1. Investment in IT and the business performance of financial companies / Irene Henriques, Perry Sadorsky -- 2. Recent development of information technology in Japanese banks / Nobuyoshi Yamori, Kozo Harimaya, Yoshihiro Asai -- 3. Payment systems of financial institutions : current state and future prospects / Yutaka Kurihara, Shigeaki Ohtsuka -- 4. Financial innovation and economic growth / Anita Ghatak -- 5. Malliavin calculus for the estimation of the U.S. Dollar/Euro exchange rate when the volatility is stochastic / Ahmed Abutaleb, Michael Papaioannou -- 6. Evolution of the Euro and currency competition in the global ICT age / Sadayoshi Takaya -- 7. Co-integration of the international capital markets with the use of information technology / Argyrios Volis -- 8. International capital movements, currency crisis, and ICT Innovation / Sadayoshi Takaya -- 9. Volatility spillover structure of stock and foreign exchange market between Korea, Japan, and Hong Kong / Masayuki Susai --10. Trade liberalization and international performance of Australian manufacturing industries and ITs / Andrew Marks -- 11. Recent developments of digital cash projects in Japan / Nobuyoshi Yamori, Nobuyoshi Nishigaki -- 12. Money is what money does / Mariusz K. Krawczyk -- 13. Investment in IT stocks by Japanese life insurers / Takeshi Kobayashi -- 14. The roles of IT in the conduct of modern monetary policy / Waranya Atchariyachanvanich, Kanokwan Atchariyachanvanich --

15. The role and future of local currency and IT / Yutaka Kurihara, Akio Fukushima -- 16. Integrity and security in the E-century / Carolyn Currie -- 17. Legal concerns against auctions and securities conventions / Takashi Kubota.