Literature suggests two contradictory views regarding the impacts of fintech lending on banks. The competition-instability proponents believe that expansion erodes bank market and threatens banks as traditional intermediaries, thereby intensifying risk-taking potentially disturbing financial stability. In contrast, competition-stability reduces asymmetric information in credit market, thus redu...

PT ABC is an LNG producer that has been producing a reliable for its customers since 2013. Initial GSA with upstream parties set to be expired in 2026, however, recent development indicates have secured PSC extension another 20 years. Considering this development, considering opportunity secure long-term gas supply enables production capacity expansion which will create additional revenue and i...

There is an intense debate regarding the best way to attract investment for the long-term expansion of an electricity transmission network. We study three hypotheses: the long-term financialtransmission-right hypothesis; the incentive-regulation hypothesis; and the market-power hypothesis. The first approach derives optimal transmission expansion through auctions of longterm financial transmiss...

We consider a financial market with liquidity cost as in Çetin, Jarrow and Protter [3] where the supply function S(s, ν) depends on a parameter ε ≥ 0 with S(s, ν) = s corresponding to the perfect liquid situation. Using the PDE characterization of Çetin, Soner and Touzi [6] of the super-hedging cost of an option written on such a stock, we provide a Taylor expansion of the super-hedging cost in...

Risk management is crucial for optimal portfolio management. One of the fastest growing areas in empirical finance is the expansion of financial derivatives. The purpose of this special issue on “Risk Management and Financial Derivatives” is to highlight some areas in which novel econometric, financial econometric and empirical finance methods have contributed significantly to the analysis of r...

In this essay I link Giovanni Arrighi’s world-historical framework in The Long Twentieth Century to debates about the “cultural turn” in global capitalism since the 1970s. I do so primarily through interrogation of the writings of one of the major figures in such debates: Fredric Jameson. In his Jameson’s engagement with Arrighi’s, he emphasizes the determinative influence of finance capital on...

Electricity transmission has become the pivotal industry segment for electricity restructuring. Yet, little is known about the shape of transmission cost functions. Reasons for this can be a lack of consensus about the definition of transmission output and the complexitity of the relationship between optimal grid expansion and output expansion. Knowledge of transmission cost functions could hel...