Search results for "Indirect finance"

Case Studies in Financial Optimization

2010

Challenges for Financial Managers in a Changing Economic Environment

2015

Abstract The fast changes and challenges that took place in the economic environment in the last years broadened the role of financial managers. If their basic responsibilities were linked mainly to financial reporting, financial planning, capital budgeting, capital structure, nowadays a stronger strategic dimension defines the role of financial managers. In addition, an important role is given to the financial manager in communicating professionally not only to the investors but also to the board. The aim of this paper is to give an overview of the challenges that the current economic context is bringing to the finance function and to present how the role of the financial managers is chang…

Access to Finance: Baltic Financial Markets

2014

Abstract Access to finance is considered one of the main obstacles to successful financial market development. Access to finance was second-ranked most pressing problem faced by companies in the Euro Area and one of the main barriers to company's innovation capacity. The study results highlight the need to recognize that countries require sound and well-functioning financial markets. Only in this case financial markets can provide much needed sources of investments such as sound banking loans, properly regulated securities exchanges, venture capital, and other resources.

The impact of the financial crisis on financial integration, growth and investment

2012

Financial crises, and in particular those of the past few years, have severe consequences for the affected economies. In this paper we analyse the impact of financial development and European financial integration on growth and we find no reversal of the growth benefits of financial development and integration in recent years. This highlights the economic cost of regulatory changes that would reverse European financial integration. We also find that, following a financial crisis, investment declines more in countries with a greater degree of uncertainty aversion, which can be informative for evaluating post-crisis economic performance.

The role of the financial system in the growth–inflation link: the OECD experience

2004

Abstract This paper jointly estimates the effects of financial development and inflation on growth using both cross-section and time-series dimensions of the data on inflation, growth, and some banking and stock market indicators over the period 1961–1993 for a sample of OECD countries. Overall, the results indicate, first, that the long-run costs of inflation are not explained by policies of financial repression and, second, that if inflation affects growth through its interaction with financial market conditions, this is not the only (nor the most important) channel.

Customer Channel Preferences in the Finnish Banking Sector

2002

Abstract This research examined a survey of 3,000 and indepth interviews of 30 financial customers who provided information regarding their usage of, and attitudes towards, financial distribution channels. Improvements in technology are facilitating the development of alternative delivery methods and channels, and this paper examines the implications both for customers and for banks. This study looks at customers' behavior and links it with their usage of financial distribution channels to determine if there are particular behavioral segments of customers who exhibit similar patterns of access to financial services. This should enable financial institutions to more efficiently market their …

Turbulence and financial markets

1996

Unemployment and Vacancy Dynamics with Imperfect Financial Markets

2018

This paper proposes a simple general equilibrium model with labour market frictions and an imperfect financial market. The aim of the paper is to analyse the transitional dynamics of unemployment and vacancies when financial constraints are in place. We model the financial sector as a monopolistically competitive banking sector that intermediates financial capital between firms. This structure implies a per period financial resource constraint which has a closed form solution and describes the transition path of unemployment and vacancies to their steady state values. We show that the transition path crucially depends on the degree of wage flexibility. When wages do not depend on the unempl…