American Finance Association Financial Intermediaries and the Saving-Investment Process Author(s): John G. Gurley and Edward S. Shaw Source: The Journal of Finance‚ Vol. 11‚ No. 2 (May‚ 1956)‚ pp. 257-276 Published by: Wiley for the American Finance Association Stable URL: http://www.jstor.org/stable/2976705 . Accessed: 16/09/2013 06:25 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at . http://www.jstor.org/page/info/about/policies/terms.jsp
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Chapter 2: Introduction to financial systems Aims The aim of this chapter is to investigate financial systems from both a functional and a structural perspective. We set out a taxonomy of financial intermediaries‚ securities and financial markets‚ and give an overview of the peculiarities of national financial systems. Learning outcomes By the end of this chapter‚ and having completed the essential readings and activities‚ you will be able to: • explain why financial systems exist (i.e. explain
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Functionalities of Financial Intermediaries 3 Maturity Transformation 3 Risk Transformation 4 Convenience Denomination 5 Advantages of Financial Intermediaries 6 Reconciling Conflicting Preferences of Lenders and Borrowers 7 Spreading and Reducing Investment Risks 8 Economies of Scale Reduces Costs 8 Economies of Scope Reduces Cost 9 Summary and Conclusion 10 Introduction Financial markets can often be considered as the collection of all potential buyers and sellers of various types of financial products
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Intermediaries – companies or individual that act as brokers or middlemen between the tourists and the suppliers Tour Operator - Organize package tour together & offer for sale to the public Inclusive Tour – at least two elements are offer for sale at inclusive sale price and involve a stay of more than 24 hours in overnight accommodation Nature of tour packages sold by the tourism industry divided into two types: •Use of traditional charter flight •Use of scheduled flight The
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FINA 3023 Financial Markets & Institutions Class 15 Today s Today’s class The role of financial intermediaries Brokers and dealers Problems in (financial) markets: Asymmetric i f A t i information ti Adverse selection Moral hazard Chapter 8 p 2 The market for “lemons” lemons When‚ in a market‚ sellers of a product know more (asymmetric information) about it than the buyers‚ the market does not function properly. properly “The Market for Lemons: Quality Uncertainty
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study vertical and horizontal‚ Zhong Rui in Shanghai. There are also some views reference by authority report. 3.0 Findings 3.1 Some basic overview of oversea study agent 3.1.1 What is oversea studying agencies Oversea study agent is a intermediary for students to studying abroad to other countries that provide school students application and visa application assistance and services. Everywhere in the world exist this industry. In China the first countries to ratify the legal service
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Journal of Political Economy 81‚ 1973‚ 637–654. Brealey‚ Richard‚ and Stewart Myers‚ Principles of Corporate Finance‚ Third Edition‚ McGraw Hill Publishing Co.‚ 1988. Brown‚ David P.‚ and Robert H. Jennings‚ ‘‘On Technical Analysis‚’’ Review of Financial Studies 2‚ 1989‚ 527–551. Debreu‚ Gerard‚ Theory of Value‚ Cowles Foundation Monograph 17‚ New Haven‚ Yale University Press‚ 1959. Fama‚ Eugene F.‚ ‘‘EYcient Capital Markets: A Review of Theory and Empirical Work‚’’ Journal of Business 43‚ 1970‚
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Financial Markets and Institutions‚ 6e (Mishkin/Eakins) Chapter 1 Why Study Financial Markets and Institutions? 1.1 Multiple Choice 1) Financial markets and institutions A) involve the movement of huge quantities of money. B) affect the profits of businesses. C) affect the types of goods and services produced in an economy. D) do all of the above. E) do only A and B of the above. Answer: D Question Status: Previous
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Individual Financial Statements Paper ACC/290 Principles of Accounting Professor: Bruce Geddus January 8‚ 2014 Introduction to financial accounting and it ’s my turn to identify the four basic financial statements and to describe them as well. In this financial statement paper I will also be describing the four financial statements‚ discuss how the four financial statements are useful to internal users such as managers and employees. And last I will discuss
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QUESTION P3-22: Cross–sectional ratio analysis :- Use the Financial Statement below and on page 106 for Fox Manufacturing Company for the year ended December 31‚ 2012‚ along with the Industry average ratio below‚ to: a) Prepare and interpret a complete ratio analysis of the firm’s 2012 operations b) Summarize your findings and make recommendations. Based on the overall performance of Fox Manufacturing Company‚ it shows that the company should improve it debt financing
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