New security designs, improvements in computer telecommunications technology and advances in the theory of finance have led to revolutionary changes in the structure of financial markets and institutions. This paper provides a functional perspective on the dynamics of institutional change and...

Firms in the financial services industry have been faced with the dramatic and relatively recent emergence of new technology innovations, and process disruptions. The industry as a whole, and many new fintech start-ups are looking for new pathways to successful business models, the creation of...

New security designs, improvements in computer telecommunications technology and advances in the theory of finance have led to revolutionary changes in the structure of financial markets and institutions. This paper provides a functional perspective on the dynamics of institutional change and...