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9780195050639

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<br> Rich in institutional detail, yet analytical in focus, this book provides a comprehensive look at the securities industry in the 1980s. Anyone interested in the changing structure of the industry, in product innovation, in regulatory issues, in market making and in a host of other topics will find this an interesting and rewarding book. --Hans R. Stoll, Vanderbilt University<br> Struggle and Survival on Wall Street: The Economics of Competition Among Securities Firms is required reading for those wanting to understand the economic motivations and workings of securities firms and the securities markets that they serve. Matthews' analysis of industry structure changes and institutional arrangements makes for particularly interesting reading. --Gene L. Finn, Vice-President and Chief Economist, National Association of Securities Dealers, Inc.<br> An imaginative, up to date application of the lessons of modern industrial organization and competitive analysis to the rapidly evolving, hi

Rich in institutional detail, yet analytical in focus, this book provides a comprehensive look at the securities industry in the 1980s. Anyone interested in the changing structure of the industry, in product innovation, in regulatory issues, in market making and in a host of other topics will find this an interesting and rewarding book. --Hans R. Stoll, Vanderbilt University<br> Struggle and Survival on Wall Street: The Economics of Competition Among Securities Firms is required reading for those wanting to understand the economic motivations and workings of securities firms and the securities markets that they serve. Matthews' analysis of industry structure changes and institutional arrangements makes for particularly interesting reading. --Gene L. Finn, Vice-President and Chief Economist, National Association of Securities Dealers, Inc.<br> An imaginative, up to date application of the lessons of modern industrial organization and competitive analysis to the rapidly evolving, highly competitive U.S. securities industry. --Ingo Walter, New York University<br> John Matthews' Struggle and Survival on Wall Street is an insightful analysis of broker-dealer competition as it developed in the '80s and continues even today. His focus on the innovation and adaptation of broker-dealers operating in a highly regulated environment, while satisfying customer demand and providing niche market opportunities, is well taken. Professor Matthews' significant policy recommendation that regulators provide an appropriately flexible framework for accommodating innovation is particularly on point. --Nicholas A. Giordano, President and Chief Executive Officer, Philadelphia Stock Exchange<br> Athoroughly researched book on an important and fascinating industry...Struggle and Survival on Wall Street provides a comprehensive study of securities firms. It should be of great interest to economists, as well as to practitioners who work in or with the securities industry. --Journal of Economic Literature<br>

Author Information

John Matthews is an Associate Professor of Economics at Villanova University.

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