Future Trend of Financial Innovation.pptVIP

Future Trend of Financial Innovation 周行一 Edward H. Chow 國立政治大學財務管理學系所教授 Professor of Finance 商學院 院長 Dean of College of Commerce 2008/5 Outline Definition of innovation Functional taxonomy of financial innovation Financial innovation originates from market imperfections A local financial innovation Conclusion Definition of innovation Webster’s Collegiate Dictionary: to introduce as or as if new Most innovations are about improving existing products and process Definition of innovation Miller (1992) argued that true innovations should have lasting impacts：futures contracts and cash settl