Struggle and Survival on Wall Street
Oxford University Press Inc (Verlag)
978-0-19-505063-9 (ISBN)
Struggle and Survival on Wall Street provides a comprehensive economic analysis of competition between broker-dealers or securities firms. It uses the industrial organization approach which focuses on the interaction of the industry's structure, conduct, and performance to argue that the driving force of competition is through the development of new financial products. The development of new products forces firms to integrate these new services into their existing organization. Matthews argues that the firms which successfully integrate and adapt to an expanded product line grow in size and importance relative to those which do not. He also suggests that the Securities and Exchange Commission needs to adapt to the growing services offered by securities firms by providing a framework in which organizational change can take place.
John Matthews is an Associate Professor of Economics at Villanova University.
I. Introduction to the Securities Industry
1: Introduction
2: Accelerating Change, 1980-1992
3: An Overview of the Securities Industry
II. The Legislative and Regulatory Framework
4: The Legislative Framework
5: The Safety and Soundness of Broker-Dealers: The Net Capital Rule
6: Principal-Agent Problems in the Securities Industry
III. Elements of Securities Industry Structure
7: Characteristics of Demand
8: Costs and Entry Barriers in the Securities Industry
9: Mergers, Concentration, and Multiproduct Economics of Scale and Scope
IV. Conduct
10: Securities Brokerage Pricing
11: Market Making, Proprietary Trading, and Derivatives
12: Investment Banking
13: Competition Through Innovation
14: Diversification by Securities Firms
V. Performance and Public Policy
15: Merrill Lynch, Morgan Stanley, and Salomon Brothers Adapt
16: Competition in the International Securities Markets
17: Performance of the Securities Industry
18: Policy Implications and Recommendations
References
Author Index
Subject Index
| Erscheint lt. Verlag | 2.6.1994 |
|---|---|
| Zusatzinfo | line figures, tables |
| Verlagsort | New York |
| Sprache | englisch |
| Maße | 160 x 243 mm |
| Gewicht | 571 g |
| Themenwelt | Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung |
| Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft | |
| Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie | |
| ISBN-10 | 0-19-505063-0 / 0195050630 |
| ISBN-13 | 978-0-19-505063-9 / 9780195050639 |
| Zustand | Neuware |
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