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1
Engel, Dirk, and Torge Middendorf. "Investment, internal funds and public banking in Germany." Journal of Banking & Finance 33, no. 11 (November 2009): 2132–39. http://dx.doi.org/10.1016/j.jbankfin.2009.05.006.
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Spahija, Fidane. "The Investment and Net Interest Margin: Case Study Commercial Banks in Kosovo." European Journal of Multidisciplinary Studies 1, no. 2 (April 30, 2016): 117. http://dx.doi.org/10.26417/ejms.v1i2.p117-126.
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In Kosovo, but in all developing countries, the foreign investment is the locomotive of the country that considered as the most important economic sectors. In general it can be concluded that most of the investment originates from developed countries and that these investments return to these places. Origin of investments in Kosovo mainly comes from countries such as Austria, Germany, Slovenia, Great Britain, Switzerland, Turkey, the Netherlands, Albania, Serbia, USA, France, Macedonia, Croatia, Cyprus, Norway, Italy, Greece etc. The banking sector in Kosovo has been very attractive to the foreign investors. A total of nine commercial banks, seven are foreign owned. Foreign investments are primarily generated as investments in shares of foreign shareholders from different countries of the world. Investments in securities have increased by the banking sector in 2014. With the change of the interest rate it has also changed net interest margin of the banking sector. Interest on loans and deposits has continued to decline. Especially interest rates on deposits in 2014 have fallen to 1. 1%. This linked to the investment bank in securities of our government as the initiator in this area but cannot be denied to the investment of foreign governments. With the decrease of credit interest rate will be the development of sustainable economic growth and boost investment.
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Nabilou, Hossein. "Can the Plight of the European Banking Structural Reforms be a Blessing in Disguise?" European Business Organization Law Review 22, no. 2 (February 22, 2021): 241–81. http://dx.doi.org/10.1007/s40804-021-00206-2.
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AbstractOne of the problems perceived to be at the heart of the global financial crisis was an amalgamation of various commercial and investment banking activities under one entity, as well as the interconnectedness of the banking entities with other financial institutions, investment funds, and the shadow banking system. This paper focuses on various measures that aim to structurally separate the banking entities and their core functions from riskier financial activities such as (proprietary) trading or investments in alternative investment funds. Although banking structural reforms in the EU, the UK, and the US have taken different forms, their common denominator is the separation of core banking functions from certain trading or securities market activities. Having reviewed the arguments for and against banking structural reforms and their varieties in major jurisdictions, including the EU, UK, US, France, and Germany, the paper argues that a more nuanced approach to introducing such measures at the EU level is warranted. Given the different market structures across the Atlantic and the lack of conclusive evidence of the beneficial impact of banking structural reforms, the paper concludes that the withdrawal of the banking structural reforms proposal by the European Commission has been a prudent move. It seems that in the absence of concrete evidence, experimenting with structural reforms at the Member-State level would be less costly and would provide for opportunities for learning from smaller experiments that could pave the way for a more optimal approach to banking structural reforms at the European level in the future.
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Sundjaja, Arta Moro. "Investment Cost Model in Business Process Intelligence in Banking And Electricity Company." ComTech: Computer, Mathematics and Engineering Applications 7, no. 2 (June 1, 2016): 113. http://dx.doi.org/10.21512/comtech.v7i2.2248.
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Higher demand from the top management in measuring business process performance causes the incremental implementation of BPM and BI in the enterprise. The problem faced by top managements is how to integrate their data from all system used to support the business and process the data become information that able to support the decision-making processes. Our literature review elaborates several implementations of BPI on companies in Australia and Germany, challenges faced by organizations in developing BPI solution in their organizations and some cost model to calculate the investment of BPI solutions. This paper shows the success in BPI application of banks and assurance companies in German and electricity work in Australia aims to give a vision about the importance of BPI application. Many challenges in BPI application of companies in German and Australia, BPI solution, and data warehouse design development have been discussed to add insight in future BPI development. And the last is an explanation about how to analyze cost associated with BPI solution investment.
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Kuo, Kuo Cheng, Sue Ling Lai, Khunlaphat Chancham, and Ming Liu. "Energy Consumption, GDP, and Foreign Direct Investment in Germany." Applied Mechanics and Materials 675-677 (October 2014): 1797–809. http://dx.doi.org/10.4028/www.scientific.net/amm.675-677.1797.
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This research studies the causal relationship between energy consumption, gross domestic product (GDP), and foreign direct investment (FDI) in Germany for a period of 1971-2010. The empirical results reveal that there is a unidirectional causality running from GDP to energy consumption and from GDP running to FDI in Germany. This is due to the highly rising trends of economic activities in the country which can lead to the expansion in energy consumption. As there is an increase in economic activities within the country, then the growth rate will be in the rising path. As a result, the foreign investors will see the promising future and then invest in the host country. The conservative energy policy is recommended to support the energy saving because it will have little or no adverse effect on GDP. The energy efficiency should be applied by encouraging the use of renewable energy sources in economic activities as an alternative to stimulate the economic growth of the country. Also, the public expenditure should be expanded to increase the country’s economy and attract foreign investors. In addition, the government should support for the service industry such as insurance, finance and banking, and tourism because this type of industry does not consume as much energy as the manufacturing industry does in the overall manufacturing processes. Besides, the government should provide tax credit for the manufacturers who can fulfill the energy efficiency for their operation.
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Stoika, Viktoriia. "Integration of Islamic banking in the national banking sector: foreign experience." SHS Web of Conferences 65 (2019): 09004. http://dx.doi.org/10.1051/shsconf/20196509004.
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The rules of banking management in Muslim countries are based on the Sharia Law, that is, a set of rules and laws relating to the management of the economy, social, political and cultural aspects of Islamic society. Sharia Law also prohibits the conclusion of immoral transactions and endorses social justice, which is ensured through the distribution of risks and returns, and the implementation of social investment. In the context of economic globalization, this phenomenon is already quite distinguished and is considered a worthy competitor to the traditional banking system. Features of Islamic banking institutions activities become their advantages in comparison with traditional banking institutions. That is why Islamic banks have become active participants in the global financial market, despite the specific nature of their operations and the difficulties of their adaptation to international practice. Islamic banking has spread not only in the developed countries of Western Europe, but also in Central Asia. The study of the process of Islamic banks activities in the financial markets of such countries as Great Britain, Germany, Kazakhstan and Uzbekistan allows us to identify two forms of their functioning: establishment of Islamic windows by banking institutions of these countries and direct entry of banks that originate from Islamic countries. The experience of the above-mentioned countries regarding the integration of Islamic banking into the national financial sector has shown, first of all, the need to develop an appropriate regulatory framework, to form an appropriate infrastructure, to conduct awareness-raising activities, to strengthen international cooperation with investor countries.
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Musile Tanzi, Paola, Elena Aruanno, and Mattia Suardi. "A European banking business models analysis: the investment services case." Journal of Financial Regulation and Compliance 26, no. 1 (February 12, 2018): 35–57. http://dx.doi.org/10.1108/jfrc-04-2016-0028.
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Purpose Business Model Analysis is acquiring increasing visibility in the European banking regulatory framework, following the European Banking Authority guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP), developed to assess business and strategic risks (EBA, 2014, 2015a, 2015b, 2015c). Starting from a selected literature review, in the paper, the authors analyse business models set up by financial intermediaries, bank and non-banks, for the distribution of investment services, first by comparing European niche players with European banking global players, and second, comparing European niche players among themselves to understand the evolution of business models for the distribution of investment services at European level. The research is supported by the Baffi–Carefin Research Centre at the Bocconi University (Italy), in collaboration with ANASF, the Italian Association of Financial Advisors (Italy). Design/methodology/approach The authors consider a sample of European financial players from 2009 to 2014. The authors’ focus is on France, Germany, Italy, The Netherlands, Spain and the UK; overall the authors’ handmade data set is based on 162 annual reports. The authors follow two main questions: Do the niche players, as they are focused on the distribution of investment services, have an upper limit to profitability, compared to the global players, as risk-takers in many financial areas? How is the business model of niche players changing, facing increasing competition and regulatory pressures? Findings Answering the first research question, the highest net profitability is found in the niche players group; the global players, as risk-takers, achieve lower remuneration, in contrast with the risk premium theory. The results were assessed over a limited period, however, deemed in line with the company’s strategic planning horizon. Answering the second research question, the authors focus on the case of niche players, using a cluster analysis. The authors identify three different business models: most dynamic niche players, which combine investment services, insurance and welfare services, achieving the highest margins and stability; players mainly focused on asset management, whose key vulnerability is the degree of open architecture, especially in light of future MiFID 2 implementation; and players mainly focused on the creation of well-structured on-line platforms, which offer also brokerage services, thereby reducing their marginality and potentially increasing their business risk. Research limitations/implications Despite the limited time series, the authors’ research gives some inputs for those interested in deepening the business model analysis focus on the distribution of investment services and the business and strategic risk assessment, both for the global banks and the niche players (banks and non-banks). Practical implications The authors’ results could be of some interest during the strategic assessment of global banks and niche players, both adopting an internal perspective or an external one, as regulator. Social implications By giving some specific insights into the assessment and comparison of business and strategic risks among global and niche players, the authors’ research provides the basis for further research in the field of the distribution of investment services. Originality/value The originality mainly regards the business model risk perspective and the focus of the authors’ analysis: the distribution of investment services. This sector, unlike the asset management, does not have an easily recognisable group of comparables at European level, all the European countries analysed have very different business models. This research avails of an original database, that is unique to Europe.
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Brophy, James M. "The Political Calculus of Capital: Banking and the Business Class in Prussia, 1848–1856." Central European History 25, no. 2 (June 1992): 149–76. http://dx.doi.org/10.1017/s0008938900020306.
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The emergence of commercial investment banks after the revolution of 1848 was an institutional breakthrough for modern capitalism and one of the central factors in the accelerated development of the Industrial Revolution in Germany between 1848 and 1871. The accumulation and mobilization of capital in concentrated and accessible forms was indispensable for underking such large-scale projects as railroads, coal mines, and iron works. Long-term promotional loans that enabled entrepreneurs to start up new business became a self-evident necessity in the growth of modern business. As one bank director noted, “capital, more than water, steam, or electricity, put the machines into motion.”
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Verbytska, V., and V. Bredikhin. "ASSET DIVERSIFICATION THROUGH APPLICATION HOARDING INVESTMENTS." Series: Economic science 5, no. 158 (September 25, 2020): 46–51. http://dx.doi.org/10.33042/2522-1809-2020-5-158-46-51.
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The current state and tendencies of development of hoarding investment by legal entities and the population of the country are considered in the article. It is especially important that these investments are available not only for legal entities, but also for the population, where there is a clear relationship between changes in the share of savings hoarded by private individuals and fluctuations in uncertainty, and growing investment and hoarding demand are the consequences of the financial crisis. inflation expectations, geopolitical instability and growing needs for diversification. On the basis of economic-theoretical analysis the essence, character of behavior, types and conditions of realization of hoarding investments (TI) in crisis economy are analyzed. The concept of "hoarding investments" has been clarified. The main subjects and objects of hoarding investments are identified. The objects of hoarding investments are bank metals (and coins from them) precious stones, jewelry, art objects and antiques. Available types, modern tendencies, methods and conditions of realization of hoarding investments are investigated. Coins issued by both Ukrainian and foreign banks were found to be numismatically valuable. However, foreign coins entering our market are usually issued in large numbers and, accordingly, have less numismatic value. In the United States, consumption of diamond jewelry is constantly growing due to the combination of domestic market unsaturation with well-established lending mechanisms, Europe is characterized by stagnation in the consumption of diamond jewelry, and for some countries, such as Germany, even a reduction. Hoarding investments in collectibles are specific in nature, due to their complexity, the relatively narrow market for each type of collection, the need for special knowledge and skills for proper investment. Keywords: hoarding investments, banking institutions, crisis economy, risk diversification, coins, precious stones, collectibles, profitability, interest.
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Masiukiewicz, Piotr. "Expansion of Islamic Finance in Europe." Journal of Intercultural Management 9, no. 2 (June 1, 2017): 31–51. http://dx.doi.org/10.1515/joim-2017-0007.
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Abstract The development of Islamic finance, their crisis-resistance and possibilities for using experience of this sector in conventional banking industry are being subject of studies in many countries, also non-Muslim ones. In this paper the author presented the analysis of Islamic finance development and its determinants basing on examples from Europe. Such banks and investment funds have a growing share in European markets, which is confirmed by the latest EY’s data. Main obstacles to Islamic finance development include, among others: incompatibility of legal regulations in non-Muslim countries, low demand among Islamic diaspora in Europe, shortage of qualified Sharia scholars, unsatisfactory standardization of Islamic financial products and accounting policies. International Islamic finance institutions (incl. AAOIFI and IFSB) play a significant part in overcoming them. Particularly beneficial legislative changes were introduced in Luxembourg, Germany, Russia and in the United Kingdom. Emerging of other Islamic banks, increase in number of Islamic windows in traditional banks and further development of Islamic investment funds in Europe are to be expected.
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Besley, Timothy, Miguel Coelho, and John Van Reenen. "Investing for Prosperity: Skills, Infrastructure and Innovation." National Institute Economic Review 224 (May 2013): R1—R13. http://dx.doi.org/10.1177/002795011322400101.
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What policies and institutions are needed to sustain long-run growth in the UK? We describe an optimistic story of the UK economy over the past 30 years. From the late 1970s, the UK reversed a century of relative decline in terms of per capita GDP with our main counterparts in the US, France and Germany. A key factor behind this improvement was an array of policy changes including an expansion of higher education and greater competition in product and labour markets. However, major weaknesses with respect to long-run investment in human capital, infrastructure and innovation remain. These are hampered by problems of short-termism and policy risk. We propose a series of radical reforms to address these problems: such as more flexibility in schooling with a new focus on disadvantage; a new architecture for national infrastructure decisions and more competition in banking.
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최선호 and 송승훈. "German Universal Banking Experience and Korean Investment Banking Paradigm." Journal of Contemporary European Studies 27, no. 2 (August 2009): 229–52. http://dx.doi.org/10.17052/jces.2009.27.2.229.
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Kurmanguzhin, R. S. "Kazakh Initiatives on Cooperation with European Union." MGIMO Review of International Relations, no. 1(40) (February 28, 2015): 184–92. http://dx.doi.org/10.24833/2071-8160-2015-1-40-184-192.
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The author of this article presents initiatives of the Republic of Kazakhstan to develop cooperation with the European Union that was initiated through 2000 - 2009. In 2000 the Republic of Kazakhstan proposed to EU Comment cooperation doctrine in Central Asia. The purpose of the doctrine lied in expanding cooperation in the areas of trade, economy and investment; in granting access to commodities and services from European markets; in developing collaboration in the areas of energy, transport, communication, finance and banking. In 2006 Kazakhstan introduced a new set of prepossess to the new European Union Strategy for Central Asian 2007-2013 that was developed under the chairmanship of Germany of the EU in the first half of 2007. The Strategy covered areas of cooperation such as regional integration, economic development, democratization, energy and security. In 2008 under the instructions of the President of Kazakhstan Ministry of Foreign Affairs in cooperation with other ministries developed a state programme "Path to Europe" for 2009 - 2011, which aided the priorities of cooperation between Kazakhstan and the European Union. "Path to Europe" has become a key initiative of the Kazakh foreign policy that was successfully implemented, as well as the most important document aimed at modernization of the national economy and the Kazakh society. In the beginning of2009 using the accumulated positive experience of cooperation with the EU and experience of a number of countries in Europe and Asia, Kazakhstan devised and submitted a concept of a new treaty which was supposed to replace the Partnership and Cooperation Agreement of 1995. The Republic of Kazakhstan's influence eventually persuaded the European Union to agree on the necessity of devising the Enhanced Partnership and Cooperation Agreement.
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Fohlin, Caroline. "Relationship Banking, Liquidity, and Investment in the German Industrialization." Journal of Finance 53, no. 5 (October 1998): 1737–58. http://dx.doi.org/10.1111/0022-1082.00070.
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Menrad, Michael. "Systematic review of omni-channel banking and preview of upcoming developments in Germany." Innovative Marketing 16, no. 2 (June 22, 2020): 104–25. http://dx.doi.org/10.21511/im.16(2).2020.09.
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Banks have not come to rest since the 2008 banking crisis and have been struggling for their future ever since. In addition to serious market distortions, there are increasingly digital challenges and investments in the banks’ platforms to remain competitive and continue to meet customer requirements. Other industries are showing the banks how to do it and investing heavily in the networking of distribution channels to form an omni-channel system, as this is where all interfaces converge. The banking industry has also recognized this groundbreaking approach in the distribution channel. Academic literature is also increasingly examining omni-channel management, but studies in the banking industry are still sparse. This study uses multi-method research in the form of a systematic literature review and semi-structured qualitative bank expert interviews to examine omni-channel management in the banking industry. Thereby, the state of scientific research and the future objectives of the banks are analyzed. Bank experts in Germany explain what bank customers will expect, how far German banks have progressed in implementing an omni-channel system, and how the bank-customer relationship will change. Findings show that banks will completely transform their distribution by omni-channel management by breaking with existing structures and creating a new customer experience and higher customer value. The paper provides critical insight into what omni-channel integration means for the banking sector.
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Young, George F. W. "British Overseas Banking in Latin America and the Encroachment of German Competition, 1887–1914." Albion 23, no. 1 (1991): 75–99. http://dx.doi.org/10.2307/4050543.
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In January 1912 in an article on “British Banking Interests in South America,” theSouth American Journaladvised its readers that while British banks were unquestionably profitable investments they did not have the field entirely to themselves, “for they not only had to face the competition of local, in many cases State-owned banks, but also the competition of several very successful and strong German banking companies, such as the Deutsche Bank, etc.” Nevertheless, British banks had the advantage of considerable experience in the business, an experience at that time dating back nearly fifty years. This statement gives direct expression to the theme of this paper, namely, the continuing prosperity of the British overseas banks in Latin America despite the competition of the more recently established, but nonetheless very successful, German overseas banks. Moreover, aside from the inevitable competition from local Latin American banks, it is to be noted that the only foreign competitors mentioned are the German banks. This was because the several Spanish, French, and Italian banks in the region had much more the structure and character of Latin American institutions based on investment and support from the local immigrant communities of those nations rather than the structure of overseas banks run from Europe.
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Winnefeld, Christoph H., and Anja Permantier. "FinTech - The digital (R)Evolution in the German Banking Sector?" Business and Management Research 6, no. 3 (September 20, 2017): 65. http://dx.doi.org/10.5430/bmr.v6n3p65.
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During the last years, the German banking sector has faced major changes due to significant progress in the technological sector and hence an increased digitalization in many areas. Changing consumer behavior and customer needs force credit institutions to adjust to these developments in order to maintain their competitiveness. An enlarged number of new financial technology (FinTech) corporations started providing financial services comparable to the ones conventional banks offer. In this context, especially the topic of robo-advice is becoming more and more relevant. Robo-advisors can be defined as digital platforms that provide automated, algorithm-driven financial planning services with little to no human supervision. In our article, we investigate robo-advisors as part of the FinTech movement and in particular analyze the eligibility of digital investment advisory service as potential alternative to conventional asset management. We specifically emphasize the influence that FinTech companies and innovations have on the German banking sector.
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Wilson, Rodney. "Financial Economics: Islamic Finance in Europe: Towards a Plural Financial System." Journal of Economic Literature 51, no. 4 (December 1, 2013): 1198–99. http://dx.doi.org/10.1257/jel.51.4.1183.r7.
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Rodney Wilson of Emeritus Professor, Durham University reviews, “Islamic Finance in Europe: Towards a Plural Financial System” by Valentino Cattelan. The Econlit abstract of this book begins: “Fifteen papers investigate Islamic finance in Europe as part of a plural financial system in the current age of globalization, through a multi- and interdisciplinary approach to law and economics. Papers discuss law as a kite—managing legal pluralism in the context of Islamic finance; a glimpse through the veil of Maya—Islamic finance and its truths on property rights; Islamic moral economy as the foundation of Islamic finance; financial stability and economic development—an Islamic perspective; Islamic banking contracts and the risk profile of Islamic banks; the economic impact of Islamic finance and the European Union; migrant banking in Europe—approaches, meanings, and perspectives; women's empowerment and Islam—open issues from the Arab world to Europe; Islamic banking in the EU legal framework; regulating Islamic financial institutions in the United Kingdom; Luxembourg—a leading domicile for Shari'ah compliant investments; managing Islamic finance vis-à-vis laïcité—the case of France; a critical view on Islamic finance in Germany; the development of Islamic banking in Turkey—regulation, performance, and political economy; and the move toward a plural financial system. Cattelan is Lecturer in Islamic Finance at the University of Rome ““Tor Vergata.””
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Trusova, Nataliya, and Nataliia Radchenko. "Tools of Financial Support for Agriculture Lending in Ukraine." Accounting and Finance, no. 4(90) (2020): 59–67. http://dx.doi.org/10.33146/2307-9878-2020-4(90)-59-67.
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In the course of their activities, almost every business entity faces the problem of lack of own funds. This problem is especially acute in the agricultural sector. The constraining factor in the development of bank lending to agricultural enterprises, as always, is the high cost of credit resources and significant collateral requirements, which are often not enough to cover the credit obligations of borrowers. The purpose of the article is to analyze the current state of lending to agricultural enterprises in Ukraine and to substantiate the modern instruments of financial support of crediting of agrarian sphere. The authors conducted a comparative analysis of the efficiency of agricultural enterprises, depending on their size; the structure of financial resources is analyzed and the dependence on external sources of financing is proved; an assessment of the dynamics of the volume of credit investments in the agricultural sector. Study results show that the price factor has a negative impact on the formation of credit relations of agricultural enterprises with banking institutions. According to the authors, the promising instruments of financial support for lending to agricultural enterprises include programs of cooperation with international financial organizations, including the European Investment Bank and the German-Ukrainian Fund. It was established that in Ukraine agricultural enterprises are given ample opportunities to attract credit resources. In order to intensify the lending process, it is important to continue the process of improving the mechanism of forming the value of credit resources and to start work on solving the problematic issues of securing credit obligations by agricultural enterprises. On the other hand, agricultural enterprises must work to increase their own investment attractiveness – to form a positive image; to maintain the financial stability of enterprises at the appropriate level; to develop the organizational and financial culture of the enterprise; increase production efficiency; to improve methodological approaches to drawing up business plans taking into account the requirements of international financial organizations, etc.
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Durst, Susanne. "An exploratory study of intangibles risk disclosure in annual reports of banking companies from the UK, US, Germany and Italy - Some descriptive insights." FINANCIAL REPORTING, no. 1 (July 2013): 81–120. http://dx.doi.org/10.3280/fr2013-001005.
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Intangibles are viewed as the key drivers in most industries, and current research shows that firms voluntarily disclose information about their investments in intangibles and their potential benefits. Yet little is known of the risks relating to such resources and the disclosures firms make about such risks. In order to obtain a more balanced and complete picture of firms' activities, information about the risky side of their intangibles is also needed. This exploratory study provides some descriptive insights into intangibles-related risk disclosure in a sample of 16 large banks from the United States (US), United Kingdom (UK), Germany and Italy. Annual report data is analyzed using the three Intellectual Capital dimensions. Study findings illustrate the variety of intangibles-related risk disclosure as demonstrated by the banks involved.
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Schmitt, Philipp, Bernd Skiera, and Christophe Van den Bulte. "Do Referral Programs Increase Profits." GfK Marketing Intelligence Review 5, no. 1 (May 1, 2013): 8–11. http://dx.doi.org/10.2478/gfkmir-2014-0020.
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Abstract Marketers increasingly use word of mouth to promote products or acquire new customers. But is such companystimulated WOM effective? Are customers who are referred by other customers really worth the effort? A recent study clearly says “yes”. In a study of almost 10,000 accounts at a German bank, the referred customers turned out to be 25 % more profi table than customers acquired by other means. Over a 33-month period, they generated higher profi t margins, were more loyal and showed a higher customer lifetime value. The difference in lifetime value between referred and non-referred customers was most pronounced among younger people and among retail (as opposed to private banking) customers. The reward of € 25 per acquired customer clearly paid off. Given the average difference in customer lifetime value of € 40, this amount implied a return on investment (ROI) of roughly 60 % over a six-year period. The encouraging results of this study, however, do not imply that “viral-for-hire” works in each and every case. Referral programs would be most beneficial for products and services that customers might not appreciate immediately. Products and services that imply some kind of risk would also benefit to a more than average degree from referrals because prospects are likely to feel more confi dent when a trusted person has positive experiences. Companies should consider carefully which prospects to target with referral programs and how large a referral fee to provide.
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Gonçalves, Carlos Alberto, Daniel Jardim Pardini, and Anthero de Moraes Meirelles. "Concentration of ownership and control as a governance mechanism in the Brazilian financial system." Corporate Ownership and Control 3, no. 1 (2005): 135–43. http://dx.doi.org/10.22495/cocv3i1c1p2.
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In this paper we analyse how ownership and control work in the main banks operating in Brazil. Our purpose is to identify the mechanisms through which investors try to secure the control of the corporations and the return of the capital invested. Unlike the Anglo-Saxon governance model, where the usual practice is to distribute the share capital among a large number of shareholders, or still, the Japanese or German models, with a massive participation of the banks in the control of the companies, recent research in the Brazilian companies listed in the stock exchange indicate a great volume of voting shares in the hands of a few shareholders. In the present study we seek to reveal whether this corporate governance mechanism also prevails in the Brazilian banking sector. The analysis comprised fifty of the biggest banks operating in Brazil, accounting for over 90% of the total assets of the Brazilian financial system. This study, besides revealing the levels of concentration of control and ownership of the leading Brazilian financial institutions, elucidates the corporate governance models featuring in the literature. It also explains how, in the management of the financial organizations, the investor, when making use of the mechanisms that secure their rights to ownership, guarantees the control and legal protection of his/her investment. The results of the research point to high levels of ownership concentration in the financial institutions in Brazil
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Gorin, Nazar. "Development of international economic ties of Western Ukraine in the second half of the XIX – early XX century." Ìstorìâ narodnogo gospodarstva ta ekonomìčnoï dumki Ukraïni 2019, no. 52 (2019): 155–77. http://dx.doi.org/10.15407/ingedu2019.52.155.
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The article describes the main forms and channels of international economic relations of the Western Ukrainian lands during their being in Austro-Hungary state. The role of government policy in attracting foreign investment for the development of economy of the Western Ukrainian region has been clarified. The role of railway network development in the integration of Western Ukraine economy into the world commodity-cash flows is analyzed. It was noted that the northeastern regions of the empire were developed by the central government primarily in order to obtain cheap raw materials and labor, as well as to create a market for the sale of industrial goods produced by enterprises from the central regions of the empire. It is noted that the then shaped specialization of production laid the foundations for the disproportionate development of the economy of Western Ukrainian lands in the future. Generalized sectors where foreign capital participated most, in particular: railway construction, chemical, machine building, oil and refining, electricity, sawmill, woodworking and ozokerite industry, banking and wholesaling. The role of Austrian, German, American, French and English capital in the development of individual branches of economy was tracked down. It is shown that the weakness of the competitive environment and institutional mechanisms of asset capitalization, governmental patronage for large enterprises caused the emergence and accelerated development of monopolistic tendencies in the economy of the region. The main vectors of foreign trade relations of Western Ukrainian lands are analyzed and the reasons and directions of labor migration of Ukrainians in the second half of the nineteenth – beginning of the twentieth century are highlighted.
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Lankes, Theresa. "Socially Responsible Investment after the Financial Crisis: Will SRI-Banking Win the Day in Germany?" SSRN Electronic Journal, 2014. http://dx.doi.org/10.2139/ssrn.2601964.
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Kaserer, Christoph, and Thomas Bühner. "External Financing Costs and Economies of Scale in Investment Banking - The Case of Seasoned Equity Offerings in Germany." SSRN Electronic Journal, 2000. http://dx.doi.org/10.2139/ssrn.233566.
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Markova, Olga Mikhailovna, and Elena Borisovna Starodubtseva. "DIGITAL TRANSFORMATION OF THE WORLD ECONOMY." Vestnik of Astrakhan State Technical University. Series: Economics, June 25, 2018, 7–15. http://dx.doi.org/10.24143/2073-5537-2018-2-7-15.
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In modern conditions the role of digitalization which is becoming the main factor of the development of the world economy, is growing significantly, as the competitiveness of individual countries is determined by the level of implementation of innovative banking technologies as a tool for creating digital financial ecosystems. At the same time, there are considered key indicators of bank customers activities related to Internet access and infrastructure development opportunities, the consumer demand for digital technologies, the specific application of legislative norms in this area, the development of innovations in individual countries based on additional investment in the latest technologies and digital start-ups. There is given the definition of the concept of digital economy, analysis of the development of digitalization in terms of its use in various areas: financial, production, trade, social. Within the framework of the national approach, digitization, for which a cyclical character is typical, is considered in detail. So, initially new technologies actively developed in the USA, Germany, Japan and other developed countries, but now these countries reduce the pace of growth of technological implementations, and the less developed countries, where the rates of digitalization are more significant. The article presents dividing countries in four categories, according to the growth of digitalization of the economy. In the world economy, the key to stability and high competitiveness in the long term should be the policy of continuous innovations, which requires from banks and other market participants to make quick and radical decisions that often affect their financial behavior and strategic line of development. Thus, the indicators of the involvement of countries in digital banking indicate that this type of banking activity is gaining momentum, and digitalization is currently the main vector of world development.
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Fohlin, Caroline M. "Relationship Banking, Liquidity, and Investment in the German Industrialization." SSRN Electronic Journal, 1998. http://dx.doi.org/10.2139/ssrn.139049.
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"Investment Services And Securities Across Europe - Seminar organised by the European Association for Banking and Financial Law (AEDBF) in co-operation with the Academy of European Law (ERA) and with the support of the European Union, Frankfurt (Germany), 21 November 2003." Uniform Law Review - Revue de droit uniforme 8, no. 3 (August 1, 2003): 700. http://dx.doi.org/10.1093/ulr/8.3.700.
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"Die Vermögensteuer – Ein Comeback in der Krise?" Zeitschrift für Wirtschaftspolitik 62, no. 2 (January 1, 2013). http://dx.doi.org/10.1515/zfwp-2013-0204.
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AbstractThomas Gambke describes in his article the concept of a property levy („Vermögensabgabe“) of the German Green Party in the context of other property related taxes such as real estate tax and inheritance tax. He explains the advantages of a property levy in contrast to a property tax. Moreover, the necessity to reduce public debts and to stop the unabated evolution of unequal property is outlined.Family entrepreneurs in all honesty cannot grasp this new concept, states Lutz Goebel. Just now, while we are still experiencing a worldwide financial and economic crisis that has by no means been overcome yet, there is talk of increasing taxation of assets. In recent years, small and medium-sized and larger family-run companies have succeeded in improving their equity ratio. This helped weathering the crisis better, allowed us to hold on to key specialists in our workforce and made us become more independent of a banking industry shaken to its core. And now, of all times, models are discussed to once again withdraw equity and the ability to place investments from German companies, whether directly or indirectly. Unfortunately, the people proposing these models work with smoke and mirrors, which may mislead the less informed public. Even a 1 or 1.5 % tax or levy on assets will result in an explosion of the accumulated fiscal burden on a company’s income of additionally approx. 20 %, especially since the proposed new taxes are only to be paid from profits. Excessive taxation is therefore more or less preprogrammed. Does anyone really consider the way ahead if one of the last locomotives of the European economy is thus slowed down economically?Steffen J Roth and Oliver Arentz argue that the reintroduction of a wealth tax in Germany would not contribute to more fairness in terms of the ability to pay principle. On the contrary: Since wealth in form of human capital is not taxed, a wealth tax would lead to a massive unequal treatment of people with the same ability to pay. The expected shift of the tax burden would hit low-income households in particular. Economic performance would decrease and the labour market would be negatively affected. Overall, the wealth tax cannot deliver what its promoters in the political arena promise.
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Allayannis, George (Yiorgos), Gerry Yemen, Andrew C. Wicks, and Matthew Dougherty. "Deutsche Bank and the Road to Basel III." Darden Business Publishing Cases, January 20, 2017, 1–20. http://dx.doi.org/10.1108/case.darden.2016.000090.
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This public-sourced case was named the best finance case of 2013 in the 24th annual awards and competition sponsored by The Case Centre. It was designed for and works well in the latter portion of a GEMBA Financial Management and Policies course and in the early stage of a second-year MBA elective Financial Institutions and Markets course. The case is set in mid-2012 as the new co-CEOs of Deutsche Bank are about to speak in an analyst call. Students are the decision makers and have the opportunity to evaluate the various factors affecting a bank's situation in a changing global industry, such as leverage and credit quality, as well as to discuss the implications on Deutsche Bank and the banking sector more broadly of Basel III, the global regulatory reform. The students also have the opportunity to conduct a valuation of the bank. Investors were anxious to know whether the new co-CEOs would discuss the strategy of how Deutsche Bank planned to meet the new regulatory requirements, what effect Basel III would have on the company's profitability, and what lines of business it would focus on going forward in a new banking environment. They also wanted to know more about the benefits of the 2010 majority stake investment in Postbank, a German commercial bank. In class, this discussion also allows for a broader examination of the universal bank model and the role of banks within society.
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Goebel, Lutz. "Die Vermögensteuer – Comeback in der Krise? Oder: Wie importieren wir die Krise auch zu uns?" Zeitschrift für Wirtschaftspolitik 62, no. 2 (January 1, 2013). http://dx.doi.org/10.1515/zfwp-2013-0206.
Full textAbstract:
AbstractFamily entrepreneurs in all honesty cannot grasp this new concept. Just now, while we are still experiencing a worldwide financial and economic crisis, which has by no means been overcome yet, there is talk of increasing taxation of assets. In recent years, small and medium-sized and larger family-run companies have succeeded in improving their equity ratio. This helped weathering the crisis better, allowed us to hold on to key specialists in our workforce and made us become more independent of a banking industry shaken to its core. And now, of all times, models are discussed to once again withdraw equity and the ability to place investments from German companies, whether directly or indirectly. Unfortunately, the people proposing these models work with smoke and mirrors that may mislead the less informed public. Even a 1 or 1.5 % tax or levy on assets will result in an explosion of the accumulated fiscal burden on a company’s income of additionally approx. 20 %, especially since the proposed new taxes are only to be paid from profits.Excessive taxation is therefore more or less preprogrammed. Does anyone really consider the way ahead if one of the last locomotives of the European economy is thus slowed down economically?