Contemporary Issues in Financial Institutions and Markets

John O.S. Wilson is Professor of Banking and Finance, and Director of Research, in the School of Management at the University of St Andrews, UK.Barbara Casu is Reader in Banking, and Director of the Centre for Banking Research, at Cass Business School, City University London, UK. David G. McMillan is Professor of Finance in the Accounting and Finance Division at Stirling Management School, at the University of Stirling, UK.

• 1. Introduction: Contemporary issues in financial institutions and markets John O.S. Wilson, David G. McMillan and Barbara Casu 2. Does securitization reduce credit risk taking? Empirical evidence from US bank holding companies Barbara Casu, Andrew Clare, Anna Sarkisyan and Stephen Thomas 3. Bancassurance efficiency gains: evidence from the Italian banking and insurance industries Franco Fiordelisi and Ornella Ricci 4. Financial deepening and bank productivity in Latin America Georgios E. Chortareas, Jesús G. Garza-García and Claudia Girardone 5. Islamic mutual funds’ financial performance and international investment style: evidence from 20 countries Andreas G.F. Hoepner, Hussain G. Rammal and Michael Rezec 6. The effect of liquidity on the price discovery process in credit derivatives markets in times of financial distress Sergio Mayordomo, Juan Ignacio Peña and Juan Romo 7. Return reversals and the compass rose: insights from high frequency options data Thanos Verousis and Owain ap Gwilym