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Dissertations / Theses on the topic 'Investment banking'
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Abrahamson, Mark. "Conflicts of Interest in Investment Banking." Thesis, University of Oxford, 2010. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.508627.
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Huang, Zhangkai. "Finance, investment and monetary policy." Thesis, University of Oxford, 2002. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.270515.
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Gehle, Nadja. "Variable Vergütungssysteme im Investment Banking in Deutschland." Hamburg Diplomica Verlag, 2008. http://www.wiso-net.de/r%5Febook/webcgi?START=A60&DOKV%5FDB=DIPL,ADIP&DOKV%5FNO=9783836607520139&DOKV%5FHS=0&PP=1.
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Huang, Xian Qi. "The development of investment banking in China." Thesis, University of Macau, 1999. http://umaclib3.umac.mo/record=b1636228.
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Gehle, Nadja. "Variable Vergütungssysteme im Investment-Banking in Deutschland." Hamburg Diplomica-Verl, 2007. http://d-nb.info/987716735/04.
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Taniai, Tatsuya 1966. "IT investment allocation in Japanese banking industry." Thesis, Massachusetts Institute of Technology, 2003. http://hdl.handle.net/1721.1/17004.
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Thesis (S.M.M.O.T.)--Massachusetts Institute of Technology, Sloan School of Management, Management of Technology Program, 2003.<br>Includes bibliographical references (leaves 108-110).<br>This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.<br>In this study, we investigate and discuss IT investment and related issues in the Japanese banking industry. And we insist that banks should take account of technology trend as one of heavy IT users and switch long-term-strategy and IT-migration-strategy appropriately in order to make the best of IT. First of all, we show some back grounds of Japanese banking industry and IT revolution. Next, we show three case studies of a Japanese bank. We will find that, over the last ten years, Japanese banks have been struggling with deregulation, the IT revolution and the long resection of the Japanese economy. These external changes have made corporate strategies and traditional information systems are obsolete and inefficient. After then, we analyze IT investment allocation issues in the banking industry. As summary of our analysis, we show some key success factors and recommendation to a Japanese bank. Finally, Japanese banks should always consider Long-Term Strategy with a long-time viewpoint; during the period of IT migration, they should find a path in which they should follow based on IT Migration Strategy.<br>by Tatsuya Taniai.<br>S.M.M.O.T.
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Tipping, Malvern. "British banking-halls as a property investment." Thesis, Anglia Ruskin University, 2011. http://arro.anglia.ac.uk/211745/.
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This research is related to British banking-halls as a class of real estate investment. Sale-and-leaseback has become an increasingly common approach during the last two decades for the holding of British banking-halls. One measure used in making property investment decisions is the all risks yield (ARY). Investors and their advisors have a need for a predictive framework which they can use for predicting those retail bank premises likely to achieve the highest ARY when assembling investment portfolios of such properties. A predictive framework necessitates the identification of those factors significantly influencing the yields of British banking-halls. This research aims to develop such a framework. Triangulation methodology was adopted to establish and test the predictive framework. A literature review established theory before a qualitative study, based upon semi-structured interviews and a questionnaire, was used to establish the influencing factors. A cross-sectional study of auction data then formed the basis of the quantitative regression study. The qualitative and quantitative studies validated that four factors were significant in influencing yield. These were tenant banking company, lot size, super-region and the macro-economic cycle index. A toolkit comprising a predictive framework for those banking-halls likely to produce the highest ARY was produced. This is capable of being used by professional practitioners and investors in predicting high yield for portfolio building purposes. The predictive framework was developed based upon the quantitative data from those three banks with the most premises sold by sale-and-leaseback. It formed a baseline from which further studies can build to test its significance for other banks. Consequently, a more robust predictive framework can be developed for banking-hall investments. Further research can also be conducted to develop predictive frameworks forecasting yields for investment in other commercial retail sectors, based upon the findings of this research.
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Tipping, Malvern. "British banking-halls as a property investment." Thesis, Anglia Ruskin University, 2011. https://arro.anglia.ac.uk/id/eprint/211745/1/Tipping_Thesis_2011.pdf.
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This research is related to British banking-halls as a class of real estate investment. Sale-and-leaseback has become an increasingly common approach during the last two decades for the holding of British banking-halls. One measure used in making property investment decisions is the all risks yield (ARY). Investors and their advisors have a need for a predictive framework which they can use for predicting those retail bank premises likely to achieve the highest ARY when assembling investment portfolios of such properties. A predictive framework necessitates the identification of those factors significantly influencing the yields of British banking-halls. This research aims to develop such a framework. Triangulation methodology was adopted to establish and test the predictive framework. A literature review established theory before a qualitative study, based upon semi-structured interviews and a questionnaire, was used to establish the influencing factors. A cross-sectional study of auction data then formed the basis of the quantitative regression study. The qualitative and quantitative studies validated that four factors were significant in influencing yield. These were tenant banking company, lot size, super-region and the macro-economic cycle index. A toolkit comprising a predictive framework for those banking-halls likely to produce the highest ARY was produced. This is capable of being used by professional practitioners and investors in predicting high yield for portfolio building purposes. The predictive framework was developed based upon the quantitative data from those three banks with the most premises sold by sale-and-leaseback. It formed a baseline from which further studies can build to test its significance for other banks. Consequently, a more robust predictive framework can be developed for banking-hall investments. Further research can also be conducted to develop predictive frameworks forecasting yields for investment in other commercial retail sectors, based upon the findings of this research.
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Al-Deehani, Talla Moh'd F. F. "Understanding corporate capital investment decisions in Kuwait." Thesis, University of Bath, 1990. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.293377.
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Memtsa, Chrysi D. "Factor models, risk management and investment decisions." Thesis, Durham University, 1999. http://etheses.dur.ac.uk/4606/.
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The recent extending empirical evidence regarding the power of factor models versus the traditional CAPM has motivated the research in the current thesis. Substantial controversy has been raised over two issues: 1) Are the new factors, market value and book-to-market equity, the most important sources of risk? and 2) Is it time to consider CAPM as a useless model? Effectively, these are the main questions we attempt to address in the current research within a unified framework of firm attributes and more aspects of the econometrical applied approaches. The main findings of the empirical research in this thesis show that, firstly the beta portfolio returns exhibit the highest volatility, confirming thus the beta as the most significant risk source. Secondly, the market portfolio absorbs the excess returns of the majority of value-weighted factor portfolios which is partly attributed to the mitigation of the January effect. In the seasonality area, we identify a strong October effect with high volatility but not high returns, a phenomenon that cannot be explained with a rational story. The re-examination of the Fama and French 1992 model with corrections of econometrical problems and the application of panel data methodology reveals that the sole significant factor over all the candidate variables is the price variable. Yet, even the power of the price factor is eliminating with the application of non-linear systems where the CAPM constraints are directly validated but with a negative sign. However, the presence of negative risk premium is consistent with the valid application of CAPM in a financial world where the occurrence of bad states of world is more frequent than the presence of up markets. Overall, the results of this thesis contribute to a thorough understanding of the factor models' performance which plays a key role in the financial investment decisions. The implication is that the CAPM should be still regarded as the basic financial model in the risk-return management process.
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Wen, Zhe. "Three essays on equity issuance and investment banking." Thesis, University of Manchester, 2015. https://www.research.manchester.ac.uk/portal/en/theses/three-essays-on-equity-issuance-and-investment-banking(a6d68ec8-45e4-4f27-b73d-3f32099ad223).html.
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This thesis presents three empirical essays in the areas of equity issuance and investment banking. In the first essay, I document that an increasing number of initial public offering (IPO) firms have been allowed by their lead underwriters to conduct a seasoned equity offering (SEO) before IPO lockup expiry (pre-expiry SEO). I examine the determinants of pre-expiry SEOs and their impact on issuers' firm value. I find that issuers with stronger post-IPO stock performance and more reputable lead underwriters are more likely to issue pre-expiry SEOs. The three-day average abnormal return around the announcement day is -3.35% for pre-expiry SEOs compared to -1.70% for a control group of post-expiry SEOs. I predict that there would have been a three-day average abnormal return of -5.53% for the post-expiry control group had they conducted pre-expiry SEOs. I also find that pre-expiry SEO issuers tend to have better stock returns around IPO lockup expiry than other firms. Overall, my results suggest that it is 'better-quality' firms that are more likely to conduct pre-expiry SEOs. In the second study, I examine the impact of early IPO lockup release on issuers' decision to switch lead underwriters at their first SEO. With issuers using multiple lead underwriters, I distinguish between a complete switch (all leads are replaced) and a partial switch (at least one lead is retained). I find that none of the issuers that are allowed early release for a pre-expiry SEO completely switch underwriters at the SEO. The relative probability of a complete switch (vs. no switch) is much lower for issuers whose insiders are allowed to sell early in the open market. In the case of a partial switch, issuers tend to retain the more reputable lead underwriters. Overall, I provide strong evidence that granting issuers early IPO lockup release can help investment banks retain underwriting business. In the third essay, I document that the frequency of multiple-bookrunner SEOs increased dramatically from nearly zero in 1997 to more than 60% in 2013. With a sample of 2386 U.S. SEOs from 2001-2013, I examine the impact of multiple bookrunners on SEO offer price discounts and SEO gross spreads. After controlling for other influential factors and endogeneity or self-selection bias, I find that the offer price discount for a multiple-bookrunner SEO is 2.028% lower than that for a single-bookrunner SEO, while their gross spreads are not significantly different from each other. Overall, my results indicate that seasoned equity issuers should hire multiple bookrunners.
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Suehiro, Yasutaka 1962. "Strategic challenges of the Japanese investment banking industry." Thesis, Massachusetts Institute of Technology, 2004. http://hdl.handle.net/1721.1/17900.
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Thesis (S.M.)--Massachusetts Institute of Technology, Sloan School of Management, 2004.<br>Includes bibliographical references (leaves 86-89).<br>Since the collapse of the bubble economy in 1990, Japanese securities houses have suffered serious damage and have not been able to keep up with the progress of the global investment banking industry. During this period, foreign investment banks have grown rapidly, diversified the coverage of business, and expanded to the global market. Japanese investment banks were first developed in the late 1990s, after the "lost decade". They have competed with Japanese and foreign rivals mainly in the domestic market. This thesis explores both the external and internal strategic challenges confronting a Japanese investment bank seeking to survive and become a global player in the industry. First it confirms the findings of a recent stuffy of the Japanese investment banking industry and then explores two key lessons learned from historical experience in U.K. and U.S. financial markets. The current policy of Japanese government is also reviewed. With regard to the analysis of future challenges of Japanese investment banks, this thesis employs the game approach to understanding external challenges while the learning approach is applied to better understand internal challenges.<br>by Yasutaka Suehiro.<br>S.M.
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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.<br>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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Okposen, Samuel. "The determinants of direct overseas investment from Singapore." Thesis, London Metropolitan University, 1993. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.358237.
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Chen, Jinghan. "Foreign direct investment in China : policies and performance." Thesis, Lancaster University, 1991. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.332056.
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Qasim, Amer. "The use of the internet as an investor relations tool : the case of Jordan." Thesis, University of Aberdeen, 2010. http://digitool.abdn.ac.uk:80/webclient/DeliveryManager?pid=114451.
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This research extends our understanding of disclosure on the internet by considering a different research setting, namely Jordon. Two main objectives were addressed in this thesis; (1) to explore online status of listed companies and the extent to which websites are utilized to disclose IR-related information, and (2) to investigate factors influencing companies to have websites and to disclose IR information. The first objective involved a survey analysis in 2007. This showed that out of the 187 companies included in the survey, only 105 had active websites. A web-based scoring sheet was used to assess the level to which websites are utilized as an investor relations tool. Results revealed that websites are generally used to disseminate historical financial information that usually appears in paper based annual reports. The second objective of the study was approached through a mixed method paradigm, which employed quantitative and qualitative methods. The quantitative analysis showed that only two variables were found significant in predicting online presence; size and sector. On the other hand, the extent of web-based IR disclosure is positively significant with size, governmental ownership, institutional ownership, number of shareholders, and Banks. In addition it was found that this usage is significant and negative with company age. Semi-structured interviews with companies and market regulators were also carried out to investigate motivations and influences of online reporting. Interviewees explained that the decision to have an online presence was motivated by a desire to enhance company’s image and reputation, although the decision itself was often triggered by the decision to enter new, non-Jordanian markets. Moreover, the existence of international activities with other companies as well as merging with other international companies affected the way a company uses its website or how it updates and restructures the website’s components. In addition, management’s flexibility in facilitating the process of adopting new technologies was also pointed out by some interviewees as a factor affecting the level to which a company uses its website in general as well as for its IR activities in particular.
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Read, Tony J. "Strategic Information Technology Investment Decisions in the Banking Industry." NSUWorks, 2005. http://nsuworks.nova.edu/gscis_etd/794.
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Spending on IT has continually increased over the last 10 years within the North American retail banking industry, but debate remains as to whether organizations have seen the expected value from these IT investments. Greater management focus is being placed on evaluating and realizing shareholder value from IT investments. The challenge is to reduce IT costs from operational infrastructure and move spending to strategic IT investments for business growth and shareholder value. Banks need to develop and implement improved techniques for planning, investing, value realization, and governing strategic IT investments. The goal of the study was to investigate the strategic environment of the retail banking industry in North America and understand how banks decide upon strategic IT investments.
The study consisted of a description of the retail banking strategic environment and applied bank strategies, a literature review of how IT is used within the banks, differentiating between strategic and non-strategic investments, and a cross disciplinary literature review of financial and organizational IT investment techniques for evaluating strategic IT investments. A survey was conducted at a large bank to identify what IT investment techniques were used in practice and why techniques identified in the literature review were not being applied.
The study found that there were varying approaches to assessing strategic IT investments within the banking industry, but typical techniques deployed were traditional financial and conventional planning methods. Emerging organizational management techniques, like the balanced scorecard, proved to be more important than expected and were being actively deployed. Emerging information economics and decision support methods proved promising, but were deemed advanced and less important in the absence of more basic business measures.
The study proposes a maturity framework and 16 techniques for assessing strategic IT investments, which showed promise at the surveyed bank. Future research could consider empirically testing the framework in a longitudinal bank study, evaluating the techniques over the life of strategic projects, in addition to evaluating the framework's potential in other industries. The author hopes that the study has promoted a better understanding of bank's strategic IT investment decision-making, and the applicability of assessment techniques for effective investment management.
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Walton, Kenya Monica. "Strategies Investment Banking Leaders Use to Retain Frontline Employees." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/7443.
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Banking leaders face the loss of profitability because of low employee retention in their organizations. Retention issues negatively affect business operations and market performance. The purpose of this multiple case study was to explore strategies that investment-banking leaders use to retain frontline employees. Herzberg's 2-factor theory was the conceptual framework for this study. Data were collected through semistructured interviews with 5 banking leaders in New York and through a review of company documents on retention strategies. The data were analyzed using Yin's 5-step process of compiling, disassembling, reassembling, interpreting, and concluding data. The 3 themes that emerged from data analysis were career growth strategy, compensation strategy, and training and development strategy. The study findings indicated that banking leaders used career advancement, compensation, and training and development strategies to retain frontline employees. The implications of the study for positive social change include banking leaders' potential to reduce retention issues in organizations, lower unemployment rates, and improve the standard living in the communities they serve.
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Strüver, Sven-Carsten. "Standardbasiertes EAI-Vorgehen am Beispiel des Investment Bankings." Berlin Gito, 2006. http://deposit.d-nb.de/cgi-bin/dokserv?id=2864233&prov=M&dok_var=1&dok_ext=htm.
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Altinkilic, Oya. "An Examination of Seasoned Equity Offer Placement Effort." Diss., Virginia Tech, 2001. http://hdl.handle.net/10919/27301.
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Altinkiliç and Hansen (2000) show that underwriter spreads in seasoned equity offerings (SEOs) overwhelmingly reflect variable costs. This research attempts to begin filling the gap created by this result, as to what are the important constituents of the variable costs. In particular, I investigate the hypothesis that an important part of underwriter compensation is partial payment for anticipated market making activities in the secondary market, once the offer begins. I show that lead underwriter market making activities following an SEO are partly paid through the spread. The lower bound cost estimates show that the spreads for firms likely to require the most market making services are on average 100 basis points higher than those requiring the least services. On average, the compensation for market making activities amounts to 20% of the lead underwriter's total compensation. The results are robust to several considerations.<br>Ph. D.
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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.<br>Business, Sauder School of<br>Graduate
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Majury, Niall Charles. "Local knowledge, global markets and the geography of investment banking." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1999. http://www.collectionscanada.ca/obj/s4/f2/dsk1/tape8/PQDD_0003/NQ41226.pdf.
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Trees, Hans. "The political economy of financial regulation of US investment banking." Thesis, Durham University, 2017. http://etheses.dur.ac.uk/12265/.
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This thesis analyses the political economy of the financial regulation of US investment banking, which is an under-researched topic within the IPE of finance. Various academics claim investment banks – or “Wall Street” – have significant influence on regulatory decision-making as well as policy making more generally so that they can shape the outcomes to suit their preferences. As this thesis will show, the vast majority of these claims are not rooted in empirics. The dissertation examines the factors and circumstances that led to a de-regulatory outcome in the area of financial regulation of investment banking. Five case studies are analysed in this regard: the repeal of the Glass Steagall Act, which is split into three case studies given the length of the period of observation and complexity involved, the Commodity Futures Modernisation Act, which legalised the non-regulation of OTC derivatives markets in the USA, and the Securities and Exchange Commission’s alternative net capital rule regime and Consolidated Supervised Entities Programme. The author tests to what extent interest group based explanation, the role of ideas, the judiciary as well as regulators’ statutory authority played a role in arriving at deregulation. The thesis’s case studies span a period of fourty years. When analysing the cases, the thesis finds that investment banks’ interest groups were important in providing regulators with information, however the role of the judiciary in interpreting existing laws and thereby given them a different meaning carried as much weight in deregulatory policy outcomes as the aspect of regulators’ own regulatory amendments. Generally speaking, absent legislative change, regulators were successful in achieving their policy outcomes if they were largely aligned with the ideational consensus of the regulatory and market community and acted within their statutory authority. Regulators failed when they acted within their authority, but went against the ideational consensus of the entire regulatory and market community. The thesis shows that these episodes of de-regulation were in fact not driven by “Wall Street” and its lobbyists, but the result of complex chains of causalities in which the judiciary and regulators played major roles.
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Chuluun, Tugsjargal. "Essays on the role of peer networks in investment banking." Diss., Atlanta, Ga. : Georgia Institute of Technology, 2009. http://hdl.handle.net/1853/29641.
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Thesis (Ph.D)--Management, Georgia Institute of Technology, 2009.<br>Committee Chair: Eun, Cheol; Committee Member: Clarke, Jonathan; Committee Member: Jayaraman, Narayanan; Committee Member: Lee, Jeongsik; Committee Member: Li, Haizheng. Part of the SMARTech Electronic Thesis and Dissertation Collection.
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Chiang, Derek Mi-Hsiu. "Contingent claims analysis to irreversible, non-tradable output investment problems under uncertainty." Thesis, Imperial College London, 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.312138.
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Cho, Yong-Doo. "Financial factors and corporate investment : a microeconometric analysis of Korean manufacturing firms." Thesis, University of Oxford, 1994. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.260062.
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Chensavasdijai, Varapat. "An empirical analysis of corporate investment behaviour and financing patterns in Thailand." Thesis, University of Oxford, 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.310147.
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Al-Saeed, Mansour. "The legal protection of private foreign investment in the state of Kuwait." Thesis, University of Aberdeen, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.272267.
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Chapter III is dedicated to the discussion of the regulation of foreign investment under the Kuwaiti Commercial Laws (KCLs) concerning foreign investment, forms and legal procedures for establishing such investment in Kuwait and the appropriate legal forms for establishing private foreign investment in Kuwait are also examined. In addition, the incentives that are offered to foreign investors, according to KCLs and double taxation treaties, to which Kuwait is a party in Kuwait territory, are examined here. Chapter IV is devoted to discussing the scope and standards of protection of private foreign investment under international law, in addition to Kuwaiti domestic law. The substantive provisions on the protection of foreign investment through bilateral and multilateral investment agreements, to which Kuwait is also a party, is focused on in this Chapter. Non-commercial risk is considered the most unpredictable risk which may affect foreign investment in the host country and thus, foreign investors usually seek to insure their investments against non-commercial risk under a guarantee scheme to which the host country is a party. Because of the fact that Kuwait is a contracting party to the Inter-Arab Investment Guarantee Corporation of 1974, and the Convention on the Multilateral Investment Guarantee Agency of 1985, the most important provisions of these schemes are discussed in Chapter V. In addition, since the Kuwait government and United States have acceded to the 1989 Agreement on Investment Guarantees, which provides guarantee for American private investments in Kuwait against non-commercial risks by Overseas Private Investment Corporation (OPIC), close attention will be provided to this scheme in this Chapter. Since the availability of effective, independent, impartial and appropriate mechanisms in resolving investment disputes is considered to be a fundamental guarantee for the protection of foreign investment, the mechanisms for the settlement of disputes arising out of, or in connection with, foreign investment in Kuwait are highlighted in Chapter VI. The general conclusions and evaluations of the study are aired in Chapter VII.
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Abdulla, Jasim. "Dividends, external borrowings, and investment behaviour of the corporate sector in Kuwait." Thesis, University of Exeter, 1990. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.289799.
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Fan, Weiwei. "Household savings, relationship banking, and urbanization : three essays in economic development and finance /." View Abstract or Full-Text, 2003. http://library.ust.hk/cgi/db/thesis.pl?ECON%202003%20FAN.
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Wenzel, Jens. "Rechtsfragen internationaler Konsortialkreditverträge : deutsches und englisches Recht /." Baden-Baden : Nomos [u.a.], 2006. http://www.gbv.de/dms/spk/sbb/recht/toc/516807250.pdf.
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Samakovitis, Georgios. "Technology investment decision making : an integrated analysis in UK Internet banking." Thesis, University of Edinburgh, 2007. http://hdl.handle.net/1842/25148.
Full textAbstract:
The research addresses the problem of technological investment decision making (TIDM) in UK Banks. It focuses on Internet banking technologies and uses interviews with bank executives and industry practitioners to form a coherent understanding of how technological decisions are practically made and what, in that process, is the role of evaluation techniques. Aims are (1) to identify and explain the discord between formal and practical evaluations of technologies, (2) to review the role of expert professional groups in defining the norms of evaluation, and (3) to develop a model to reflect the reality of TIDM in UK banking. The ultimate aim is to contribute to reducing the ambiguity that notoriously characterises the evaluation of new technology. According to the theoretical framework the TIDM problem is socially constructed by expert groups (actors) who either participate in decision-making or assume roles in developing methodologies for facilitating it. Its ultimate shape is the outcome of negotiations between these viewpoints, in light of expert power positions and political advocacy. Three classes of such “actors” are identified: (1) Practitioners, namely experts in Financial Institutions, (2) Observers, academic researchers, consultants and government bodies, and (3) the Community of Received Wisdom, comprising the commonly understood views on what TIDM is and how it should be made. A novel methodological approach, Informed Grounded Theory (IGT), proposes that viewpoints are by default informed by individuals’ academic and professional training; thus, past theory should not be considered as a contaminating factor for the data and their interpretation, but as integral part of it. Key findings concern (1) the unconventional usage of financial and other formal methodologies in TIDM practice, (2) the highly political role of dominant expert groups and the resulting dynamics of their development, (3) the influence of the wider economic cycles on how technological value is perceived and (4) the changing role of the Finance function in technological investment justification. The core conclusion is that TIDM in UK banks is an act of justification and advocacy, far more than it is an assessment process; valuation techniques play an ancillary role in ascertaining views often founded on purely strategic or political grounds.
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Cook, Audrey Ciceley Heloise. "A study of identity formation in the London investment banking sector." Thesis, University of Warwick, 2008. http://wrap.warwick.ac.uk/1947/.
Full textAbstract:
This thesis seeks to investigate identity formation within the London investment banking sector in the context of career development. The sector has undergone a host of changes in the past two decades. The ‘Old City’ was distinguished by trust, reputation and stability which was informally regulated through a kinship network comprised of a social elite. De-regulation in 1986 ushered in the ‘New City’ characterised by individualistic competition, inflated capital sums, truncated careers, volatility and diversification. Existing research concerning identity has largely focussed on how ‘Old City’ class and gender relations continue to predominate and shape career opportunities. Scholars have highlighted how patterns of privilege and exclusion are reproduced through a variety of ‘performances,’ disadvantaging those who are unable to access a limited range of acceptable class and gender positions. This study takes a different starting point to explore how ‘performance’ may play a role in identity work to further careers but in a way which is attentive to the distinctive conditions of the New City. Specifically, this research explores how identity may be constructed and constantly re-worked and revised, drawing upon a range of different resources within a highly diverse setting. The thesis seeks to engage with this research agenda by applying Giddens (1984; 1991) theoretical framework on self-identity, reflexivity and performance. A longitudinal research design was used to elicit qualitative data from six senior investment bank employees, gathering accounts on changes experienced over the period of a year as well as past events. The thesis investigates how a biographical narrative was reflexively maintained via the accommodation and perpetuation of a variety of different performances within a series of social terrains. These in turn served to reproduce the broader financial institutional context. A further contribution is developed which focuses on the theoretical interplays between selfidentity, reflexivity and performance through a detailed analysis of the empirical materials.
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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.
Full textAbstract:
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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Afanasieva, Olha Borysivna, Ольга Борисівна Афанасьєва, Ольга Борисовна Афанасьева, Yuliia Hryhorivna Lapina, Юлія Григорівна Лапіна, Юлия Григорьевна Лапина, Tetiana Volodymyrivna Shcherbyna, Тетяна Володимирівна Щербина, Татьяна Владимировна Щербина, and D. A. Govorun. "Risk management, corporate governance and investment banking: the role of CRO." Thesis, Українська академія банківської справи Національного банку України, 2013. http://essuir.sumdu.edu.ua/handle/123456789/59596.
Full textAbstract:
After recent events of global financial crisis and further recession bank
boards became more disturbed about the risk governance issues. The lesson
was learned that timely risk oversight and measures to its minimization would
lead to stability of a bank. That’s why the foundation and ensuring of effective
functioning of Risk Management Committee in bank is one of the primary
goals in this context.
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Koczwara, Anna Irena. "Leadership and diversity in investment banking : explaining male and femal potential." Thesis, Goldsmiths College (University of London), 2007. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.497898.
Full textAbstract:
Although women are now entering the professions in equal numbers to men, they are still less likely to occupy senior positions, particularly in higher paid private sector organisations. This is of particular concern to many financial services organisations who have already sought to enhance opportunities for women. Despite these efforts there is a growing recognition of a need for more detailed understanding of the processes contributing to differential career progression. A socio-cognitive model of unfair discrimination (Silvester& Chapman, 1996) applied to appraisal contexts suggests two potential barriers to women reaching senior organisational positions. First, that managers use different attribution patterns to explain the behaviour of male and female staff and, secondly, that differences in the way male and female employees explain their own performance impacts on their career progress. The two barriers in this model have yet to be tested within a single organisation. This PhD aimed to do this by investigating how managers in an investment bank identify leadership potential in male and female employees. The research consisted of 5 main studies: 1) an investigation of attributions used by UK managers to explain employees' leadership potential; 2) an investigation of attributions used by UK employees to explain their own leadership potential; 3) an exploration of behaviours used by UK managers and employees to define leadership potential; 4) a validation study examining behaviours associated with leadership potential; and 5) a cross-cultural comparison of UK and US managers' explanations for employees' leadership potential. Overall, findings indicated significant differences in the way both UK and US managers identify and evaluate male and female leadership potential. Conversely, little evidence was found to suggest male and female employees were explaining their own leadership potential in different ways. Implications of these findings and practical steps to address these issues are discussed.
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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.
Full textAbstract:
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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Turner, Neil J. K. "Tenant environmental performance and property investment : the use of environmental management systems in reducing risk." Thesis, University of South Wales, 1995. https://pure.southwales.ac.uk/en/studentthesis/tenant-environmental-performance-and-property-investment(bba421ea-ccf8-448f-96cd-331424b58016).html.
Full textAbstract:
Within the property research community consideration of environmental risk in relation to a tenant's polluting activities has received little attention. Whilst the profession has begun to address environmental issues through various research initiatives, the study of current land uses causing environmental problems and, m particular, the consequences for property investors, is at a very early stage. Through the literature review, and the major empirical project undertaken in the course of this research, significant advancements have been made in this area. It has been possible to establish the following: that the property investment portfolios of financial institutions and property investment companies are unlikely to be completely devoid of properties occupied by tenants capable of causing environmental damage; where such damage occurs an increasing body of opinion suggests that landlords could be held criminally liable for fines and/or statutory clean up costs; even where the tenant has sole liability (perhaps because the liabilities arise from activities the tenant has undertaken at another site) there are income security repercussions for the property investor. Site specific case studies, where industrial properties were inspected by the researcher and discussed with environmental auditors, played an important part in obtaining the information to support these findings. Consequently, improvements in the environmental performance1 of tenants occupying their properties, possibly, through the implementation of an environmental management system (EMS), will provide investors with a less risky property investment vis a vis other similar property investment opportunities occupied by tenants displaying low levels of environmental awareness. The empirical work within this thesis also found that property investors are beginning to acknowledge the concept of EMSs by considering it in the stock selection process. The research introduces a new consideration into the catalogue of property investment risks, namely, the environmental performance of the tenant and the role of environmental management systems therein. This strengthens the existing academic literature on property investment risk, and as such provides an original and significant contribution to this field of knowledge.
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Fifield, Suzanne G. M. "Portfolio investment in emerging stock markets : an empirical analysis of the gains from diversification." Thesis, University of Dundee, 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.340672.
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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.
Full textAbstract:
Thesis (MBA)--Stellenbosch University, 2003.<br>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.<br>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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Ageba, Gebrehiwot. "Financial liberalisation in Ethiopia : a firm level analysis of credit allocation, financial constraints and investment." Thesis, University of Oxford, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.243464.
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Hsia, Marshall. "Corporate investment strategies and the demand for commercial property : the implications of European market integration." Thesis, University of Reading, 1992. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.359251.
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McGrath, Michael Peter. "Decision making in unfamiliar problem domains : evidence from the investment banking industry." Thesis, Cranfield University, 2004. http://hdl.handle.net/1826/3857.
Full textAbstract:
This research explores the determinants of risk behaviour when an organisation
operates outside its normal operational domain. Organisations are being forced
outside their normal operational domains with ever-increasing frequency.
Through studying a banking acquisition, an area which has not been studied
before, the research identifies the risks faced by the organisation, the apparent
irrational management of the risks, and the reasons for this behaviour.
The research applies multiple research methods, which include the review of
company documentation, interviews with key managers and external experts, a
modified Delphi technique, case studies and statistical analysis. Through these
methods, the risks faced by the organisation are identified and evaluated in terms
of probability, impact, and degree of mitigation. Four risks are investigated in
detail, and based on these, six propositions are put forward, four of which are
support by statistical tests.
The research shows that where the organisation had a successful outcome history
in managing a given risk, or could manage the risk using normal management
controls, the risk tended to be managed disproportionately well compared to its
significance. Where those conditions do not apply the management of the risk
tends to be proportionately lacking. There is also evidence to suggest that the
existence of industry-specific regulation in relation to a risk results in the risk
being better mitigated. Organisations wishing to improve their risk response in unfamiliar operational
domains should therefore consider day-to-day controls as one route to
improvement. Also, where possible, they should try to create a history of
successful outcomes in dealing with the risk types they are likely to face in
unfamiliar problem domains. Regulatory bodies need to consider the impact that
their regulations will have in order to help organisations exhibit better behaviours
in unfamiliar problem domains.
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Dobra-Kiel, Alexandra. "Emotions and behavioural ethics : the case of asset management and investment banking." Thesis, University of Warwick, 2017. http://wrap.warwick.ac.uk/102075/.
Full textAbstract:
This PhD Dissertation, structured by essays, aims to contribute to the field of emotions and behavioural ethics by spanning across disciplinary boundaries and methodological approaches. The ‘General Introduction’ provides a background as well as an overview of the contributions of this PhD Dissertation. The first essay provides the first systematic review on emotions and ethical decision-making, based on 38 empirical studies published between 2008 and 2017. At a methodological level, it reflects on the research methods that have been deployed so far to validate the study of the role of emotions on ethical decision-making. At a content level, it outlines the impact, in terms of outcomes, of different categories of emotions on ethical decision-making, through developing a 2x2 matrix of categories and outcomes. It concludes by recommending future thematic research avenues at both a methodological and content-level. The second essay provides the first exploratory study of implicit ethical behaviour and integral emotion responses in the asset management industry, through critical incident interviews with 38 elite fund managers in top-tier and boutique asset management companies in the UK. The latent thematic analysis of the interviews, guided by an essentialist paradigm, contributes to a contextualised elaboration of theory by developing a framework linking dimensions of ethical behaviour (i.e., authenticity and responsibility) with emotion responses (i.e., control and motivation). It contributes to the literature on ethical theories/value orientation, emotion regulation and appraisal theories by highlighting congruencies and incongruencies with existing research. The third essay provides a group-level psychosocial analysis of ethical risk on both a conscious and unconscious tier. Furthermore, it identifies how emotional contagion and RegTech (i.e., regulatory technology) efficiency affect ethical risk. It develops a mid-range model of ethical risk, alongside a typology of ethical behaviour and risk, and discusses theoretical and managerial implications.
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Delmenico, Giorgio Dario. "Disinvestments predictive model in the banking sector." Master's thesis, Instituto Superior de Economia e Gestão, 2021. http://hdl.handle.net/10400.5/23401.
Full textAbstract:
Mestrado Bolonha em Mathematical Finance<br>The churn rate, also known as the rate of attrition or customer churn, is the rate at which customers stop doing business with an entity. It is most commonly expressed as the percentage of service subscribers who discontinue their subscriptions within a given time period. It is also the rate at which employees leave their jobs within a certain period. For a company to expand its clientele, its growth rate (measured by the number of new customers) must exceed its churn rate. This phenomenon applies in the bank industry in two different ways: - Of course, we have clients churn, well described before, it’s simply the process that sees the departure of client who closes every link with the previous bank to open a new bank account and any other product with a new institute - We experience also what is called the Money-Churn, phenomenon of disinvestments from investing funds for any reason. More than ever this last process has been controlled and analyzed due to the medical and economic situation that we are experiencing since March 2020. Covid19 has changed the customers relationships with their own bank, long quarantine periods have increased the need for liquidity and the fear for the performance of financial markets. Many banks have seen large amounts of capital come out of their pockets for these reasons without being prepared to respond effectively. Obviously, no one was equipped for the scenario that suddenly emerged but once again: 'Life is 10% what happens to me and 90% how I react to it'. I am proud to say that I am part of a banking group that from the very beginning has been at the service of its customers, creating opportunities and immediate help for those most affected by the consequences of this pandemic. What we are describing in this report is a process of building a system to flag up those clients most at risk of disinvestment and this is just a small part of a much larger project that will be called Close to the Client in which other teams such as product development, commercial marketing and management control will be involved.<br>info:eu-repo/semantics/publishedVersion
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Sawitzki, Martin. "The Effects of Structured Products." St. Gallen, 2007. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/05600523001/$FILE/05600523001.pdf.
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Mark, Daniel L. "Investment technolgy for trading business delineating requirements, processes, and design decisions for order-management systems /." [Denver, Colo.] : Regis University, 2008. http://165.236.235.140/lib/DMark2008.pdf.
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Voridis, Hercules. "Consequences of pervasive regulation in the financial system : the example of private fixed investment in Greece 1958-1985." Thesis, London School of Economics and Political Science (University of London), 1990. http://etheses.lse.ac.uk/1096/.
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This thesis examines the impact of pervasive regulation in the financial system on the economy, in general, and on private investment activity, in particular. A survey of the relevant literature concentrates on the issue of the arguments for, and against, financial deregulation. A macroeconomic growth model is analysed which focuses on the implications of an abrupt rise in the (private) debt service burden, following a removal of interest rate ceilings. Subsequently, selected models of investment are estimated on Greek annual data covering the period 1958-1985. The aim of the empirical work is to detect the effects of the elaborate controls imposed on the Greek banking system. (The possibility of such effects, and associated policy implications, were discussed in the preceding, theoretical, part of the thesis.) Particular effort has been expended to generate the appropriate series required for the estimations, especially those relating to the fiscal factors which influence investment behaviour. The empirical results reveal the important role of policy induced financial rationing in the determination of aggregate investment in Greece.
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Sheikh, Abod Sheikh Ghazali. "Mobilisation of Muslim financial resources for investment in the Malaysian capital market : an analysis of the Bumiputera investors." Thesis, Durham University, 1995. http://etheses.dur.ac.uk/1122/.
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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.
Full textAbstract:
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.