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FNArena is not aligned with any financial institution, hence the moniker “independent”. Benchmark stock market indices touched fresh record highs on Thursday after gains in banking stocks. Download the Economic Times App now for latest business news updates, know wise investment options by industry experts, personal finance ideas, live news updates, breaking news and many more. Where LINK by Prudential is made available in connection with certain Financial Wellness products, access is made available through Prudential Workplace Solutions Group Services (“PWSGS”). PWSGS provides access to a number of Financial Wellness products, services, seminars and tools offered by PWSGS, its affiliates or third parties.

Prudential and its affiliates are not liable for use of the LINK by Prudential experience. Financial regulatory actions seem to have adversely affected innovation by financial firms, consistent with the broader literature (Aghion et al. 2021). In the years after the global financial crisis, financial innovation by banks shifted from locations with tight financial regulation to more permissive places. More speculatively, these results suggest that the seeming failure of banks and other financial institutions to expand their innovative scope may have been due to pressures from financial regulators. Not only may financial regulation have led financial incumbents to shift the location of innovative activities, but it may also have depressed their focus on innovation more generally. The financial services industry has historically differed from the bulk of manufacturing industries in the ability of innovators to appropriate their discoveries.

Pfizer’s document for the meeting was also published on Wednesday; it cited the need to look at the “totality” of clinical evidence when it comes to making a regulatory decision about a third dose of its vaccine. The FDA’s document, on the other hand, said it has not independently verified all potentially relevant studies. Investors should understand the risks involved in owning investments, including interest rate risk, credit risk and market risk. The value of investments fluctuates and investors can lose some or all of their principal. However, public business entities face a change in one aspect of disclosures about credit quality indicators under CECL. They are required to present the amortized cost basis not only by credit quality indicator but also by year of origination, or vintage year, for each indicator.

The number of citations , however, in finance patents to academic papers fell over time. This decline was most dramatic for banks, and for citations to business, economics, and finance journals. Three explanations can be offered for the patterns of fewer but more valuable academic references.

Moreover, the surge in financial patenting was driven by US information technology firms and those in other industries outside of finance. Banks and other financial institutions represented a modest share of the awards, with IT companies dominating. Banks and payments firms increasingly focused on their core areas, while IT firms and other financial firms have continued to patent widely in finance.

Productivity increased 2.1 percent in the nonfarm business sector in the second quarter of 2021; unit labor costs increased 1.3 percent . In manufacturing, productivity increased 8.0 percent and unit labor costs decreased 3.0 percent. Assurance IQ, LLC a wholly-owned subsidiary of Prudential Financial, Inc. (“Prudential”) matches buyers with products such as life and health insurance and auto insurance, enabling them to make purchases online or through an agent. Neither Prudential Financial, Inc. nor Assurance IQ offers, underwrites, or administers health plans or health insurance policies. We also examine the source of the ideas behind finance patents by exploring the relationship between financial innovations and the academic knowledge base. Over the sample period, academic citations in finance patents were associated with more impactful patents, an effect that held for such citations in general as well as citations to articles in business, economics, and finance journals.

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