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International Journal of Financial Services Management最新文献

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Financial well-being, risk avoidance and stock market participation 财务健康，风险规避和股票市场参与
International Journal of Financial Services Management Pub Date : 2019-09-23 DOI: 10.1504/ijfsm.2019.10024217
Sreeram Sivaramakrishnan, Mala Srivastava
{"title":"Financial well-being, risk avoidance and stock market participation","authors":"Sreeram Sivaramakrishnan, Mala Srivastava","doi":"10.1504/ijfsm.2019.10024217","DOIUrl":"https://doi.org/10.1504/ijfsm.2019.10024217","url":null,"abstract":"The purpose of this study is to understand the influences of risk avoidance and financial well-being on the intention to invest in equity products. Risk avoidance - a reflective construct was measured using a seven-item scale while financial well-being, also a reflective construct was measured using an established eight-item scale. Survey data for urban, retail, middle-class investors was collected across four cities in India. This was then analysed using PLS-SEM and it was found that financial well-being and risk avoidance have a negative influence on the intention to invest in equity products. The finding regarding risk avoidance and intention to invest corroborated earlier studies. A counterintuitive finding was that financial well-being or the feeling of financial security does not embolden an investor to invest in the stock markets rather it seems to prove a deterrent for stock market participation. This suggests that financial institutions may need to highlight gaps in financial security of households or use other creative means of communication to increase stock market participation.","PeriodicalId":174638,"journal":{"name":"International Journal of Financial Services Management","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129499905","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
Corporate governance practices of banks in developed countries after the financial crisis of 2008 2008年金融危机后发达国家银行的公司治理实践
International Journal of Financial Services Management Pub Date : 2019-09-23 DOI: 10.1504/IJFSM.2019.10023051
N. Ayadi
{"title":"Corporate governance practices of banks in developed countries after the financial crisis of 2008","authors":"N. Ayadi","doi":"10.1504/IJFSM.2019.10023051","DOIUrl":"https://doi.org/10.1504/IJFSM.2019.10023051","url":null,"abstract":"This paper suggests a classification of 30 banks of four member countries of the euro zone, according to their governance practices, through a principal component analysis. The governance convergence mechanisms of the 30 banks in four countries in 2009 were analysed on the basis of a consistent measurement with this approach. Bringing banks together according to the directors' compensation seems more appropriate to identify the similarities in the behaviour. This will lead us to classify banks into three categories: the first consists of the banks that award a very high incentive pay to their CEO, the second group provides a high compensation to the CEO and the third category gives a relatively low compensation to their CEO.","PeriodicalId":174638,"journal":{"name":"International Journal of Financial Services Management","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122325929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Barriers to adopting internet banking: analysing the influence of information availability and consumer demographics 采用网上银行的障碍:分析信息可用性和消费者人口统计的影响
International Journal of Financial Services Management Pub Date : 2018-08-09 DOI: 10.1504/ijfsm.2018.10015119
Vikas Chauhan, Vipin Choudhary
{"title":"Barriers to adopting internet banking: analysing the influence of information availability and consumer demographics","authors":"Vikas Chauhan, Vipin Choudhary","doi":"10.1504/ijfsm.2018.10015119","DOIUrl":"https://doi.org/10.1504/ijfsm.2018.10015119","url":null,"abstract":"The present research aims to analyse the barriers that impact consumers' intention to adopt internet banking with the influence of information availability. The study has also investigated the demographic effect on perceived barriers toward internet banking. The data were collected through a self-administered questionnaire from 305 non-users of internet banking in India. A two-step SEM approach, i.e. measurement model and structural model, was used for analysing the data. The finding shows the significant negative relationship between perceived barriers to innovation (usage, value, risk, image and tradition barriers) with intention to adopt internet banking. Availability of information (guiding and security information) was found to have a significant positive relationship with intention to use internet banking and significant negative relationship with perceived barriers. Demographic variables were also found to have significant effect on perceived barriers. The study provides a structural model for barriers to using internet banking.","PeriodicalId":174638,"journal":{"name":"International Journal of Financial Services Management","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116937771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Furthering inclusive banks and inclusive capital markets: emerging markets' perspective 推进包容性银行和包容性资本市场:新兴市场视角
International Journal of Financial Services Management Pub Date : 2018-08-09 DOI: 10.1504/IJFSM.2018.10015122
J. Ababio, K. A. Osei, G. Bokpin, Eric Osei‐Assibey
{"title":"Furthering inclusive banks and inclusive capital markets: emerging markets' perspective","authors":"J. Ababio, K. A. Osei, G. Bokpin, Eric Osei‐Assibey","doi":"10.1504/IJFSM.2018.10015122","DOIUrl":"https://doi.org/10.1504/IJFSM.2018.10015122","url":null,"abstract":"This paper examines how increased financial inclusion fosters an inclusive banking sector and capital market, and whether they in turn promote more financial inclusion in emerging markets. The System-GMM technique and Panel Granger Causality Test were employed for the analyses. The paper provides empirical evidence that financial inclusion enhances the banking sector, the bond and stock markets inclusiveness. Besides, the Panel Granger Test results show a uni-causality linkage for banks and the stock market, while it confirmed a bi-causality linkage between banks and the bond market in emerging markets. It concludes that increased financial inclusion promotes inclusive banks and capital markets, but the reverse does not apply to the stock market. The findings imply that greater financial inclusion is needed in building inclusive banks and capital markets in emerging markets. Their policy-makers must not ignore the large local population and enterprises when mobilising savings, capital resources and allocating credit facilities.","PeriodicalId":174638,"journal":{"name":"International Journal of Financial Services Management","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125303589","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Investigating the factors affecting the performance of offshore high-yield bond funds 研究影响离岸高收益债券基金业绩的因素
International Journal of Financial Services Management Pub Date : 2018-08-09 DOI: 10.1504/IJFSM.2018.10015121
Yensen Ni, Paoyu Huang, Yaochia Ku, Yuhsin Chen
{"title":"Investigating the factors affecting the performance of offshore high-yield bond funds","authors":"Yensen Ni, Paoyu Huang, Yaochia Ku, Yuhsin Chen","doi":"10.1504/IJFSM.2018.10015121","DOIUrl":"https://doi.org/10.1504/IJFSM.2018.10015121","url":null,"abstract":"We investigate the factors affecting the performance of offshore high-yield bond funds and reveal two impressive findings, which might contribute to the existing literature. First, we disclose that the funds registered in Luxembourg perform better than those registered in Ireland, which seems unrevealed in the existing literature. Second, we show that the funds with high volatilities might not have better performance. We infer that high volatilities incorporating systematic and unsystematic risks might not enhance bond returns, even though we reveal that systematic risks would enhance bond returns in this study.","PeriodicalId":174638,"journal":{"name":"International Journal of Financial Services Management","volume":"38 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120910381","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
South African financial planners' perceptions on professionalism: an exploratory study 南非理财规划师对专业精神的认知:一项探索性研究
International Journal of Financial Services Management Pub Date : 2018-08-09 DOI: 10.1504/IJFSM.2018.10015125
T. Matchaba-hove
{"title":"South African financial planners' perceptions on professionalism: an exploratory study","authors":"T. Matchaba-hove","doi":"10.1504/IJFSM.2018.10015125","DOIUrl":"https://doi.org/10.1504/IJFSM.2018.10015125","url":null,"abstract":"Since the introduction of the Financial Advisory and Intermediary Services Act 37 of 2002, and the Treating Customers Fairly (TCF) outcomes in 2014, South Africa's financial planning industry has been undergoing the process of becoming a professionalised industry, meeting international standards and benchmarks. Professionalism is an important aspect of being a financial planner in the current climate of treating clients fairly. The purpose of this study was to investigate the factors influencing financial planners' perceptions of professionalism. A conceptual model for assessing the factors that may have an influence on a financial planner's perceptions of professionalism was proposed. A quantitative research approach was implemented to test the model. The findings indicated that interactions with clients, pride in the profession, and interactions with colleagues had a significant influence on a financial planner's perceptions of professionalism.","PeriodicalId":174638,"journal":{"name":"International Journal of Financial Services Management","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121508905","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Minimal required rate of return for ex-ante profitability calculation of bank medium-sized enterprises clients 银行中小企业客户事前盈利能力计算的最低要求收益率
International Journal of Financial Services Management Pub Date : 2018-08-09 DOI: 10.1504/IJFSM.2018.10015120
Štěpánka Křečková
{"title":"Minimal required rate of return for ex-ante profitability calculation of bank medium-sized enterprises clients","authors":"Štěpánka Křečková","doi":"10.1504/IJFSM.2018.10015120","DOIUrl":"https://doi.org/10.1504/IJFSM.2018.10015120","url":null,"abstract":"This article summarises and analyses various approaches for determination of minimal rate of return that should be required from provided credit exposures to bank clients in order for a value added for the bank shareholders to be created. The most widely used measurement for the so called ex-ante profitability calculation of bank's clients is currently Risk Adjusted Return on Capital (RAROC), which is then compared to the required rate of return. The article shows, on a hypothetical example, one of the ways of this target return estimation that could be applicable in practice, is its determination through forecast Economic Value Added (EVA). On the sample of medium-sized enterprise clients of a bank operating on the market in the Czech Republic, the article shows that using EVA for ex-ante profitability calculation can be of more informative value than using RAROC.","PeriodicalId":174638,"journal":{"name":"International Journal of Financial Services Management","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128670153","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Can Information Disclosure Technology Improve Investment Efficiency? — Empirical Evidence from China 信息披露技术能提高投资效率吗?——来自中国的经验证据
International Journal of Financial Services Management Pub Date : 2018-06-26 DOI: 10.2139/SSRN.2403482
Songsheng Chen, Sophie X. Kong, Shaodong Luo
{"title":"Can Information Disclosure Technology Improve Investment Efficiency? — Empirical Evidence from China","authors":"Songsheng Chen, Sophie X. Kong, Shaodong Luo","doi":"10.2139/SSRN.2403482","DOIUrl":"https://doi.org/10.2139/SSRN.2403482","url":null,"abstract":"We study the impact of adopting a new financial reporting technology, XBRL (eXtensible Business Reporting Language) on firms' investment efficiency in the Chinese market. Our primary finding is that adoption of XBRL is associated with improvement in investment efficiency. Specifically, XBRL implementation significantly curbs both under- and over-investment for all listed Chinese firms and the impact on over-investment is six to nine times larger than that on under-investment. This negative association of XBRL adoption and investment inefficiencies is robust after controlling for firms' financial constraints as well as whether a firm is SOE (state-owned-enterprise), both of which affect a firm's availability of capital and thus investment efficiency.","PeriodicalId":174638,"journal":{"name":"International Journal of Financial Services Management","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116129964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Personal touch or convenient tech? An investigation of customer channel preferences in retail banking 个人接触还是便捷的科技?零售银行客户渠道偏好调查
International Journal of Financial Services Management Pub Date : 2018-06-26 DOI: 10.1504/IJFSM.2018.10014031
M. Ayyagari, S. Parahoo
{"title":"Personal touch or convenient tech? An investigation of customer channel preferences in retail banking","authors":"M. Ayyagari, S. Parahoo","doi":"10.1504/IJFSM.2018.10014031","DOIUrl":"https://doi.org/10.1504/IJFSM.2018.10014031","url":null,"abstract":"In a highly competitive sector like banking, services are provided through multiple channels (e.g. branch services, online, smartphones, and ATMs) to meet varied customer preferences. Despite the recognised importance of these different channels, few studies have investigated the relative contribution each channel makes to customer satisfaction and to relationship continuity. The objective of the present exploratory study is therefore to examine the relative impact of three factors (ATM, face-to-face interaction and tangibles) as independent constructs on customer satisfaction and customer relationship continuity intention. Using a sample of 152 banking customers in Dubai, the study unearthed an important finding that interaction with the customer service representatives (CSRs) was the key determinant of customer satisfaction and continuity intention, while ATMs and branch tangibles did not have a significant effect on these two outcomes. Therefore, the role of CSR is paramount for banks in satisfying and retaining customers. Implications for theory and practice are discussed, and directions for further research are charted out.","PeriodicalId":174638,"journal":{"name":"International Journal of Financial Services Management","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130121944","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Efficiency measurement of open-ended mutual fund schemes with respect to Indian mutual fund industry 开放式共同基金计划对印度共同基金行业的效率衡量
International Journal of Financial Services Management Pub Date : 2018-06-26 DOI: 10.1504/IJFSM.2018.10014033
S. Goel, Mukta Mani
{"title":"Efficiency measurement of open-ended mutual fund schemes with respect to Indian mutual fund industry","authors":"S. Goel, Mukta Mani","doi":"10.1504/IJFSM.2018.10014033","DOIUrl":"https://doi.org/10.1504/IJFSM.2018.10014033","url":null,"abstract":"This paper investigates whether Indian mutual funds are performing efficiently and explores the corrective measures to improve their performance. It analyses 143 mutual fund schemes for 11 years through Data Envelopment Analysis (DEA) methodology by carrying out five DEA runs. Sharpe ratio and Jensen's alpha are the output and load fee, expense ratio, minimum initial investment needed and risk (β and α) are the inputs. Empirical analysis shows that fewer mutual fund schemes are performing efficiently and need to reduce their load and expense ratio. Also, maximum number of efficient schemes is of ELSS investment style followed by Income, Growth and Balance. DEA provides a set of peer group for each inefficient scheme and the targeted value of inputs has been computed. The present study is an exhaustive one and is useful for retail investors, mutual fund companies and policy makers.","PeriodicalId":174638,"journal":{"name":"International Journal of Financial Services Management","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133568947","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
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