Myron Scholes (2011) - Quantitative Finance and the Intermediation Process

Myron Scholes (2011)

Quantitative Finance and the Intermediation Process

Myron Scholes (2011)

Quantitative Finance and the Intermediation Process

Abstract

Discuss ways in which to earn returns in finance and the role of quantitative finance in each. Intermediation is one way to earn returns, and is the entire backbone of all of economics and business. To intermediate, entities must decide on these major issues: (i) levels of capital, (ii) capital structure, (iii) optimization technologies, (iv) level of risk taking, (v) compensation policies, (vi) feedback systems, (vii) management systems. Many of these need to be augmented and developed in quantitative finance. These map into questions associated with bank capital (under Basil III) and financial regulatory policy.

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