7 January 2020

Joseph Yam

  • Recommendations for cultural change

    - Jul 24, 2017 12:00pm
    Finance is a service industry that has become self-serving. The consequence, regrettably, is the frequent occurrence of debilitating financial crises that undermine economic growth and development worldwide. For finance effectively to serve the economy, as it...
  • Inter-temporal shift of the intermediation spread

    - Jul 17, 2017 12:55pm
    The important services provided by the financial system in mobilizing money from those who have it to those in need of it obviously are not free. There are costs involved in the provision of the many...
  • Viewpoints on financial culture: Financial infrastructure

    - Jul 10, 2017 12:00pm
    We are all familiar with the physical infrastructure comprising such important facilities as airports, railways, roads and bridges that allow people and goods to be moved from one location to another safely and quickly. The efficient...
  • Financial culture: Incentive and behavior

    - Jul 3, 2017 12:00pm
    Behavior can mostly be explained by there being underlying incentives or motivation, and obviously the behaviors of stakeholders of the financial system shape the culture within. Some stakeholders are more influential than others, notably the financial...
  • Conflicting interests in finance

    - Jun 26, 2017 12:00pm
    In the governance of any jurisdiction, the authorities have the overall responsibility of promoting and protecting the public interest, whether it is in the making of policies and their implementation, or in the drafting and passing...
  • The zero-sum game in finance

    - Jun 19, 2017 5:22pm
    I am sure readers are familiar with the general characteristics of a zero-sum game, in which the winnings of players are always matched by losses of other players, and have come across and played in a...
  • Transformation, transfer and transaction of risks

    - Jun 12, 2017 12:00pm
    The matching of the different risk appetites of investors with the different risk profiles of fund raisers can be achieved through the transformation, transfer and transaction of risks. Banking, in its fundamental form, involves largely the...
  • Viewpoints on financial culture: Back to basics

    - Jun 5, 2017 12:00pm
    The public interest in finance Finance is essentially quite a simple area of activity, at least in terms of its purpose. In any economy, there are those with a surplus of money – for example, the...
  • Finance and the modern economy

    - May 29, 2017 12:00pm
    The great leader who embarked on the modernization of China, Deng Xiaoping, once said: “Finance is very important. It is the nucleus of the modern economy”. In saying this, Deng obviously wanted very much to emphasize...