We give an introduction to the theory of Mathematical Finance with special emphasis on the applications of Banach space theory. The introductary section presents on an informal and intuitive level some of the basic ideas of Mathematical Finance, in particular the notions of “No Arbitrage” and “equivalent martingale measures”. In section two we formalize these ideas in a mathematically rigorous ...

Financial systems reform and corporate reform are deeply intertwined and thus are best addressed simultaneously and comprehensively. Indonesia is seeking to do this by developing rules, institutions, and mechanisms to achieve good corporate governance, while working to build an effectively functioning financial system that facilitates good corporate governance. This paper explores this quest in...

The aim of this study was to ascertain what can be done by the informal finance sector close credit gap in order improve access SMEs. SMEs are backbone many economies as a result generating employment and improving GDP. Despite playing such major role African economies, have been excluded from financial systems. plays vital providing small businesses. employed literature survey with primary foc...

Using a comprehensive firm-level dataset spanning the period 1998-2005, this paper provides a thorough investigation of the relationship between firm size, total factor productivity growth and financial structure in China, controlling for the endogeneity of the latter. Generally, it finds financing source matters for firms of different size, and the extent to which financing source matters for ...

This study aims to investigate the formal and informal attributes of founding entrepreneurs contributing to venture growth. The study found significant relationship between venture growth and entrepreneurs with high personal initiative, focused on specific competency areas within operations, finance, marketing and human resources. In operations, founding entrepreneurs are found to be concerned ...

Information asymmetry in the anonymous informal finance market drives lenders to screen borrowers by disclosed information. Using data from a powerful online peer-to-peer lending platform, we study effects of formal financing records on successful funding and default outcomes market. We find that are more likely fund with records. Borrowers credit repay loans entirely. Co-funding financial sect...

There is an apparent assumption amongst policymakers despite evidence of heavy and increasing reliance on informal finance, the co-existence formal financial markets, linkages between finance economic outcomes that, rather than needed for development. The objective this study to examine role in Economic Development. We use White Heteroscedasticity Adjusted Two-Stage Least Squares Regression est...

We shall explain the concepts alluded to in the title in economic as well as in mathematical terms. These notions play a fundamental role in the modern theory of mathematical finance. We start by presenting the ideas in a very informal style and then gradually raise the level of mathematical formalisation.