Financial Innovation - Sekhar, G. V. Satya
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Financial innovation is regular feature of the global financial system. Financial innovation results in greater economic efficiency over time. In the process of creating a new financial product, besides basic theory of financial management, a financial engineer needs to acquire knowledge of optimization and financial modeling techniques. Modern financial innovation is underpinned by a rich literature including the seminal studies by Levich (1985), Smith, Smithson, and Wilford (1990), Verghese (1990), Merton (1992), Levine (1997), John D Finnerty (2002), Tufano (2003) and Draghi (2008), among…mehr

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Produktbeschreibung
Financial innovation is regular feature of the global financial system. Financial innovation results in greater economic efficiency over time. In the process of creating a new financial product, besides basic theory of financial management, a financial engineer needs to acquire knowledge of optimization and financial modeling techniques. Modern financial innovation is underpinned by a rich literature including the seminal studies by Levich (1985), Smith, Smithson, and Wilford (1990), Verghese (1990), Merton (1992), Levine (1997), John D Finnerty (2002), Tufano (2003) and Draghi (2008), among many others. This book corresponds to the need to provide an integrated study on financial innovation and the economic regulatory mechanism. A key part of financial innovation covered in the book is the process of creating innovative financial securities and derivative pricing that offers new pay-offs to investors. The book also covers a selection of empirical studies corroborating financial innovation theories. It also exposes myths surrounding performance evaluation models. This book is presented in six chapters. The first chapter outlines important considerations on the application of financial innovation theories. The second chapter presents the theories that underpin financial innovation practice. The third chapter focuses on use of technology for financial modeling. The fourth chapter identifies the relationship between financial innovation and the wider economic system. The fifth chapter discusses the place of financial innovation in the global financial system. The sixth and final chapter presents a comparative analysis of India and the United States.
Autorenporträt
Dr G. V. Satya Sekhar, MCom, MBA, MPhil, PhD, is Associate Professor in the Centre for Distance Learning at GITAM University, Visakhapatnam. With 20 years of teaching and research experience, he has developed study materials for the Executive MBA Programme at Andhra University and for the Centre for Distance Learning at GITAM University. He has also published widely in national and international reputed journals and has authored several books including 'Management Information Systems', 'Managerial Economics', 'Business Policy and Strategic Management', 'Performance Appraisal of Indian Mutual Funds', 'Strategical Financial Management', 'The Indian Mutual Fund Industry' and 'The Management of Mutual Funds'. Dr Satya Sekhar has participated in and presented papers at various national and international seminars.