Financial Markets, Institutions and Instruments
FMII (Print ISSN 0963-8008; Online ISSN 1468-0416) is published five times a year in February, May, August, November, and December by Wiley Periodicals, Inc., Commerce Place, 350 Main Street, Malden, MA. New orders, renewals, sample copy requests, claims, change-of-address information and all other correspondence should be sent to the Subscriber Services Coordinator at the publisher’s Malden office.
Tom Ho, Miguel Palacios and Hans R. Stoll, “Dynamic Financial System: Complexity, Fragility and Regulatory Principles”
|No. 2||Francesco Vallascas and Jens Hagendorff, “CEO Bonus Compensation and Bank Default Risk: Evidence from the U.S. and Europe”|
Lorne N. Switzer and Jun Wang, “Default Risk Estimation, Bank Credit Risk, and Corporate Governance”
Christophe M. Boucher and Bertrand B. Maillet, “Learning by Failing: A Simple VaR Buffer”
Jan De Spiegeleer and Wim Schoutens, “Multiple Trigger CoCos : Contingent debt without death spiral risk”
Oliviero Roggi, Alesssandro Giannozzi, and Luca Mibelli, “CoCo Bonds, Conversion Prices and Risk Shifting Incentives. How Does the Conversion Ratio Affect Management’s Behavior?
Christophe Faugère,“The Fear Premium and Daily Comovements of the S&P 500 E/P Ratio and Treasury Yields before and During the 2008 Financial Crisis”
|No. 4||Van Son Lai and Xueying Zhang,“On the Value of Municipal Bond Insurance: An Empirical Analysis”|
Padma Kadiyala and P.V. Viswanath, “Size Effects in The Pricing of Corporate Bonds”
Jean Dermine, “Bank Corporate Governance, Beyond the Global Banking Crisis” Zoltan Pozsar, “Institutional Cash Pools and the Triffin Dilemma of the U.S. Banking System”
Jean Dermine, “Bank Corporate Governance, Beyond the Global Banking Crisis”
Zoltan Pozsar, “Institutional Cash Pools and the Triffin Dilemma of the U.S. Banking System”
|No.1||James R. Barth, Tong Li, Apanard Angkinand, Yuan-Hsin Chiang, and Li Li, “Industrial Loan Companies: Where Banking and Commerce Meet”|
|No. 2||Panagiotis K. Staikouras, “A Theoretical and Empirical Review of the EU Regulation on Credit Rating Agencies: In Search of Truth, Not Scapegoats"|
|No. 3||Thomas Lagner and Dodo zu Knyphausen-Aufseß, “Rating Agencies as Gatekeepers to the Capital Market – Practical Implications of 40 Years of Research”|
|No. 4||James E. McNulty and Joel T. Harper, “Obstacles to Developing a Banking System in Transition Economies: A Literature Survey”|
Bill B. Francis, Iftekhar Hasan, and Mingming Zhou, “Strategic Conservative Earnings Management of Technology Firms: Evidence from the IPO Market"
Panagiotis Dontis-Charitos, Philip Molyneux and Sotiris K. Staikouras, "Does the Stock Market Compensate Banks for Diversifying into the Insurance Business?"
Fotios Pasiouras, Sailesh Tanna, and Chrysovalantis Gaganis, "What Drives Acquisitions in the EU Banking Industry? The Role of Bank Regulation and Supervision Framework, Bank Specific and Market Specific Factors"
Donal McKillop and John O.S. Wilson, "Credit Unions: A Theoretical and Empirical Overview"
|No. 4||Bryane Michael, “Foreign Under-Investment in US Securities and the Role of Relational Capital”|
Bernard Delbecque and Elias Bengtsson, “Revisiting the European Asset Management Industry”
|No. 5||Hafiz Hoque, “The Choice and Role of Lockups in IPOs: Evidence from Heterogeneous Lockup Agreements”|
Sushanta Mallick and Yong Yang, “Sources of Financing, Profitability and Productivity: First Evidence from Matched Firms
Jean Dermine and Dirk Schoenmaker, “In Banking, Is Small Beautiful?”
Van Son Lai and Issouf Soumaré, “Risk-Based Capital and Credit Insurance Portfolios”
Rebekka Topp and Robert Perl, “Through-the-Cycle Ratings versus Point-in-Time Ratings and Implications of the Mapping Between Both Rating Types”
H. Semih Yildirim and Sunil K. Mohanty, “Geographic Deregulation and Competition in the U.S. Banking Industry “
Keith Cuthbertson, Dirk Nitzsche, and Niall O’Sullivan, “Mutual Fund Performance: Measurement and Evidence”
Phillip J. McKnight, Manouchehr Tavakoli, and Charlie Weir, "Underwriting Relationships and Analyst Independence in Europe"
Iftekhar Hasan and Maya Waisman, "Going Public in America: An Empirical Investigation of U.S. Bound Israeli IPOs"
George Athanassakos, Lucy F. Ackert, Budina Naydenova, and Ivo Tafkov, "Determinants of Investor Demand for Cross-Listed Firms"
Wouter van EEchoud, Wybe Hamersma, Arnd Sieling and Davig Young, "Future Regulation of Hedge Funds--A Systemic Ris Perspective"
Jorge A. Chan-Lau, "Regulatory Capital Charges for Too-Connected-To-Fail Institutions: A Practical Proposal"
Fernando F. Moreira, "Copula-Based Formulas to Estimate Unexpected Credit Losses (The Future of Basel Accords?)"
Jie Dai and Shenna Lapointe, "Discerning the Impact of Derivatives on Asset Risk: The Case of Canadian Banks"
Daniel Rösch and Harald Scheule, "Credit Portfolio Loss Forecasts for Economic Downturns"
Christophe Faugère and Julian Van Erlach, "A Required Yield Theory of Stock Market Valuation and Treasury Yield Determination"
Viral V. Acharya and Matthew Richardson (eds), "The Financial Crisis of 2007-2009: Causes and Remedies"
Yi Feng and Yisong S. Tian, "Option Expensing and Managerial Equity Incentives"
Theodore M. Barnhill, Jr. and Marcos Rietti Souto, "Systemic Bank Risk in Brazil: A Comprehensive Simulation of Correlated Market, Credit, Sovereign and Inter-Bank Risks"
Aswath Damodaran, "Equity Risk Premiums (ERP): Determinants, Estimation and Implications - A Post-Crisis Update"
Randall S. Kroszner, "The Effect of Removing Geographic Restrictions on Banking in the United States: Lessons for Europe"
Nicolas Le Pan, "Remarks"
John Laker, "Basel II – Observations from Down Under"
Luo Ping, "China’s Convergence to IFRS with Particular Respect to its Banking Industry"
Richard J. Herring and Jacopo Carmassi, "The Structure of Cross-sector Financial Supervision"
Brian Quinn, "Governance of the Regulatory Decision Making Process"
Harald Benink, Jón Daníelsson, and Ásgeir Jónsson, "On the Role of Regulatory Banking Capital"
Markus Krall, "Understanding Basel II Operational and Strategic Implications"
Silvina Vatnick, "Financial Reforms and Emerging Markets"
Sir Adam Ridley, "Regulation of Securities Trading (MiFID) and the Evolution of Exchanges, Clearing & Settlement"
James E. McNulty, "Bank Mergers and Small Firm Finance: Evidence from Lender Liability"
Xiaohui Gao and Miles Livingston, "The Components of Mutual Fund Fees"
Dilip B. Madan and Haluk Unal, "Pricing Reinsurance Contracts on FDIC Losses"
Christine M. Bradley and Kenneth D. Jones, "Loss Sharing Rules for Bank Holding Companies: An Assessment of the Federal Reserve's Source-of-
Strength Policy and the FDIC's Cross Guarantee Authority"
Enrique Bonsón, Tomás Escobar and Francisco Flores, "Operational Risk Measurement in Banking Institutions and Investment Firms: New European Evidence"
Jos Van Bommel, "Risk Sharing in a World with Processing Costs: Trading versus Banking"
Lucy F. Ackert and Yisong S. Tian, "Arbitrage, Liquidity, and the Valuation of Exchange Traded Funds"
2007: Vol. 16
Ingo Walter and Elif Sisli, "The Asset Management Industry in Asia: Dynamics of Growth, Structure and Performance"
Thorsten Beck and Augusto de la Torre, "The Basic Analytics of Access to Financial Services"
Allen N. Berger, "International Comparisons of Banking Efficiency"
Barry Williams, "Factors Determining Net Interest Margins in Australia: Domestic and Foreign Banks"
Imad A. Moosa, "Operational Risk: A Survey"
Enrique Bonsón, Tomás Escobar and Francisco Flores, “Sub-optimality of Income Statement-based Methods for Measuring Operational Risk under Basel II: Empirical Evidence from Spanish Banks”
Lucy F. Ackert, Rongbing Huang and Gabriel G. Ramírez, “Information Opacity, Credit Risk, and the Design of Loan Contracts for Private Firms”
Ilhyock Shim and Goetz von Peter “Distress Selling and Asset Market Feedback”
2006: Vol. 15
Neil B. Murphy, "Deposit Insurance, Banking Reform, and Financial Sector Development in Several Nations of Southeastern Europe"
Jean Dermine, "European Banking Integration: Don't Put the Cart before the Horse"
Louis Gagnon and G. Andrew Karolyi, "Price and Volatility Transmission across Borders"
Ralph de Haas and Ilko Naaborg, "Foreign Banks in Transition Countries:To Whom Do They Lend and How are They Financed?"
Philip J. McKnight and Steven K. Todd, "Analyst Forecasts and the Cross Section of European Stock Returns"
Sotiris K. Staikouras, "Financial Intermediaries and Interest Rate Risk: II"
2005: Vol. 14
Kenneth D. Jones and Chau Nguyen, “Increased Concentration in Banking: Megabanks and their Implications for Deposit Insurance”
Edgardo Demaestri and Gederico Guerrero, “Financial Supervision: Integrated or Specialized? The Case of Latin America and the Caribbean”
Jorge A. Chan-Lau, "Pension Funds and Emerging Markets"
Lucy F. Ackert, Bryan K. Church and Narayanan Jayaraman, "Circuit Breakers with Uncertainty about the Presence of Informed Agents: I Know What You Know . . . I Think"
Dan Galai and Haim Kedar-Levy, "Day-of-the-Week Effect in High Moments"
Elena Kalotychou and Sotiris K. Staikouras, "The Banking Exposure to International Lending: Regional Differences or Common Fundamentals?"
Sungho Choi and Iftekhar Hasan, "Ownership, Governance, and Bank Performance: Korean Experience"
Howard Davis, "A Review of the Review"
Jaime Caruana, "Implementation of Basel II"
Richard J. Herring. "Implementing Basel II: Is the Game Worth the Candle?"
Harald Benink and George Benston, "The Future of Banking Regulation in Developed Countries: Lessons from and for Europe"
Jón Daníelsson and Ásgeir Jónsson, "Countercyclical Capital and Currency Dependence"
George Kaufman, "Basel II vs. Prompt Corrective Action: Which is Best for Public Policy?"
Clas Wihlborg, "Basel II and the Need for Bank Distress Resolution Procedures"
2004: Vol. 13
Mika Vaihekoski, “Portfolio Construction for Tests of Asset Pricing Models”
Linda Allen, “The Basel Capital Accords and
International Mortgage Markets: A Survey of the Literature
Yong H. Kim and J. Jimmy Yang, “What Makes Circuit Breakers Attractive to Financial Markets? A Survey
Thomas J. O’Brien “Asset Pricing of Insurance Loss Liabilities: Some Examples”
Gianni De Nicolo, Philip Bartholomew, Jahanara Zam and Mary Zephirin, “Bank Consolidation, Internationalization, and Conglomeration: Trends and Implications for Financial Risk”
Lucy F. Ackert, Bryan K. Church and Ann B. Gillette, “Immediate Disclosure or Secrecy? The Release of Information in Experimental Asset Markets
Adrian E. Tschoegl, “Financial Integration, Dis-Integration and Emerging Re-Integration in the Eastern Mediterranean, c. 1850 to the Present”
2003: Vol. 12
John Bonin and Paul Wachtel, “Financial Sector Development in Transition Economies: Lessons from the First Decade”
James R. Barth, Daniel E. Nolle, Triphon Phumiwasana, and Glenn Yago, “A Cross-Country Analysis of the Bank Supervisory Framework and Bank Performance”
Joseph G. Haubrich and João A. C. Santos, “Alternative Forms of Mixing Banking with Commerce: Evidence from American History”
Gabriel Galati and Kostas Tsatsaronis, “The Impact of the Euro on Europe’s Financial Markets”
Darius Palia and Robert porter, “Contemporary Issues in Regulatory Risk Management of Commercial Banks”
Sotiris K. Staikouras, “The Interest Rate Risk Exposure of Financial Intermediaries: A Review of the Theory & Empirical Evidence”
John Doukas, Patricia Hall and Larry Lang, “Exchange Rate Exposure at the Firm and Industry Level”
Yan He and Chunchi Wu, “What Explains the Bid-Ask Spread Decline after Nasdaq Reforms?”
Dina Naples Layish, “A Monitoring Role for Deviations from Absolute Priority in Bankruptcy Resolution”
2002: Vol. 11
Stijn Claessens, Thomas Glaessner and Daniela Klingebiel, “E-Finance in Emerging Markets”
Barry Williams, “The Defensive Expansion Approach to Multinational Banking: Evidence to Date”
M. Kabir Hassan “The Microfinance Revolution and the Grameen Bank Experience in Bangladesh ”
Selected Essays in Finance (William L. Silber, Editor):
Matthew T. Callahan, "To Hedge or Not to Hedge…That Is the Question--Empirical Evidence from the North American Gold Mining Industry 1996 – 2000"
Noah E. Butensky, "Quantifying the Impact of Option-Based Compensation on Earnings for the 50 Largest U.S. Technology Companies"
Robert M. Tumarkin, "Internet Message Board Activity and Market Efficiency: A Case Study of Internet Service Sector using Raging-Bull.com"
Audra L. Low, "A Study of Two-Step Spinoffs"
Philip A. Cusick, "Price Effects of Addition or Deletion from the Standard & Poor's 500 Index: Evidence of Increasing Market Efficiency"
David T. Clark, “A Study of the Relationship Between Firm Age-At-IPO and Aftermarket Stock Performance”
Donald J. Mullineaux and Ivan C. Roten, “ Liquidity, Labels and Medium-Term Notes”
Theodore M. Barnhill, Jr., Panagiotis Papapanagiotou, and Liliana Schumacher, “Measuring Integrated Market and Credit Risk in Bank Portfolios: An Application to a Set of Hypothetical Banks Operating in South Africa ”
2001: Vol. 10
Bill Francis, Iftekhar Hasan and Feng Li, “Underpricing of Foreign and Domestic IPOs in the U.S. Market: Empirical Evidence”
Conrad Ciccoetello, Laura Field, Rosalind Bennett, “The Thrift IPO as the First Stage of its Subsequent Sale”
Joao A. C. Santos, “Bank Capital Regulation in Contemporary Banking Theory: A Review of the Literature”
Söhnke M. Bartram and Gunter Dufey, “ International Portfolio Investment: Theory, Evidence, and Institutional Framework”
Tarek S. Zaher and M. Kabir Hassan, “A Comparative Literature Survey of Islamic Finance and Banking”
Margarita Samartin, “Banks Increase Welfare”
Bryan Stanhouse and Duane Stock, “Optimal Debt Redemption Schedules for Municipal Bond Issues Utilizing Net Interest Cost as the Award Criteria”
Philip Gray and Stephen Gray, “A Framework for Valuing Derivative Securities”
Michael S. Pagano, “How Theories of Financial Intermediation and Corporate Risk-Management Influence Bank Risk-Taking Behavior
2000: Vol. 9
Adrian Tschoegl “International Banking Centers, Geography, and Foreign Banks”
Claudia M. Buch, “Why Do Banks Go Abroad?—Evidence from German Data”
George Kaufman, “Banking and Currency Crises and Systemic Risk: A Taxonomy and Review”
No. 3/ 4
Charles Stone and Anne Zissu, “Securitization: The Transformation of Illiquid Financial Assets into Liquid Capital Market Securities
Stuart Turnbull, “Capital Allocation and Risk Performance Measurement in a Financial Institution”
Sohnke Bartram, “Corporate Risk Management as a Lever for Shareholder Value Creation”
1999: Vol. 8
Ingo Walter, "The Global Asset Management Industry: Competitive Structure and Performance"
Elroy Dimson and Carolina Minio-Kozerski, "Closed-End Funds: A Survey"
Bernard Shull, “The Separation of Banking and Commerce in the United States: An Examination of Principal Issues”
Jeff Jewell and Miles Livingston, “A Comparison of Bond Ratings from Moody’s, S&P and Fitch”
Thomas Ho, “Allocate Capital and Measure Performances in a Financial Institution”
Craig Furfine, “The Microstructure of the Federal Funds Market”
Ronald Anderson and Nusret Cakici, “The Value of Deposit Insurance in the Presence of Interest Rate and Credit Risk”
Tarek Zaher, “How to Access Financial Data on the Internet and Use for Research in Finance and Economics”
1998: Vol. 7
Andrew Karolyi, "Why Do Companies List Shares Abroad? A Survey of the Evidence and its Managerial Implications"
Lawrence Harris, "Optimal Dynamic Order Submission Strategies in Some Stylized Trading Problems"
Clifford Ball and Hans Stoll, "Regulatory Capital of Financial Institutions: A Comparative Analysis"
Philip Molyneux, Eli Remolana and Rama Seth, "Modeling Foreign Bank Performance and Lending Behavior"
Rama Seth, Daniel E. Nolle and Sunil K. Mohanty, "Do Banks Follow Their Customers Abroad?"
Nasser Arshadi, "NYSE, NASDAQ, and Alternative Trading Systems"
Kimberly C. Gleason and Ike Mathur, "Wealth Effects on International Acquisitions by US Banks"
Charles Trzcinka, "The Conflicting Views and Management Practices of Institutional Equity Investing"
1997: Vol. 6
Stephen Figlewski, "Forecasting Volatility"
Edward Altman and Paul Narayanan, "An International Survey of Business Failure Classification Models"
Richard Roll, "Nominal Interest Rates and Loan Volume with Heterogeneous Beliefs"
George W. Fenn, Nellie Liang and Stephen Prowse, "The Private Equity Market: An Overview"
James Ang and Jeffrey A. Clark, "The Market Valuation of Bank Shares: With Implications for the Value Additivity Principle"
Frederick Choi, "Financial Reporting Requirements for Non-US Registrant: International Market Perspectives"
Sandeep Dahiya, "The Risks and Returns of Brady Bonds in a Portfolio Framework"
Amar Gande, "American Depository Receipts: Overview and Literature Survey"
Ingo Walter, "Universal Banking: A Shareholder Value Perspective"
1996: Vol. 5
Lin Chen, "Stochastic Mean and Stochastic Volatility--A Three-Factor Model of the Term Structure of Interest Rates and its Applications in Derivatives Pricing and Risk Management"
Roger D. Huang and R. Stoll, "Competitive Trading of NYSE Listed Stocks: Measurement and Interpretation of Trading Costs"
Abraham Ravid, "Debt Maturity--A Survey"
H. Kent Baker, "Trading Location and Liquidity: An Analysis of U.S. Dealer and Agency Markets for Common Stocks"
Sanjiv Ranjan Das and Rangarajan K. Sundaram, "Auction Theory: A Summary with Applications to Treasury Markets"
Abolhassan Jalilvand et al., "A Synthesis on Investment Banker Reputation and Pricing of Initial Public Offerings: New Evidence on Reverse LBOs"
Jean Dermine, "European Banking with a Single Currency"
Kate Phylaktis, "Black Market for Foreign Currency: A Survey of Theoretical and Empirical Issues"
1995: Vol. 4
Stephen Prowse, "Corporate Governance in an International Perspective: A Survey of Corporate Control Mechanisms Among Large Firms in the U.S., U.K., Japan and Germany "
Gregory F. Udell and Paul Wachtel, "Financial System Design for Formerly Planned Economies: Defining the Issues"
Azriel Levy and Miles Livingston, "The Gains from Diversification Reconsidered: Transaction Costs and Superior Information"
Nicholas Economides and Robert A. Schwartz, "Equity Trading Practices and Market Structure: Assessing Asset Managers’ Demand for Immediacy"
Anthony M. Santomero, "Financial Risk Management: The Whys and Hows"
Christopher B. Barry and Larry J. Lockwood, "New Directions in Research on Emerging Capital Markets"
Paul Brockman, "A Review and Analysis of the Holiday Effect"
Antony C. Cherin and Robert C. Hanson, "Dividend Reinvestment Plans: A Review of the Literature"
Nasser Arshadi and Thomas H. Eyssell, "Recent on Corporate Governance: Public Corporations, Corporate Takeovers, Defensive Tactics, and Insider Trading”
George M. Frankfurter, "The Rise and Fall of the CAPM Empire: A Review on Emerging Capital Markets"
1994: Vol. 3
Jess H. Chua and Richard S. Woodward, "Financial Performance of the U.S. Oil and Gas Industry: 1980-1990"
Jaime Cuevas Dermody and R. Tyrrell Rockafellar, "Mathematics of Debt Instruments Taxation"
Edwin J. Elton, et al., "Estimating Cost of Capital: Methods and Practice"
Thomas J. O’Brien, "Corporate Measurement of Economic Exposure to Foreign Exchange Risk"
Jianping Mei, "Frontiers of Real Estate Finance, Risk, Valuation and Market Timing"
Antonios Antoniou and Andrew J. Foster, "Short-Term and Long-Term Efficiency in Commodity Spot and Futures Markets"
Darius Palia, "Recent Evidence on Bank Mergers"
Helen K. Snider, "CEO Pay and Firm Performance: Theory vs. Practice"
Jeffrey Heisler, "Recent Research in Behavioral Finance"
1993: Vol. 2
Paul H. Kupiec, "Do Stock Prices Exhibit Excess Volatility, Frequently Deviate from Fundamental Values, and Generally Behave Inefficiently?"
George David Smith and Richard Sylla, "The Transformation of Financial Capitalism: An Essay on the History of American Capital Markets"
Mark Carey et al., "The Economics of Private Placements: A New Look"
Robert S. Chirinko, "Econometrics Models and Empirical Findings for Business Investment"
Lawrence Harris, "Consolidation, Fragmentation, Segmentation and Regulation"
George Yu, "Information Revelation and Aggregation in Financial Markets"
Clifford A. Ball, "A Review of Stochastic Volatility Models with Application to Option Pricing"
Leonard I. Nakamura, "Recent Research in Commercial Banking: Information and Lending"
Nicholas Economides, "Network Economics with Application to Finance"
1992: Vol. 1
Anthony M. Santomero and Eek-June Chung, "Evidence in Support of Broader Bank Powers"
Silvia B. Sagari and Gabriela Guidotti, "Venture Capital: The Lessons from the Developed World for The Developing Markets"
Marshall E. Blume and Jeremy J. Siegel, "The Theory of Security Pricing and Market Structure"
Ravi Shukla and Charles Trzcinka, Performance Measurement of Managed Portfolios"
Aswath Damodaran and Marti G. Subrahmanyam, "The Effects of Derivative Securities on the Markets for the Underlying Assets in the United States "
Douglas R. Emery and John D. Finnerty, "A Review of Recent Research Concerning Corporate Debt Provisions"
Stewart D. Hodges et al., "Recent Developments in Derivatives Securities: 20 Years on from Black and Scholes"
Kose John and Teresa A. John, "Coping with Financial Distress: A Survey of Recent Literature in Corporate Finance"