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Financial Markets : Imperfect Information and Risk Management (Central Issues in Contemporary Economic Theory and Policy)

Financial Markets : Imperfect Information and Risk Management (Central Issues in Contemporary Economic Theory and Policy)

1784546
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Описание
This book concentrates on one of the most important directions for research on banking and finance for the next decade: the problem of information and risk management. Recent theoretical and empirical contributions consider asymmetric information between investors and financiers as a major determinant of financial risk. In this framwork, financial and banking innovation may be regarded as policy and individual agents' response to the problem of asymmetric information and risk management and also as a self-generated innovation process posing new challenges to policymakers in terms of informational efficiency and risk control.