1990
DOI: 10.1007/978-3-322-89330-7
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Financial Innovations in International Debt Management

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“…The fact that FI is a continuous phenomenon of a profit maximization economy (Tufano, 2003) allows firms from all industries to raise large amounts of capital at a lower cost (Lerner, 2006). Therefore, the decrease in transaction costs provided may be the key contribution generated by FI (Levich, 1989), since these costs also include the cost of risk management (Berger, 1990). So much is that the overall goal of process innovation in the financial field is precisely the increase in profit by reducing costs, improved efficiency and increased productivity (Fasnacht, 2009).…”
Section: Innovation and Financial Innovationmentioning
confidence: 99%
“…The fact that FI is a continuous phenomenon of a profit maximization economy (Tufano, 2003) allows firms from all industries to raise large amounts of capital at a lower cost (Lerner, 2006). Therefore, the decrease in transaction costs provided may be the key contribution generated by FI (Levich, 1989), since these costs also include the cost of risk management (Berger, 1990). So much is that the overall goal of process innovation in the financial field is precisely the increase in profit by reducing costs, improved efficiency and increased productivity (Fasnacht, 2009).…”
Section: Innovation and Financial Innovationmentioning
confidence: 99%