Handbook of Financial Intermediation and Banking

Handbook of Financial Intermediation and Banking, 1st Edition

Handbook of Financial Intermediation and Banking, 1st Edition,Anjan V. Thakor,Arnoud Boot,ISBN9780444515582

Thakor   &   Boot   

Elsevier Science




235 X 191

Twenty outstanding chapters present research reviews and syntheses of important subjects in financial intermediation

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Key Features

* Original review articles offer valuable perspectives on research issues appearing in top journals
* Twenty articles are grouped by six major topics, together defining the leading research edge of financial intermediation
* Corporate finance researchers will find affinities in the tools, methods, and conclusions featured in these articles


The growth of financial intermediation research has yielded a host of questions that have pushed "design" issues to the fore even as the boundary between financial intermediation and corporate finance has blurred. This volume presents review articles on six major topics that are connected by information-theoretic tools and characterized by valuable perspectives and important questions for future research. Touching upon a wide range of issues pertaining to the designs of securities, institutions, trading mechanisms and markets, industry structure, and regulation, this volume will encourage bold new efforts to shape financial intermediaries in the future.


Upper-division undergraduates, graduate students, professors, and professionals studying financial intermediation, in particular banking, financial systems, regulation, mutual funds, and interbank competition

Anjan V. Thakor

As the John E. Simon Professor of Finance and Senior Associate Dean of Programs at the Olin School of Business, Washington University, St. Louis, Anjan Thakor works in both academia and the business world. Prior to joining the Olin School, he was Edward J. Frey Professor of Banking and Finance at the Ross School of Business, University of Michigan, where he also served as chairman of the Finance area. He has worked with many companies, including Whirlpool Corporation, Allision Engine Co., Citigroup, RR Donnelley, Dana Corporation, Anheuser-Busch, Zenith Corporation, Lincoln National Corporation, and J.P. Morgan.

Affiliations and Expertise

John E. Simon Professor of Finance and Director of the PhD Program, Olin School of Business, Washington University, St. Louis, MO, USA

View additional works by Anjan V. Thakor

Arnoud Boot

Arnoud Boot is Professor of Corporate Finance and Financial Markets at the University of Amsterdam and Director of the Amsterdam Center for Law and Economics. He is Research Fellow at the Center for Economic Policy Research and at the Davidson Insitute at the University of Michigan.

Affiliations and Expertise

University of Amsterdam

Handbook of Financial Intermediation and Banking, 1st Edition

Arnoud W.A. Boot and Anjan V. Thakor

Section 1: Design of Securities and Contracts
Overview by Franklin Allen
Paolo Fulghieri and Eitan Goldman
“The Design of Debt Contracts”
Anthony Sanders, Yongheng Deng and Xudong An
“Subordination Levels in Structured Financing”

Section 2: Market Structure and Structure of Financial Markets
Christine Parlour and Duane Seppi
“Limit Order Markets: A Survey”

Section 3: Structure of Financial Institutions
Overview by Mitch Berlin
Philip E. Strahan
“Bank Structure and Lending: What We Do and Do Not Know”
Loretta J. Mester
“Optimal Industrial Structure in Banking”
Amar Gande
“Commercial Banks in Investment Banking: A Survey”

Section 4: Mutual Funds
Overview by Sudipto Bhattacharya
Bruce Lehmann and Allan Timmermann
“Performance Measurement and Evaluation”
Lu Zheng
“The Behavior of Mutual Fund Investors”
Sudipto Bhattacharya, Amil Dasgupta and Andrea Prat
“Incentives in Funds Management: Foundations and Consequences”

Section 5: Regulation
Overview by Mark Flannery
Kenneth D. Jones and Tim Critchfield
“Consolidation in the U.S. Banking Industry: Is the ‘Long, Strange Trip’ About to End?” page
Robert DeYoung
“Safety, Soundness, and The Evolution of the U.S. Banking Industry”
Mark Flannery and Kasturi P. Rangan
“What Caused the Bank Capital Build-up of the 1990s?”
Paul H. Kupiec
“Basel II: A Case for Recalibration”

Section 6: Competition and Regulation
Overview by Xavier Vives
“Competition and Regulation in Banking”
Elena Carletti
“Competition and Regulation in Banking”
Hans Degryse and Steven Ongena
“Competition and Regulation in the Banking Sector: A Review of the Empirical
Evidence on the Sources of Bank Rents”

Quotes and reviews

"Boot and Thakor have done a wonderful job in putting together a collection of recent papers on financial intermediation. I particularly like their emphasis on current topics such as structured finance, bank consolidation, and Basel II regulation. A must read for anyone who wants to be informed about the current thinking in this evolving field."
Luc Laeven, International Monetary Fund

"Literally a tour de force with broad and deep coverage of the banking literature from a Finance perspective. A must-read for serious scholars and professionals that offers a clear and direct path to the cutting edge of current research in the field."
Peter Rousseau, Vanderbilt University

"Arnoud Boot and Anjan Thakor have gathered leading researchers working at the intersection of corporate finance and financial intermediation to review and synthesize the latest work in their fields. In addition to providing a concise overview of the state of the art in these important areas, the authors provide a critical assessment of the most promising avenues for future research. This text will likely prove to be an invaluable resource both for current researchers as well as new students of these disciplines."
Peter M. DeMarzo, Stanford University

“This book is an excellent collection of survey papers in the field of financial intermediation, written by leading researchers in the field. Given its broad coverage of topics and accessible style, it is highly recommended reading for students, teachers and professionals who want to refresh their knowledge of the literature, bring themselves to the frontier of the field, and explore open research questions.”
Thorsten Beck, The World Bank

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