This timely collection of papers probes into the major issues that are at the heart of our current financial market crises. The coverage of banking topics include the changing nature of intra and inter-bank markets, bank lending behavior, risk and risk-taking, the role of liquidity, return and...

We study the effects of FX liquidity risk on carry trade returns using a novel low-frequency market-wide liquidity measure. We show conclusively that the vast majority of variation in carry trade returns can be explained by two risk factors (liquidity risk and market risk). Our results are...

Key Features:Studies the key role of bank lending as possible triggers of financial crisesExamines whether the risk implied by VAR measures is adequately priced in equity returns of financial institutionsProvides comparative case study on international Joint Ventures and the value creation...