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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

The financial industry offers a unique setting to study innovations. Financial innovations have fueled the growth of economies, markets and societies. The financial industry has successfully become the breeding ground for innovative services, processes, business models and technologies. This study seeks to provide a holistic view of the literature on financial innovations, synthesize the research findings and offer future directions for research in light of three market developments that are disrupting the industry and opening up a new era for the financial services industry. Disruptions from within and outside the industry offer new generations of radically innovative services. Moreover, new generations of consumers differ from previous generations in their needs and wants and look for innovative ways to handle their financial needs. Finally, significant developments related to financial innovations have emerged in Asia and developing countries.

This study systematically reviews the academic research literature on financial innovations in two phases. The first phase provides a quantitative review of 546 journal articles published between 1990 and 2018. In the second phase, the study synthesizes the extant research on financial innovations and maps them in five research areas: firms' introduction and adoption of FIs, financial innovation development, the outcomes of financial innovations, regulations and intellectual property, and consumers.

The analysis found that disciplines differ with regard to the employed research methodologies, the units of analysis, sources of data and the innovations they examined. A positive trend in the number of published articles during this period is observed. However, studies have primarily focused on the USA and Europe and less so on other parts of the world. The literature synthesis further identifies research gaps in the available research that highlight future research opportunities in light of the three market disruptions. The financial services industry is on the brink of a new era due to disruptions from within and outside the industry and the entrance of new generations of consumers. Moreover, the financial industry has successfully become the breeding ground for innovative services, processes and business models. Therefore, financial innovations offer promising opportunities for bridging the gap between research on product and service innovations.

The work provides a holistic and systematic overview of extant research on financial innovations and highlights future research opportunities in light of the three disruptive market developments. It helps researchers take advantage of the opportunities in studying financial innovations while maintaining industry relevance.

The study is the first to review and synthesize the academic research literature on financial innovations across marketing, finance and innovation disciplines. In addition, the study highlights three primary disruptive forces in the financial industry and identifies future research directions in light of these disruptive forces.

Internet + and Electronic Business in China is a comprehensive resource that provides insight and analysis into E-commerce in China and how it has revolutionized and continues to revolutionize business and society. Split into four distinct sections, the book first lays out the theoretical foundations and fundamental concepts of E-Business before moving on to look at internet+ innovation models and their applications in different industries such as agriculture, finance and commerce. The book then provides a comprehensive analysis of E-business platforms and their applications in China before finishing with four comprehensive case studies of major E-business projects, providing readers with successful examples of implementing E-Business entrepreneurship projects.

Internet + and Electronic Business in China is a comprehensive resource that provides insights and analysis into how E-commerce has revolutionized and continues to revolutionize business and society in China.

The results of a survey of new product development practices and procedures in American financial institutions are described. It is revealed that most institutions do not have a formal, fully developed process for developing and managing new products. For those that do, new products committees and project teams are the major strategies used.

To explain the impacts of the class action, as recently amended by the Italian Parliament, and help financial institutions to develop a compliance approach in order to avoid and/or mitigate the relevant risks.

This article provides an overview on the Italian class action, as recently amended by the Italian Law No. 31/2019, examines the relevant impact for financial institutions (taking into account some recent case law) and identifies possible compliance solutions to avoid/mitigate the relevant risks.

The recent amendments to the Italian class action may increase risks for financial institutions.

Financial institutions should examine their relationships with stakeholders in the light of the new Italian class action in order to implement policies and procedures to prevent the relevant risks.

Practical guidance from an experienced lawyer in the litigation and compliance fields.

This research examined the survey responses of 801 financial customers who provided information regarding their usage of, and attitudes towards, financial distribution channels. The study found that there were distinctive segments within the financial market that had significantly different levels of usage of financial distribution channels. Financial customers were asked to indicate their orientation towards convenience, service, technology, computers, change, knowledge about methods of accessing money, and confidence in using electronic banking. Financial customers’ usage of human tellers, automated teller machines, electronic funds transfer at the point of sale, credit cards, cheques, Internet banking and telephone banking was investigated, and this information was used to determine if relationships exist between customer orientations and the usage of financial distribution channels. Further results and implications of the study for financial services are addressed.

The aim of this paper is to discuss the similarities and differences of both conventional and Islamic financial institutions from various institutional perspectives.

This conceptual paper describes the insights held by the financial institution theory which is discussed from the perspectives of the economics of the financial institution, legal environment, the political aspect of an institution, the philosophical underpinning, the components of institution and also the ethical role of institution. Then, this paper will proceed to justify the similarities and differences that have been observed between both institutions.

Discussions in this paper will reveal that specifically specific similarity is prevalent on the nature of the supervisory role. The differences between both institutions from the aspects of business organization, economic roles and law of origin have also been found.

The similarities and differences that are established on both institutions will affect the structure of the financial contract and the design of financial systems.

The paper will contribute a new knowledge specifically on the design of the Islamic financial contract based on Shariah law at the initial phase.

Directors help determine the strategic direction of a corporation and are responsible for ensuring the institution has a good system of internal control. Banking institutions without a strategic direction emphasizing sound lending practices that promote the long-run financial health and viability of the institution will be sued more frequently than peer institutions. Institutions that do not have a good system of internal control will also be sued more frequently. Hence, legal expense is a bank corporate governance measure. We compare the performance of bank legal expense and a widely cited corporate governance index in a regression framework to determine which better predicts bank performance. The regressions indicate legal expense is a much better predictor, hence a better measure of bank corporate governance. Regulators should require legal expense reporting and rank institutions by the ratio of legal expense to assets to help identify institutions with weak governance. Seven case studies illustrate the role of legal expense in corporate governance.

In July 1997, the Federal Reserve Bank of New York (FRBNY) issued a paper on ‘Guidance on Sound Risk Management Practices Governing Private Banking Activities’ (the ‘Guidelines’). The paper is the culmination of the work of FRBNY bank examiners who recently concluded a year long study of 40 financial institutions in New York City with private banking departments. Private banking refers to the provision of financial services to high net worth individuals. FRBNY examiners evaluated the private banking policies and procedures of commercial banks, Edge Act corporations, trust companies and the US branches of foreign banks in an attempt to gauge the level of risk management at these institutions. The examiners found ‘varying degrees of sophistication and depth in private banking activities’.

Over the past year, a series of international financial scandals have highlighted significant gaps in the global system which seeks to regulate and enforce global norms to protect the integrity of financial markets and services. Some of these scandals, such as the press allegations about billions of dollars being laundered from Russia through the Bank of New York, are still unfolding, and it may be some time before we can draw conclusions about what actually took place. Regardless, the information already public is accelerating already rapidly moving efforts by the USA, the G7 and other key stakeholders in the global system to close those gaps. These efforts do not relate solely to the main regulated financial services industries and to jurisdictions perceived to be underregulated or uncooperative. They also take on the possibility of applying new standards relating to the responsibilities of lawyers, accountants, auditors, company formation agents and notaries to the governments that license them and to their fellow citizens, in addition to those responsibilities they have to the private‐sector clients who have engaged them. The development of these and the other new standards is still in progress and will require intensive consultations in the months to come between governmental institutions and those in the private sector most affected by such standards. But inside the government, the debate is not whether we will build broader protections against financial crime, but how far to go, and whom we will hold responsible for undertaking the work.