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Title: :  Financial Innovations and their role in the modern financial system – Identification and Systematization of the problem
PaperId: :  C-1136
Published in:   International Journal Of Advance Research And Innovative Ideas In Education
Publisher:   IJARIIE
e-ISSN:   2395-4396
Volume/Issue:    Volume 1 Issue 1 2016
DUI:    16.0415/IJARIIE-C-1136
Licence: :   IJARIIE is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Auther NameAuther Institute
V. AardhraAssistant Professor, Department of Commerce, Sri Krishna Arts and Science College, Coimbatore
Shuruthi Menon SurianDepartment of Commerce, Sri Krishna Arts and Science College, Coimbatore
Shruti ShreevalsanDepartment of Commerce, Sri Krishna Arts and Science College, Coimbatore

Abstract

Financial Management
-
This paper discusses the role that financial innovations play in the modern financial system, aiming at identifying and systematizing the core problems and definitions related to this issue. The paper first describes the importance of the financial system and financial markets in the economy, explaining their functions and presenting their particular characteristics, focusing on their innovativeness. Then, based on the theoretical studies, the broad definition of the financial innovations is developed, stating that any new developments in any elements of the financial system, including: markets, institutions, instruments and regulations, can be regarded as financial innovations if they are perceived as new by the end-user of innovation. Next, the systematization of the most important types of financial innovations is presented regarding different classification criteria, such as: sources of innovations, motives for innovations, their effects or functions. As financial innovations are not a homogenous group of financial developments, their implications for the financial system can be ambiguous, thus the final assessment of their role cannot be generalized and should be made on a case-by-case basis. The information presented in this paper can be regarded as an introduction, encouraging to do further research, as the complexity of the financial innovations makes them an interesting and important subject for this.

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IJARIIE V. Aardhra, Shuruthi Menon Surian, and Shruti Shreevalsan. "Financial Innovations and their role in the modern financial system – Identification and Systematization of the problem" International Journal Of Advance Research And Innovative Ideas In Education Volume 1 Issue 1 2016 Page 137-142
MLA V. Aardhra, Shuruthi Menon Surian, and Shruti Shreevalsan. "Financial Innovations and their role in the modern financial system – Identification and Systematization of the problem." International Journal Of Advance Research And Innovative Ideas In Education 1.1(2016) : 137-142.
APA V. Aardhra, Shuruthi Menon Surian, & Shruti Shreevalsan. (2016). Financial Innovations and their role in the modern financial system – Identification and Systematization of the problem. International Journal Of Advance Research And Innovative Ideas In Education, 1(1), 137-142.
Chicago V. Aardhra, Shuruthi Menon Surian, and Shruti Shreevalsan. "Financial Innovations and their role in the modern financial system – Identification and Systematization of the problem." International Journal Of Advance Research And Innovative Ideas In Education 1, no. 1 (2016) : 137-142.
Oxford V. Aardhra, Shuruthi Menon Surian, and Shruti Shreevalsan. 'Financial Innovations and their role in the modern financial system – Identification and Systematization of the problem', International Journal Of Advance Research And Innovative Ideas In Education, vol. 1, no. 1, 2016, p. 137-142. Available from IJARIIE, https://ijariie.com/AdminUploadPdf/Financial_Innovations_and_their_role_in_the_modern_financial_system_–_Identification_and_Systematization_of_the_problem_C_1136.pdf (Accessed : ).
Harvard V. Aardhra, Shuruthi Menon Surian, and Shruti Shreevalsan. (2016) 'Financial Innovations and their role in the modern financial system – Identification and Systematization of the problem', International Journal Of Advance Research And Innovative Ideas In Education, 1(1), pp. 137-142IJARIIE [Online]. Available at: https://ijariie.com/AdminUploadPdf/Financial_Innovations_and_their_role_in_the_modern_financial_system_–_Identification_and_Systematization_of_the_problem_C_1136.pdf (Accessed : )
IEEE V. Aardhra, Shuruthi Menon Surian, and Shruti Shreevalsan, "Financial Innovations and their role in the modern financial system – Identification and Systematization of the problem," International Journal Of Advance Research And Innovative Ideas In Education, vol. 1, no. 1, pp. 137-142, 1 2016. [Online]. Available: https://ijariie.com/AdminUploadPdf/Financial_Innovations_and_their_role_in_the_modern_financial_system_–_Identification_and_Systematization_of_the_problem_C_1136.pdf [Accessed : ].
Turabian V. Aardhra, Shuruthi Menon Surian, and Shruti Shreevalsan. "Financial Innovations and their role in the modern financial system – Identification and Systematization of the problem." International Journal Of Advance Research And Innovative Ideas In Education [Online]. volume 1 number 1 ().
Vancouver V. Aardhra, Shuruthi Menon Surian, and Shruti Shreevalsan. Financial Innovations and their role in the modern financial system – Identification and Systematization of the problem. International Journal Of Advance Research And Innovative Ideas In Education [Internet]. 2016 [Cited : ]; 1(1) : 137-142. Available from: https://ijariie.com/AdminUploadPdf/Financial_Innovations_and_their_role_in_the_modern_financial_system_–_Identification_and_Systematization_of_the_problem_C_1136.pdf
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