Dissertations / Theses: 'Investment bankers'

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Nuernberg, Carola. "Making sense of the organisation : being new and the use of metaphors among trainee investment bankers." Thesis, London School of Economics and Political Science (University of London), 2010. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.518773.

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This study explores how organisational newcomers use metaphorical concepts to understand themselves and their organisation. Particular attention is devoted to local and situated use of these concepts. The study also monitors changes in newcomers' understanding over time and the impact organisational socialisation practices have on newcomers. A comparative, interview-based, longitudinal study, narrative interviews took place over a one-year period with newcomers in different trainee programmes in three sub-units of a company. Additional data was collected on field trips and in participant observations. I employed a thematic analysis to examine the data for all three groups; a systematic metaphor analysis (Schmitt, 2005) to compare and contrast the experiences of newcomers in the Operations and Investment Banking units; and social representations theory (Jovchelovitch, 2007) to frame and interpret the findings. Findings: A) Newcomer experience is similar across all three groups in two respects: Firstly, most newcomers experience local organisational discontinuities; secondly, the organisation itself, although an important reference unit in many quantitative studies of newcomer socialisation and studies of organisational metaphors, is of little relevance to newcomers. The local group or the industry are more important. The organisation only becomes visible through its socialisation practices and meaning-making activities. B) The experience of being new develops significantly differently across organisational sub-units. Thematically, this generates different notions of control and different future hopes. Metaphorically, Operations and Investment Banking newcomers also make contrasting use of identical metaphorical concepts. For example, with 'collaboration' Operations newcomers use network images, emphasizing cooperation and connection; Investment Banking newcomers use fighting images, suggesting confrontation and threat. C) The Investment Banking newcomers' experience stands out as an all-encompassing experience, profoundly separating them from other areas of life and closely linking them to team practices and the industry.

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Petersson, Isabell, and Sebastian Johansson. "Redovisningens roll vid investerings- och beslutsfattande : En studie om hur redovisning, som utformas med Cost Constraint som förhållningssätt, kan påverka investerare och bankers investerings- och beslutsprocess." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-36238.

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Vi lever i en föränderlig värld där aktiemarknaden är en komplex miljö. Att fatta välgrundande beslut på aktiemarknaden är svårt för investerare, som därmed samlar in all den information som finns tillgänglig. Den redovisning och information som företag lämnar ifrån sig är utformad genom en avvägning mellan kostnader och nytta, som kallas Cost Constraint. Ytterligare en avvägning som företag använder sig av gällande upprättandet av redovisning är att inte ge ut för mycket information och därmed ”skydda” sig från konkurrenter. Studiens huvudsakliga syfte är att kartlägga och jämföra hur investerare och banker tar beslut baserat på den redovisning som företag publicerar, som kan vara påverkad av Cost Constraint. Vidare ämnar studien identifiera och beskriva de åtgärder som beslutsfattare tar för att skapa ett bättre beslutsunderlag. För att besvara studiens syfte och frågeställningar har vi använt oss av en deduktiv ansats och en kvalitativ forskningsstrategi. Urvalet till studien består av stora svenska företag, banker och investmentbolag samt privata investerare. Studien visar att begreppet Cost Constraint är okänt av aktörerna i studien men arbetssättet är väl känt. Studien är baserad på att kartlägga om avvägning gällande Cost Constraint påverkar de investerings- och beslutsprocesser som tas av investerare och banker. Studien visar att problematiken gällande avvägningarna som finns i företag är känt att investerare och banker. Resultatet från studien visar att dagens avvägningar inte påverkar investerare och banker negativt i deras investerings- och beslutsprocess, men respondenterna från de båda perspektiven påpekar vikten av att informationsskillnaden mellan företag och dess intressenter inte får bli för stor.
We live in a ever changing world where the stock market is a complex environment. To make informed decisions in the stock market is difficult for investors, and therefore they need to collect all available information. The accounting and information that companies relinquishes is formed by a balance between costs and benefits, which is called Cost Constraint. Another trade- off that companies use when they establish their accounting is to not give out too much information to " protect " themselves from competitors. The study's main purpose is to identify and compare how investors and banks take decisions based on the recognition that companies publish their accounting, which may be influenced by Cost Constraint. Furthermore, the study intends to identify and describe the actions that investors and bankers take to create a better basis for decisions. In order to answer the study's purpose and research questions, we used a deductive approach and a qualitative research approach. The sample for the study consists of large Swedish companies, banks and investment companies and private investors. The study shows that the concept of Cost Constraint is unknown by the participants in the study but the approach of Cost Constraint is well known. The study is based on mapping Cost Constraint and its affects on the investment and decision, taken by investors and banks. The study shows that the problem regarding the trade- offs performed by the companies, is known to investors and banks. Results from the study show that today's trade- offs will not affect investors and banks negatively in their investment process and decision making. The participants in the study point out the iv importance of the difference in information between the company and its stakeholders must not be to large.

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Holmes, Zamanian Crystal, and Lisa Åström. "Banks' Social Capital Investment : Qualitative Insights from Sweden." Thesis, Umeå universitet, Företagsekonomi, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-90932.

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Having recognized the merits of social capital research within other study areas, the authors of this degree project take a look at this concept from a relatively untouched perspective, banks. Social capital has long been a staple in both political science as well as sociology discourse. In recent history, the principles of social capital theory, which entail deriving benefits from building and nurturing social relationships, have been applied to a limited number of organizational contexts. The banking industry is one such organizational context that has remained relatively untouched by the extant body of research on the concept. Given the implied fixation of banks on more so financial capital than social capital, the authors of this degree project found this perspective to be a potentially interesting area of research. Social capital’s strong emphasis on trust also made the bank context appealing as the current climate within the financial services industry is that of widespread distrust, from the outside world, as a result of the financ ia l crisis of 2007 to 2009. As a consequence, the following research question emerged: how do banks invest in social capital? The purpose of this study has thus been to gain insight s into how social capital is invested in by banks, through their network reach, from these banks’ own perspectives, using a qualitative research method. In order to do so, the authors delved into the body of research on social capital and accounted for relevant elements therein, thereby laying the theoretical foundation for an exploratory study. Amongst other elements, this study features a tri- dimensional view of social capital, which has constituted one of the bases upon which banks’ practical approach to the phenomenon have been analyze. This study, which gives credence to a subjective view of reality, provides insights into the social capital investment activities of eight Swedish banks. Furthermore, this study, which depicts sampled banks’ situation in the spring of 2014, analyzes each organization individually based on data derived from semi- struct ured interviews, while making on inferences rooted in theory. What has been found is that banks do not seem to engage in the investment of social capital to the degree that is typical for the concept. Rather, banks have been observed to prefer more superficial, or weak, ties to other parties, more so than strong ones. Furthermore, this study uncovers the lack of bonding among bank members and their ability to attain social capital assets without, in actual fact, needing to invest in deep - seated relationships. Moreover, the completio n of this study calls for inquisitions into other low trust industries, amongst other future research area suggestions. Implications for both the practical and academic worlds are also provided, there among this study's contribution to banking industry constituents in the form of a look into the current techniques used to build relationships by their banking counterparts.

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Jia, Ning. "Security analyst behavior and the association with pre-ipo equity investments and under writing by investment banks /." May be available electronically:, 2007. http://proquest.umi.com/login?COPT=REJTPTU1MTUmSU5UPTAmVkVSPTI=&clientId=12498.

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Morkvėnas, Deividas. "Komercinių bankų investicinės politikos formavimas." Master's thesis, Lithuanian Academic Libraries Network (LABT), 2006. http://vddb.library.lt/obj/LT-eLABa-0001:E.02~2006~D_20060921_133840-21876.

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According to Lithuanian and foreign authors’ scientific literature, Master’s work explores the main aspects of investment policy formation: stages of investment policy formation, investment strategies and methods of their selection, also analyzes the process of investment efficiency evaluating and main models of investment efficiency evaluating. The main features of investment policy formatting, evaluated efficiency of commercial banks “Hansabankas”, “Vilniaus bankas”, “Sampo bankas” are presented in the exploratory-analytic part of this paper. There was made a survey of “Hansabankas” clients’ attitude to offering services in investment funds field in this final work. Also this paper shows the investment trends perspective evaluating and the development trends of investment policy of commercial banks.

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Binsaif, Ahmed Abdulaziz O. "Investment banks' business model innovation : evidence from Saudi Arabia." Thesis, University of Exeter, 2017. http://hdl.handle.net/10871/33018.

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The Investment bank industry is considered to be an essential element of not only the financial system but also the whole economy. Understanding multiple business models employed by multi-services industry such Investment bank is a matter of great significance for Investment banks’ executives, regulators and analysts. In 2008 the business model that had been employed by investment banks for almost two decades vanished due to the global financial crisis. Investment banks were forced to change and innovate their traditional business models. This research intends to develop a conceptual framework which helps to realize and study investment banks’ business models with the core components and related activities. Multiple business models mapping for investment banks is developed to give seniors executives core and possible activities and alternatives to innovate and change various business models for different lines including asset management, brokerage, investment banking and custody services. In addition, the business model (innovation) drivers are investigated to empirically explore the most powerful drivers on investment banks’ multiple business models (innovation), potential changes and degree of alteration on its activities for each business line. For these aims, a systematic literature review was carried to synthesise the recent advancements in the business model literature and explore how firms approach business model innovation. As result, a conceptual framework for business model (innovation) was developed, which encompasses four components value proposition, operational value, human capital and financial value. This framework can be utilized by practitioners as a 'navigation map' to determine where and how to change their business models. By using the qualitative methodology through semi-structured interviews with 29 senior executives from 10 fully-licensed investment banks in Saudi Arabia and secondary data including financial statements, annual reports and pillar III disclosures, the empirical study mapped the investment banks’ multiple business models and identified a business model for each business line. Sixteen activities for each business line were determined to provide core and possible activities and alternatives. This research contributes to our understating of managing and innovating multiple business models in the industry when investment banks should run these multiple business models. The Investment banks’ business models are different in terms of business lines, core offerings, clients, key assets, key process, revenue streams and costs structure. Over and above, each line shows diverse business models applied by investment banks. Furthermore, unlike other studies, this research contributed by investigating drivers that force investment banks to change their existing business models, the degree of changes and which activities did investment banks consider when responding to particular drivers. This study found that clients, crisis and economic changes, rivalry, top management and regulations are the five drivers forcing investment banks to not only embark on change events, but also carry out business model changes in most investment banks’ business lines.

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Kosek, Jiří. "Analysis of investment products of domestic and foreign banks." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-192610.

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The objective of this thesis is to show different types of investment opportunities that a small investor has on a standard banking market. Subsequently they are analyzed from both theoretical and practical aspects. The reader will be able to see pros and cons of e.g. traditional saving products, mutual funds and many others. Services will be among other assessed from an international perspective. The main intention of this analysis is to find such financial products, to which a small investor has access and that can be recommended as a meaningful investment.

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Ursacki, Terry. "Foreign direct investment in the Japanese and Korean banking sectors." Thesis, University of British Columbia, 1990. http://hdl.handle.net/2429/32180.

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Foreign direct investment (FDI) in banking (i.e., the establishment of branches, representative offices, agencies, subsidiaries, or affiliates abroad) is one of the key features of the international monetary system, yet it has received relatively little attention, particularly from empirical researchers. This thesis first reviews the existing work on FDI in banking, and then proposes a theoretical framework for understanding the sources of competitive advantage which lead to multinational banking. This framework integrates earlier work on the theory of financial intermediation with Durming's eclectic theory of FDI. Sources of competitive advantage (Dunning's "ownership-specific advantages") are found to lie in the areas of transaction cost reduction, asset transformation, information production, monitoring, and signalling. Empirical proxies for these variables are then identified. The importance of these variables is then tested using data on foreign banks operating in Japan and Korea. The first test uses survival time analysis (Cox proportional hazards model) to identify the factors associated with early entry into these markets after they were opened to foreign banks. The second uses multinomial logit analysis to examine the factors distinguishing banks which have established a branch or representative office in Japan and Korea from those that have not. The results of the two models are consistent for the most part and are generally in accordance with the predictions of the theory. The final part of the thesis explores the reasons for the strategic choices of the foreign banks in these markets and their relative success in implementing them. A cluster analysis reveals the presence of strategic groups in each market whose membership is broadly consistent with the types of advantages they have, as revealed by a review of the trade press. The most profitable foreign banks are found to be those that pursue niches with high barriers to entry, usually due to a natural advantage such as nationality. Implications for further research are then discussed.
Business, Sauder School of
Graduate

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Annink, Marit. "Investment Banks in Sweden : Careers in a gendered organization culture." Thesis, KTH, Industriell ekonomi och organisation (Inst.), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-300172.

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Gender equality is a much-debated topic today with e.g., EU putting pressure on the labour market through Sustainable Financial Disclosure Regulations (SFDR) and the UN through their Sustainable Development Goals (SDG). However, gender equality is not a simple matter of only distributions and setting goals; it also refers to attitudes, norms, values, and ideals that affect the lives of women and men in society. Currently the labour market is implementing policies and taking initiatives for increased diversity however, women are still lagging behind men and women’s hierarchical advancement is experiencing a slowing trend. One industry with a strong male dominance is the investment banking industry, an industry that has been struggling to increase the gender split. Multiple attempts have been taken to recruit more women, but the industry struggles with retention rates and is still a heavily male-dominated sector. To be able to know which policies to implement it is important to understand how the organization is gendered and to understand its willingness to change. What happens within organizations can also be seen in society, politics, and media. Research on gendered organizations provide visibility and nuance on how gender is created by society. This research has studied how the industry investment banking is gendered and the perspective on change. The study has been conducted through a qualitive method using structural interviews with guidance of Sarah Rutherford’s model on excluding factors. The interviewees were employees on a junior level in the hierarchy, at different investment banks in Sweden. The study shows an industry with multiple cultural aspects that can work as excluding towards women; the long-hour culture, language & communication, work ideology and gender awareness. The study found both a denial and unawareness of the existing gendered process. The junior team themselves were a mix of different resistors: open, hidden and neutral. There was also a strong belief that the inequalities would fade over time and that they were heavily dependent on the gender split rather than the terms and conditions at the workplace.
Jämställdhet är idag ett omtalat ämne som engagerar samhällen på alla nivåer, Eu med sin Sustainable Finance Regulation (SFDR) som ämnar sätta press på arbetsmarknaden och FN med deras Sustainable Development Goals (SDG), är bara några exempel på samtida engagemang. Jämställdhet är dock inte så enkelt att det kan reduceras till betraktandet av distributioner och målsättning; det refererar också till attityder, normer, värderingar och ideal som påverkar kvinnor och mäns liv i många delar av samhället. Arbetsmarknaden arbetar aktivt med att implementera policys och ta initiativ för att uppnå jämställdhet. Det pågående arbetet till trots kan vi dessvärre se en negativ och avtagande trend vad gäller kvinnors avancemang i professionella hierarkier och fortsatt hamnar steget efter män i dessa miljöer. En av många mansdominerande branscher är investment banking, en bransch som länge kämpat med en ojämn könsfördelning. Flera försök till att rekrytera kvinnor till branschen har gjorts men dessvärre utan önskat långsiktigt resultat då man bland annat har problem att behålla kvinnorna. För att förstå vilka policyer som ska implementeras är det viktigt att förstå hur en organisation är könsmärkt och dess vilja till förändring. Det som sker i organisationer kan också identifieras i samhället, politiken och media. Forskning på könsmärkta organisationer ger insyn och nyansering till hur kön är skapat i samhället. Denna studie har undersökt hur investment bankindustrin är könsmärkt och hur den ser på förändring. Studien har genomförts med kvalitativa metoder där strukturella intervjuer med Sarah Rutherfords modell om exkludering utgör studiens grund. De valda intervjurespondenterna befinner sig på en junior nivå i branschens hierarkisystem och är eller har varit representerade på olika investmentbanker i Sverige. Studien visar en bransch med flera kulturella aspekter som resulterar i exkludering av kvinnor, dessa var; arbetstider, språk & kommunikation, arbetsideologi och könsmedvetenhet. Vidare påvisar studien en existerande förnekelse och omedvetenhet av den könsmärkta organisationen, där respondenterna visade sig vara en blandning av den öppne, dolda och neutrale jämställdhetsmotståndaren. Det fanns också en stark tro på att en utveckling mot jämställdhet sker av sig själv då problematiken upplevdes vara såväl en generations- som en distributionsfråga och inte en fråga om olika villkor och förutsättningar på arbetsplatsen.

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Rumokoy, Lawren J. "Essays on The Role of Network Centrality in The Australian IPO Market." Thesis, Griffith University, 2021. http://hdl.handle.net/10072/404156.

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Modern financial systems are highly interconnected. Institutions or individuals form connections with each other in different ways for different purposes. Networks, broadly understood as a collection of nodes and connections between nodes, can therefore be a useful representation of financial systems. Using social network analysis (SNA), this thesis provides novel empirical evidence on the effects of network centrality, which refers to an actor’s position and level of connectedness in a network, on Australian initial public offering (IPO) firms that went public between 2001 and 2017. The thesis includes three essays that aim to examine: (1) the relationship between investment bank networks and the accuracy of IPO prospectus earnings forecasts, (2) the overinvestment problem associated with excess cash in seasoned versus newly public firms, and whether investment bank networks affect the performance of IPO firms with excess cash, and lastly, (3) the relationships between board networks, cash holdings, and IPO firms’ performance. The first empirical essay investigates whether investment banks with more central network positions could improve earnings forecast accuracy in the context of Australian IPOs issued during the 2001-2017 period. Using SNA to construct investment bank network centrality, I show that IPOs backed by more central investment banks tend to have higher absolute offer price revision, exhibit greater forecast accuracy, and are associated with more pessimistic forecasts. Taken together, the results support the idea that, relative to their counterparts that are peripheral in the network, more central investment banks may produce more information in the IPO process and certify the quality of IPO issuers by encouraging more conservative and accurate earnings forecasts. This study makes an important contribution by adding to the burgeoning literature on network studies in the context of IPO investment banking. To the best of my knowledge, this study is the first to examine the relation between investment bank networks and earnings forecast accuracy, particularly in a setting where forecast disclosure is a voluntary and reasonably common practice (such as that of Australia). This study also has significant implications for key participants in the Australian IPO market. For investment banks, working in syndicates when managing an IPO is essential not only for risk-sharing purposes but also to gain knowledge and experience that enhance their certification ability. For issuers, hiring more central investment banks may help them prepare more accurate forecasts and to avoid increased exposure to costly litigation risks. As for potential investors, the presence of more central investment banks in an IPO could provide some assurance of the issuer’s forecast accuracy, which is useful for investment decision-making. The second empirical essay analyses the overinvestment problem associated with excess cash holdings in ASX-listed firms for the period between 2001 and 2017. First, I show that firms with higher excess cash are associated with higher capital expenditures and lower firm performance, indicating that cash-rich firms tend to invest their excess cash in less-profitable projects. I find that this overinvestment problem is more pronounced among newly public firms that have undergone an IPO within the prior three years. Next, I test whether investment bank networks could reduce this overinvestment problem. I find that IPOs with excess cash managed by more central investment banks experience lower capital expenditures but higher firm performance. The evidence shows that investment banks benefit from being well connected in the network; hence, the banks can better monitor and advise the IPO firms, constraining managerial opportunism regarding the use of excess cash. This study contributes to the literature as the first study that brings together two streams of research which have not overlapped—that is, the literature on excess cash holdings and the role of investment banks in IPOs. Connecting the two research streams gives new insights into the largely unexplored area of excess cash in IPO firms, and further our understanding of investment bank monitoring and advising roles in the post-IPO period. Finally, the third empirical essay examines how board networks formed by interlocking directors impact the use of cash in Australian IPO firms. I find that well-connected boards tend to reduce their firms’ cash holdings. Further, high-cash firms with well-connected boards often underperform, which is indicative of their suboptimal investment decisions. As excess cash accumulates, firms with well-connected boards prefer to spend cash on capital expenditures rather than returning it to shareholders through dividends. In light of two competing views on connected directors—i.e. the reputation hypothesis and the busyness hypothesis—the findings are closer to the latter. This study represents the first attempt in the literature to address the impact of board networks on cash holdings in IPO firms. The evidence presented in this study adds to the ongoing debate regarding the benefits versus the drawbacks of board networks, casting new light that IPO firms with more connected directors are associated with less efficient use of cash. In the absence of regulation, the evidence may lead us to call for policies that limit board networks in Australia. Nonetheless, it is worth acknowledging that prescribing the appropriate numerical limit for multiple directorships is challenging for regulators since firms’ sizes and the complexity of the issues their boards face vary widely from one firm to another.
Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
Dept Account,Finance & Econ
Griffith Business School
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Vick, Sondra Kay. "Investment centers that are feasible in a credit union." CSUSB ScholarWorks, 2000. https://scholarworks.lib.csusb.edu/etd-project/1758.

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This project will identify the options available to a credit union desiring to open an office of the securities industry to provide investment products and advisory services to its member. The three options identified are becoming a branch office of an established broker/dealer, becoming an introducing broker/dealer, or purchasing an existing broker/dealer. An analysis will identify the required needs of an account executive in a computer system, client statements, and client confirmations. It will also analysis the capital requirements, the expenses of opening and running an office, fees charged to clients, and the licenses required. This project will show that any of these three options are feasible for a credit union but which option is chosen will be determined by the size and capital of the credit union undertaking this business venture.

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Mapororo, Beauty. "The determinants of capital structure and internal factors that influence the performance of commercial banks in Botswana." Master's thesis, University of Cape Town, 2018. http://hdl.handle.net/11427/29732.

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The main objectives of the study are to empirically explore the determinants of capital structure for commercial banks in Botswana and to determine the internal factors that influence the performance of the banks. A study on what determines capital structure for banks and the factors that influence performance has never been done for Botswana, thus the study aims to add on to the existing literature. Quantitative approach, mainly multiple regression models and descriptive statistics, are used to find the relationship among the independent and dependent variables based on the five years data for the period 2012 to 2016. The dependent variables are the total leverage, short-term, and long-term leverage and the performance measure is the Return on Assets. The empirical results conclude that in accordance with the pecking order theory and the finance literature, debt has an overall negative relationship with banks performance, and the bigger the bank the less debt is employed. Further, this study proves efficiency theory for Botswana banks. That is the relationship between capital adequacy and liquidity with return on assets did not provide statistically-significant results. It is hoped that the results of the study will assist managers on employing the right balance of debt and equity to achieve desired performance.

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Satchithananthan, Mathan. "The role of intermediation in the business cycle." Thesis, University of Oxford, 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.326965.

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Лєонов, Сергій Вячеславович, Сергей Вячеславович Леонов, and Serhii Viacheslavovych Lieonov. "Система факторів формування інвестиційного потенціалу банку." Thesis, Українська академія банківської справи Національного банку України, 2009. http://essuir.sumdu.edu.ua/handle/123456789/59795.

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В умовах кризових явищ, що мають місце останнім часом у вітчизняній банківській системі, проблема пошуку ефективних механізмів підвищення стійкості ресурсної бази й нарощування інвестиційного потенціалу банків набуває особливої актуальності.

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Lewis, Melissa F. "Assessing earnings quality at the IPO the role of reputable investment banks /." [Bloomington, Ind.] : Indiana University, 2007. http://gateway.proquest.com/openurl?url_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:dissertation&res_dat=xri:pqdiss&rft_dat=xri:pqdiss:3278251.

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Thesis (Ph.D.)--Indiana University, Kelley School of Business, 2007.
Source: Dissertation Abstracts International, Volume: 68-09, Section: A, page: 3935. Adviser: M. Daniel Beneish. Title from dissertation home page (viewed May 8, 2008).

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Alhammadi, S. "Corporate governance dilemma with unrestricted profit sharing investment accounts in Islamic banks." Thesis, University of Reading, 2016. http://centaur.reading.ac.uk/68415/.

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The aim of this research is to focus on a key issue in Islamic finance, i.e. the corporate governance (CG) of Islamic banks, which arises because of the way they raise deposits using profit-sharing contracts. More specifically, the research addresses some key CG issues relating to unrestricted investment account holders (UIAHs) as major stakeholders, comparing their status, as a type of equity investor, to that of shareholders. In fact, UIAHs do not have any governance rights (other than the right to withdraw their funds) and there is a lack of transparency in banks’ dealings with them. The research reviews the relationship of UIAHs with the Islamic banks (IBs), since UIAHs as savers or depositors are likely to have different risk-return preferences compared to shareholders, and in particular to be more risk-averse. This research shows that this lack of governance rights and transparency leads not only to unfair treatment in a significant number of cases, but also to ambiguity regarding their status and rights. A comparative analysis of the rates of return received by shareholders and UIAHs was carried out using the coefficients of variation (CV) as a measure of risk-adjusted rates of return, to test whether current CG practice in IBs shows fairness of treatment to UIAHs in terms of risk-adjusted returns. Both UIAHs and shareholders face the same investment risk in the asset pool held by an Islamic bank in which their funds are invested, whereby banks utilise these funds to finance their operations. The results showed not only that there was a difference in rates of return, since on average shareholders received far higher rates of return than UIAHs with comparable levels of variation, but also that more than 32% of the UIAHs had a higher CV of rates of return than shareholders, which indicates that on a risk adjusted basis the UIAHs in these banks had lower rates of return for the same level of risk. An empirical study was conducted using a panel data model to test certain relevant and well-established CG variables that might have influenced the difference in rates of return. Again, the results showed a bleak picture for the UIAHs in many of the banks. The panel data analysis focused on the profit sharing and revealed that the main driver, which seems to have great explanatory power, is the size of the return on assets (ROA). It seems important to look at other aspects besides the sharing of the accounting profit, especially in the light of the interview with Kuwait Finance House (KFH-Kuwait) management, by further investigating the UIAHs’ issue of fair treatment. This was done in the first place through conducting a mixed methods approach that involves a two-phase project called explanatory sequential design. The focus was the behaviour of the stock market: the amount of value for shareholders that could be attached to retained earnings as suggested by the Gordon growth model. However, the value of retained earnings to shareholders depends on such earnings flowing through into share prices, but, given the lack of market efficiency in the Gulf Cooperation Council (GCC) stock markets, it is not possible to base a significant conclusion on the behaviour of share prices. In addition, because of the 2008 financial crisis and its effects in the following years, any share price benefit to shareholders from retained earnings was effectively wiped out. These results led to another look at the difference in rates of return between the shareholders and the UIAHs, emphasising the dividend yield against UIAHs’ yield, which are similar in that both are based on cash payments. For a sample of 20 IBs, the result was that the mean dividend yield was 83 basis points higher than the rate of return of payouts to UIAHs. It was also found that in one third of the cases the CV of the rates of returns paid out to UIAHs was higher than that of the dividend yields. The issue of whether such a difference of 83 basis points is justified (for example, as a return for the bank as asset manager) is not easy to resolve because of the lack of transparency which makes it virtually impossible for UIAHsto make that judgement for themselves; in addition, this was the mean for the entire sample, not the difference for any individual bank. By contrast, the fact that the CVs of the rates of return paid to UIAHs were higher than the CVs of the dividend yields for a significant proportion of IBs in the sample is clearly indicative of a lack of fairness and raises an important CG issue with respect to such banks.

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Neupane, S. "Conflicts of interest in IPOs: case of investment banks - a systematic review." Thesis, Cranfield University, 2008. http://dspace.lib.cranfield.ac.uk/handle/1826/12486.

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Since the burst of the internet bubble there is a great deal of interest in the way investment bank prices and allocates initial public offerings (IPOs). The additional scrutiny and spotlight is also because of the dominance of bookbuilding mechanism, which gives complete discretion in terms of allocation and pricing to underwriters, and the huge amount of money left on the table by the issuers, especially during the internet bubble period. Numerous press stories and law suit by investors and issuers alleged conflicts of interest by investment banks at the expense of issuers and investors. On the basis of scoping study we identified five areas to examine conflicts of interest: laddering, spinning, relationship banking, profit sharing allocation and allocation to affiliated funds. The findings of the systematic review show that very limited research has been done on the areas identified. Moreover, there is almost no evidence available to examine the behaviour of investment banks post internet bubble burst. Likewise, very limited evidence is available from countries other than United States. From whatever limited research has been done in these areas there does seem to be enough evidence to suggest that investment banks have been involved in activities that is in conflict with their responsibilities and duties. There is clear evidence of wrong doing by investment banks in US during the internet bubble period by being involved in spinning, laddering and profit sharing allocations. There is not much evidence available at the moment to charge the underwriters of exploiting issuers and investors through the use of affiliated banks, venture capitalists and mutual funds. There is a great need to examine the behaviour of investment banks not only for the sake of the stability of the financial markets but also for the financial intermediaries themselves as unnecessary regulations undermine the efficient operations of financial markets.

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Lee, Cheulho. "The timing of initial public offerings and the role of investment banks." Diss., This resource online, 1996. http://scholar.lib.vt.edu/theses/available/etd-06062008-152036/.

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Kirikkaleli, Dervis. "Foreign direct investment in the banking sector : empirical evidence from Turkey." Thesis, University of Stirling, 2013. http://hdl.handle.net/1893/19308.

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Multinational bank activities have gradually risen in developing countries since the beginning of the globalisation process. Rising foreign bank activities in developing countries have motivated researchers to investigate foreign banks, comprehensively. Turkey is a typical example of a developing country that achieved a tremendous growth rate in foreign bank asset, especially throughout the last decade. The aim of this thesis is to examine two-way linkage; (1) between foreign bank penetration (FBP) and banking variables; (2) between FBP and country risk and (3) between FBP, foreign direct investment (FDI) and foreign portfolio investment (FPI) in Turkey. Therefore, this thesis is constructed by three empirical sections. Moreover the pattern of FDI inflow and outflow in the world and in Turkey has been analysed, chronologically. In addition, the theory of FDI is taken into account and existing FDI theories has been criticised. In the first empirical work – Chapter 3 - the short run and long run relationship, if it exits, between FBP and determinants of bank performance (namely, domestic bank assets, domestic credit and banking profitability) in Turkey was investigated after controlling DGDP and 2001 financial crisis (DUM2001). The outcome of the Granger causality test indicates that there was unilateral causality which runs from DDB to DFBP . Moreover, I also found feedback causality between DFBP and DCREDIT . By employing impulse response functions, I found that there is positive relationship between DFBP and DCREDIT as I expected. Moreover, the response of DFBP to one standard deviation shock in domestic bank assets is initially statistically significant and positive. The reverse effect is statistically significant and positive. In the final model, the response of DFBP to one standard deviation shock in profitability (PRO) is significant and positive at 3rd quarter. The reverse effect is surprisingly positive but not statistically significant. Specifically, what has not been also investigated deeply in the empirical literature is the two-way linkage between foreign bank penetration and risk such as political, financial and economic. Thus, in chapter 4, linkage between FBP and country risk (namely, political risk, economic risk and financial risk) was examined in Turkey using quarterly data from 1994Q1 to 2009Q4. My finding indicated that I found one error correction term significant and positive in bivariate vector error correction in model 1 and 2, implying that in the long run, foreign bank penetration has contributed to economic and political risk. Moreover, short run causality based on VAR approach between DFBP and financial risk is investigated but I failed to find any significant causality in the VAR model after controlling DGDP and 2001 financial crisis, even at the 10% level. By analysing impulse response functions, I could not detect any significant relationship between DFBP and host country risk variables in the short run. This is because adding control variables (DGDP and DUM2001) make the relationship between host country risk variables and DFBP statistically insignificant. Finally, I investigated two-way linkage between FBP, FPI and FDI in Turkey after controlling DGDP and 2001 financial crisis. The finding from the VAR based block exogeneity wald test indicated that changes in DFBP significantly lead to changes in DFDI and there is also unilateral causality which runs from FPI to DFBP. Moreover, using the variance decomposition technique I found that DFDI and FPI have little explanatory power for the evolution of DFBP in Turkey. The contribution of DFBP to the variability of DFDI is more than that of FPI. The contribution of DFDI to FPI variability ranges between 0.000% and 9.122% throughout 12 quarter periods whilst the contribution of DFBP to FPI variability ranges between 0.000% and 7.611%.

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Sathitsuksanoh, Noppadon Thompson Henry L. "Recent portfolio investment and central bank policy in Thailand." Auburn, Ala, 2008. http://hdl.handle.net/10415/1504.

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Лєонов, Сергій Вячеславович, Сергей Вячеславович Леонов, and Serhii Viacheslavovych Lieonov. "Проблеми визначення інвестиційного потенціалу банків." Thesis, Українська академія банківської справи Національного банку України, 2007. http://essuir.sumdu.edu.ua/handle/123456789/59480.

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Лєонов, Сергій Вячеславович, Сергей Вячеславович Леонов, and Serhii Viacheslavovych Lieonov. "Сучасні проблеми використання інвестиційного потенціалу банків для фінансування реального сектора економіки України." Thesis, Тернопільський національний економічний університет, 2008. http://essuir.sumdu.edu.ua/handle/123456789/59731.

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Висвітлюються сучасні проблеми використання інвестиційного потенціалу банків для фінансування реального сектора економіки України.
The problems of using the investment potential of banks to finance the real sector of the Ukrainian economy are covered.

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Лєонов, Сергій Вячеславович, Сергей Вячеславович Леонов, and Serhii Viacheslavovych Lieonov. "Функції банків на ринку інвестування." Thesis, Education and Scienc, 2008. http://essuir.sumdu.edu.ua/handle/123456789/60135.

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В економічній літературі існує цілий ряд діаметрально протилежних п о- глядів на те, яке місце з аймають банки в процесі кругообігу інвес тиційних р е- сурсів в економіці, о днак найбільш поширеною є думка, що банку відв о диться суто посередницька функція в цьому процесі .

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Lopez, Rojas Jose. "An Analysis of Investments by Multilateral Development Banks in Central America." ScholarWorks, 2016. https://scholarworks.waldenu.edu/dissertations/2844.

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Multilateral development banks (MDBs) are under increased pressure to justify their allocation of donor resources. These funds help produce growth in developing regions such as Central America (CA), where wealth inequality limits individuals' access to basic services and increases the prevalence of crime and corruption. MDB leaders are not always confident the allocation of limited resources creates optimal value. The capital asset price model (CAPM) was the theoretical framework of this correlational study. Archival data consisting of annual reports and audited financial statements were used to draw a sample (N = 66) of USD $4.857-asset valued loans made by MDBs between 1995-2013 in 7 CA countries. Regression analysis was used to determine the significance of relationships between the independent variables including the risk-free rate of return (Rf), volatility of a project (Î²p), and expected return on the market (Rm) and the dependent variable, the expected return (rp) used by MDBs. No evidence of a statistically significant relationship between the expected return of individual loans (adjusted for risk-free rate, volatility, and market return) and the expected return used by MDBs was found using correlational analysis. Findings from multiple regression analysis indicated that the expected return used by MDBs underperforms risk-adjusted market expectations. Study findings may help MDB leaders to promote business development and social welfare in CA through private investments, which may result in positive social change.

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Sealy, Ruth. "A Qualitative Examination of the Importance of Female Role Models in Investment Banks." Thesis, Cranfield University, 2009. http://hdl.handle.net/1826/4092.

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A number of practitioner surveys across a range of industries have cited the lack of senior female role models as a barrier to career progression. There is very little academic literature to explain this at a senior organizational level. An initial review of the extant role model literature led to the inclusion of two further related areas – organizational demographics, as a contextual factor affecting the availability of role models, and work identity development as a link between the lack of senior female role models and the lack of career progression. In seeking to answer the question of why and then how female role models are important for senior women, this study fills an identified gap in the comprehension of the concept of role models and their importance in the workplace. It addresses a need to understand both the key elements of the concept and the mechanism by which they come into play. The research uses qualitative methods, specifically in-depth semi-structured interviews. These were conducted with a senior group of 33 female directors from six global investment banks, in order to elicit their experiences of role models in demographically imbalanced work contexts. Analysis of interview data considered all three areas of role models, demographic context and work identity development. As the women forged their identities in the male-dominated context of global investment banks, what became clear was that who they are and have become was informed by the critical relationships they have had. Whilst clearly some of the women had found male role models with whom to develop these critical relationships, there were some identity issues, particular salient to women, which could not be addressed by men. Thus the findings demonstrated the utility of female role models. This thesis has a number of contributions to make on varying levels: On a conceptual level, this study adds to our understanding of the value of role models, particularly detailing the affective or symbolic value. It has added to the conceptualization of role models, detailing what were the core attributes of individuals chosen to be role models, who they were in relation to the women, how the women used them and why they were important. It has combined the three literature areas of role models, organizational demographics and work identity development in a way not previously done, and has shown empirically that they are related and explain each other. Organizational demographics affect the availability of role models. And it is suggested that the relatively new theory of relational identification is the mechanism that explicates how the presence of positive female role models is a key influence on women’s work identity development. It has clarified the value of role models in extreme gender demographic contexts, and how and why they are important to senior women’s professional development, thereby adding to the theory of role modelling. Practically, the study explains why women in surveys may have been citing the lack of female role models as such a prominent issue, and suggests what some of the issues are that organizations should pay heed to in trying to address this.

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Pavlidis, Panayiotis M. "Marketing's role in successful new product development in commercial, investment and merchant banks." Thesis, City University London, 1993. http://openaccess.city.ac.uk/8378/.

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This thesis investigates marketing's role in new product development (NPD) in commercial, investment and merchant banks. It examines how marketing inputs contribute to new product development success. NPD success can be measured at two levels of analysis - at the program and at the project level. Our study is concentrated at the program level at which sustained product development success is examined, rather than one-off project success. Successful product developers are identified as those banks with a better record of being first to market with new products. This measure of product development success is important in the financial risk management market in which commercial, investment and merchant banks compete fiercely. Based on peer evaluation seventeen banks were identified as innovative, that is to say; active new product developers in the financial risk management market from a universe of almost 130 U.K. and foreign banks with established operations in London. From these seventeen eight participated in our research study. Data was collected in two stages. First, personal interviews were conducted with the heads of the treasury divisions or the heads of derivates desks to collect background information for control purposes. Second, detailed questionnaires were administered to two further members of each bank who were involved with the development of financial risk management products. The questionnaires consisted of statements for which respondents were invited to indicate agreement or disagreement on 5-point Likert type scales. Our findings show that it is not the trappings but the quality of marketing inputs that contribute to program success. Quality of marketing inputs comprises the quality of approach adopted and the quality of execution. The most important finding is that successful product developers adopt higher quality marketing than do less successful product developers. Successful product developers place great emphasis on getting both their approach and their execution right. It was found that successful product developers adopt a market-based approach in identifying new opportunities. They not only adopt a strategy which selects markets on the basis of benefits sought (instead of determining strategy on the basis of primarily internal strengths), but they also use internal marketing to promote this cause. Further, successful product developers possess the appropriate implementation skills to exploit selected opportunities. While we cannot claim that program success will be guaranteed from a market-based approach, our evidence lends strong support that absence of a market-based approach is likely to lead to considerably lesser success in the type of product development investigated in this research study.

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Hoyme, David, and Joseph Farias-Eisner. "Turning around investment banks during the financial crisis : surviving apart from government bailouts." Thesis, Massachusetts Institute of Technology, 2015. http://hdl.handle.net/1721.1/99047.

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Thesis: M.B.A., Massachusetts Institute of Technology, Sloan School of Management, 2015.
Cataloged from PDF version of thesis.
Includes bibliographical references.
The principal topic of this paper addresses optimal turnaround strategies that businesses employ to reengineer value during times of financial distress. The scope of the paper focuses on investment banks during the financial crisis, which, according to the National Bureau of Economic Research, began in December 2007 and ended in June 2009. During that time, the world's financial system faltered and many banks and lending agencies across the globe faced turmoil. Governments were forced to step in to mitigate the disaster and to ensure that the largest businesses across industries did not cause a total collapse of the world economy. Amongst the largest investment banks some failed or were acquired and some survived the crisis. In this paper, we set out to answer the question: what turnaround strategies did investment banks employ to survive the financial crisis apart from taking government bailout money and restructuring legally? To answer this question we performed three levels of analysis: 1) researched the most effective turnaround 'levers' found through empirical academic studies; 2) researched accepted best practices from turnaround management firms; 3) interviewed numerous investment bankers, academics, and other financial industry professionals about their experiences during the crisis. Research and interviews revealed that one bank in particular, Goldman Sachs, took three steps that align with 'levers' found to be statistically significant in turning around financially distressed firms. It, 1) identified the root cause of the problem before taking a course of action; 2) took a growth oriented, strategic view and invested significant resources and time to ensure long term success; 3) communicated to clients and employees effectively and frequently about the short-term realities and its long-term commitments. We conclude that, while there are effective steps any business manager can take to turnaround a firm from financial distress, there is no set formula. The levers themselves are conceptually simple but difficult to execute in stressful and uncertain circumstances. Successful turnarounds arise when organizations execute prudent plans efficiently. Execution is efficient when organizations are able to unveil a problem at its core, adapt with the right sustainable solution, and unify individuals within an organization over a short time frame.
by David Hoyme and Joseph Farias-Eisner.
M.B.A.

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28

BAJTAREVIC, IRNES, and NEGAR MOHEB. "Kreditbedömning och värdering av kommersiella fastigheter." Thesis, Högskolan i Borås, Institutionen Handels- och IT-högskolan, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:hb:diva-20761.

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En investering i en kommersiell fastighet kräver finansiering av något slag. I dagsläget är det vanligt förekommande att fastighetsinvesterare tar banklån för att erhålla likvida medel för fastighetsköpet. För en beviljad kredit krävs det även att en värdering av fastigheten har genomförts. Därför är kreditbedömning och värdering av kommersiella fastigheter två betydelsefulla processer i bankens dagliga arbete. Relationen mellan fastighetsinvesterare och banken är också av avgörande betydelse då fastighetsinvesteraren är i behov av likvida medel för sitt fastighetsköp. Dessa processer för dock med sig ett flertal problem. En värdering är alltid osäker och baseras till stor del på schabloner vilket kan leda till att vissa fastigheter antingen över- eller undervärderas. För bankens del medför en utlåning alltid en kreditrisk, vilken måste minimeras för att banken ska undvika kreditförluster.Syftet med uppsatsen har varit att beskriva och förklara hur kreditbedömnings- och värderingsprocessen för utlåning till kommersiella fastigheter ser ut för tre olika bankkontor i Borås. Vidare har studien byggt på att beskriva vilka likheter och skillnader som förekommer emellan dessa banker. Syftet har även varit att studera hur lokala fastighetsinvesterare i kommersiella fastigheter upplever dessa processer.Studien är främst av kvalitativ karaktär då den största delen av det empiriska materialet är baserat på kvalitativa intervjuer genomförda med representanter från SEB, Swedbank Sjuhärad samt Handelsbanken Stora Torget. Vi har dock även tillämpat en kvantitativ metod eftersom vi har utfört en enkätundersökning med ett tiotal fastighetsinvesterare. Med hjälp av vår teoretiska referensram har vi analyserat det empiriska materialet, utifrån vilken vi senare har kunnat dra slutsatser och föra en diskussion kring.Resultatet visade att bankernas kreditbedömningsprocesser skiljer sig åt främst när det gäller olika beslutsinstanser och interna regelverk. En slutsats vi dragit är att det är bankens interna regelverk som spelar den avgörande rollen för kreditbedömningen. Beträffande värderingen applicerar samtliga banker liknande metoder däremot frånskiljer det sig när det gäller vem som genomför själva värderingen. Utifrån enkätundersökningen med fastighetsinvesterare har vi konstaterat att relationen mellan fastighetsinvesterarna och bankerna i vår studie fungerar väl. Båda parter är villiga att anpassa sig efter varandra och samarbeta för att få igenom en framgångsrik affär.
Program: Civilekonomprogrammet

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Nieuwoudt, M. M. "The strategy of PSG investment bank." Thesis, Stellenbosch : Stellenbosch University, 2003. http://hdl.handle.net/10019.1/49391.

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Thesis (MBA)--Stellenbosch University, 2003.
ENGLISH ABSTRACT: PSG Investment Bank started out of the PSG Group in 1998. It was a successful enterprise that was rated highly by the public, institutions and employees. Through 1999, there was a struggle on executive level over the strategy that PSG Investment Bank should follow. The struggle culminated in 2000 with the resignation of the founder of PSG Investment Bank. The remaining executives put their strategy in action during 2000 and 2001. External factors made the environment difficult during late 2001 and 2002 and PSG Investment Bank was not able to respond in such a way that it could ensure its own survival. PSG Investment Bank was sold to Absa in August 2002, resulting in PSG Investment Bank's closure and delisting in 2003. This study examines the strategy of PSG Investment Bank through its life according to a model for strategic management put forward by Burger (2000). The vision of PSG Investment Bank, the external environment that influenced PSG Investment Bank and the internal environment of PSG Investment Bank are analysed as well as the strategic issues and options utilised by PSG Investment Bank. The conclusion of the study is that PSG Investment Bank faced a tough external environment that needed a strong internal environment to be able to survive. By not managing the most important internal resources, the employees, correctly, management lost the ability to ride out the storm brought about by the external circumstances and were left with few strategic options but to sell PSG Investment Bank.
AFRIKAANSE OPSOMMING: PSG Beleggingsbank is in 1998 uit die PSG Groep gebore. Dit was 'n hoogs suksesvolle onderneming wat deur die publiek, institusies en werknemers gerespekteer is. Deur die loop van 1999 was daar 'n stryd op topbestuursvlak oor die strategie wat PSG Beleggingsbank moes volg. Hierdie stryd het in 2000 die bedanking van die stigter van PSG Beleggingsbank tot gevolg gehad. Die oorblywende bestuurders het hulle strategie gedurende 2000 en 2001 in werking geplaas. Eksterne faktore het die omgewing moeilik gemaak gedurende laat 2001 en 2002 en PSG Beleggingsbank kon nie daarin slaag om sodanig op te treë om sy eie oorlewing te verseker nie. PSG Beleggingsbank is in Augustus 2002 aan Absa verkoop wat veroorsaak het dat PSG Beleggingsbank gedenoteer is en sy deure tydens 2003 gesluit is. Hierdie studie ondersoek die strategie van PSG Beleggingsbank deur die loop van die onderneming se lewe aan die hand van 'n model vir strategiese bestuur soos voorgestel deur Burger (2000). Die visie van PSG Beleggingsbank, die eksterne omgewing wat PSG Beleggingsbank beïnvloed het en die interne omgewing binne PSG Beleggingsbank sowel as die strategiese kwessies en keuses wat PSG Beleggingsbank uitgevoer het, word bestudeer. Die slotsom van die studie is dat PSG Beleggingsbank 'n moeilike eksterne omgewing ondervind het wat 'n sterk interne omgewing benodig het om in te oorleef. Deur nie sy belangrikste interne hulpbron, sy werknemers, reg te bestuur nie, het die bestuur die vermoë verloor om die storm wat deur eksterne faktore veroorsaak is, uit te sit en het met min strategiese opsies oorgebly anders as om PSG Beleggingsbank te verkoop.

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Ring, Mikaela. "Reducing Swedish Banks’ Negative Impacts on Biodiversity : An Analysis of Possible Strategies." Thesis, KTH, Industriell ekologi, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-168432.

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Svenska banker har stor förbättringspotential när det gäller att säkerställa att finansieringar och investeringar inte bidrar till utrotning av växt- och djurarter och förödelse av skog, våtmarker och orörda miljöer. I en rankning utförd av Fair Finance Guide fick sju av de största svenska bankerna mycket låga betyg för sina åtaganden och handlingar inom temat ”biodiversitet”. Denna studie syftar därför till att identifiera möjliga strategier för svenska banker att minska sin negativa påverkan på biodiversitet genom att integrera en ökad hänsyn för skogs- och biodiversitetsfrågor i bankernas finansierings- och investeringsaktivititer. Genom att genomföra intervjuer med utländska banker som uppmärksammats för sina framsteg inom skogsskydd, och genom att granska det material som dessa banker publicerat på sina hemsidor, har denna studie samlat vägledande information som kan ge svenska banker en bättre förståelse för hur skogs- och biodiversitetsfrågor kan konfronteras på en inledande nivå. Ämnesfokus inom området för biodiversitet ligger på skogsskydd och studien har även ett tydligt fokus på hur banker kan arbeta för att minska den negativa biodiversitetspåverkan från sina generella finansierings- och investeringsaktiviteter. Nisch-investeringar som syftar till att öka bankers positiva biodiversitetspåverkan hamnar således utanför studiens primära områdesfokus. Studiens resultat visar att svenska banker har mycket att lära från sina internationella konkurrenter. Till att börja med finns ett antal frivilliga branschinitiativ, inklusive FN:s principer för hållbara investeringar (UN PRI), FN:s miljöprograms finansiella initiativ (UNEP FI), Ekvatorprinciperna, ”Carbon Disclosure Project” (CDP), ”Round Table on Responsible Soy” (RTRS), ”Roundtable on Sustainable Palm Oil” (RSPO), ”Forest Stewardship Council” (FSC) och ”Soft Commodities Compact”, som kan hjälpa banker att kommunicera, definiera och implementera en ökad hänsyn för skogs- och biodiversitetsfrågor. Dessutom erbjuder Rabobank, UBS och Credit Suisse inspirerande exempel på hur banker kan utveckla interna åtaganden, processer och metoder för att konfrontera frågor som rör avskogning och biodiversitetsförlust. En vanlig strategi bland de banker som intervjuats är att angripa skogs- och biodiversitetsfrågor genom att utveckla policyer som adresserar produktionen av några av de mest skogsintensiva handelsvarorna i världen, nämligen soja, palmolja, kött och timmer (inklusive papper och pappersmassa). Dessa policyer innehåller ofta ett åtagande att avstå från finansierings- och investeringsaffärer som bidrar till avskogning i urskogar, i områden med högt bevarandevärde, i områden som finns med på UNESCO:s världsarvslista, i våtmarker som skyddas av Ramsarkonventionen och i områden som skyddas av Internationella naturvårdunionen (IUCN). Ett vanligt tillvägagångssätt för att säkerställa att potentiella klienter lever upp till dessa policyer är att se till att klienterna i fråga är medlemmar i RTRS, RSPO och FSC och certifierade enligt de riktlinjer och principer som etablerats av dessa organisationer. De granskningar som utförs av dessa certifieringsorgan används sedan för att säkerställa kontinuerlig åtlydnad bland klienter. Trots att Rabobank, UBS och Credit Suisse alla blivit uppmärksammade för sina framsteg inom skogsskydd så har samtliga banker utsatts för mycket allvarlig kritik som antyder att bankernas åtaganden, processer och metoder inte alltid är tillräckligt omfattande eller väldefinierade för att säkerställa ett verkligt skydd av skog och biodiversitet. Således understryker studiens samlade rekommendationer till svenska banker vikten av att avancera längre än Rabobank, UBS och Credit Suisse och utforma ännu striktare och bredare åtaganden. Några av de viktigaste rekommendationerna till svenska banker innefattar uppmaningen att i) undvika svepande och otydligt språkbruk i utformandet av åtaganden, processer och metoder ii) se till att dessa åtaganden, processer och metoder täcker alla branscher förenade med skogs- och biodiversitetsrisker iii) se till att dessa åtaganden, processer och metoder appliceras såväl inom bankens finansieringsaktiviteter som inom bankens investeringsaktiviteter iv) använda de certifieringar som RTRS, RSPO och RTRS erbjuder som utgångspunkt i bankens utvärderings- och uppföljningsprocesser, men se till att komplementera dessa certifieringar med research, due diligence och stickkontroller som utförs av banken själv. Slutligen kan konstateras att behovet för banker att ta ett större ansvar för deras inverkan på den globala biodiversiteten nu är mer akut än någonsin. Vi står nu inför den sjätte massutrotningen i jordens historia och om banker inte vidtar omedelbara åtgärder för att minska sin negativa biodiversitetspåverkan så hotas inte bara den långsiktiga ekonomiska avkastningen av bankens finanseringar och investeringar, utan även den långsiktiga resiliensen hos våra ekosystem. De svenska bankernas låga betyg inom området för biodiversitet bör således tas på högsta allvar och svenska banker bör allvarligt överväga att anta de rekommendationer som presenteras i denna studie.
Swedish banks have a great improvement potential as regards ensuring that their finance and investment activities do not contribute to the extinction of plant and animal species and the destruction of forests, wetlands and pristine environments. In a ranking provided by the Fair Finance Guide, seven major Swedish banks received low scores for their policies and actions in the theme “biodiversity”. Hence, this study aimed to identify possible strategies for Swedish banks to reduce their negative impacts on biodiversity by integrating improved forest and biodiversity considerations into their finance and investment practices. By performing interviews with non-Swedish banks that have been recognised as frontrunners in the area of forest protection and by reviewing material publicly provided by these banks, a greater understanding of how Swedish banks could start approaching forest and biodiversity issues was attained. Although there are many different drivers of biodiversity loss, including pollution and the introduction of invasive species, the subject focus within the area of biodiversity loss was on deforestation issues. Moreover, this study focused on investigating how banks can reduce negative biodiversity impacts from their general finance an investment activities rather than investigating how banks can increase positive biodiversity impacts through niche investments. The results of this study prove that Swedish banks have a lot to learn from their international competitors. First of all, there are a number of voluntary industry initiatives, including the UN Principles for Responsible Investment (UN PRI), the UNEP Finance Initiative (UNEP FI), the Equator Principles, the Carbon Disclosure Project (CDP), the Round Table on Responsible Soy (RTRS), the Roundtable on Sustainable Palm Oil (RSPO), the Forest Stewardship Council (FSC) and the 'Soft Commodities' Compact, which can help banks communicate, define and implement an improved commitment to protect forests and biodiversity. Moreover, the examples provided by Rabobank, UBS and Credit Suisse serve as inspiring examples for how to develop internal policies, processes and methods to confront forest and biodiversity issues. A common strategy among the interviewed banks is to confront issues related to deforestation and biodiversity loss by formulating policies that address the production of some of the most forest intense commodities in the world, namely soy, palm oil, beef and timber (including pulp and paper). These policies often include the commitment to refrain from finance and/or investment deals that contribute to deforestation in primary forests, in areas that support high conservation values (HCVs), in UNESCO World Heritage Sites, in Ramsar Wetlands and in areas protected by the International Union for Conservation of Nature (IUCN). To ensure that prospective clients live up to these standards, a common approach is to make sure clients are members of and certified according to the RTRS, the RSPO and the FSC. The audits performed by these certification schemes are used to ensure continuous compliance among clients. However, Rabobank, UBS and Credit Suisse have all been subject to some alarming criticism which suggests that the banks’ policies, methods and processes are not always sufficiently comprehensive or well-defined. As a result, the author’s recommendations to Swedish banks have been formulated in a way that emphasises the need to go beyond the examples provided by Rabobank, UBS and Credit Suisse and establish even stricter and broader commitments. Some of the most important recommendations to Swedish banks include the call to i) avoid using vague terminology when defining commitments, processes and methods ii) make sure these commitments, processes and methods cover all sectors associated with high forest risks iii) make sure these commitments, processes and methods apply not only to finance deals but also to investment banking services iv) use the RTRS, RSPO and FSC certification schemes as a basis for screening and monitoring processes, but be sure to complement these schemes with research, due diligence and sample audits performed by the bank itself. To conclude, it can be said that the need for banks to take on a greater responsibility for the impacts of their finance and investment activities is more acute than ever. We are now facing the sixth mass extinction period in the history of Earth and if banks do not take immediate action to help foster biodiversity, they will not only risk the long-term economic profit of their own finance and/or investment deals, but they will also undermine the very life support system of Earth. Hence, the fact that Swedish banks received such low scores in the ranking provided by the Fair Finance Guide in the theme “biodiversity” should be not taken lightly and Swedish banks should sincerely consider adopting the recommendations presented in this study.

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Van, Winkle Jeannette. "Capital accumulation, financial reform, and investment planning in Russia : what is to be done about the banks? /." Santa Monica, CA : RAND, 1995. http://www.rand.org/pubs/rgs%5Fdissertations/RGSD115/.

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Omara, Amgad Hamed Abdel-Razik. "A theory concerning the role of investment banks in Egypt and other developing countries." Thesis, University of Lincoln, 2004. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.422214.

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Martignon, Manuel <1995&gt. "The role of investment banks in IPO process: the case of San Lorenzo yacht." Master's Degree Thesis, Università Ca' Foscari Venezia, 2020. http://hdl.handle.net/10579/18361.

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Souza-Sobrinho, Nelson Ferreira. "Essays on interest rates, growth and business cycles." Diss., Restricted to subscribing institutions, 2007. http://proquest.umi.com/pqdweb?did=1428847721&sid=1&Fmt=2&clientId=1564&RQT=309&VName=PQD.

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Gulamhussen, Mohamed Azzim. "The investment decision of banks in the City of London : a real option theory approach." Thesis, University of Reading, 2001. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.553155.

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There is a gap in the existing empirical literature on the investment decision of banks in financial centres. While there are empirical tests with micro analytic data on the investment decisions of banks in the United States and Japan, this is not the case of London. This study empirically tests the factors affecting the investment decision of banks in the City of London through a unique set of interviews with senior managers in the industry and ~ls in the mentioned gap in the existing empirical literature. The study puts the existing applications of the theory of investment decisions of firms in foreign markets to banks into a logically consistent sequence and brings in other factors from real option theory. In particular, it integrates the existing applications within a profit- maximisation model of the behaviour of banks in financial centres. The hypotheses are derived through comparative static analysis. The empirical findings, in agreement with the profit maximisation theory, broadly conform to the existing empirical findings and suggest the existence of strong option effects in the investment decision of banks in the City of London. To date applications of real option theory have found options of a contractual nature derived from informal arrangements in joint ventures to have great importance in the context of the investment decisions of manufacturing enterprises. The empirical findings of this study suggest that options of a non-contractual nature have greater importance in the context of the investment decision of banks in foreign markets.

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Bianco, Steven Blake. "Isomorphic Convergence & the Great Recession of 2008: A Case Study of Eight Investment Banks." Thesis, Boston College, 2016. http://hdl.handle.net/2345/bc-ir:106716.

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Thesis advisor: Eve Spangler
This research aims at contributing to the prevailing literature on the causal origins of the 2008 Recession. Organizations within major investment finance very likely converged towards increased speculation as the result of a process called isomorphism. This approach engaged in a multiple-embedded case study of eight banks including Bank of America, J.P. Morgan Case, Wells Fargo, Bank of New York, Mellon Financial, Bank of New York Mellon, PNC Financial (or PNC Bank), and U.S. Bancorp. The work draws from a qualitative content analysis of quantitative accounting data disclosed under annual financial reports between 2003 and 2008. Trend analyses and accounting ratios were utilized to locate points of convergence in the financial data for these organizations. Conclusively, the research found convergence in the valuation of revenues during certain periods, the valuation of net-income during certain periods, the proportion of noninterest income to revenues, the liquidity ratio, the investment of mortgage-backed securities, outstanding total loans, and net cash used in financial activities
Thesis (MA) — Boston College, 2016
Submitted to: Boston College. Graduate School of Arts and Sciences
Discipline: Sociology

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Gaspar, João Victor Santos Costa. "The impact of real estate market in financial stability : commercial banks exposure." Master's thesis, FEUC, 2016. http://hdl.handle.net/10316/30728.

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Dissertação de mestrado em Economia, apresentada à Faculdade de Economia da Universidade de Coimbra, sob a orientação de Hélder Sebastião.
This paper studies key factors and spillovers concerning the real estate market connection to the banking system, in four very different European countries. Nowadays, banks are strongly engaged in housing related activities, therefore changes in real estate value most probably have a non-trivial impact on bank´s profitability, either through direct investment or due to housing related loans. Using monthly data since 2000 until 2014 for four countries (France, Portugal, Sweden and United Kingdom) I found evidence that indeed the real estate is an important factor when one measures the costs and profits related to the banking system, it is also noticed that direct banking investment in this sector or massive engagement in mortgages related loans, are variables more important to control than the interest rate, for these European cases. My findings also suggest that the monetary policy in Europe should take into account this relationship between banking and the real estate market.

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RADIC, NEMANJA. "Efficiency and competition in the investment banking industry." Doctoral thesis, Università degli Studi di Roma "Tor Vergata", 2010. http://hdl.handle.net/2108/1301.

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Questa tesi tratta sostanzialmente tre temi principali, inerenti l’efficienza e la competizione nell’ambito dell’investment bank, ognuno dei quali costituisce un capitolo della stessa. Il primo dei temi (Cap.2) ripercorre e recensisce la letteratura sull’argomento investment banking e fornisce una indicazione sulle tendenze più recenti nell’industria. Il secondo tema (Cap.3) analizza costo e guadagno di efficienza relativamente al caso di un investment banks per i paesi del G7 (Canada, Francia, Germania, Italia, Giappone, Gran Bretagna e Stati uniti d’America) e la Svizzera prima della recente crisi finanziaria. Si è adottata la metodologia proposta da Coelli et al. (1999) per adattare (o aggiustare) il costo stimato e gli scores del guadagno di efficienza alle influenze dei fattori ambientali inclusi i “key banks’ risks”, i fattori specifici del sistema bancario e di quello industriale e le condizioni macroeconomiche. I risultati a nostra disposizione ci suggeriscono che non tenere in considerazione i fattori ambientali può far spostare notevolmente gli scores registrati per i guadagni di efficienza dell’investment bannks. In particolare, il considerare i fattori di rischio bancario, (incluse liquidità ed esposizione al rischio) è stato molto importante per poter fissare accuratamente il guadagno di efficienza: vale a dire che i valori calcolati per il guadagno di efficienza sarebbero stati notevolmente sottostimati se non si fosse tenuto conto del rischio preso dalla banca. I dati ottenuti ci suggeriscono anche un altro fatto molto interessante, che la scala (o grandezza) influisce su entrambe i fattori; il costo e il guadano di profitto, sebbene ciò non implichi che mercati più concentrati siano per questo più efficienti. Per ultimo (Cap.4) si è cercato di investigare la relazione esistente tra potere di mercato ed efficienza e di esplorare le caratteristiche di condizioni competitive nell’investment banking mondiale. Al fine di condurre le analisi delle condizioni di competitività dei diversi paesi e del livello di efficienza regionale, abbiamo utilizzato inizialmente l’approccio delle frontiere stocastiche per creare il modello del costo efficienza e in un secondo momento abbiamo investigato l’indice di Lerner sul potere del monopolio per testare il grado di potere di mercato nell’industria dell’investment banking. Per comprendere più a fondo gli schemi di competizione in tale industria abbiamo utilizzato i modelli proposti da Panzer e Rosse per il calcolo del grado di competizione nell’investment banking mondiale. Da ultimo, per investigare la relazione esistente tra potere di mercato ed efficienza abbiamo applicato un test di casualità. I dati utilizzati sono stati quelli provenienti dal bilancio, dalle dichiarazioni di reddito e dai report annuali per i 15 paesi presi in esame nel periodo 2001-2008. Le analisi effettuate evidenziano il fatto che i mercati mondiali dell’investment banking hanno iniziato ad essere progressivamente più concentrati e con un costo efficienza minore. Comunque questo non è stato il caso di tutti i paesi. Inoltre, L’investment bank sembra aver ridotto i loro costi marginali più velocemente della caduta dei prezzi e questo ha condotto ad un aumento nell’indice di Lerner che suggerisce quindi un più elevato potere di mercato. I risultati provenienti dalle statistiche di H, ci portano a conclusioni analoghe, indicando l’esistenza di oligopoli in conflitto nel mercato. Le evidenze di una relazione tra potere di mercato ed efficienza non è immediata, e altri fattori (tra cui gli incentivi al rischio, il contesto e la struttura delle regole etc) potrebbero influenzare sia la grandezza che la direzione di tale relazione e quindi potrebbero essere presi in considerazione per gli sviluppi futuri della ricerca su questa tematica.
This thesis consists of three substantive essays on investment bank efficiency and competition, each constituting a separate chapter. The first essay (Chapter 2) reviews the literature on investment banking and provides indication on the recent trends in the industry. The second essay (Chapter 3) analyses cost and profit efficiency for a sample of investment banks for the G7 countries (Canada, France, Germany, Italy, Japan, UK and US) and Switzerland prior to the recent financial crisis. We follow Coelli et al. (1999)’s methodology to adjust the estimated cost and profit efficiency scores for environmental influences including key banks’ risks, bank and industry specific factors and macroeconomic conditions. Our evidence suggests that failing to account for environmental factors can considerably bias the efficiency scores for investment banks. Specifically, bank-risk taking factors (including liquidity and capital risk exposures) are found particularly important to accurately assess profit efficiency: i.e. profit efficiency estimates are consistently underestimated without accounting for bank risk-taking. Interestingly, our evidence suggests that size matters for both cost and profit efficiency, however this does not imply that more concentrated markets are more efficient. The final essay (Chapter 4) investigates the relationship between market power and efficiency, and explores characteristics of competitive conditions in worldwide investment banking. In order to conduct analysis of the countries competitive conditions and regional efficiency level, first we use stochastic frontier approach to model cost efficiency, and second we investigates Lerner index of monopoly power to test the degree of the market power in the investment banking industry. To further comprehend competition pattern in the industry we use Panzar and Rosse model to assess the degree of competition in worldwide investment banking. Lastly, to investigate the relationship between market power and efficiency, we apply a causality test. Data used was obtained from balance sheet, income statement and annual reports data for the 15 countries over 2001-2008 periods. The analysis highlights the fact that the investment banking markets worldwide are becoming progressively more concentrated and less cost efficient. However this is not the case for all the countries. Further, investment banks seem to have reduced their marginal costs faster than price falls and this led to an increase in the Lerner index thus suggesting greater market power. Results from H: Statistics lead to similar conclusions, hence indicating existence of colluding oligopoly in the market. The findings on the relationship between market power and efficiency is not straightforward and that other factors (such as among others, risk incentives, regulatory framework and contestability) may influence both the magnitude and the direction of the relationship and therefore should be accounted for in future research in this area.

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Maheswaran, Sharangan. "Lifting the Shroud: Government, Investment Banks and Power in Post Financial Crisis United Kingdom - A critical deconstruction of the relationship between government and investment banks in the United Kingdom post global financial crisis (2007 – 2011)." Thesis, Department of Government and International Relations, 2011. http://hdl.handle.net/2123/8284.

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The late 2000s Global Financial Crisis swept the advanced world and spilled into the developing, creating chaos in its wake. At the crux of the crisis were the high-risk activities of investment banks in the developed world – and especially United Kingdom. Since then, academic and public discussion has revolved around the questionable relationship between investment banks and government that resulted in subpar regulation and the costly bank ‘bailouts’ of 2008 and 2009. What this thesis will to do is holistically assess how the power relationship between British investment banks and the United Kingdom government has evolved since the crisis, utilising Doris Fuchs’ Three Dimensional Approach to Business Power and Governance and a wide array of research to address those structural, instrumental and discursive elements of business power.

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Hagberg, Johanna, and Marigona Resteljica. "SME financial aid opportunities: The role of Bank investment evaluations from a real options lens : a qualitative study on how banks evaluate investment opportunities based on a real option approach." Thesis, Högskolan Kristianstad, Sektionen för hälsa och samhälle, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:hkr:diva-12845.

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This study aims to explore how banks evaluate investment decisions towards SMEs, through a real option approach. After analyzing 9 interviews with business advisors from four different banks, illustrations show that banks indeed use a real option way of thinking, without being aware of it as well as put more weight in certain factors namely the repayment ability. Moreover, the relationship factor shows an interesting relevance during investment evaluation towards SMEs, as better relationships lead to lower demands on factors of evaluation. In brief, the study contributes to the theory of real options as well as of practical essentiality to banks and SMEs.

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Wang, Weishen. "INVESTIGATE THE WEALTH EFFECT OF INVESTMENT BANKS AND FAIRNESS OPINIONS THEY PROVIDE IN CORPORATE MERGERS AND ACQUISITIONS." Doctoral diss., University of Central Florida, 2007. http://digital.library.ucf.edu/cdm/ref/collection/ETD/id/3316.

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The dissertation studies the value of both investment banks' services on the whole and fairness opinions specifically, which the banks provide to the acquiring firms. In the first chapter, I examine how investment banks and acquiring firms' governance quality interact to affect shareholders' wealth in corporate mergers and acquisitions. Although the wealth impact of investment banks in mergers and acquisitions is widely studied in the literature, existing studies do not consider the interaction between governance quality and investment banks. I examine how investment banks and governance quality of acquiring firms interact to affect the wealth of acquiring firms' shareholders. I find that acquiring firms with poor governance are more likely to use investment banks in the deal. This association holds even after controlling for deal feature and other characteristics. I find that the use of investment banks per se does not result in a wealth reduction for the acquiring firms' shareholders. However, when the acquiring firm has poor governance, the use of investment bank is associated with extra value loss for the shareholders. The finding suggests that investment banks may help managerial empire building at the expense of shareholders under some circumstances. The study indicates that when studying investment bank's impact it is important to consider the quality of the hiring firms' governance. In the second chapter, I investigate the wealth implications of fairness opinions that the board of an acquiring firm purchases in corporate mergers from investment banks. Using the propensity score matching method to address the self-selection issue, I find that firms undertaking opinioned mergers under-perform firms with non-opinioned matching mergers in short windows around the announcement date. In the long run, the firms with opinioned merger do not perform better than firms with non-opinioned mergers. The acquiring firms perform poorly relative to their performance before the mergers, irrespective of whether their mergers are opinioned. Over a 12-month window after the mergers, the acquiring firms involved in both opinioned and non-opinioned mergers under-perform matching firms that do not make mergers. These findings are consistent with the hypothesis that the board buys a fairness opinion for its self-protection instead of maximization of shareholder wealth. The implication of this finding is that when investors evaluate mergers, they should focus primarily on deal characteristics, not fairness opinion.
Ph.D.
Department of Finance
Business Administration
Business Administration PhD

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Onyekwena, Chukwuka. "Empirical investigation of the impact of foreign direct investment on manufacturing firms and banks in Nigeria." Thesis, University of Portsmouth, 2012. https://researchportal.port.ac.uk/portal/en/theses/empirical-investigation-of-the-impact-of-foreign-direct-investment-on-manufacturing-firms-and-banks-in-nigeria(306a422e-4488-4641-b521-ba96d8a7ffd1).html.

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This thesis is based on the econometric investigation of the impact of Foreign Direct Investment on Nigerian manufacturing firms and banks. Unique data obtained from a survey of Nigerian firms conducted by the Centre for the Study of African Economies, University of Oxford, and United Nations Industrial Development Organization was employed for the estimations based on manufacturing firms. For the investigation based on Nigerian banks, this study uses the BankScope data base. Ordinary Least Squares and Fixed Effects techniques were used to estimate the coefficients of foreign presence measures in augmented Cobb-Douglas models for manufacturing firm data, and augmented Dealership models for data on banks. Results of the estimations show evidence of positive effects of foreign presence on domestic manufacturing firms, while no effects were obtained from the estimations based bank data. The differences in FDI effects reflect on the sector-specific characteristics of manufacturing firms and banks in Nigeria. Manufacturing firms in Nigeria operate at low technology levels and are open to foreign direct investment, while the opposite seems to be case of banks in the country. The results therefore support earlier thoughts in literature on FDI which assert that positive spillovers exist were technology gaps between foreign firms and domestic firms exist, or in sectors open to FDI. Important contributions were made in examining the effect of the approaches taken towards the measurement of foreign presence on spillover estimates with particular reference to sampling procedure and data quality. The study therefore concludes that FDI generates spillovers in Nigerian manufacturing firms but attention of empirical investigations should focus on appropriate measurement of foreign presence variables, and the specific characteristics of the sector or industry being examined.

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Mekonnen, Michael, and Gara Tahir. "The Ethnic Barrier : An exploratory study of the perception of ethnic diversity within investment banks in Sweden." Thesis, KTH, Skolan för industriell teknik och management (ITM), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-300378.

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This paper aims to give an insight into how employees, with foreign backgrounds, at investment banks in Sweden perceive the industry with respect to ethnic diversity. Furthermore, it intends to investigate how employees within investment banks believe ethnic diversity can be improved with a focus on the recruitment process. The study uses grounded theory as a methodological approach to propel this equity, diversity, inclusion (EDI) research beyond the dominant understanding of the organizations. Furthermore, to collect data, semi-structured interviews were conducted with nine participants, of which seven of them had a foreign background. According to the findings of this paper, the perception of the industry is that there is a lack of ethnic diversity within the Swedish investment banking industry. Furthermore, the study found that the investment banker’s perceptions are that; there is a lack of relatable role models, a lack of relevant educational background among people with a foreign background, inequality regimes in the industry, and prevalent nepotism and network-based recruitment. The latter two reproduce ethnosociality, where the dominant group gets an advantage, and the minority gets excluded, in this case, people with a foreign background. Furthermore, when the interviewees were asked what may be done to increase ethnic diversity, they came up with ten different solutions, some of which contradicted one other and some concurring. This paper concludes that companies need to play an active role and take responsibility and put as much focus on ethnic diversity as gender diversity.
Denna uppsats syftar till att ge en inblick i hur anställda, med utländsk bakgrund, i investmentbanker i Sverige, uppfattar branschen med avseende på etnisk mångfald. Dessutom avser den att undersöka hur anställda inom investmentbanker tror att etnisk mångfald kan förbättras med ett fokus på rekryteringsprocessen. Studien använde grounded theory som ett metodologiskt tillvägagångssätt för att driva denna forskning om mångfald, rättvisa och inkludering bortom organisationernas dominant och rådande uppfattning. För att samla in data genomfördes semistrukturerade intervjuer med nio deltagare, varav sju hade en utländsk bakgrund. Enligt resultaten i denna uppsats är uppfattningen av branschen att det saknas etnisk mångfald inom investmentbankerna i Sverige. Dessutom fann studien att anställdas uppfattning är att; det saknas relaterbara förebilder, det är brist på relevant utbildningsbakgrund bland människor med utländsk bakgrund, det finns ojämlikhetsregimer i branschen och det finns en utbredd nepotism och nätverksbaserad rekrytering. De två sistnämnda anses reproducerar etnosocialitet, där den dominerande gruppen får en fördel och minoritetsgruppen utesluts, i detta fall människor med utländsk bakgrund. När intervjuobjekten tillfrågades om vad som kan göras för att förbättra etnisk mångfald, kom de fram till 10 olika förslag, både motstridiga och överensstämmande. Denna uppsats drar slutsatsen att företag måste spela en aktiv roll, ta ansvar och fokusera lika mycket på etnisk mångfald som på jämställdhet.

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Šaltis, Mantas. "Fizinių asmenų investavimo Lietuvos komerciniuose bankuose alternatyvų vertinimas." Master's thesis, Lithuanian Academic Libraries Network (LABT), 2008. http://vddb.library.lt/obj/LT-eLABa-0001:E.02~2008~D_20080929_103653-31765.

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Magistro darbe yra vertinami ir sisteminami teoriniai komercinių bankų investicinės veiklos formavimo ir valdymo kriterijai bei efektyvaus investicinio portfelio sudarymo metodai. Analizuojamos fizinių asmenų investavimo Lietuvos komerciniuose bankuose (AB SEB bankas, AB bankas „Hansabankas“ ir AB DnB NORD bankas) galimybės 2002-2007 metais, bei sudaromi fizinio investuotojo investicinio portfelio subalansuotos, rizikingos ir nerizikingos strategijos, investuojant ilgame ir trumpame perioduose, optimistinis bei pesimistinis variantai, siekiant nustatyti optimaliausią investicinį portfelį. Darbo pabaigoje pateikiamos išvados ir rekomendacijos fiziniams investuotojams. Magistro darbe iškelta hipotezė, kad naudingiausia investuoti ilgesniam laikotarpiui į rizikingiausias investicines alternatyvas, pasitvirtino iš dalies. Ilgesniam laikotarpiui investuoti yra naudingiau nei trumpesniam, tačiau, jei akcijų rinkų krizė ir toliau veiks investicinių fondų investicinių vienetų kainas tokiomis pat tendencijomis, tai investuojant į rizikingiausias alternatyvas galima patirti labai didelių nuostolių. Todėl šiuo metu reikėtų investuoti pagal subalansuotą investavimo strategiją, t.y. kuo labiau diversifikuoti savo portfelio riziką.
There are analyzed the theoretical aspects of the investment activity of the commercial banks and the methods of the effective investment portfolio. Also there are analyzed the investment opportunities of private persons in the Lithuanian commercial banks (SC SEB bank, SC bank “Hansabankas”, SC DnB NORD bank) in the period of 2002-2007. There are set the optimistic and pessimistic version of the persons’ investment risk, non-risk and balanced strategy in long and short periods for the reason to set the most optimal investment portfolio. The hypothesis, that the most useful version for investment is to invest to the risk strategy for the long period, was validated partially. To invest for the longer period is more useful. However, if the crisis of the stock market would be run on, it would be better to invest to the balanced strategy investment portfolio.

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HSIAO, YU-TSUNG, and 蕭佑宗. "A study on the Factors Affecting Taiwan Bankers Investment and Business Decisions in Mainland China." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/p449a2.

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碩士
嶺東科技大學
高階主管企管碩士在職專班
107
This study focuses on the theoretical analysis of the factors influencing the investment and business decisions of Taiwan Banks in mainland China. From the perspective of the development trend of finance and trade, the stable, sustained and rapid economic development of the mainland and the large population base of the mainland give the market a promising future.This research takes Fuzzy Analytic Hierarchy Process (FAHP) as the research method. The research results show that the international financial environment is the most important factor influencing the overseas business strategy of Taiwan banking industry, followed by investment cost, human resources, political environment and cross-strait agreement.

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Chang, Ching-Ping, and 張菁萍. "The Impact of Bankers on the Board on Corporate Investment-Cash Flow Sensitivity and Dividend Policy." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/15177735754342155595.

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博士
國立中山大學
企業管理學系研究所
98
Investment, financing and dividend policies are critical for firms. The natures of these three policies may be significantly influenced by bankers on the board. Previous studies have examined the relationship between financing policy and bankers on the board. However, the influence of bankers on the board on corporate investment and dividend policies remains unexamined. Therefore, this paper tries to shed further light on whether bankers on the board affect corporate investment-cash flow sensitivity and dividend policy. This study collects data from Taiwan publicly traded corporations that have banker directors between 2003 and 2007, together with a matching sample consisting of firms without banker directors. Variables used to construct empirical analyses are from the Taiwan Economic Journal (TEJ) database. The results show that the presence of bankers appointed to corporate directors and the percentage of banker directors positively affect the firm’s investment-cash flow sensitivity positively. This study also finds a negative relationship between the presence of banker directors and the likelihood of dividend payment. The percentage of banker directors has negative impacts on the likelihood of dividend payment and corporate dividend payout ratio.

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47

Stewart, Susan M. "Investment banker prestige & underpricing of reverse LBOs." Thesis, 1994. http://spectrum.library.concordia.ca/3525/1/MM01323.pdf.

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Looks for an explanation why reverse leveraged buyouts experience far less underpricing than initial public offerings do. Factors of riskiness of the issue and the prestige of the investment banker account for the difference.

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48

Wang, Le-Shing, and 王樂生. "Leverage Buyouts and Investment Banks." Thesis, 1998. http://ndltd.ncl.edu.tw/handle/42213646728928644966.

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李綺文. "The Behavioral Biases of Banks’ Investment Decisions." Thesis, 2009. http://ndltd.ncl.edu.tw/handle/78465465684338771057.

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50

Lin, Chia-Li, and 林佳莉. "Market efficiency between Investment Banks and Commercial Banks in Financial Crisis." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/65060208846939390571.

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碩士
臺灣大學
財務金融學研究所
98
Market efficiency, one of the most important concepts in finance field, has been the controversial issue these years. This is because there are a lot of empirical anomalies happening in real world such as small firm effect, and January effect. It is intuitive that efficiency cannot happen instantaneously in the real world. Because the information does not spread so quickly that everyone cannot obtain it at the same time. As a result, one may gain abnormal profits. However, this situation will not persist too long. The strength of various kinds of investors will push the market toward efficiency. Therefore, the goal of our study is to investigate the convergence process toward efficiency of the relation between the order imbalances of investment banks and the returns of commercial banks. First of all, we examine the relation between returns and contemporaneous as well as lagged order imbalances by a multi-regression model. The empirical result shows that the contemporaneous imbalances have a significantly positive impact on returns, and condition on the contemporaneous imbalances, the impact of the lagged-one imbalances on returns is negative. Disregarding the contemporaneous imbalances, there are obviously large figures of negative and significant coefficients at the 10% significant level for the three time intervals. Besides, we observe a positive relation between contemporaneous imbalances and returns by the use of a GARCH(1,1) model. And both in the multi-regression model and the GARCH(1,1) model, the convergence process toward efficiency is observable. Moreover, we us a GARCH(1,1) model to examine the relation between volatility and order imbalances. The results come out to be not significant. Our explanation is that market makers have great abilities to control inventories. Finally, we build a trading strategy based on the indicator of order imbalances. Our trading strategies cannot neither yield statistically significant positive returns nor outperform original daily returns.

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Dissertations / Theses on the topic 'Investment bankers'

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