SBA Loans: Myths and Realities

By understanding what the Small Business Adminstration does and doesn’t do, business owners can be in a better position to take advantage of this often misunderstood government program.

Attention Shoppers: Try Valuing This

Acquiring bankrupt assets may seem like a smart move. But valuing distressed intangibles can be a tricky business.

William F. Sharpe’s Website

William F. Sharpe is the STANCO 25 Professor of Finance, Emeritus at Stanford University’s Graduate School of Business and Chairman, Financial Engines, Inc. He was one of the originators of the Capital Asset Pricing Model, developed the Sharpe Ratio for investment performance analysis, the binomial method for the valuation of options, the gradient method for asset allocation optimization, and returns-based style analysis for evaluating the … [ Read more ]

New Payment Methods Give Old-fashioned Checks and Credit Cards a Run for Their Money

Anyone with a Starbucks “stored value” card knows how easy it is these days to pay for his or her café latte. But the stored value card – like its higher-tech cousin the smart card, where value is stored on the card’s computer chip rather than on a server – is just one of the emerging technologies now gaining momentum while paper check usage is … [ Read more ]

From Consolidation to Regulation FD: Financial Services Face a Major Upheaval

In discussing the state of the financial services industry, it’s hard not to reference the events of Sept. 11. Yet even before that day, the industry was undergoing a number of changes that will affect customers, employees, analysts, managers and others. These changes, and the outlook ahead, were the focus of two Wharton conferences in October (2001).

Rice University Seminar Series in Finance

Rice’s Jones School finance seminar links; includes some .pdf files for download

Getting International Banking Rules Right

International bank regulators are currently drafting a new version of the historic 1988 Basel Capital Accord, which set minimum capital requirements for banks around the world. Far from being an esoteric banking issue, the new rules will have far-reaching implications for banks and borrowers alike. As currently written, however, proposals for the new accord threaten to put an undue and unintended capital burden on … [ Read more ]

Thailand Builds a Bond Market

Developing a local-currency bond market tops the agenda of many emerging economies intent on financial reform. The reasons are clear: a deep and liquid bond market provides an alternative to bank credit and thus helps to create a more competitive financial sector and to lower the cost of borrowing. And bonds tend to have longer maturities than bank loans in these economies, thereby reducing the … [ Read more ]

Financial Services Industry Sectors: Implications of the Split

20 years pass and one becomes two: that is, over time, the once-unified financial services industry split into two broad sectors. One is wholesale finance, where clients who have direct access to capital markets may receive financial services. The second is retail and regional finance, where clients do not have direct access but still receive services. Professors Ingo Walter and Roy Smith compare and contrast … [ Read more ]