New Issues in Financial and Credit Markets

This collection of conference papers presents a contemporary insight into key trends impacting on the global financial sector post crisis and highlights new policy and research areas affecting banks and other financial institutions. The four main themes are: financial crises, credit activity, capital markets and risk management.

Franco Fiordelisi is Professor in Banking and Finance at the Faculty of Economics 'Federico Caffe' at the University of Rome III, Italy. He is also Visiting Research Fellow at the Bangor Business School, Bangor University, UK, and the Essex Finance Centre at the University of Essex, UK. His recent publications include: Shareholder Value in European Banking; New Drivers of Performance in a Changing Financial World; and Mergers and Acquisitions in European Banking. He has acted as a consultant to many banks and leasing and factoring companies. Philip Molyneux is Head of Bangor Business School, Bangor University, UK, and has published widely in the banking area. His most recent books include: An Introduction to Global Financial Markets Sixth Edition (with Stephen Valdez); An Introduction to Banking (with Barabara Casu and Claudia Girardone); and The Oxford Handbook of Banking (co-edited with Allen N. Berger and John O. Wilson). He is also the Series Editor of the Palgrave Macmillan Studies in Banking and Financial Institutions. Daniele Previati is Professor in Banking and Finance at the Faculty of Economics 'Federico Caffe' at the University of Rome III, Italy. He is also a member of the SDA Bocconi Faculty, Italy. His main research interest is the management of banks and other financial institutions, focusing on stakeholder management. He has published widely in academic journals and has acted as a consultant to many banks and financial institutions.

List of Tables and Figures
Introduction; F.Fiordelisi, P.Molyneux & D.Previati
PART I: FINANCIAL CRISES
China’s Macro-Policy and Regulatory Framework of the Financial Sector to be Tested by the Global Economic Downturn; R.W.H.Van Der Linden
Financial Turmoil and Asymmetric Information Theory - Evidence from E-MID Platform; C.Porzio,F.Battaglia, A.Meles & M.Grazia Starita
The Impact of European Financial Integration on Economic Growth; J.Maudos & J.Fernández De Guevara
Can Financial Supervision Enhance Central Bank’s Independence?; E.Seghezza & G.B.Pittaluga
The Impact of a Housing Price Bubble on the Intensity of the Recent Credit Crunch: Evidence from Different Countries; J.M.Pastor, J.Quesada & L.Serrano
Interbank Market and Liquidity Distribution during the Great Financial Crisis: The E-MID Case; G.A.Vento & P.La Ganga
Quantitative Easing Versus Credit Easing; F.H.Brinkhuis
Financial Reforms, Competition and Risk in Banking Markets; B.Casu, A.Ferrari & Tianshu Zhao
PART II: THE LENDING BUSINESS: MARKETS AND INSTRUMENTS
The Diffusion of Credit Brokers in Italy - A Spatial Econometric Analysis; F.Poli & E.T.Uberti
Determinants and Effects of Venture Capital and Private Equity Investments on Italian SMEs; R.Giovannini, V.Pesic & V.Capizzi
Transparency of Price Conditions in the Consumer Credit; M.Caratelli
PART III: CAPITAL MARKETS AND RISK MANAGEMENT
Profitability of Momentum and Reversal Patterns of Pan-European Industries Portfolio; G.Torluccio & M.Toscano
Duration Analysis - An Exposé; T.Lindblom & G.Bergendahl
Biased or Unbiased Risk Perception in the Financial Decision Making; C.Lucarelli & G.Brighetti
Banks’ Measurement of Operational Risk and the Effect on Regulatory Capital; T.Lindblom & M.Willesson
Index