Perspectives on information and supply chains within investment banking

Supply chain concepts are usually confined to industries where there are core sourcing, manufacture and delivery processes. These industries are usually to be found within the industrial products, aerospace, automotive, chemical and pharmaceutical sectors. Supply Chain Management (SCM) concepts, have not necessarily been associated with financial services, apart from concepts of information management and process flow, in the loosest sense. This paper attempts to describe how supply chain concepts are very much an inherent part of the financial services process landscape, with particular reference to the field of investment banking. In doing so, the paper explores IT/IS issues impacting within the investment banking industry, focussing on the requirements for efficient distribution of sales and research data. Following this, the authors extend concepts of supply chain and information management, to realise the concept of an Investment Banking Information Supply Chain (IBISC)

Technological Evolution and the Devolution of Corporate Financial Reporting

My claim is that the technology link to the recent disclosure scandals is no coincidence. To be sure, cheating tempts all who seek wealth, in whatever line of business they find themselves. I want to show, however, how the rapid pace of innovation at a number of levels offered motive, opportunity, and rationalization for a downshift in financial reporting norms, which in turn made outright fraud more probable

Impact Investments: An Emerging Asset Class

Examines the impact investment market landscape, what makes it an emerging asset class, expectations for financial returns, estimates of potential investment opportunities in specific sectors, and risk management and performance monitoring issues

Understanding Occupational and Skill Demand in New Jersey's Finance Industry

The finance industry in New Jersey employs over 200,000 people. Many more workers benefit from the state's proximity to the finance industry in New York City. Jobs in the industry are evolving rapidly in response to national and global trends, such as deregulation, increasingly complex laws, and new technologies. As jobs change, skill requirements for both entry-level and incumbent workers increase. This report summarizes the skill, knowledge, and educational requirements of key finance occupations and identifies strategies for meeting the workforce challenges facing the industry

The impact of Kazakhstan accession to the World Trade Organization : a quantitative assessment

In this paper the authors use a computable general equilibrium model of the Kazakhstan economy to assess the impact of accession to the World Trade Organization (WTO), which encompasses (1) improved market access; (2) Kazakhstan tariff reduction; (3) reduction of barriers against entry by multinational service providers; and (4) reform of local content and value-added tax policies confronting multinational firms in the oil sector. They assume that foreign direct investment in business services is necessary for multinationals to compete well with Kazakstan business services providers, but cross-border service provision is also present. The model incorporates productivity effects in both goods and services markets endogenously, through a Dixit-Stiglitz framework. The authors estimated the ad valorem equivalent of barriers to foreign direct investment based on detailed questionnaires completed by specialized research institutes in Kazakhstan. They estimate that Kazakhstan will gain about 6.7 percent of the value of Kazakhstan consumption in the medium run from WTO accession and up to 17.5 percent in the long run. They estimate that the largest gains to Kazakhstan will derive from liberalization of barriers against multinational service providers, but the other three elements of WTO accession that the authors model all contribute positively to the estimated gains. Piecemeal sensitivity analysis shows that qualitatively the results are robust, but there are four parameters in the model that significantly affect the estimated magnitude of the gains from WTO accession.Economic Theory&Research,Transport Economics Policy&Planning,Free Trade,ICT Policy and Strategies,Investment and Investment Climate

Nigerian Stock Exchange and Economic Development

The need to critically analyze the efficiency of capital market on the Nigerian economy for the period between 1979 and 2008 as a reference point for developing economies is the bedrock of this work. The results indicate that the stock market indeed contributes to economic growth as all variables conformed to expectation. The Nigerian Stock Exchange has not been having the best of times as an aftermath of the global financial crisis after an unprecedented surge in returns on investment which has resulted in a continuous downturn in market capitalization. Multiple regression method of econometric analysis was used for the work. The major findings revealed a negative relationship between the market capitalization and the Gross Domestic Product as well as a negative relationship between the turnover ratio and the Gross Domestic Product while a positive relationship was observed between the all-share index and the Gross Domestic Product. These findings led to some policy formulations aimed at an improved and developed market for potential gain to the benefit of rational investors even across national borders

Miller's Equilibrium and Uncertainty.

This paper highlights the arbitrage by firms in Miller's (1977) equilibrium when consumers face (short) selling constraints to restrict tax arbitrage. In this competitive equilibrium firms create risky tax-preferred securities that divide investors into strict tax clienteles; any changes in debt-equity ratios by individual firms have no real effects on consumers because other firms undo them.CAPITAL ; BUSINESS FINANCING ; ARBITRAGE

The potential impact of explicit Basel II operational risk capital charges on the competitive environment of processing banks in the United States

Basel II replaces Basel I’s implicit capital charge on operational risk with an explicit charge. Certain U.S. banks concentrated in processing-related business lines – which have significant operational risk – could thus face an increase in overall minimum regulatory capital requirements. Some have argued that, as a result, these so-called “processing banks” would be disadvantaged vis-à-vis competitors not subject to regulatory capital requirements for operational risk. This paper evaluates these concerns.Bank capital ; Risk management ; Basel capital accord