Conglomerates written by James Maycock and has been published by Gower Publishing Company, Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Conglomerate corporations categories.
Valuing Financial Conglomerates
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Author : Claudia Curi
language : it
Publisher: FrancoAngeli
Release Date : 2017-03-03T00:00:00+01:00
Valuing Financial Conglomerates written by Claudia Curi and has been published by FrancoAngeli this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-03T00:00:00+01:00 with Business & Economics categories.
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Financial Conglomerates
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Author : L. van den Berghe
language : en
Publisher: Springer Science & Business Media
Release Date : 1995-10-31
Financial Conglomerates written by L. van den Berghe and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-10-31 with Business & Economics categories.
In recent years financial conglomerates have been established throughout Europe. This horizontal diversification has attracted a great deal of attention in the banking and insurance sector, and has alarmed the supervisory authorities and the European Commission. Financial Conglomerates: New Rules for New Players? gives a broad, innovative survey of the following aspects: it analyzes different sets of definitions of financial conglomerates, groups, consolidation criteria, etc., testing the practical effects of these definitions on the basis of a detailed relational database; although the benefits of financial conglomerates are straightforward, it is clear that quite a number of potential risks cannot be ignored; moreover, the differences in regulation of the solvency requirements for banks, insurance companies and investment firms are analyzed in order to look for a possible approach for calculating the necessary level of solvency for financial conglomerates. Audience: Required reading for practitioners as well as academic researchers in both the financial and the insurance markets. Strategic as well as regulatory perspectives are relevant disciplines.
Creating The Future With All Finance And Financial Conglomerates
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Author : L. van den Berghe
language : en
Publisher: Springer
Release Date : 2010-10-29
Creating The Future With All Finance And Financial Conglomerates written by L. van den Berghe and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-29 with Business & Economics categories.
Creating the Future with All Finance and Financial Conglomerates comprises an academic search for an understanding of all finance and financial conglomerates. It presents a strategic and economic analysis of diversification strategies and the growing interface between different types of financial firms. On the basis of a solid analysis of theoretical foundations and practical value, the book develops basic concepts of creating the future: especially solutions in managing risks and fresh ideas for the development of integrated financial services. The structure of the book is logical: starting on theoretical foundations (section 1, part A) and examining the economic value of All Finance and Financial Conglomerates (part B), leads to creating a concept for the future (part C). Case studies add additional practical value to this research. The review of the subject is completed by aspects of risk management in this sector and by political guidelines for the EU single market (section 2). The book builds further on Professor Van den Berghe's first publication, entitled Financial Conglomerates - New Rules for New Players (published by Kluwer Academic Publishers in October 1995) and broadens the scope in the direction of strategic and managerial aspects. The following five aspects underline the innovativeness of the material: The volume is not only focused on the diversification of banks via `bancassurance', but also analyses in depth the parallel developments in the insurance market, whereby insurers and insurance intermediaries launch themselves in the direction of `assurfinance'; The material analyses not only the cross-selling of each other's products and the blurring of the market boundaries, but also the diversification, collaboration, and integration on all other levels and functions; New conceptual tools (the financial conglomerates control board) are developed to provide a more in-depth comparison of the many cases of this international trend; The book goes far beyond the categorisation of the mode of diversification, by looking at all managerial aspects of such a growth strategy; and The work looks at the economic and legal aspects involved as well as at the more strategic and managerial aspects. This research has been made possible thanks to the financial support of The LEVOB Foundation.
International Financial Conglomerates
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Author : Christian Alexander Mecklenburg-Guzman
language : de
Publisher: GRIN Verlag
Release Date : 2011-08-22
International Financial Conglomerates written by Christian Alexander Mecklenburg-Guzman and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-22 with Business & Economics categories.
Wissenschaftlicher Aufsatz aus dem Jahr 2011 im Fachbereich VWL - Finanzwissenschaft, Note: Distinction, University of Warwick (School of Law), Veranstaltung: International Corporate Governance and Financial Regulation, Sprache: Deutsch, Abstract: International financial conglomerates are the result of the last three decade’s policy of deregulation and globalisation. This meant the convergence of commercial banking, investment banking and sometimes insurance in the United States of America with a cross-border expansion. Yet, as has been seen in the recent 2007-2009 crisis (the crisis), those conglomerates create a wholly new host of challenges due to their activities, prime role as counterparty activities in the credit default market, size and structure. Especially their central role in market-financing of other financial institutions as well as other types of companies creates globally systemic risk. A consistent policy which mitigates uncertainty during times of financial crises is essential; however, the rationale behind the US authority behind the ad-hoc responses dealing with AIG, Bear Stearns (BS) and Lehman Brothers Holdings Inc (LB) are very hard to distil, if at all. It can be claimed that there was no consistency in the rescue efforts. In the first case, US authorities injected capital into the ailing company to keep it alive. In the BS case, authorities supported the takeover by JP Morgan using public funds. In the last case, LB, since no potential buyer could be found and authorities did no facilitate any support, the company had to file a petition under Chapter 11.This shows the mechanisms but also difficulties authorities encounter when they deal with those systemic relevant institutions. They have to try to prevent moral hazard incentives, avoid spillovers to other industries and reduce costs to taxpayers. Constructive ambiguity in bail-outs is related to the prevention of moral hazard but increases simultaneously uncertainty, the chance of ill-considered bail- outs, spillovers and delays in regulatory actions. Other mechanisms like capital injections are very costly for taxpayers. The orderly insolvency procedure of systemically relevant institutions seems an appropriate response which mitigates above-mentioned issues when preventing the deterioration of asset value. Existing legislation did not allow, however, the Federal Deposit Insurance Corporation (FDIC) to take the conglomerates under receivership to prevent spillovers and the value deterioration it would experience using the regular bankruptcy regime.
Financial Conglomerates And The Chinese Wall
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Author : Harry McVea
language : en
Publisher:
Release Date :
Financial Conglomerates And The Chinese Wall written by Harry McVea and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with Conflict of interests categories.
Examines how regulators ensure that the growing number of conglomerates are regulated sufficiently strongly to eradicate systemic risks and conflict of interest abuses, yet are flexible enough to allow the benefits of conglomeration to be secured. It looks particularly at the Chinese wall.
Economic Capital And Financial Risk Management For Financial Services Firms And Conglomerates
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Author : B. Porteous
language : en
Publisher: Springer
Release Date : 2005-12-19
Economic Capital And Financial Risk Management For Financial Services Firms And Conglomerates written by B. Porteous and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-12-19 with Business & Economics categories.
The authors present a comprehensive and timely discussion of economic capital and financial risk management for financial services firms and conglomerates. Topics covered include: the different types of risks that firms collect; risk governance issues; how stress testing can be used to measure risk; the provision of a clear and precise definition of economic capital; the different types of capital that are eligible to back regulatory capital, and; the development of models that can be used to estimate a firm's economic capital requirements. A unique feature of the book is that, for the first time, the economic capital requirements of financial services firms across the entire risk spectrum, from the short end to the long end, are considered in one book. The authors develop models to estimate the economic capital requirements of banks, asset management firms, life and non-life insurance firms, pension funds, and the financial services conglomerates that comprise these firms. Economic capital is compared to regulatory capital and regulatory capital arbitrage is discussed. The diversification benefit present in financial services conglomerates is quantified and the practical management of this diversification benefit is dealt with. The authors give new insights into capital management and performance measurement for financial services conglomerates and provide detailed descriptions of the main financial services firm regulatory capital changes that are ongoing at the time of writing. This superb and original book charts new ground in the practical application of economic capital for financial services firms and conglomerates. It is required reading for all capital allocation and risk professionals.
Risk Diversification By European Financial Conglomerates
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Author : Jan Frederik Slijkerman
language : en
Publisher:
Release Date : 2005
Risk Diversification By European Financial Conglomerates written by Jan Frederik Slijkerman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Risk assessment categories.
Other People S Money
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Author : John Kay
language : en
Publisher: Profile Books
Release Date : 2015-09-03
Other People S Money written by John Kay and has been published by Profile Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-03 with Business & Economics categories.
Shortlisted for the Orwell Prize 2016 We all depend on the finance sector. We need it to store our money, manage our payments, finance housing stock, restore infrastructure, fund retirement and support new business. But these roles comprise only a tiny sliver of the sector's activity: the vast majority of lending is within the finance sector. So what is it all for? What is the purpose of this activity? And why is it so profitable? John Kay, a distinguished economist with wide experience of the financial sector, argues that the industry's perceived profitability is partly illusory, and partly an appropriation of wealth created elsewhere - of other people's money. The financial sector, he shows, has grown too large, detached itself from ordinary business and everyday life, and has become an industry that mostly trades with itself, talks to itself, and judges itself by reference to standards which it has itself generated. And the outside world has itself adopted those standards, bailing out financial institutions that have failed all of us through greed and mismanagement. We need finance, but today we have far too much of a good thing. In Other People's Money John Kay shows in his inimitable style what has gone wrong in the dark heart of finance.
Financial Conglomerates
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Author : Lutgart A.A. Van den Berghe
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Financial Conglomerates written by Lutgart A.A. Van den Berghe and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Law categories.
The last couple of years, financial conglomerates have been established all over Europe. This horizontal diversification has not only attracted a great deal of attention in the banking and insurance sector but has also alarmed the supervisory authorities and the European Commission. Although the benefits of financial conglomerates are straightforward, it is clear that quite a number of potential risks can not be ignored. Since the phenomenon of "financial conglomeration" is rather new, the regulators do not possess a great deal of objective, scientific reference bases on which to construct the necessary regulations. Moreover the complexities and specific char acteristics of the financial conglomerates do not permit a simple extrapolation of the rules for industrial conglomerates. Even the extrapolation of banking regula tions to insurance groups and vice versa poses a lot of difficult questions. These observations lie at the origin of the research carried out at the Erasmus Finance and Insurance Centre (EPIC at the Erasmus University in Rotterdam), in collaboration with the Impulse Centre for Financial Services and Insurance (ALEA at the Vlerick School of Management of the University of Ghent). To confront the research results with the expertise of the business world and the supervisory authorities a workshop was organised in Rotterdam (1994). This publication is partly based on these research results and the workshop discussions. Three main blocs can be distinguished: the definition of financial conglomerates; the potential risks and the regulatory aspects; the strategic issues.