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Elsevier

Contemporary Financial Intermediation

  • 4th Edition - April 17, 2019
  • Newer edition is available
  • Authors: Stuart I. Greenbaum, Anjan V. Thakor, Arnoud W. A. Boot
  • Language: English

Contemporary Financial Intermediation, 4th Edition by Greenbaum, Thakor, and Boot continues to offer a distinctive approach to the study of financial markets and institutions by… Read more

Description

Contemporary Financial Intermediation, 4th Edition by Greenbaum, Thakor, and Boot continues to offer a distinctive approach to the study of financial markets and institutions by presenting an integrated portrait that puts information and economic reasoning at the core. Instead of primarily naming and describing markets, regulations, and institutions as is common, Contemporary Financial Intermediation explores the subtlety, plasticity and fragility of financial institutions and credit markets. In this new edition every chapter has been updated and pedagogical supplements have been enhanced. For the financial sector, the best preprofessional training explains the reasons why markets, institutions, and regulators evolve they do, why we suffer recurring financial crises occur and how we typically react to them. Our textbook demands more in terms of quantitative skills and analysis, but its ability to teach about the forces shaping the financial world is unmatched.

Key features

  • Updates and expands a legacy title in a valuable field
  • Holds a prominent position in a growing portfolio of finance textbooks
  • Teaches tactics on how to recognize and forecast fluctuations in financial markets

Readership

Upper-division undergraduates and graduate students worldwide in courses such as Financial Markets and Institutions, Banking, and Commercial Bank Management

Table of contents

Part I. The Background Chapter 1. Basic Concepts

Part II. What is Financial Intermediation? Chapter 2. The Nature and Variety of Financial IntermediationChapter 3. The What, How, and Why of Financial Intermediaries

Part III. Identification and Management of Major Banking Risks Chapter 4. Bank RisksChapter 5. Interest Rate RiskChapter 6. Liquidity Risk

Part IV. “On Balance Sheet” Banking Activities Chapter 7. Spot Lending and Credit RiskChapter 8. Further Issues in Bank LendinChapter 9. Special Topics in Credit: Syndicated Loans, Loan Sales, and Project Finance

Part V. Off the Bank’s Balance Sheet Chapter 10. Off-Balance Sheet Banking and Contingent Claims ProductsChapter 11. Securitization

Part VI. The Funding of the Bank Chapter 12. The Deposit Contract, Deposit Insurance, and Shadow BankingChapter 13. Bank Capital Structure

Part VII. Financial Crises Chapter 14. The 2007–2009 Financial Crisis and Other Financial Crises

Part VIII. Bank Regulation Chapter 15. Objectives of Bank RegulationChapter 16. Milestones in Banking Legislation and Regulatory Reform

Part IX. Financial Innovation Chapter 17. The Evolution of Banks and Markets and the Role of Financial Innovation

Part X. The Future Chapter 18. The Future

Review quotes

"The landscape of banking is undergoing fundamental changes, with the emergence of new financial technologies and regulations and the rise of non-banks. This updated version of the standard textbook on banking is mandatory reading for all regulators, bankers, and students who wonder what is special about banks and what financial intermediation will look like in the future."—Luc Laeven, Director-General, European Central Bank

"This up-to-date standard work on financial intermediation, peppered with many concrete examples, is well founded in economic theory but never loses sight of the rapidly evolving reality of global finance."—Ralph de Haas, European Bank for Reconstruction and Development

"The banking sector has undergone significant changes in the decade since the global financial crisis.　 Technological change, increased non-bank competition, complex regulations, and shifts in globalization define the new landscape.　 The revised version of Contemporary Financial Intermediation provides an integrated framework for understanding and analyzing these changes. It is a must read for finance students, regulators and policy makers."—Deniz Anginer, The World Bank

Product details

About the authors

SG

Stuart I. Greenbaum

Stuart Greenbaum is the former Dean and professor emeritus at the Olin Business School at Washington University in St. Louis. He is the 2006 recipient of the Lifetime Achievement Award of the Financial Intermediation Research Society. He was named the Bank of America Professor of Managerial Leadership in 2000. Before joining the Olin School in 1995, Greenbaum served for 20 years as a faculty member of the Kellogg Graduate School of Management at Northwestern University where he was the Director of the Banking Research Center and the Norman Strunk Distinguished Professor of Financial Institutions. From 1988 to 1992, he served as Kellogg’s Associate Dean for Academic Affairs. Before Northwestern, Greenbaum served as Chairman of the Economics Department at the University of Kentucky, and on the staffs of the Comptroller of the Currency and the Federal Reserve.

Greenbaum has served on 17 corporate boards. He also served on the Dean’s Advisory Council of the Graduate Management Admission Council, and the board of AACSB International – The Association to Advance Collegiate Schools of Business, Executive Committee of the World Agricultural Forum, and on the board of the St. Louis Children’s Hospital. He was thrice appointed to the Federal Savings and Loan Advisory Council, and was twice officially commended for extraordinary public service. Greenbaum has consulted for the Ewing Marion Kauffman Foundation, the Council of Higher Education of Israel, the American Bankers Association, the Bank Administration Institute, the Comptroller of the Currency, the Federal Reserve System, and the Federal Home Loan Bank System, among others. He has on numerous occasions testified before Congressional committees, as well as other legislative bodies.

Greenbaum has published two books and more than 75 articles in academic journals and other professional media. He is founding editor of the Journal of Financial Intermediation and has served on the editorial boards of 10 other academic journals.

Affiliations and expertise
Bank of America Professor of Managerial Leadership and former Dean, John M. Olin School of Business, Washington University, St. Louis, MO, USA

AT

Anjan V. Thakor

Anjan Thakor is John E. Simon Professor of Finance, Director of Doctoral Programs, and Director of the WFA Center for Finance and Accounting Research, Olin Business School, Washington University in St. Louis. Prior to joining the Olin School, Thakor was The Edward J. Frey Professor of Banking and Finance at the Ross School of Business, University of Michigan, where he also served as chairman of the Finance area. He has served on the faculties of Indiana University, Northwestern University, and UCLA. He has consulted with many companies and organizations, including Whirlpool Corporation, Allision Engine Co., Bunge, Citigroup, RR Donnelley, Dana Corporation, AB-Inbev, Zenith Corporation, Lincoln National Corporation, J.P. Morgan, Landscape Structures, Inc., CIGNA, Borg-Warner Automative, Waxman Industries, Reuters, The Limited, Ryder Integrated Logistics, AT&T, CH2M Hill, Takata Corporation, Tyson Foods, Spartech, and the U.S. Department of Justice. Among many other honors, Dr. Thakor is the winner of the Reid MBA Teaching Excellence Award, Olin School of Business, 2005, and received the Outstanding Teacher in Doctoral Program award for the University of Michigan Business School, April 2003. He has published over 100 papers in leading academic journals in Finance and Economics, including The American Economic Review, Review of Economic Studies, Journal of Economic Theory, The Economic Journal, The RAND Journal of Economics, The Journal of Finance, The Review of Financial Studies, The Journal of Financial Intermediation, and The Journal of Financial Economics. Besides this book, he has published

nine other books. In a paper published in 2017, he was ranked as one of the five most prolific Finance authors during 2005–15.

He is a founding editor of The Journal of Financial Intermediation and one of the founders of The Financial Intermediation Research Society. He is a fellow of The Financial Theory Group. He has served as an expert witness on numerous banking cases and testified in US federal courts on issues related to bank valuation and capital structure.

Affiliations and expertise
John E. Simon Professor of Finance and Director of the PhD Program, Olin School of Business, Washington University, St. Louis, MO, USA

AB

Arnoud W. A. Boot

Arnoud Boot is professor of Corporate Finance and Financial Markets at the University of Amsterdam and research fellow at the Center for Economic Policy Research (CEPR) in London. He is a member of the Financial Economists Roundtable and fellow of the Royal Netherlands Academy of Arts and Sciences (KNAW). Arnoud Boot served on the Inaugural Advisory Scientific Committee of the European Systemic Risk Board (ESRB) and was chairman the Bank Council of the Dutch Central Bank (DNB). Earlier he was on the faculty of the Kellogg School of Management at Northwestern University, and was a partner in the Finance and Strategy Practice at McKinsey & Co. He is the past chairman of the European Finance Association and the Royal Netherlands Economics Association. In addition to his academic activities, Arnoud Boot is advisor to the Dutch government, and consultant to several financial institutions and corporations. He is a non-executive director of several corporations and agencies. His research focuses on corporate finance and financial institutions. His publications have appeared in major academic journals, such as the Journal of Finance, American Economic Review, Review of Financial Studies, and the Journal of Financial Intermediation.
Affiliations and expertise
Professor of Corporate Finance and Financial Markets, University of Amsterdam, The Netherlands

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