Financial services and financial institutions: value creation in theory and practice
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Upper Saddle River, NJ
Prentice Hall
1996
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XIV, 797 S. graph. Darst. |
| ISBN: | 0023295457 |
Internformat
MARC
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Datensatz im Suchindex
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|---|---|
| adam_text | Brief Contents
PART I THE FINANCIAL SERVICES INDUSTRY
Chapter 1 Financial Services: An Industry in Transition 1
Chapter 2 Financial Services and Value Production 13
Chapter 3 Financial Services and the Economy 41
Chapter 4 Assessing Financial Institutions Stock Performance 105
Chapter 5 Analysis of Performance Using Accounting Data 131
PART II VALUE PRODUCTION IN FINANCIAL SERVICES
Chapter 6 Financial Services: Economic Overview 169
Chapter 7 Overview of Financial Service Markets
and Instruments: Credit 199
Chapter 8 Value Production in Credit Services 241
Chapter 9 Securities Trading, Dealing, and Origination 269
Chapter 10 Transaction Processing Services 301
Chapter 11 Insurance Services 333
Chapter 12 Asset Management and Information
and Advisory Services 367
PART III THE ECONOMIC ENVIRONMENT
OF FINANCIAL INSTITUTIONS
Chapter 13 The Economic Environment 391
Chapter 14 Regulation of Deposit Taking Financial Institutions 425
iv Brief Contents
Chapter 15 Regulation of Securities Markets 453
Chapter 16 Regulation of Insurance Activities and Markets 479
Chapter 17 The Tax Environment and Financial Services 497
PART IV PORTFOLIO AND RISK MANAGEMENT
Chapter 18 Portfolio Management and Financial Services 519
Chapter 19 Portfolio Risks: Measurement and Management 549
Chapter 20 Forward and Futures Contracts and Portfolio Risks 591
Chapter 21 Options, Portfolio Risk,
and Pricing Financial Services 635
PART V FINANCIAL INSTITUTION PLANNING
AND STRATEGIC ISSUES
Chapter 22 Projecting Financial Institution Performance 679
Chapter 23 Financial Institution Operating Costs 711
Chapter 24 Optimizing Financial Institution Performance 753
Index 779
Contents
Preface xj
PART I THE FINANCIAL SERVICES INDUSTRY
1 Financial Services: An Industry in Transition 1
1.1 Recent Developments in Financial Services 1
1.2 People and Financial Institutions 4
1.3 Methods Used in the Book 6
1.4 Overview of the Book 9
1.5 Conclusion 10
2 Financial Services and Value Production 13
2.1 Value Added in Financial Services 14
2.2 Return on Investment in Financial Services 20
2.3 Elements in the Financial Services Value Chain 23
2.4 Financial Services 28
2.5 Summary 39
3 Financial Services and the Economy 41
3.1 Financial Services: Segmentation and Regulation 41
3.2 Economic Sectors, Financial Markets, and Financial Flows 43
3.3 Organization of the Financial Services Industry 64
3.4 Organizational Structure of Financial Firms 97
3.5 Summary 101
vi Contents
4 Assessing Financial Institutions Stock Performance 105
4.1 Ownership and Value of Financial Institutions 105
4.2 Valuation of Financial Service Firms in Practice 112
4.3 Investors Expected Returns 118
4.4 Summary 128
5 Analysis of Performance Using Accounting Data 131
5.1 Financial Analysis and Financial Statements 131
5.2 Guide to Financial Analysis of Financial Institutions 136
5.3 Analysis of Return on Total Assets: Segment Analysis 158
5.4 Analysis of Financial Institutions: Important Issues 164
5.5 Summary 167
PART II VALUE PRODUCTION IN FINANCIAL SERVICES
6 Financial Services: Economic Overview 169
6.1 Characteristics of Users of Financial Services 170
6.2 Information and Financial Institutions in the Economy 185
6.3 Principals, Agents, and the Theory of Agency and Contracts 191
6.4 Rules and Regulations and Agency Problems 196
6.5 Summary 197
7 Overview of Financial Service Markets
and Instruments: Credit 199
7.1 Markets for Financial Services: The Credit Market 200
7.2 Demand for Credit Services 204
7.3 Supply of Credit Services 214
7.4 Organizing Activities to Provide Credit Services 220
7.5 Summary 237
8 Value Production in Credit Services 241
8.1 Loan Contract Design and Value Production 242
8.2 Pricing and Term Setting in Credit Services 244
8.3 Value Creation in Information and Monitoring: Relationships 252
8.4 Funding Credit and Risk Management 257
8.5 Risk Bearing and Sharing: Financial Engineering Products 263
8.6 Summary 265
Contents vii
9 Securities Trading, Dealing, and Origination 269
9.1 Overview of Securities Markets and Instruments 270
9.2 Value in Trading Securities: Economics of Market Structure 278
93 Value Production in Market Making or Dealing in Securities 285
9.4 Value Production in Securities Origination 292
9.5 Summary 298
10 Transaction Processing Services 301
10.1 The Payments System: Example of Transaction Processing 301
10.2 Economics of Clearing Transactions 310
10.3 Transaction Processing Services 315
10.4 Value Chain in Transaction Processing 323
10.5 Summary 330
11 Insurance Services 333
11.1 Economics of Insurance 333
11.2 Economics of Life Insurance and Related Services 335
11.3 Economics of Casualty Insurance 348
11.4 Value Production in Insurance 357
11.5 Summary 364
12 Asset Management and Information and Advisory Services 367
12.1 Types of Investor/Asset Manager Relationships 368
12.2 Value Production in Asset Management Services 374
12.3 Information and Advisory Services 381
12.4 Summary 388
PART III THE ECONOMIC ENVIRONMENT
OF FINANCIAL INSTITUTIONS
13 The Economic Environment 391
13.1 Economic Environment and Financial Institutions 391
13.2 Assessing the Impact of Macroeconomic Factors 406
133 Microeconomic Risk Factors 419
13.4 Summary 422
viii Contents
14 Regulation of Deposit Taking Financial Institutions 425
14.1 Charters, Franchises, and Value 425
14.2 Reasons for Deposit Taking Institution Regulation 430
14.3 Deposit Insurance and Absorption of Economy Wide Risks 434
14.4 Regulation of Competition and Prices 439
14.5 Asset and Activity Regulation 442
14.6 Capital Requirements 447
14.7 Summary 449
15 Regulation of Securities Markets 453
15.1 Overview of Securities Markets: Participants and Activities 453
15.2 Regulation of Participants and Relationships in Securities Markets 456
15.3 Regulation of Securities Firms 463
15.4 Market Regulation: Trading Practices and Rules 467
15.5 Regulation of Investment Companies, Advisors, and Indentures 468
15.6 Regulatory Risk Facing Securities Firms 471
15.7 Summary 475
16 Regulation of Insurance Activities and Markets 479
16.1 Overview of Government Insurance Regulation 479
16.2 The Regulatory Process 484
16.3 Regulation of Insurance Company Activities 486
16.4 Current Issues in Insurance Regulation 493
16.5 Summary 494
17 The Tax Environment and Financial Services 497
17.1 Taxes and Financial Services 497
17.2 Taxes and the Demand for Financial Services 502
17.3 Taxation of Financial Institutions 507
17.4 Taxes and Value Production 515
17.5 Summary 517
PART IV PORTFOLIO AND RISK MANAGEMENT
18 Portfolio Management and Financial Services 519
18.1 Portfolios 520
18.2 Asset and Leveraged Portfolio Management 522
Contents ix
18.3 Single Period Versus Multiperiod Portfolio Management 531
18.4 Portfolio Risks 534
18.5 Portfolio Risk Management 538
18.6 Leverage Policies 542
18.7 Summary 547
19 Portfolio Risks: Measurement and Management 549
19.1 Fixed Income Securities and Interest Rate Risk 550
19.2 Duration as Interest Rate Risk Measure: Theory and Practice 556
193 Critique of Duration and Alternative Risk Measures 565
19.4 Measuring the Interest Rate Risk of a Portfolio 568
19.5 Measurement and Management of Noninterest Portfolio Risk 576
19.6 Simulation as an Asset Liability Management Assessment Tool 584
19.7 Critique of Value Production in Hedging Interest Rate Risk 586
19.8 Summary 588
20 Forward and Futures Contracts and Portfolio Risks 591
20.1 Description of Forward and Futures Contracts 592
20.2 Hedging and Speculating Using Futures and Forward Markets 604
20.3 Practical Concerns in Hedging with Forwards and Futures 610
20.4 Forward and Futures Contract Prices 617
20.5 Futures and Forwards and Value in Portfolio Management 625
20.6 Value Production in Risk Management Services 630
20.7 Summary 632
21 Options, Portfolio Risk, and Pricing Financial Services 635
21.1 Option Contract Characteristics 636
21.2 Hedging Asset Value Risks with Options 647
21.3 Option Pricing Theory 653
21.4 Black Scholes and Other Option Pricing Models 658
21.5 The Pervasiveness of Options 663
21.6 Pricing Financial Products Using Futures and Options 668
21.7 Value Production and Hedging with Options and Futures 673
21.8 Summary 675
x Contents
PARTV FINANCIAL INSTITUTION PLANNING
AND STRATEGIC ISSUES
22 Projecting Financial Institution Performance 679
22.1 Use of Financial Forecasts and Projections 679
22.2 Models Used in Financial Projections 681
22.3 Scope of Projections or Forecasts 684
22.4 Types of Variables in Projections 685
22.5 Methods for Projecting Values of Variables 693
22.6 Using Projections 706
22.7 Summary 708
23 Financial Institution Operating Costs 711
23.1 Costs and Activities 711
23.2 Inputs into Production of Financial Services 726
23.3 Financial Service Firm Outputs 730
23.4 Estimating Costs 733
23.5 Empirical Estimation of Costs and Implications 748
23 6 Summary 750
24 Optimizing Financial Institution Performance 753
24.1 Employee Compensation 753
24.2 Financial Service Firm Organizations 76l
24.3 Transfer Pricing 767
24.4 Growth and Change 773
24.5 Summary 775
Index 779
|
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| isbn | 0023295457 |
| language | English |
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| spelling | Dietrich, J. Kimball Verfasser aut Financial services and financial institutions value creation in theory and practice J. Kimball Dietrich Upper Saddle River, NJ Prentice Hall 1996 XIV, 797 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Financiële instellingen gtt Financial institutions Management Financial services industry Finanzdienstleistungsmarkt (DE-588)4302181-5 gnd rswk-swf Finanzdienstleistungsmarkt (DE-588)4302181-5 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007269223&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Dietrich, J. Kimball Financial services and financial institutions value creation in theory and practice Financiële instellingen gtt Financial institutions Management Financial services industry Finanzdienstleistungsmarkt (DE-588)4302181-5 gnd |
| subject_GND | (DE-588)4302181-5 |
| title | Financial services and financial institutions value creation in theory and practice |
| title_auth | Financial services and financial institutions value creation in theory and practice |
| title_exact_search | Financial services and financial institutions value creation in theory and practice |
| title_full | Financial services and financial institutions value creation in theory and practice J. Kimball Dietrich |
| title_fullStr | Financial services and financial institutions value creation in theory and practice J. Kimball Dietrich |
| title_full_unstemmed | Financial services and financial institutions value creation in theory and practice J. Kimball Dietrich |
| title_short | Financial services and financial institutions |
| title_sort | financial services and financial institutions value creation in theory and practice |
| title_sub | value creation in theory and practice |
| topic | Financiële instellingen gtt Financial institutions Management Financial services industry Finanzdienstleistungsmarkt (DE-588)4302181-5 gnd |
| topic_facet | Financiële instellingen Financial institutions Management Financial services industry Finanzdienstleistungsmarkt |
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