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Institutional Investors in Global Markets$
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Gordon L Clark and Ashby H B Monk

Print publication date: 2017

Print ISBN-13: 9780198793212

Published to Oxford Scholarship Online: June 2017

DOI: 10.1093/oso/9780198793212.001.0001

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Scope of Financial Institutions

Scope of Financial Institutions

Chapter:
(p.82) 5 Scope of Financial Institutions
Source:
Institutional Investors in Global Markets
Author(s):

Gordon L. Clark

Ashby H. B. Monk

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198793212.003.0005

In expanding on the model introduced in Chapter 4, Chapter 5 delves deeper in its explanation about the scope of tasks and functions of financial institutions. In discussing Coase’s theory of the firm in the context of insourcing versus outsourcing, it explains the logic behind insourcing and outsourcing, and the geographical reach of financial institutions. Furthermore, it provides a more detailed account of the distinctive attributes of the financial institution as it pertains to the structure and governance of a firm. An explanation is provided of the representative financial institution as relating to the maximization of the risk-adjusted rate of return, how this is conceived and how its various elements drive the ‘production’ of the financial ‘product’. The imperatives behind offshoring are looked at, treating insourcing and outsourcing as expressions of geographical footprints and identifying a summary of current offshoring strategies in the financial industry along with emerging hybrid strategies and trends.

Keywords:   governance, insourcing, offshoring, outsourcing, structure

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