This book examines the financing of China's health system, argues that present arrangements are not adequate and proposes an increased role for commercial health insurance as a way of overcoming the difficulties. Highlighting that China's present social medical insurance system can only cover basic medical services, with the results that many Chinese people with higher income are going abroad for high-quality medical services and that doctors are not bringing in the salaries and obtaining the social status they expect, the book suggests that commercial health insurance offers a possible solution, in that it can help meet the demand of higher-income groups for better healthcare services while at the same time increasing the income of more competent medical professionals. The book goes on to consider the current state of China's commercial insurance industry, outlining the various challenges that the industry needs to overcome if it is to fulfil an increased role, challenges such as greater specialization, increased capacity, structural reform, improved regulation and closer integration with China's medical reform programme.

The advice is sound; the client seems eager; and then... nothing happens! Too often, this is the experience that financial professionals encounter in their daily work. When good recommendations go unimplemented, clients' well-being is compromised, opportunities are lost, and the professional relationship grows strained. Advice that Sticks takes aim at the problem of financial non-adherence. Written by a neuropsychologist and financial change expert, this book examines the five main factors that determine whether a client will follow through with financial advice. Individual client psychology plays a role in non-adherence; so, too, do sociocultural and environmental factors, general advice characteristics, and specific challenges pertaining to the emotionally loaded domain of money. Perhaps most surprising, however, is the extent to which advice-givers themselves can foil implementation. A great deal of non-adherence is due to preventable mistakes made by financial professionals and their teams. The author integrates her extensive clinical and consulting experience with research findings from the fields of positive psychology, behavioural economics, neuroscience, and medicine. What emerges is a thoughtful, funny, but above all practical guide for anyone who makes a living providing financial advice. It will become an indispensable handbook for people working with clients across the wealth spectrum.

Financial services technology and its effect on the field of finance and banking has been of major importance within the last few years. The spread of these so-called disruptive technologies, including Blockchain, has radically changed financial markets and transformed the operation of the industry as a whole. This is the first multidisciplinary handbook of FinTech and Blockchain covering finance, economics, and legal aspects globally. With comprehensive coverage of the current landscape of financial technology alongside a forward-looking approach, the chapters are devoted to the spread of structured finance, ICT, distributed ledger technology (DLT), cybersecurity, data protection, artificial intelligence, and cryptocurrencies. Given an unprecedented 2020, the contributions also address the consequences of the current emergency, and the pandemic stroke, which is revolutionizing social and economic paradigms and heavily affecting Fintech, Blockchain, and the banking sector as well, and would be of particular interest to finance academics and researchers alongside banking and financial services professionals.

This book provides an extensive and critical assessment of the current regulatory and supervisory framework of investment services in the European Union (EU) and proposes alternative institutional structures. Recent trends in financial services at EU level as well as regulatory and institutional developments at a national level make the focus of this book very timely. The book contributes to the debate by making specific suggestions with regard to the institutional structure and the operational sphere of a central pan-European regulator.

The book is extremely current and includes a discussion of the Covid-19 pandemic and its impact on equality. Uniquely combines expertise and research from finance, psychology and gender to demonstrate how the financial services industry arrived at its current state. Provides practical solutions for how institutions can implement more gender equal strategies.

The book is extremely current and includes a discussion of the Covid-19 pandemic and its impact on equality. Uniquely combines expertise and research from finance, psychology and gender to demonstrate how the financial services industry arrived at its current state. Provides practical solutions for how institutions can implement more gender equal strategies.

In recent years, the digitalisation of retail financial services - retail payments, current/savings accounts, consumer/housing credit, car insurance, property insurance and health insurance - has accelerated significantly. While policy-makers are gradually creating the necessary conditions to strengthen this digital transformation, there remain numerous policy issues and unanswered questions to resolve. Against this background, CEPS-ECRI formed a Task Force to explore four specific core questions: *What type of level playing field is needed to ensure a successful transitions to the digital transformation? *What are the opportunities and risks related to big (alternative) data and increasingly sophisticated algorithms? *What kind of regulatory framework is the most appropriate for pre-contractual information duties in a digital era? *How can the regulatory framework for digital authentication be improved? This report presents the findings of the Task Force, based on discussions among the members, led by the Chairman Kim Vindberg-Larsen, a FinTech entrepreneur. These findings are substantiated and elaborated via in-depth research carried out by Sylvain Bouyon, CEPS-ECRI Research Fellow.

This book sheds light on current issues in sustainable finance through an in-depth analysis and discussion of relevant sustainable products and sustainable initiatives of several financial institutions. This edited collection critically presents and discusses several relevant theoretical issues, case studies of innovative financial products and sustainable institutions, as well as empirically investigates issues related to both financial and social performance. The book focuses on several innovative products across the sustainable finance ecosystem, including social impact bonds, crowdfunding and green bonds. Similarly, the book spotlights the sustainable investment strategies of institutions ranging from family foundations to asset managers.

Financialisation and the Financial and Economic Crises provides comparative, empirical case studies of a diverse set of eleven countries. In particular, the book helps in understanding the current (mal)performance of Euro area economies by explaining the causes of the shifts in growth regimes during and after the crises. It goes well beyond the dominant interpretation of the recent financial and economic crises as being rooted in malfunctioning and poorly regulated financial markets. The contributions to this book provide detailed accounts of the long-term effects of financialisation and cover the main developments leading up to and during the crisis in eleven selected countries: the US, the UK, Spain, Greece, Portugal, Germany, Sweden, Italy, France, Estonia, and Turkey. The introductory chapter presents the theoretical framework and synthesizes the main findings of the country studies. Furthermore, the macroeconomic effects of financialisation on the EU as a whole are analyzed in the final chapter. Offering an illuminating overview and invaluable alternative perspective on the long-run developments leading to the recent crises, this book is essential reading for researchers, students and policymakers and an ideal starting point for further research. Contributors: S. Bahce, R. Barradas, C.A. Carrasco, H. Coemert, G. Cornilleau, J. Creel, D. Detzer, N. Dodig, N. Erdem, T. Evans, J. Ferreiro, G. Gabbi, C. Galvez, C. Gomez, A. Gonzalez, E. Hein, E. Juuse, E. Karacimen, A.H. Koese, S. Lagoa, E. Leao, J. Lepper, OE. Orhangazi, G. OEzgur, R. Paes Mamede, M. Shabani, A. Stenfors, E. Ticci, J. Toporowski, L. Tserkezis, J. Tyson, Y. Varoufakis, P. Vozzella, G.L. Yalman

Written in an accessible style from a consumer perspective and blends academic research with professional insights. Deals with all essential aspects of financial services that affect consumers and how they can exploit opportunities. Each of the chapters contain a list of learning objectives; a range of scenarios, case studies, examples and articles to provide a "real world" context to the discussion; a key points summary with referencing and further reading and useful on-line resources, as well as, a selection of short self-review questions. Enables readers to understand how the operations, complexity and dynamism of an ever-changing financial services industry shape the financial opportunities and risks they face.

Written in an accessible style from a consumer perspective and blends academic research with professional insights. Deals with all essential aspects of financial services that affect consumers and how they can exploit opportunities. Each of the chapters contain a list of learning objectives; a range of scenarios, case studies, examples and articles to provide a "real world" context to the discussion; a key points summary with referencing and further reading and useful on-line resources, as well as, a selection of short self-review questions. Enables readers to understand how the operations, complexity and dynamism of an ever-changing financial services industry shape the financial opportunities and risks they face.

Pricing or benchmarking is a process of evaluating the performance of a financial company's products and services or systems, against other businesses, considered to be at the top of their field, by applying a measurement of "best in performance." This book includes contributions from the leading global experts in the field who tackle topics such as whether the Islamic financial system has been dependent on the LIBOR / EURIBOR in its benchmarking exercises to date, and thus, whether it will be affected negatively by the predicted non-existence of the LIBOR / EURIBOR from 2021 onwards. They also address the question of whether the Islamic financial system requires benchmarking of its products and services and consider the emergence of Shari ah-justified benchmarking in today's Islamic financial system. Additionally, they look at how benchmarking formulas should be adapted to ensure the satisfaction of customers within the principles of Maqasid al-Shari ah. It takes a legal and institutional approach to the subject, which readers will find particularly valuable, as there are various forms of Islamic finance institutions that do not conform to established models in the finance industry. Furthermore, there are emerging business models that will benefit from this line of investigation. This book offers a timely analysis of these issues and redresses the existing misconceptions and misinterpretations pertaining to benchmarking, in an Islamic finance context, and, as such, provides guidance and strategies for future directions. It will appeal to researchers of Islamic banking, finance, and insurance, as well as, practitioners, particularly standard setting bodies, regulators, and policy makers.

Intangible assets are becoming increasingly important as value drivers for multinational companies. It is a strategic question how to allocate intangibles within the multinational corporation. It needs to be defined by whom and under which conditions they can be utilized. Typical IP migration models such as licensing, joint development and transferring are becoming a focal point within tax audits across the globe. Hence,defining an intangibles system that fulfils the tax requirements is of utmost strategic importance for multinational corporations. A central question is how to value intangibles in line with the arm's length principle as is required internationally for transfer pricing purposes. Edited by leading transfer pricing and valuation experts in Europe, this comprehensive book offers practitioners an effective road map for identifying, valuing and implementing intangibles for transfer pricing purposes under consideration of both the OECD and local perspectives. It is therefore a must-have book for transfer pricing and valuation practitioners on all levels of experience. The book starts with an introduction to the role of intangibles in the world of transfer pricing including typical intangibles migration models. It describes common intangible assets across all types of industries, including e.g. automotive, consumer goods and software.Using several numerical examples, the book then covers state-of-the-art valuation methods including how to apply these methods in practice in a way consistent with the OECD Transfer Pricing Guidelines. The different country chapters written by local experts provide country-specific guidance on the legal framework concerning intangible assets from a transfer pricing and valuation perspective. Finally, the book covers practical advice on the implementation of an intangible assets system. This book offers invaluable guidance to practitioners seeking tools to apply the arm's length principle in the world of intangibles.

Why is finance so important? How do stock markets work and what do they really do? Most importantly, what might finance be and what could we expect from it? Exploring contemporary finance via the development of stock exchanges, markets and the links with states, Roscoe mingles historical and technical detail with humorous anecdotes and lively portraits of market participants. Deftly combining research and autobiographical vignettes, he offers a cautionary tale about the drive of financial markets towards expropriation, capture and exclusion. Positioning financial markets as central devices in the organisation of the global economy, he includes contemporary concerns over inequality, climate emergency and (de)colonialism and concludes by wondering, in the market's own angst-filled voice, what the future for finance might be, and how we might get there.

This book offers an overview of the best-working strategies in the field of equity and fixed income mutual fund-based portfolio management. This timely research considers different market conditions, such as global financial crises, across various geographical regions such as the USA and Europe. Combining academic and practical findings, the author presents a practitioner perspective on mutual fund-based portfolio strategies, appealing not only to finance scholars but also professionals within the asset management industry. This book synthesizes a large part of the academic research to date on the mutual fund industry by drawing from the most widely cited academic journals. The author makes a systematic use of numerical examples to facilitate the understanding of Investment themes organized around several important topics: size, diversification, flows, active management, volatility, performance persistence and rating.

Despite growing discussions on the relationship between sustainability and finance, so far little attention has been given to the relation linking sustainability-related risks and financial risks. Climate change, environmental degradation and social inequality, among others factors, may indeed have considerable adverse impacts on financial actors and markets, and even have the potential to harm financial stability. Shedding light on the importance of the nexus between sustainability and financial risks, this book addresses the need for new industry and policy approaches. With insights from a skilled set of scholars in the finance field, this edited collection explores the effects of climate risks on the banking and insurance industries, the problem of stranded assets, the possible corporate risk management frameworks that could be used to control sustainability-related risks, the role of non-financial disclosure in fostering market discipline, and the policy actions needed to integrate sustainability considerations into prudential supervision. Tackling an interdisciplinary topic, this book will appeal to academics and practitioners within the finance, business and sustainability fields.

Biases, blind spots and bonuses (or incentives more broadly) have led to numerous risk management disasters. Risk governance is a potential solution to these problems yet is not always as effective as we would like it to be. One reason for that is the current dearth of risk governance expertise. This book seeks to address this issue, providing: Understanding of the fundamental forces that cause disasters: the biases, blind spots and bonuses. This understanding is drawn from the disciplines of economics/finance and psychology; Explanation of the structures of risk governance and common challenges experienced in their use e.g. board risk committee, risk/compliance function, assurance function, risk appetite statement, risk disclosures; Thorough investigation of risk culture and its importance in risk governance, including the assessment of risk culture; Understanding of the mechanisms of executive compensation and how they link to risk management - one of the most difficult challenges confronting both risk and remuneration committees; Explanation of the risk management process (based on international standards ISO31000), including practical guidance on risk communication, analysis and treatment; Guidance on the management of strategic risk, emphasising the importance of scenario analysis; Application of these principles to cyber risk, climate risk - two pervasive risks affecting almost every organisation; Numerous case studies and examples drawn from various industries around the world; and Discussion of what has been learned about risk governance from the COVID-19 experience. The book is an essential guide for postgraduate students; participants in professional education programs in governance and risk management; directors; senior executives; risk, compliance and assurance professionals as well as conduct and prudential regulators worldwide.

The social media marketing bible for the financial industry The Socially Savvy Advisor: Compliant Social Media for the Financial Industry is the complete guide to creating an effective social media strategy without breaking the big rules. Written by an industry specialist Jennifer Openshaw, alongside Stuart Fross, Fidelity International's former general counsel, and Amy McIlwain, president of Financial Social Media, this book merges marketing basics with FINRA and SEC guidelines to help readers create an effective social media campaign specifically for the finance and investing world. Contributions from industry leaders at Charles Schwab, Citibank, and others provide inside perspective and experience so readers can tap into a new audience. With a focus on compliance, the book clears common hurdles while dispelling myths and outlining effective methods and techniques. Readers also gain access to a website featuring videos, Q & As, tutorials, Slideshare, and a social media policy template. Social media is one of the hottest topics in finance. From solo practitioners to large asset managers, everyone's consumed by how, when, and where to use this new and powerful medium but guidance is hard to find. The Socially Savvy Advisor covers the entire issue, from platform, to content, to what not to do. * Best practices in using social media for advisors and compliance officers * Planning for the regulators, vs. failing to plan * Challenges with LinkedIn, Facebook, Twitter and other social platforms * Elements of a good social media policy * Managing the top issues related to marketing and business development, engagement, and compliance With the right plan and the proper technique, social media marketing can dramatically improve client outreach and retention. The Socially Savvy Advisor provides the expert insight, tools, and guidance that shape a robust, effective strategy.

Estate planning has more procrastination, indecision, and inertia associated with it than any other area of planning. Affluent baby boomers, in particular, as the beneficiaries of the largest intergenerational transfer of wealth in history, have a daunting set of financial concerns with which to contend. Here at last is a step-by-step approach to estate planning that equips planners and financial advisors to help clients tackle this important process once and for all.

Most clients understandably find planning concepts and strategies confusing, but most also have a fairly sound understanding of who and what is most important to them. These are the priorities from which to build the foundation of a successful estate plan. The seven principles explored in this book use personal values as a basis to form The Legacy Planning System^TM. With this approach, advisors can:

• Help clients discover and solidify their deepest values, convictions, and objectives relative to their money
• Help clients express those values and objectives in a clearly written Family Financial Philosophy mission statement
• Serve as the team leader in advising clients and clients’ other advisors on how to use the mission statement to direct the planning process

Clarifying your clients’ priorities and personal goals will enable you, as a trusted advisor, to simplify the planning process for clients, ensure their lifetime financial independence, and help them control their ultimate family and social capital legacies. Confronting issues of family dynamics, taxes, and financial situations—not to mention accepting one’s own mortality—is difficult for many people. In addition, since estate planning often requires a shift in ownership of assets, clients feel an unsettling loss of privacy and control over their financial resources. Help your clients to overcome these obstacles and achieve their highest financial and philanthropic aspirations. They’ll thank you for generations to come.

Praise for Values-Based Estate Planning

"Scott Fithian’s book provides planning professionals with new insights into the estate planning process. Most importantly, he stresses the individual and family benefits of philanthropy—through the concept of social capital—which should be a key element to the planner’s inventory of client questions."—Charles W. Collier, Senior Philanthropic Advisor, Harvard University

"This exceptional book empowers planners with a well- organized roadmap to lead wealthy clients to implementation of an estate plan expressing the clients’ own values. Scott Fithian’s Legacy Planning System focuses the advisor on the critical importance to the estate planning process of helping clients identify and articulate their values and objectives. This useful volume makes those ideas available to a much broader audience, while broadening the subject with illustrations of effective employment of the methodology he has developed."—David Wheeler Newman, JD, LLM, Mitchell, Silberberg & Knupp LLP

"Fithian’s view of the complete person helps the advanced advisor avoid the typical limitations (hazards) of planning for wealthy families. The easy-to-understand and easy-to-follow methods help determine in-depth values of the client’s total financial goals. His methods result in cementing valuable relationships with the most prized clients. Critical reading for CPAs, attorneys, insurance agents, or other advisors." & mdash;Jessica M. Bibliowicz, President and CEO, National Financial Partners

"Scott’s wealth optimization system is truly revolutionary. For the first time, affluent clients and their advisors can rely on a fully integrated system that spans all phases of wealth accumulation, management, and transfer over time. An outstanding reference!"—Robert Keys, The Private Client Group

This book explores consumer protection in the major financial markets in the world and provides an international comparison among the countries of different cultural background and economic development. Each chapter describes the major issues of financial consumption in the selected country and the efforts to counter the problems of financial consumption. The innovation and renovation in the financial institutions and the public policies for consumer protection are also analyzed for their potential impacts on the future development of financial markets.

Cryptocurrencies have had a profound effect on financial markets worldwide. This edited book aims to explore the economic implications of the use of cryptocurrencies. Drawing from chapter contributors from around the world, the book will be a valuable resource on the economics of cryptocurrencies. The intended audience is composed of academics, corporate leaders, entrepreneurs, government leaders, consultants and policy makers worldwide. Over the past few years, the topic of cryptocurrencies has gained global attention and has been the subject of discussion in various news media, in policy-making bodies and government entities, and in financial institutions, classrooms and boardrooms. Despite widespread interest, much remains unknown on what the economic implications of cryptocurrencies are. This book enhances the reader's understanding of cryptocurrencies, its impact on industry and its implications on the political and economic environment. Drawing from chapter contributions from leading academics and thought leaders from around the world, this book is the definitive guide on the economics of cryptocurrencies. There is scarcity of well conceived, academically grounded literature on the impact of cryptocurrencies on industry, politics and economics. This pioneering book provides up-to-date and in-depth analysis on the subject. The book will be appealing to academic communities, business professionals and entrepreneurs in their quest for better understanding the challenges and opportunities brought about by cryptocurrencies. Consultants, government officials and policy makers will find the information helpful in defining strategic pathways into the future.

The Financial Crisis was a cross-sector crisis that fundamentally affected modern society. Regulation, as a concept, was both blamed for allowing the crisis to happen, but also tasked with developing and implementing solutions in the wake of the crash. In this book, a number of specialists from a range of fields have contributed their insights into the effect of the Financial Crisis upon the regulatory frameworks affecting their fields, how regulators have responded to the Crisis, and then what this may mean for the future of regulation within those industries. These analyses are joined by a picture of past financial crises - which reveals interesting patterns - and then analyses of architectural regulatory models that were fundamentally affected by the Crisis. The book aims to allow sector specialists the freedom to share their insights so that, potentially, a broader picture can be identified. Providing an interesting and thought-provoking account of this societally impactful era, this book will help the reader develop a more informed understanding of the potential future of financial regulation. The book will be of value to researchers, students, advanced level students, regulators, and policymakers.

This book explores the role of the insurance industry in contributing to, and responding to, the harms that climate change has brought and will bring either directly or indirectly. The Anthropocene signifies a new role for humankind: we are the only species that has become a driving force in the planetary system. What might criminology be in the Anthropocene? What does the Anthropocene suggest for future theory and practice of criminology? Criminology and Climate, as part of Routledge's Criminology at the Edge Series, seeks to contribute to this research agenda by exploring differing vantage points relevant to thinking within criminology. Contemporary societies are presented with myriad intersecting and interacting climate-related harms at multiple scales. Criminology and Climate brings attention to the finance sector, with a particular focus on the insurance industry as one of its most significant components, in both generating and responding to new climate 'harmscapes'. Bringing together thought leaders from a variety of disciplines, this book considers what finance and insurance have done and might still do, as 'fulcrum institutions', to contribute to the realisation of safe and just planetary spaces. An accessible and compelling read, this book will appeal to students and scholars of criminology, sociology, law and environmental studies and provides readers with a basis to analyse the challenges and opportunities for the finance sector, and in particular the insurance industry, in the regulation of climate harms.

The bond market is a key securities market and emerging economies present exciting, new investment opportunities. This timely book provides insights into these emerging bond markets through empirical models and analytical databases, i.e. Bloomberg, Eikon Refinitiv and the Russian Cbonds. The book looks at the dynamics of the development of emerging bond markets, their competitiveness, features and patterns using macro and micro level data. It also takes into consideration various securities type i.e. government, corporate, sub-federal and municipal bonds, to identify respective challenges and risks. The book also analyses factors that may inhibit or stimulate a well-balanced financial market. It includes case studies of Asian, Latin American and Russian bond markets, as also as cross-country comparisons. It will be a useful reference for anyone who is interested to learn more of the bond market and the modelling techniques for critical data analysis.