Dissertations / Theses on the topic 'Banking business value'

Creating customer value and building stockholder value are the cornerstones for excellence in any business endeavour. In an under-developed economy, financial institutions may accomplish these objectives through a customer focus strategy and implementation of some quality management principles. However, with the increasing accessibility to new technologies and intensified competition, managers have been alerted and become more aware of the fact that achieving excellence is made even more difficult - financial institutions must now do much more to excel in the competitive retail banking environment of the new millennium. It is believed, and the findings of the present work support, that the formulation of a robust improvement model capable of guiding through the whole excellence pursuant process will provide a solid foundation for successfully meeting the challenge. The burning desire to enhance competitiveness and drive for achieving business excellence have nurtured the development of a new Business Excellence Model for successful implementation of TQM in retail banking. It was found that existing TQM and business excellence models provide only prescriptive and indicative roadmaps for companies to follow but fail to provide a complete coverage of TQM concepts, holistic measure of business excellence and validated links between TQM elements and business excellence. Hence, some financial institutions may cast doubts on their applicability of TQM because the relationships between TQM principles and the results of business excellence are not assessed. As such, it should be valuable to develop and provide a model, which is capable of covering the TQM essence in a structured way to drive total quality improvement efforts. The present research aims to develop a theory-driven as well as practical model for retail banks and the retail banking sector to achieve business excellence. In the process, Hong Kong retail banks and the Hong Kong retail banking sector were chosen as the context for the present research to obtain valuable data on how successful implementation of TQM essence could contribute to business excellence in a Chinese society. Both employees and customers inputs, being the important sources of stakeholder information, have been the basis for analysis. Top performing bank's executives were interviewed to identify the core activities and factors that determine their bank's success. Further, data were collected from executives of 47 retail banks in Hong Kong. Structural equation modelling was employed to develop the new Business Excellence Model (BEM). SEM's software programme was employed to analyse the goodness of fit of the new BEM. The forces of excellence indices and business excellence indices of the sampled retail banks were computed using the Partial Least Squares (PLS) technique. The same procedure was also applied to the data collected ll from retail customers in the survey to measure the level of customer satisfaction of the retail banking sector. The indices of the BEM were then matched to the customer satisfaction indices of retail banks and retail banking sector for higher level of analysis. Findings of the present work indicate that the new BEM fits the data of the 47 retail banks very well. The BEM is a valid and reliable model for enabling retail banks to review the current level of practice in relation to their critical success factors continuously. With the new BEM, they can now measure and drive improvement in their critical activities and finally achieving business excellence. Similar results obtained for customer focus dimension of the BEM and the customer satisfaction measurement have further substantiated the robustness and usefulness of the new BEM. Hence, the new Business Excellence Model should be a valuable means for retail banks and the retail banking sector to pursue business excellence and to gain a competitive edge in the new millennium.

Introduction: Driving the introduction of e-banking services in Egypt are structural changes, which have intensified competition across the banking sector. The value (net benefits) of e-banking services to their suppliers lies in their ability to attract new customers and retain those interested in using them. To achieve these objectives, requires an understanding of the value management process in e-banking services specifically within the Egyptian environment. Study Problem: Extant literature lacks an integrated model of value management relevant to the e-banking services. Empirical studies addressing the value of e-banking services in terms of antecedents and consequence in general and in the Egyptian environment are limited. Moreover, customer relationship management (CRM) literature disagrees on the factors reflecting the role of the internal operating environment and overlooks the role of the external environment in affecting the ability of service suppliers to create and deliver the value of e-banking services. Aim and objectives: This study sought to develop an integrated model for managing the value of e-banking services in the Egyptian environment through the following objectives. First, to identify the antecedents (requirements) and consequence of e-banking services perceived value from the demand side of e-banking services. Second, to explore factors shaping banks' ability to create and deliver value of offered e-banking services. Paradigm and research methods: This study adopted the critical realism paradigm, an anti-positivist paradigm, which supports the exploratory and the abductive nature of this research. To identify the antecedents and consequence of e-banking services perceived value from the demand side of e-banking services, an exploratory sequential strategy, in which in-depth interviews preceded the survey phase, was conducted. To explore factors shaping the banks' ability to create and deliver the value of e-banking services, semi-structured interviews were used. Key Findings: Findings related to the demand side indicated that improving e-banking services perceived value can significantly and positively strengthen the relationship between banks and customers. Antecedents of value were identified to be a combination of the explicit involvement of service suppliers in supporting face-to-face service encounters, e-banking services quality, and the role of external environment in promoting e-banking services. The ability of banks to create and deliver value of e-banking services is affected by their positioning strategy, bank branch design, employment scheme, criteria of recruiting front-office employees, and criteria of evaluating front-office employees' performance. The nature of the Egyptian economy, output of education system and legal system development were defined as highly influential within this process. Conclusion: It could be concluded that, managing the value of e-banking services is a dynamic process between service users and service suppliers.

В тезах доповіді піднято питання щодо існуючих методичних підходів до визначення вартості банківського бізнесу
In theses reports raised questions about the existing methodological approaches to determining the value of banking business

На сьогодні в умовах становлення та розвитку банківської системи все більшої актуальності набуває проблема визначення вартості банківського бізнесу, що обумовлено підвищенням конкуренції на ринку банківських послуг за останні роки.

Bank lending processes and lending relationships involve two aspects, the provision of liquidity via lines of credit and the production of information via monitoring. To access the existing credit line, a borrower must be in compliance with financial covenants. When violations occur, access becomes conditional upon the bank’s willingness to accommodate the customer. The bank values its reputation as an accommodating lender and views a decision regarding credit line access restrictions as a trade-off between reputational and financial capital. Since imposing restrictions on a more loyal borrower causes greater reputational damage, a bank’s “willingness” to accommodate increases in the strength of the relationship with its borrower. This is the first channel through which relationships have effect. To the extent that lending also involves monitoring, relationships allow a bank to build an exploitable information advantage. This is the second channel. Most credit lines are monitored, making it difficult to isolate the effects of these two channels. I identify commercial paper backup lines of credit as loans that provide liquidity, but do not involve information production and use them to construct two measures of relationship strength that capture the extent of bank’s willingness to provide liquidity (T-intensity ) and the bank’s information advantage (I-intensity ). To make sharper inferences concerning the effect of willingness, I control for a bank’s reliance on core deposits as a measure of “ability” to provide liquidity. I find that loan spreads decrease in T-intensity for firms without public equity. Thus, for such firms, credit lines have liquidity insurance value and it increases with relationship strength. I also find that loan spreads increase in I-intensity for all firms, suggesting that banks are successful at exploiting their information advantage (i.e. “holding up” borrowers). My findings imply that for relatively opaque borrowers, relationships have value even in the absence of private information production.

Abstract The role of relationship banking has been the subject of intensive discussion in recent years. A large body of the literature has examined the benefits and costs related to lender-borrower relationships in small business finance. Despite the numerous studies conducted in both market-based and bank-based economies, the specific sources of the determinants of the value of relationship lending are ambiguous. However, many research results imply that a close and long-term relationship with the bank is desirable for small businesses. In this study, we investigate the sources of value in Finnish lender-borrower relationships in small business finance. We conduct three separate empirical studies that cover the following aspects of relationship banking: determinants of the value of the bank-firm relationship, collateral requirements and borrower risk, and the comparison of the different characteristics of relationship banking in bank financing and non-bank financing. We use unique and detailed credit file data from two sources, bank data from one of the largest banks in Finland and non-bank data from a large financial institution owned by the Finnish state. Both datasets cover the period 1995 to 2001. Our main findings are the following. First, duration and scope are important characteristics in determining the sources of value in the bank-firm relationship. We find that a longer relationship tends to lower the cost of the credit, and that wider scope tends to decrease the collateral requirements significantly. Second, a long-lasting bank-firm relationship is beneficial, especially to high-risk firms. As the relationship matures, loan premiums for high-risk firms decrease at a higher rate than for low-risk firms. Third, low-risk borrowers put up more collateral than high-risk borrowers, which implies the existence of a signaling effect. According to the signaling theory, low-risk firms are willing to pledge more collateral than high-risk firms. Fourth, when comparing bank and non-bank credit files, we find that bank-firm characteristics are not fully transferable to the relationship between a non-bank and a firm.

There considerable debate amonst academics and practitioners that the delivery of value to customers represents a focal element through which competitive advantage can be generated. Extent research confirms the impact of value on the development of satisfaction and ultimately customer loyalty in both the business-to-consumer and business-to-business domains. However there paucity of research that focuses on the role and behaviour of value in the broad domain of technology and the specific area of e-services within the b2b domain. This study attempts to address the above identified shortcoming. In order to address the above aim a theoretically grounded model is propsed in which customer perceptions of value of e-banking is treated as a higher order construct of the related get (or benefits) and give (or sacrifices) components. Quality and risk associated witht he use of e-banking are determinants of customer perceptions of value while satisfaction and three forms of behavioural intention (i.e., word of mouth, switching and lock-in) are modelled as outcomes of value. Interrelationships between the antecedents and outcomes of value are also included in the model. Data, obtained from senior executives, from a random sample fo 167 UK based SME organisations operating across different industrial sectors were analysed using the Partial Least Square structural modelling technique. The results make the following a number of theoretical contributions to the subject matter. The conceptualisation of value as formative higher order construct, comprising the get and give components, is analytically supported. However, the differential behaviour of these two components implies that research should examine the nomological structures if get and give separately rather than as a composite, overall, construct. Following from above, it is suggested that related research should treat sacrifices as a component of rather than a determinant of value. Although some results are in line with extant literature there are a number of divergences that are attributed to the specificities of the research domain. This is attributed to and confirms the idisyncratic nature of value and results in the need for value research to account fot domain specific characteristics. Both components of value are significant determinants of satisfaction; however there is considerable different in their relative impact with the get component being dominant. The need for separation of loyalty into different forms of behaviour when examining the impact of value is demonstrated. Specifically, value as an effective mechanism for locking-in customers is demonstrated by the significant impact of both the get and give components. On the other hand neither of the value components are significant determinants of intention to switch and only the get component generates positive word-of-mouth. Finally, the importance of risk in the study of value in the b2b domain is confirmed. On the strength of the above managerial guidelines are proposed.

На основі систематизації особливостей банківського бізнесу як об’єкта оцінки виокремлено найбільш релевантні фактори, які формують його вартість. Проведено аналіз діяльності банків України на фондовому ринку, який довів неможливість оцінки вартості банківського бізнесу лише на основі ринкової капіталізації їх акцій. З метою оцінки вартості банківського бізнесу розроблено комплексний прирісний метод, який дозволив поєднати окремі елементи доходного та витратного підходів. Визначено концептуальні основи формування системи визначення вартості банківського бізнесу, досліджено взаємозв’язки між її цільовими та функціональними підсистемами. Поглиблено розуміння сутності економічних категорій “банківський бізнес”, “вартість банківського бізнесу” та “оцінка вартості банківського бізнесу”. Запропоновано скоригувати традиційний механізм розрахунку чистого грошового потоку банківського бізнесу. Удосконалено механізм врахування фактора часу при оцінці вартості банківського бізнесу шляхом розробки підходу до визначення часових меж функціонування бізнесу – вибору розрахункового періоду. Вартість власного капіталу банку запропоновано визначати на основі аналізу природи формування трьох складових доходу банку – процентної, комісійної, торговельної. Розроблено пропозиції щодо удосконалення нормативно-правового забезпечення процесу оцінки вартості банківського бізнесу в Україні.
Most relevant factors that form banking business value are marked out based on systematization of banking business peculiarities as an object for evaluation. Ukrainian bank activity on the stock market analyse is carried out, proves impossibility of banking business evaluation based only on market capitalisation of shares. Complex gaining method is developed with purpose to evaluate banking business, which allows consolidating different elements of profitable and wasteful approaches. Defined conceptual basis of banking business evaluation system, investigated interrelation between goal and functional subsystems. Meaning of essence of economic categories “banking business”, “banking business value” and “banking business evaluation” is advanced. Traditional mechanism of net cash flow calculation is proposed to correct. The mechanism of time factor influence on conditions of banking business evaluation is improved by working out approach to define time limits of business functioning – choosing the calculation period. Banking equity cost is proposed to calculate, basing on three kinds of banking income (interest, commission, trade) and way of forming income on every one of them. Proposes of standard-legal maintenance of process of banking business evaluation in Ukraine improvement are developed.

[Introduction] Cooperative banks in France have a major impact on the finance industry and the French economy. The French financial ecosystem differs in comparison with other European countries because of a higher number of cooperative banking groups, which have a dominant market share in the financial industry. With a highly competitive retail banking market frequently described as a commoditized space, customer satisfaction remains the largest competitive advantage for banks. [Research Purpose] Overall, the ambition with this research was to gain a deeper understanding of customer satisfaction in the retail banking market segment. The fundament of this thesis is a theoretical framework that analyzed customer satisfaction for retail clients of cooperative banks. By this, we identified which characteristic of the relationship between customers and their cooperative bank have the highest impact on customer satisfaction. Thus, our research question implied a search to explain an underlying causal relationship between six different variables within Perceived Quality and Perceived Value with customer satisfaction. Perceived Value (PV) included Trust, Employee Competences, and Price Transparency. Perceived Quality (PQ) included Accessibility, Reliability, and Reactivity. [Methodology] By adopting a quantitative approach, we could test, support and rank which variables impact customer satisfaction for cooperative banking clients. The analyzed dataset comprises a total of 21 914 respondents which are customers from 142 cooperative banking branches in France. [Results & Conclusion] From the analysis of the empirical results, we answered our research question by detailing the relationships between perceived quality; perceived value, and customer satisfaction. Finally, our findings indicated that Perceived Quality contributes to customer satisfaction in cooperative banking to a larger extend than Perceived Value. Moreover, the study ranked the importance of each variables impacting customer satisfaction as follow: (1) Accessibility, (2) Employee Competences, (3) Trust, (4) Reliability, (5) Price Transparency, (6) Reactivity.

It has been widely accepted that the banking industry is highly dependent on information technology (IT). Due to its pervasiveness and intertwining nature in most aspects of banking business, IT has also significantly become one of the critical components that facilitate the ability of banking institutions to meet regulatory requirements in an efficient and a cost-effective way. For instance, in the effort to mitigate the activities of money laundering and terrorism financing (ML/TF), various information on banking customers are timely and accurately gathered and analysed through automation. Furthermore, in many instances, IT systems exclusively built to achieve a similar objective are frequently established, and comparable to most IT implementations in the banking institutions, they are often can be equally regarded as a significant investment as well. Viewed from the longstanding debate on the value of IT investments to organisations, empirical research within the IS domain seemed to have placed less emphasis on the possible contribution of regulatory IT implementations. While it is easy to conceive that these IT deployments were never intended to directly benefit banking business from the outset, a study from this perspective should not be disregarded, but instead, warrant to be equally explored. The rationale for this statement can be attributed to the aforementioned assertion regarding the potentially substantial monetary investments required. In addition to this, it may also be due to the high tendency of stringent regulations being enforced in the future, and hence, could inevitably place a significant demand on organisational resources, and further influence their associated opportunity costs. For that reason, this study has attempted to fill the identified research gaps by conducting an investigation from the standpoint of a topical issue regarding anti-money laundering and counter terrorism financing (AML/CFT) implementation efforts within banking institutions. Utilising a conceptual framework that leverages the resource-based view (RBV) to structurally analyse a list of research objectives, empirical evidence of business benefits and the associated capabilities through organisational AML/CFT efforts have indeed been discovered. The benefits are particularly in the form of having the opportunity to leverage various information and infrastructure that were established for regulatory purposes. Further evidence has also suggested that selected AML/CFT alerts have the potential of providing unique opportunity for the organisation to trigger time-critical event-based marketing activities, resulting in a possible improved competitive positioning (ICP). Importantly, by appreciating the insights obtained through the research, a conceptual framework is proposed, which may aid to structurally assess the possible benefits of any organisational regulatory IT implementations.

The Swedish banking industry is constantly exposed to changes, mainly due to the revolutionof digitalisation. Mobilisation is another factor which affects the industry mainly by challengingemployers. The supply in the labour market has increased markedly and the needs of employeesare ever changing. With a wider range of employers to choose from, the efforts to meet theneeds of employees are more important than ever before. It is, therefore, important thatorganisations find ways to distinguish themselves from its competitors. Handelsbanken is oneof Sweden's largest organisations in the bank industry, they are well known for theirdecentralised organisational and have large markets shares mainly nationally but can be foundinternationally as well. The purpose of this research project is to gain a broader understandingregarding which strategies, within Employer Branding, organisations in the banking industryuse to motivate and keep current employees. To answer this research purpose a theoreticalframework has been conducted based on the following theories: employer branding, employeevalue proposition and employer retention. Primary data has been collected through semistructuredinterviews with ten respondents from Handelsbanken, including both managementand current employees. Results have shown that the studied bank have considered and appliedstrategies to meet the needs of their employees. Handelsbanken’s employees value the giventrust, development opportunities and the local decision making the organisation has. Theanalysis of these results leads to the conclusion that the employee retention efforts made by theemployer are successful. Internal options regarding career changes contribute to motivatingfurther engagements. An employee often strives for security and by offering internalmobilisation the organisation has established conditions to achieve a long-term career withinthe company. Since the study only includes the perspectives of one organisation within theindustry the results cannot be generalised for the whole industry.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009.
ENGLISH ABSTRACT: Since the early 1990’s shortly after Namibia gained independence, the Namibian financial industry has gone through substantial changes. New bank legislation and regulatory requirements were introduced and the market broadened to include blacks who were excluded from the formal banking services. Customers gained more bargaining power, competition intensified, international scrutiny intensified and customers now demand more sophisticated products and quality service. The Namibian banking and financial industry is relatively well developed in terms of service institutions and instruments. Like most developing countries, the financial and banking industry is made up of formal and informal sectors. The formal sector consists of the central bank, commercial banks, development financial institutions (Development Bank of Namibia), insurance companies and the stock exchange, while the informal sector comprises mainly of micro lenders. The Namibian banking industry comprises of four commercial banking groups of which FNB Namibia is the market leader, as can be seen in this paper. The BEE (Black Economic Empowerment) partnership has also enabled FNB to venture into areas that were previously unbanked or under banked. The focus has shifted from urban centres to rural areas. The financial services industry has prospects to grow given the economic, political and environmental stability in Namibia. However, the Namibian economy is not immune to the external forces responsible for the global economic slowdown. This economic slowdown affects food, oil and energy prices, which in turn affect the performance and profitability of FNB Namibia. In addition to this, an entry of two commercial banks (ABSA and PHB Bank) is underway, which will erode FNB’s profits and reduce market share. The purpose of this research was to analyse and assess the alignment of the strategic planning and budgeting process within FNB Namibia. It further intends to establish how best this management model is able to cope with the fast changing environmental and business landscape. The research also explores an alternative strategic planning and budgeting approach that will promise to create and improve shareholder value. The research focuses on the experience of FNB Namibia Holdings Limited, which operates in the banking and financial industry. The FNB Group was traditionally a banking institution with its primary focus on retail banking and asset financing in the higher end of the market. The strategic goals of the Group are based on three pillars, i.e. People, Customer and Efficiencies. The Group seeks to achieve its mandate based on these pillars and through innovation and value adding partnerships. An overview of the banking industry as well as the governing structures of FNB and the entire banking industry is provided. The external and internal business environment has an impact on the operations of FNB, both negative and positive. Therefore an environmental analysis on the basis of the political, economic, social, technological and environmental aspects was done. A detailed historical perspective was provided, which also provided the context of the transformation that took place in the discipline of strategic planning and budgeting. The Beyond Budgeting management model that is based on devolved leadership was explored and recommended as an alternative to the traditional command and control model. The devolved leadership principles empower the frontline managers and allow decision making to be made at customer contact. The move from the traditional strategic planning and budgeting model to Beyond Budgeting will require a systems transformation and not only a change in some part. To understand FNB’s management model, the Biomatrix systems thinking approach is recommended to analyse the underlying processes in accordance with the seven perspectives of organisation, i.e. ethos, environment, aims, structure, process, resources and governance. The analysis of FNB along these seven perspectives will ensure that strengths and weaknesses are identified in the whole system (company) and that the people in the company are well prepared for change. The Balanced Scorecard was also explored and recommended as a tool to improve strategy implementation and a tool to communicate the strategy to the rest of the company. Conclusions were drawn from the research and some recommendations were made for the transformation of the FNB management model and the implementation thereof.
AFRIKAANSE OPSOMMING: Sedert die vroeë 1990’s en kort nadat Namibië onafhanklikheid verkry het, het die Namibiese finansiële bedryf aansienlike veranderinge beleef. Nuwe bankwetgewing en reguleringsvereistes is ingestel en die mark het breër geword om swart mense in te sluit, nadat hulle voorheen van die formele bankdienste uitgesluit was. Kliënte het groter onderhandelingsmag verkry, mededinging het intensiewer geword, die internasionale soeklig het feller geword en kliënte vereis nou meer gesofistikeerde produkte en gehaltediens. Die Namibiese bank- en finansiële bedryf is relatief goed ontwikkel ten opsigte van diensinstellings en –instrumente. Soos in die meeste ontwikkelende lande bestaan die finansiële en bankindustrie uit formele en informele sektore. Die formele sektor bevat die sentrale bank, handelsbanke, ontwikkelings-finansiële instellings (Ontwikkelingsbank van Namibië), versekeringsmaatskappye en die aandelebeurs, terwyl die informele sektor hoofsaaklik uit mikroleners bestaan. Die Namibiese bankwese omvat vier handelsbankgroepe waarvan FNB Namibia die markleier is, soos uit hierdie navorsing afgelei kan word. Die SEB-vennootskap (Swart Ekonomiese Bemagtiging) het FNB ook in staat gestel om toegang te verkry tot areas waar daar voorheen geen of te min bankbedrywighede was. Die fokus het van stedelike na landelike gebiede verskuif. Die finansiëledienstebedryf het groeivooruitsigte gegewe die ekonomiese, politieke en omgewingstabiliteit in Namibië. Die Namibiese ekonomie is egter nie immuun teen die eksterne magte wat verantwoordelik is vir die wêreldwye ekonomiese verlangsaming nie. Hierdie ekonomiese verlangsaming het ‘n uitwerking op die prys van voedsel, olie en energie, wat op hulle beurt die prestasie en winsgewendheid van FNB Namibia beïnvloed. Daarbenewens word die toetrede van twee ander handelsbanke (ABSA en PHB Bank) verwag, wat FNB se wins verder sal inkort en sy markaandeel sal verminder. Die doel van hierdie navorsing is om te ontleed en te beoordeel of die strategiese beplannings- en die begrotingsproses binne FNB Namibia met mekaar belyn is. Dit het verder ten doel om te bepaal hoe hierdie bestuursmodel die vinnig veranderende omgewings- en sakelandskap ten beste kan hanteer. Die navorsing ondersoek ook ‘n alternatiewe benadering tot strategiese beplanning en begroting met die oog op die skepping en verbetering van aandeelhouerswaarde. Die navorsing fokus op die ondervinding van FNB Namibia Holdings Ltd, wat in die bank- en finansiële nywerheid bedryf word. Die FNB Groep was tradisioneel ‘n bankinstelling met sy primêre fokus op kleinhandelbankwese en batefinansiering in die hoër gedeelte van die mark. Die strategiese doelwitte van die Groep is gebaseer op drie pilare, nl. Mense, Kliënt en Vaardighede. Die Groep wil sy mandaat bereik gebaseer op hierdie pilare en deur innovering en waardetoevoegende vennootskappe. ‘n Oorsig van die bankwese asook die bestuurstrukture van FNB en die totale bankindustrie word voorsien. Die eksterne en interne sakeomgewing het ‘n impak op die bedryf van FNB, beide negatief en positief. Daar is dus ‘n omgewingsontleding op die basis van die politieke, ekonomiese, sosiale, tegnologiese en omgewingsaspekte uitgevoer. ‘n Gedetailleerde historiese perspektief word gegee, wat ook die konteks voorsien vir die transformasie wat plaasgevind het in die dissiplines van strategiese beplanning en begroting. Die Beyond Budgeting-bestuursmodel, gebaseer op die afgewentelde leierskap is ondersoek en word aanbeveel as ‘n alternatief tot die tradisionele bevels- en beheermodel. Die beginsels van afgewentelde leierskap bemagtig die bestuurders in die kantore waar kliënteskakeling plaasvind, om besluite te neem. Die verskuiwing van die tradisionele model van strategiese beplanning en begroting na Beyond Budgeting, vereis ‘n stelseltransformasie en nie net ‘n gedeeltelike verandering nie. Ten einde die FNB se bestuursmodel te begryp, word die Biomatrix-benadering van stelseldenke aanbeveel om die onderliggende prosesse te ontleed ooreenkomstig die sewe perspektiewe van organisasie, naamlik etos, omgewing, doelwitte, strukture, proses, hulpbronne en bestuur. Die ontleding van FNB op grond van hierdie sewe perspektiewe verseker dat die sterk en swak punte in die hele stelsel (maatskappy) geïdentifiseer word en dat die mense in die maatskappy goed voorberei word op verandering. Die Balanced Scorecard is ook ondersoek en word aanbeveel as ‘n instrument om die implementering van strategie te verbeter en die strategie aan die res van die maatskappy te kommunikeer. Gevolgtrekkings is uit die navorsing gemaak en ‘n paar aanbevelings word gedoen vir die transformasie van die FNB-bestuursmodel en die implementering daarvan.

Bakgrund: Banksektorn agerar inom en föränderlig miljö där digitaliseringen driver utvecklingen framåt. Ökad digitaliseringen resulterar i nya direktiv och därmed en stark utveckling av fintech-lösningar. Utvecklingen av fintech har drivit fenomenet E-banking framåt då fler människor genomför sina bankärenden online. Den föränderliga marknaden med kunders förändrade preferens ersätter press på banken att erbjuda attraktiva E-bankingtjänster för att inte förlora sin position på marknaden. Där skapandet av förtroende är en nödvändig förutsättning för långvariga bankrelationer. Förtroende byggs traditionellt upp genom fysiska möten, men med utvecklingen av E-banking försvinner dessa möten mer och mer. Hur skapas då förtroende hos kund gentemot banken? Syfte: Syftet med denna studie är att skapa förståelse för hur kundernas förtroende för banker påverkas i samband med fenomenet E-banking. Genomförande: Studien är en kvalitativ flerfallstudie som studerat sju fall. Studien grundar sig i det hermeneutiska synsättet med ett induktivt arbetssätt som stöds av en iterativ process. Empiriinsamlingen består av sjusemistrukturerade intervjuer gjorda utefter ett kontrasturval baserat på respondenternas ålder, där samtliga respondenter är aktiva bankkunder. Empiriinsamlingen har kompletterats med dokumentstudier. Slutsats: Studiens resultat visar på att bankens utformning av E-bankingtjänster blir ett viktigt verktyg för att undvika kunders missnöje, där en god utformningen av bankens E-bankingtjänster skapar förtroende. Studien visar på att kunderna efterfrågar social interaktion i form av personlighet men inte nödvändigtvis fysisk kontakt. När de fysiska mötena ersätts av digitala lösningar blir utmaningen för banken att skapa personliga erbjudanden som möter varje kunds efterfråga. Om banken lyckas skapa E-bankingtjänster som erbjuder allt som en kund efterfrågar med ett fysiskt möte, så som personlig kommunikation; engagemang & kundorientering samt kompetens & ärlighet, kommer det fysiska mötet inte längre efterfrågas på samma sätt av användarna av E-bankingtjänsterna. Banken kan då klara av att bemöta den digitala världen utan att förlora förtroendet och lojaliteten hos sina kunder. Vidare visar studiens resultat att det är av stor vikt att banken är medveten om att kundernas behov och preferenser kan förändras av olika anledningar och det gör det viktigt för banken att göra kontinuerliga uppföljningar för att säkerställa att kunderna är nöjda med bankens E-bankingtjänster. Det framgår att kunders preferenser skiljer sig beroende på ålder, erfarenhet och egna upplevelser, därav bör banken erbjuda personliga E-bankingtjänster för att skapa förtroende hos sina kunder.
Background: The banking sector is operating in a changing environment where digitalization is driving development forward. Increased digitalization results in new directives and thus a strong development of fintech solutions. The development of fintech has pushed the phenomenon of E-banking forward as more people carry out their banking business online. The changing market with changing customer preferences puts pressure on the banks to offer attractive E-banking services in order not to lose its position in the market. The creation of trust is a prerequisite for long-term banking relationships. Trust is traditionally built up through physical meetings, but with the development of E-banking, these meetings are disappearing more and more. How, then, should the bank create customer trust? Purpose: The purpose of the study is to create an understanding of how customers trust in banks is affected in connection with the phenomenon of E-banking. Completion: The study uses a multiple case study design where seven cases have been studied. The study is based on a hermeneutic philosophical standpoint with an inductive approach supported by an iterative process. The collection of empirical data consists of seven semi-structured interviews conducted with a selection based on the contrast of the respondents age, where all respondents are active bank customers. The collection of empirics has been supplemented with document studies. Conclusion: The study’s result shows that the bank’s design of E-banking services becomes an important tool to avoid customer dissatisfaction, where a good design of E-banking services creates trust. The study shows that customers are demanding social interaction in the form of personalized contact but not necessarily physical contact. When the physical meetings are replaced by digital solutions, the challenge for the bank is to create personalized offers that meet every customer’s demand with physical meeting, such as personal communication; commitment & customer orientation as well as competence & honesty, then the physical meetings will no longer be requested in the same way by the users of E-banking services. The bank can then cope with the digital world without losing the trust and loyalty of its customers. Furthermore, the study’s results show that it is of great importance that the bank is aware that customers’ needs, and preferences can be changed for various reasons. Therefore, it's important for the bank to know their customers and make continuous follow-ups to ensure that customers are satisfied with their E-banking services. Customers’ preferences differ depending on their age and experiences; hence the bank should offer personalized E-banking services in order to build trust with their customers.

Hållbar utveckling är ett aktuellt ämne i dagens samhälle och det ställs allt högre krav på att företag ska ta sitt ansvar för att bidra till en hållbar utveckling. Bankerna är de aktörer som kan styra hur kapital ska investeras och har därmed stor makt och mycket att vinna på att främja en hållbar utveckling i samhället. De globala affärsmöjligheterna som marknaden för hållbar utveckling utgör uppskattas att år 2050 uppgå till omkring tre biljoner dollar per år. Banking on shared value (BSV), som är en vidareutveckling av creating shared value, innebär att banker kan generera ekonomiskt värde på ett sätt som samtidigt skapar socialt och miljömässigt värde. Av en granskning som har utförts av Fair Finance Guide framgår det att de sju största bankerna i Sverige får relativt låga hållbarhetsbetyg. Många forskare menar att sustainability management control systems (SMCS), vilket är en en utvecklad modell av Malmi och Browns teori om MCS kan vara nyckeln till att lyckas integrera hållbar utveckling i verksamheten. Det efterfrågas dock fler praktikfall inom området. Syftet med denna studie är att bidra till en ökad förståelse för hur företagsledningen inom banksektorn kan använda SMCS för att integrera hållbar utveckling i sin verksamhet En fallstudie har genomförts av Ekobanken som är den enda svenska bank som är medlem i Global Alliance for Banking on Values och som har fått högst betyg av samtliga banker i Fair Finance Guides granskning. Det empiriska materialet har samlats in med hjälp av intervjuer med två personer inom Ekobankens ledning samt från dokumentstudier. Studien har en abduktiv ansats. Vi har identifierat Ekobankens mest framträdande styrningsverktyg som kulturell styrning som har ett starkt fokus på hållbar utveckling, administrativ styrning och cybernetiska styrningsverktyg. Ekobanken har enligt oss ett väl fungerande SMCS som lyckas med att integrera hållbar utveckling i verksamheten. Vi anser dock inte att Ekobankens arbete med hållbar utveckling kan definieras som BSV fullt ut men att de är den bank i Sverige som i nuläget kommer närmast att uppfylla kraven för BSV. Vi menar därmed att studiens resultat med fördel kan verka inspirerande för andra banker. Det är framförallt Ekobankens transparens, öppna klimat, ledningens engagemang samt deras hållbarhetsredovisning och utlåningspolicy som andra banker, som jobbar mot hållbar utveckling, enligt vår mening bör ta fasta på.
Sustainable development is a topical subject in today's society and there is an increasing demand for companies to take responsibility by contributing to sustainable development. The banks control how capital is invested, thus giving them great power to and a lot to gain from promoting sustainable development in society. The business opportunities from the market for sustainable development is estimated to provide a value of three trillion dollars annually by 2050. Banking on shared value ​​(BSV), which is a further development of creating shared value, means that banks can generate economic value and at the same time create social and environmental value. A review conducted by Fair Finance Guide shows that the seven largest banks in Sweden are performing relatively low results in terms of sustainability. Many researchers argue that sustainability management control systems (SMCS), which is a developed model of Malmi and Brown's theory about MCS, can be the key to successfully integrating sustainable development into the business. However, more practical cases are required in the area. This study aims at contributing to an increased understanding of how corporate governance in the banking sector can use SMCS to integrate sustainable development into the business. A case study has been carried out on Ekobanken, which is the only Swedish bank that is a member of Global Alliance for Banking on Values and has been awarded the highest rating in the Fair Finance Guide´s review. The empirical material has been collected by means of semi-structured interviews with two persons within Ekobanken´s management team as well as documentary studies. The study has an abductive approach. We have identified Ekobanken's most prominent management tools as cultural governance with a strong focus on sustainable development, administrative governance and cybernetic management tools. In our opinion Ekobanken has a successful SMCS that manage to integrating sustainable development into the business. However, Ekobanken's work with sustainable development can, in our opinion, not be fully defined as BSV, but we believe that they are the bank in Sweden that is currently closest to meeting the requirements for BSV. Therefore we mean that the results of this study can be of inspiration for other banks. It is primarily Ekobanken's transparency, open climate, management's commitment, and their sustainability report and lending policy that other banks working towards sustainable development should strive to apply.

In 2005, all groups listed on European stock exchanges are required to prepare their consolidated financial statements according to International Financial Reporting Standards (IFRS). IFRS are different from local regulations across Europe in many aspects, and observers expect the transition process thorny and resource-draining for the companies that undertake it.

The study explores transition difficulties by Swedish bank groups on the way of implementing IAS 39, Financial Instruments: Recognition and Measurement. Deemed the most controversial and challenging standard for adoption by the financial sector, it indeed poses new demandson classification, recognition and measurment of financial instruments, and sets out new hedge accounting rules, previously unseen in Swedish practice. Additionaly, the structure of bank's balance sheets makes IAS 39 also the central one among all other standards in terms of numbers of balance sheet items it impacts.

The study uses qualitative method to explore whether transition to IAS 39 is likely to improve transparency in reporting derivatives. Focus is on use of interest rate swaps as hedging instruments in mitigation of interest rate risk.

It is concluded that differences between two reporting frameworks have been well understood by the banks early in the implementation process. A negative feature of the standard is increased volatility in earnings as a result of more wide-spread reliance on fair value measurement method. This accounting volatility impedes comparability of performance results, as well as conceals true efficiency of economic hedge relationships. To some degree, the volatility can be minimized by the application of hedge accounting. However, a bank must methodically follow a set of rigourous if hegde accounting is to be adopted. Fair value is a more straightforward alternative to hedge accounting , but it brings in additional concerns, and has not yet been endorsed in the EU.

It is additionally argued that recognition of all derivatives on BS and measurement at fair value are two important features of IAS 39 that indeed increases reporting transparency by minimizing risk of undisclosed hidden losses.

In 2005, all groups listed on European stock exchanges are required to prepare their consolidated financial statements according to International Financial Reporting Standards (IFRS). IFRS are different from local regulations across Europe in many aspects, and observers expect the transition process thorny and resource-draining for the companies that undertake it. The study explores transition difficulties by Swedish bank groups on the way of implementing IAS 39, Financial Instruments: Recognition and Measurement. Deemed the most controversial and challenging standard for adoption by the financial sector, it indeed poses new demandson classification, recognition and measurment of financial instruments, and sets out new hedge accounting rules, previously unseen in Swedish practice. Additionaly, the structure of bank's balance sheets makes IAS 39 also the central one among all other standards in terms of numbers of balance sheet items it impacts. The study uses qualitative method to explore whether transition to IAS 39 is likely to improve transparency in reporting derivatives. Focus is on use of interest rate swaps as hedging instruments in mitigation of interest rate risk. It is concluded that differences between two reporting frameworks have been well understood by the banks early in the implementation process. A negative feature of the standard is increased volatility in earnings as a result of more wide-spread reliance on fair value measurement method. This accounting volatility impedes comparability of performance results, as well as conceals true efficiency of economic hedge relationships. To some degree, the volatility can be minimized by the application of hedge accounting. However, a bank must methodically follow a set of rigourous if hegde accounting is to be adopted. Fair value is a more straightforward alternative to hedge accounting , but it brings in additional concerns, and has not yet been endorsed in the EU. It is additionally argued that recognition of all derivatives on BS and measurement at fair value are two important features of IAS 39 that indeed increases reporting transparency by minimizing risk of undisclosed hidden losses.

The Nigerian microfinance banks often close their offices abruptly, leading to the loss of shareholders' funds. The purpose of this phenomenological study was to explore strategies microfinance bank directors use to maintain business sustainability. The concepts of microfinance banking, sustainability value, and strategic management theory formed the conceptual framework for this study. Twenty managing directors from microfinance banks in the Anambra state of Nigeria participated in semistructured interviews. The data analysis process involved the use of Moussakas' modified van Kaam process, which resulted in the emergence of 3 themes: strategic management, fear of microlending, and maintaining sustainability. The emergent themes indicated the necessity of a strategic management focus on maintenance of sustainability, growth in microfinance banking knowledge, best practice implementations, savings mobilization, technological input, and expansion of microlending services. The implications for positive social change involved the potential for bank directors to apply these findings to improve Nigerian microfinance banking performance and provide regular payments of shareholders' dividends. The increase in shareholders' funds and provision of credit administration to indigent Nigerians may contribute to economic growth within local communities, decrease crime, and increase income generating business activities in Nigeria.

Being influenced by advanced technology solutions, modern business is undergoing significant transformations. This is also true about the financial services sector, where innovative solutions are being actively used and new fintech companies are emerging. Against this background, the market share of large traditional banks reduces steadily. These trends are also observed in Sweden, which has one of the highest levels of digitalization of banking services in Europe. The described trends may indicate that Swedish traditional banks are unable to compete with fintech companies and adapt to the new business environment. Consequently, the purpose of the research is to assess the current and potential positions of large traditional Swedish banks in the financial services market. In particular, when considering the situation through the prism of service-dominant logic, it is necessary to understand the place that large traditional banks occupy in the overall process of value creation with the participation of the consumer. In this regard, the following questions have been examined within the research: RQ1. How can the largest traditional banks in Sweden preserve their market positions in the overall value creation process? RQ2. What services offered by the traditional banks are the most exposed to customer outflow? To answer the questions posed, the exploratory research has been carried out, which is based on a case study and an in-depth study of a specific example, namely the development of Swedbank in a changing market context. The research data has been mostly derived from the interview, although, to reduce its bias and subjectivity, the secondary data, providing an idea of market trends, has been also analyzed. As a result of the research, it has been determined that the main advantages of fintech companies are high specialization, seamless processes, and reduced government control. Against this background, traditional banks are losing market share, but in the future, the situation should stabilize. The reason is that traditional banks have the scale, infrastructure, and operant resources to deliver comprehensive financial services that require a customized approach and cannot be automated. In addition, large traditional banks could potentially act as a platform for the technological development of the entire industry. These circumstances determine the specific advantages and the development of incumbent banks in Sweden, although the involvement of consumers in the co-creation process through social media and mobile applications is still the problem.

Finansiell rådgivning är en tjänst som karaktäriseras av att det är en aktivitet som ett företag utför för att möta kundens behov. Interaktionen mellan den finansiella rådgivaren och kunden är därmed betydelsefull. Då en interaktion består av två parter är det även relevant att studera den finansiella rådgivarens perspektiv. Syftet med studien är att bidra med förståelse för de utmaningar som finansiella rådgivare upplever i det digitala rådgivningsmötet. För att kunna uppfylla syftet med studien har en kvalitativ forskningsmetod använts. Det empiriska materialet bestod av sju semistrukturerade intervjuer med finansiella rådgivare. Studiens resultat visar att de finansiella rådgivarna upplever att det digitala rådgivningsmötet fungerar relativt väl. Dock upplever de finansiella rådgivare som har intervjuats att det finns vissa utmaningar i det digitala rådgivningsmötet. Resultatet visar att det uppstår olika utmaningar i de olika faserna i rådgivningsprocessen.
Financial advice is a service that is characterized by the fact that it is an activity that a company performs to meet the customer's needs. The interaction between the financial advisor and the client is thus significant. As an interaction consists of two parties, it is also relevant to study the financial advisor's perspective. The purpose of the study is to contribute with an understanding of the challenges that financial advisors experience in the digital advisory meeting. In order to fulfill the purpose of the study, a qualitative research method has been used. The empirical material consisted of seven semi-structured interviews with financial advisors. The results of the study show that the financial advisors feel that the digital advisory meeting works relatively well. However, the financial advisers who have been interviewed experience that there are certain challenges in the digital advisory meeting. The results show that different challenges arise in the different phases of the counseling process.

Our interest in this thesis is first to combine the different measurement techniques for operational risk in financial companies, and we highlight more and more the consequences of estimation risk which is treated as a particular part of operational risk. In the first part, we will present a full overview of operational risk, from the regulatory laws and regulations to the associated mathematical and actuarial concepts as well as a numerical application regarding the Advanced Measurement Approach, like Loss Distribution to calculate the capital requirement, then applying the Extreme Value Theory. We conclude this first part by setting a scaling technique based on (OLS) enabling us to normalize our external data to a local Lebanese Bank. On the second part, we feature estimation risk by first measuring the error induced on the SCR by the estimation error of the parameters, to having an alternative yield curve estimation and finishing by calling attention to the reflections on assumptions of the calculation instead of focusing on the so called hypothesis "consistent with market values", would be more appropriate and effective than to complicate models and generate additional errors and instability. Chapters in this part illustrate the estimation risk in its different aspects which is a part of operational risk, highlighting as so the attention that should be given in treating our models

Les banques coopératives et mutualistes font face à des contraintes réglementaires, de croissance et concurrentielles qui mettent en danger leur spécificités organisationnelles et favorisent leur banalisation. De par leur volonté de maintenir leur existence et de perdurer, les réseaux coopératifs et mutualistes ont entamé un long processus d’adaptation conduisant à l’apparition de ce que la littérature qualifie de groupes bancaires coopératifs (Pourchet, 2012 ; Pourchet, De Serres et al. 2014). Dès lors la question du maintien de leurs particularités en termes d’activités, de gouvernance et de valeurs bancaires peut légitimement être posée. Cette recherche doctorale s’intéresse aux spécificités des groupes bancaires coopératifs par rapport à leurs consoeurs capitalistes et son objectif est double. A travers trois études empiriques, nous cherchons d’une part, à savoir si les spécificités des banques coopératives, notamment de gouvernance et de valeurs, constituent encore aujourd’hui un élément de différenciation pour ces groupes. Et d’autre part, nous évaluons la place qu’occupent les valeurs des banques dans leurs processus décisionnels. Dans une première partie, par le biais d’une analyse de contenu, nous nous intéressons à la formalisation éthique des banques coopératives en comparaison avec celle des banques capitalistes. Puis, la deuxième partie met en évidence les différences historiques au niveau des activités des groupes coopératifs. Enfin, la dernière partie évalue le niveau d’intégration des valeurs bancaires par les chargés d’affaires entreprises dans le cadre des décisions de financement des PME. Les résultats montrent une atténuation des différences historiques entre les deux catégories de banques, une communication éthique forte des banques capitalistes avec une intégration faible des valeurs dans les schémas cognitifs de leurs chargés d’affaires. Les chargés d’affaires des banques coopératives sont fortement imprégnés de l’esprit coopératif, ce qui fait apparaître des divergences dans leurs pratiques quotidiennes du métier bancaire par rapport à leurs concurrents capitalistes
Cooperative and mutual banks are faced with regulatory constraints, growth and competitiveness, which endanger their organizational characteristics and promote their trivialization. By their desire to maintain their existence and continue, the cooperative and mutual banks have begun a long process of adaptation leading to the emergence of what the literature describes as cooperative banking groups (Pourchet, 2012; Pourchet, & De Serres & al. 2014). Therefore, the question of maintaining their particularities in terms of activities, governance and banking values can legitimately arise. This doctoral research is interested in the specificities of cooperative banking groups compared to their capitalist counterparts and its objective is twofold. Through three empirical studies, we aim firstly whether the specifics of cooperative banks, particularly governance and values, still a differentiating factor for these groups. And second, we evaluate the role played by the values of the banks in their decisions. In the first part, by means of a content analysis, we are interested in the ethical formalization of cooperative banks compared to that of capitalist banks. Then, the second part highlights the historical differences in the activities of cooperative groups. Finally, the last part evaluates the level of integration of values by business managers in the framework of SME financing decisions. The results show an attenuation of the historical differences between the two categories of banks, a strong ethical communication of capitalist banks with a weak integration of values in the cognitive patterns of their managers. The account managers of cooperative banks are strongly imbued with the cooperative spirit, which reveals differences in their daily banking practices compared to their capitalist competitors

Bakgrund: Under flera år har några av Sveriges största banker kritiserats under den så kallade “penningtvätts-härvan”. Media har till stor del uppmärksammat skandalen utifrån ett företagsperspektiv men desto mindre ur ett kundperspektiv. Skandalernas relevans och aktualitet öppnar upp för att undersöka på vilket sätt bankkunder reagerar till följd av penningtvättsskandaler. Syfte: Syftet är att undersöka vilken effekt penningtvättsskandaler har på konsumenters befintliga attityder gentemot banker. Med anledning av de senaste årens uppmärksammade bankskandaler i Sverige görs undersökningen för att avgöra om attitydförändringen vidare har någon påverkan på konsumenters beteende i förhållande till bankerna. Tidsperspektivet gör denna studie relevant för att undersöka i vilken utsträckning konsumenter påverkas av denna typ av skandal vilket ger viktiga insikter för finansföretag. Metod: För att uppfylla vårt informationsbehov bestod vår empiri av kvantitativ data som samlades in genom enkäter. Vi var intresserade av att undersöka om det fanns ett samband mellan studenters attitydförändringar och beteende gentemot bankerna. Urvalet bestod av studenter som läser någon form av ekonomisk inriktning vid Högskolan i Borås. I enkäterna presenterades ett fiktivt fall där en penningtvättsskandal illustrerades samt information om hur studenterna skulle påverkas av skandalen. I det ena fallet drabbades studenterna ekonomiskt negativt av skandalen medan de inte drabbades i det andra fallet. Vi skickade således ut tvåenkäter, där hälften av urvalet fick den ena enkäten medan den andra hälften fick den andra. Resultat: Många av studenterna har relativt stabila relationer till sina banker innan skandalerna. Efter skandalerna värdesatte studenterna främst det egna intresset vilket medförde att de inte längre var lika lojala gentemot sina banker. Det skedde en tydlig attitydförändring blandstudenterna efter skandalerna oavsett ekonomisk påverkan. Slutsatser: Utifrån undersökningens modifierade modell kan vi dra slutsatserna att studenternas värderingar, egenintresse och lojalitet till banken tillsammans bidrar till en attitydförändring till följd av skandalerna. Det innebär att penningtvättsskandalen i de fiktiva fallen visade sig ha en effekt på studenternas befintliga attityder gentemot deras banker. Denna attitydförändring mynnar vidare ut i ett beteende orsakat av skandalerna.
Background: For several years, some of Sweden's largest banks have been criticized during the so-called “money laundering scandal”. The media has largely drawn attention to the scandal from a business perspective, nevertheless from a customer perspective. The scandal's relevance and timeliness opens up to investigate how bank customers react due to money laundering scandals. Purpose: The purpose of this study is to investigate the effect of money laundering scandals on consumers' existing attitudes towards banks, based on the recent banking scandals in Sweden in recent years. This is to determine if the change in attitude further has any effect on consumerbehavior in relation to the banks. The time perspective makes this study relevant to examining the extent to which consumers are affected by this type of scandal, which provides important insights for financial companies. Methodology: To fulfill the purpose of the study, our empirical data consisted of quantitative data collected through surveys. We were interested in investigating whether there was a connection between students' attitude changes and behavior towards the banks. The sample consisted of students who study some form of financial orientation at the University of Borås. The survey presented a fictitious case in which a money laundering scandal was illustrated as well as information on how the students would be affected by the scandal. In one case, the students were financially negatively affected by the scandal while in the other case they were not affected financially. Half of the students received the survey were they were negatively affected and the other half, the one where they weren´t affected. Findings: Many of the students seemed to have relatively stable relationships with their banks before the scandals. Following the scandals the students seemed to value their self-interest which meant that they were no longer as loyal, as before, to their banks. There was a clear change in attitude among the students following the scandals regardless of financial impact. Conclusions: Based on the study’s modified model, we can conclude that the students' values, self-interest and loyalty to the bank contribute to a change in attitude towards the bank as a result of the scandals. This means that in the fictitious cases, the money laundering scandal had an effect on the students' existing attitudes towards their banks. The change in attitude further leads to a behavior caused by the scandals.

碩士
國立中央大學
財務金融研究所
92
In knowledge economy, key success factors of a business have migrated from traditional tangible assets to intangible assets such as: Customer Relationship Management, Supply Chain Management , Human Resource Management and Innovation. Focusing on nonfinancial information is, therefore, becoming more imperative in valuing a business. However, such nonfinancial information or value drivers are rarely seen in current reporting practice. A trend of unveiling business information shall tend to reflect capability of value creating process of a business for the purpose of appraising value. Eventually, value reporting shall completely substitute financial reporting. The purpose of this thesis is to probe into the current practice and the trend of information disclosure. It uses the structure of ValueReporting proposed by PriceWaterhouseCooper（PwC）Education Foundation, which covers four aspects of performance indicators including, market profile, value strategy, value management, and value platform. Based on this structure, several items on performance indicators were established with detailed description in general and banking firms. A selected foreign bank and a selected domestic bank were used to compare the content of information disclosure under the framework of PwC ValueReporting. In addition, questionnaires are used to find out domestic managers and investors’ view of current trend of reporting practice. The results of the case study indicate that the information disclosure by the foreign bank is more consistent with the PwC ValueReporting structure than the domestic bank. The results of sample survey show that the current financial reporting does not meet the demand of information by investors. The survey also shows that though managers recognize the importance of disclosing information of business value drivers, they are reluctant to do so. In fact, there exist information gap, reporting gap, understanding gap, and perception gap between managers and investors.

A new economic order has developed that is referred to as the New Economy and has brought about a shift in focus from manufactured goods and services to an economy that places emphasis on knowledge and the application thereof within a specific context (Leung, 2002). Furthermore, this economy places emphasis on the saliency of information and how it can be used as a competitive and commercial tool. The New Economy is characterised by a unique consumer that functions within it called the New Consumer and this individual functions as a ubiquitous entity that is always on as this individual uses mobile devices that enables them to conduct business and communicate anywhere and at any time. The New Consumer is characterised by being individualistic, involved, independent and informed but also suffers from scarcities such as time, attention and trust. In view hereof, value has become a pivotal matter that all organisations should place emphasis on when delivering products and services to this consumer. Furthermore, Information and Communication Technologies (ICTs) has brought about a technological revolution in the New Economy and has changed the way in which the consumer works and conducts business. Mobile devices form an important component of the New Economy as it also offers organisations the opportunity to adopt new business models, using wireless technology, that enable mobile business (m-business) solutions. M-business refers to the purchasing of information, goods and services via a mobile device (Anon., 2000c) and organisations offering m-business in the New Economy are enabled to offer the advantages such as delivering just the right information, to just the right people at just the right time which means that convenient and personalised location-based information can be delivered to the individual. One industry that has adopted the m-business solution, as a value-added service, is the banking industry and various banks are offering the mobile financial solution to consumers meaning that they can access their accounts, pay their bills and make transfers using a mobile device. As many banks have adopted m-banking, as a value-added m-business offering, a credible source that elaborates on the implementation of m-banking and the industry requirements pertaining to the implementation process is Mobey Forum who has published the Mobey Forum White Paper (Anon., 2004p) that explains the implementation requirements of mobile financial services such as customer proposition, business priorities, technical issues and implementation issues. This study focuses on the industry requirements of m-banking, as set out by the Mobey Forum White Paper (Anon., 2004p). Absa, a South African bank, has been utilised as a one-shot case study todetermine how the industry requirements of mobile banking, as a value-added m-business offering, is implemented by the bank.
Ms. Andrea Crystal,

A Dissertation Report presented to the Witwatersrand Business School Witwatersrand University In fulfilment of the requirements for the Doctor of Philosophy Degree in Management June 2017
Impact investment is an innovative mechanism developed within the realm of development finance to intentionally create measurable positive impact beyond financial returns. It has become an instrument for South African banks to achieve their Financial Sector Charter goals of making a viable contribution towards economic growth, development, empowerment and reduction of inequalities and poverty in our society. South Africa is the largest market in Southern Africa for impact investment and the management dilemma faced by the South African Banking Sector as the financial intermediaries is how to account and measure the social value created by the impact investments? This study investigated the measurement practices of social value of impact investment and developed theoretical constructs on how the financial intermediaries measure social value. A multiple qualitative case study method utilising purposive sampling was employed. The sample included fourteen interviews that covered the South African Banking as financial intermediary (micro and macro perspective) and its value chain and the competitive landscape perspectives. The study had three sub-questions focusing on the conceptualisation of impact investment, the nature of the South African impact investment ecosystem and the nature of measurement of social value. Data was triangulated by integrating semi-structured interviews, field notes and secondary documents. The data analysis used Attride-Stirling’s thematic networks as an analytical tool to analyse the qualitative data. This consisted of three stages that covered six steps of analysis. The analysis used Excel software to navigate from the interview question, coding, labelling, definition of codes, issues discussed, theme identification, organising and global theme deduction, description of network, and the triangulation of data (respondents quotes, field notes and document text). The findings of the study developed three models, an impact investment conceptual model, impact investment ecosystem model for South African Banking Sector and the financial intermediary social value equation model that depicts the measurement ratios of hybrid returns of impact investment. The study recommends the seven emerging theoretical propositions as the backbone of measuring the innovative social finance. The emergent models’ theoretical propositions will ensure that practitioners use the models to measure and account for the SA Banking Sector’s social value creation and the models will influence the intellectual framing of those in academic and reflective practitioner domain. This study’s overall contribution was to create the foundation of a method and theory for measuring social value in anticipation and seeking to influence the types of managerial knowledge needed to deal with societal and organisational concerns in the fourth industrial revolution.
MT2017

M.Com.
Small, medium and micro enterprise (SMME) prioritization is a collaborative effort by both the government and the private sector. The SA government called for support through the 1995 White Paper on National Strategy for the Development and Promotion of Small Business. The recent establishment (May 2014) of the Ministry of Small Business Development reinforces the strategic role of SMMEs in the South African economy. The prominent role played by SMMEs cannot be overemphasized...

碩士
國立臺灣大學
會計學研究所
104
On February 24, 2014, the Executive Yuan of the Republic of China made an announcement about increasing the Non-value-added business tax rate of banking and insurance from 2% to 5%. This policy then formally proceeded to the Legislative Yuan for deliberation and examination. After around two-month legislative procedure, the Amendment of Value-added and Non-value-added Business Tax Act was proceeded directly to The Second Reading and passed on May 16, 2014. The Amendment was announced by the President Ma on June 4, 2014. This study uses event study methodology to examine the stock market reaction to the increase of the Non-value-added business tax rate from 2% to 5%. The paper also analyzes the cumulative abnormal returns (CAR) with the firm characteristics which could assist us to recognize what kinds of characteristics are significant in influencing the cumulative abnormal returns. In the sensitivity analysis, the study examined different “window” periods to further investigate how long the abnormal returns could last. By focusing on the periods these investors’ reaction could last in three event dates, this study found that a decreasing effect with the progress of our event from the first announcement date to the announcement by the president. The paper draws the following conclusions: (1) With event study, the paper had a supporting conclusion for our hypothesis one (Stock market reacts to the increase of business tax rate of the banking and insurance companies) on February 24, 2014 and May 16, 2014, but the result is non-significant on date June 4, 2014. (2) The greater influence on a firm’s EPS being expected, the greater the negative cumulative abnormal returns it has. (3) Through examining the CAR in different “window” periods, a decreasing effects with the progress of the event were found, signaling the possible reaction pattern to the event like bills or policies which take a long time in process.

by Choy Chung Shing.
Thesis (M.B.A.)--Chinese University of Hong Kong, 2000.
Includes bibliographical references (leaves 47-48).
ABSTRACT --- p.i
TABLE OF CONTENTS --- p.ii
HSBC - A BRIEF HISTORY --- p.1
HSBC IN ASIAN FINANCIAL CRISIS --- p.4
Asian On Fire --- p.5
Impact of Asian Financial Crisis on HSBC --- p.8
Re-engineering --- p.9
First Action ´ؤ Re-branding --- p.9
Second Action -Primary listing on NYSE --- p.10
Third Action -Acquisition --- p.11
STILL More Arrows in the Quiver ?? --- p.13
MANAGING FOR VALUE --- p.14
Corporate Strategy --- p.16
Brandname Management Strategy --- p.17
Expansion Strategy --- p.19
CHALLENGES ON HOMETOWNS --- p.21
Hongkong --- p.22
Expansion Opportunities --- p.25
Japan --- p.25
Britain and Europe --- p.28
Britain --- p.28
Continental Europe --- p.29
Beyond the hometowns --- p.32
North America --- p.33
Execution of Expansion Strategy --- p.34
SURVIVING THE ASIAN FINANCIAL CRISIS --- p.37
Aggressive Players --- p.37
Retreating Players --- p.39
MORE FRONTIER --- p.40
The Internet --- p.40
LESS THAN SURPRISE --- p.44
Final word --- p.45
BIBLOGRAPHY --- p.47

As Instituições Bancárias dependem, quase inteiramente, do bem-estar económico e da confiança da comunidade que servem, e estão inseridas num mercado altamente concorrencial, tornando-se mais premente a necessidade de saber o que os clientes mais valorizam. Tendo em consideração os acontecimentos económicos recentes, importa referir que durante o processo de expansão de uma economia em crescimento, as pessoas exigem cada vez maior quantidade e melhores serviços financeiros. Para que aconteça o desenvolvimento financeiro, é então necessário atender a estas exigências e expetativas, oferecendo sofisticação, quantidade e qualidade nos serviços prestados. Por conseguinte, o objetivo principal da presente dissertação centra-se na análise das perceções de Qualidade, de Equidade, de Valor, de Satisfação e de Confiança que os portugueses fazem acerca dos serviços no setor bancário português. De forma a concretizar a investigação foi aplicado um inquérito, no âmbito do qual se inquiriram 280 clientes de instituições bancárias. Os resultados revelaram que o construto com melhor avaliação foi a satisfação, e pelo contrário, o valor percebido é o construto que reúne as avaliações mais baixas. Para além dos resultados acima mencionados, foi também estudada a estrutura das relações entre os construtos, e concluiu-se que a equidade influencia positivamente a Qualidade, o Valor Percebido e a Satisfação. Adicionalmente o Valor Percebido é influenciado também pela qualidade, e ambos influenciam a Satisfação. Por fim, a Confiança é influenciada por todos os construtos, sendo a Satisfação a dimensão com menor impacto e o Valor Percebido apresenta-se como a dimensão com maior impacto na Confiança.
Banking Institutions depend almost entirely on the economic well-being and the trust of the community they serve and are embedded in a highly competitive market, making the need to know and valued customers more pressing. Taking into account recent economic developments, it should be noted that, in the process of expanding a growing economy, people are demanding more and better financial services. For financial development to occur, it is then necessary to meet these requirements and expectations, offering sophistication, quantity and quality in the services provided. Therefore, the main objective of this dissertation is centered in the analysis of the perceptions of Quality, Equity, Value, Satisfaction and Confidence that the Portuguese make about services in the Portuguese banking sector. In order to carry out the investigation, a survey was carried out in which 280 clients of banking institutions were surveyed. The results showed that the construct with the best evaluation was satisfaction and, on the contrary, perceived value was the construct that brings together the lowest evaluations. In addition to the aforementioned results, the structure of the relationship between the constructs was also studied, and it was concluded that equity positively influences Quality, Perceived Value and Satisfaction. Additionally, Perceived Value is also influenced by quality and both influence Satisfaction. Finally, Confidence is influenced by all constructs, Satisfaction being the dimension with the least impact and Perceived Value the dimension with the greatest impact on Confidence.

The thesis deals with the emergence of bank and non-bank entities that provide a range of unique transaction-based payment services broadly called Mobile Financial Services (MFS) to unbanked, underserved and underbanked persons via mobile phones. Models of MFS from Mobile Network Operators (MNOs), banks, combinations of MNOs and banks, and independent Mobile Financial Services Providers are covered. Provision by non-banks of ‘bank-type’ services via mobile phones has been termed ‘transformational banking’ versus the ‘additive banking’ services from banks. All involve the concept of ‘branchless banking’ whereby ‘cash-in/cash out’ services are provided through ‘agents.’ Funds for MFS payments may available through a Stored Value Product (SVP), particularly through a Stored Value Account SVP variant offered by MNOs where value is stored as a redeemable fiat- or mobile ‘airtime’-based Store of Value. The competitive, legal, technical and regulatory nature of non-bank versus bank MFS models is discussed, in particular the impact of banking, payments, money laundering, telecommunications, e-commerce and consumer protection laws. Whether funding mechanisms for SVPs may amount to deposit-taking such that entities could be engaged in the ‘business of banking’ is discussed. The continued use of ‘deposit’ as the traditional trigger for the ‘business of banking’ is investigated, alongside whether transaction and paymentcentric MFS rises to the ‘business of banking.’ An extensive evaluation of ‘money’ based on the Orthodox and Claim School economic theories is undertaken in relation to SVPs used in MFS, their legal associations and import, and whether they may be deemed ‘money’ in law. Consumer protection for MFS and payments generally through current statute, contract, and payment law and common law condictiones are found to be wanting. Possible regulatory arbitrage in relation to MFS in South African law is discussed. The legal and regulatory regimes in the European Union, Kenya and the United States of America are compared with South Africa. The need for a coordinated payments-specific law that has consumer protections, enables proportional risk-based licensing of new non-bank providers of MFS, and allows for a regulator for retail payments is recommended. The use of trust companies and trust accounts is recommended for protection of user funds. | vi
Public, Constitutional and International Law
LLD

v Abstract This thesis proposes a theoretical framework for application of ethics in banking and analyses effects of such application on financial performance of banks. A sentiments-adjusted economic motivation enables employment of ethical concepts, such as universality and humanity, in economics as well as banking. Then, using Bankscope data of more than 80,000 bank-year observations for the years 2003-2013, it is shown that banks applying ethics have higher exposure to real economy and less volatile Return on Equity. A consequent analysis revealed that in comparison with their closest peers those banks have lower profitability caused by higher relative costs that conversely result in lower loan losses. JEL Classification A13, B12, B16, G21, Q56 Keywords banking, ethics, economic motivation, Smith, self-interest, sentiments, Kant, sustainability, Bankscope, banking business models, within- between model, profitability, volatility, ethical, sustainable, values-based, social Length 115 862 characters Author's e-mail radek.halamka@gmail.com Supervisor's e-mail teply@fsv.cuni.cz