000			02031nam a22002177a 4500
003			JGU
005			20231208160910.0
008			231208b |||||||| |||| 00| 0 eng d
020			_a9780198776109 _qpbk.
040			_beng _cJGU
041			_aeng
100			_aSpencer, Peter D., _91641076 _eauthor
245			_aThe structure and regulation of financial markets / _cPeter D. Spencer.
260			_aNew York : _bOxford University Press, _c2000.
520			_a"Aimed at advanced undergraduate and graduate students in economics, banking, and finance, this is a core textbook for the financial markets, institutions, and regulation option of courses in financial economics. It integrates modern theories of asymmetric information into the analysis of financial institutions, relating the theory to current developments. The text begins with an analysis of adverse selection in retail financial products like life assurance before looking at open capital markets where trades and prices provide information. It then progresses to the more complex areas of corporate governance and financial intermediation in which information is confidential and moral hazard and verification problems become important. These chapters study the various mechanisms that the financial markets have developed to allow investors to delegate the management of their assets to others. This analysis is used to show how regulation can reduce the risk of financial failure and how legal, accounting, and regulatory mechanisms can help shape a country's corporate and financial architecture. These difficult theoretical concepts are conveyed through the careful use of numerical illustrations and topical case studies. Each chapter ends with a set of exercises to test and reinforce students' comprehension of the material. Worked solutions are provided for the numerical exercises."--
650			_aFinancial institutions--Law and legislation _9796208
650			_aCapital market _919551
999			_c3055095 _d3055095