PSN: Financial Institutions (Topic)最新文献

{"title":"Restrictions by Object after Generics and Budapest Bank: A Road Map","authors":"Pablo Ibáñez Colomo","doi":"10.2139/SSRN.3571115","DOIUrl":"https://doi.org/10.2139/SSRN.3571115","url":null,"abstract":"The purpose of this road map is to summarise the principles underpinning the Court of Justice's approach to the evaluation of the object of agreements within the meaning of Article 101(1) TFEU.","PeriodicalId":405783,"journal":{"name":"PSN: Financial Institutions (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121707646","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}

{"title":"Diversità e inclusione nelle banche italiane: un’analisi empirica delle misure a sostegno della presenza femminile nei board (Diversity and inclusion in Italian Banks: An Empirical Analysis of Measures to Support Gender Diversity on the Board of Directors)","authors":"Diana Capone","doi":"10.2139/ssrn.3612742","DOIUrl":"https://doi.org/10.2139/ssrn.3612742","url":null,"abstract":"<b>Italian Abstract</b> Nel sistema bancario italiano a sostegno della diversità di genere coesistono misure, non prescrittive, poste dalle regole di vigilanza e misure, assistite da sanzioni in caso di inosservanza, poste dalla disciplina sulle società quotate. Si analizzano gli effetti di queste misure, rispettivamente, su banche non quotate e banche quotate, tra il 2014 e il 2018. Integrando, per le banche quotate, le informazioni disponibili negli archivi della Banca d’Italia con quelle originali raccolte dall’analisi dei curriculum vitae dei membri dei board e dalle relazioni sul governo societario, l’analisi mostra che all’aumento del numero delle donne nei board si sono associati anche un maggior coinvolgimento nelle dinamiche consiliari delle consigliere e caratteristiche più marcate di indipendenza e competenza, che le rendono potenzialmente in grado di essere più incisive nei meccanismi decisionali. Inoltre, l’incremento del numero e il miglioramento del ruolo sostanziale delle consigliere incidono positivamente su alcuni profili che sono ritenuti determinanti per l’efficacia dell’azione dei board dalla letteratura scientifica e dalla Banca d’Italia nelle Disposizioni di Vigilanza sul governo societario. Ciò apre futuri spunti per analisi quantitative che qualifichino la relazione tra presenza femminile nei board e performance aziendali tenendo conto delle caratteristiche dei componenti donna e del ruolo da loro svolto. Sotto il profilo delle scelte di policy, le evidenze raccolte sono a favore del rafforzamento delle misure in essere per le banche non quotate.<br><br><b>English Abstract</b>Two kinds of measures aimed at fostering gender diversity are applied in Italian banks: non-prescriptive measures set by supervisory rules, and binding measures set by the law on listed companies. This study analyses the effects of these measures on the composition of banks’ boards, between 2014 and 2018, comparing listed banks and unlisted banks. The analysis provides a complete picture of the impact of quotas for listed banks, by integrating supervisory information on all members of banks’ boards, gathered by the Bank of Italy, with additional information on board members’ backgrounds collected from their CVs, and with information on the structure and functioning of boards collected from the reports on corporate governance. In particular, the analysis shows that, between 2014 and 2018, the increase in the number of women on banks’ boards was associated with the enhanced independence and competence of female directors and with their stronger involvement in the work of the boards. Furthermore, the analysis shows that these improvements have had a positive impact on those board characteristics that the scientific literature and the Bank of Italy consider to be key for the effectiveness of the board in fulfilling its mandate. In terms of policy decisions, the results of the analysis suggest that the existing measures need to be strengthened for unliste","PeriodicalId":405783,"journal":{"name":"PSN: Financial Institutions (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131120447","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}

{"title":"The Effects of German Economic and Political Progress on the Sparkassen Savings Bank System","authors":"S. Corbet, C. Larkin","doi":"10.2139/ssrn.3550849","DOIUrl":"https://doi.org/10.2139/ssrn.3550849","url":null,"abstract":"Since the end of World War II, the German banking system underwent many dramatic changes, however, the Sparkassen movement has remained in its current form since 1778. Through its localised structure, it has continued to act as a cornerstone of the German economy, accounting for over a third of banking assets since 1945. This system maintained a considerable presence throughout fragile political movements after the collapse of National Socialism, the reunification of the German state and the implementation of significant economic redevelopment such as the ‘Hartz Reforms’. We test these inferences with evidence from the Sparkassen system’s influence on German savings, lending and such relationships with real wage growth. We confirm that for much of the post-war era, savings banks have been more stable over time when placed in comparison with commercial banks. We identify a causal link between wages and balance sheets that exist in savings banks and not in commercial banks throughout the post-war era.","PeriodicalId":405783,"journal":{"name":"PSN: Financial Institutions (Topic)","volume":"136 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128575286","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}

{"title":"Customers' Satisfaction in ATM Service - Empirical Evidence from the Leading Bank in Ethiopia","authors":"Yohannes Elifneh, Dr. Goulap Jagadish Brahma, Y. Girma","doi":"10.31033/ijemr.10.1.20","DOIUrl":"https://doi.org/10.31033/ijemr.10.1.20","url":null,"abstract":"Service offering channels in banking sector has emerged on scene with a variety of forms such as internet banking, mobile banking, and ATM. Mature competition and global finance system have forced to investigate the significance of customer satisfaction. This study was set to assess customers’ satisfaction in ATM service by taking the case of Commercial Bank of Ethiopia (CBE), which is the leading bank in the country, using SERVPERF model. A self-administered questionnaire was used to collect primary data from 385 valid respondents who are customers of CBE, using convenient sampling technique. Data were analysed using SPSS - frequencies and percentages, mean scores, Cronbach alpha, Pearson’s linear correlation and regression analysis. The study was based on the three research objectives: (a) to measure whether ATM service quality corresponds to each dimensions of SERVPERF (b) to analyze the customer satisfaction on ATM service quality, and c) to investigate the level of customer satisfaction. The findings revealed that all the service quality dimensions are significantly and positively associated with the overall customer satisfaction. Besides, Tangibility, Reliability, Responsiveness, Empathy and Assurance are highlighted as significant predictors and key factors in determining the customer satisfaction. But Assurance was found as the most influential predictor of customer satisfaction. The researchers recommend that in order to ensure customer satisfaction improving the performance on all the dimensions of (ATM) service quality is imperative.","PeriodicalId":405783,"journal":{"name":"PSN: Financial Institutions (Topic)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125031397","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}

{"title":"How are Bankers Paid?","authors":"Benjamin Bennett, R. Gopalan, A. Thakor","doi":"10.2139/ssrn.3404384","DOIUrl":"https://doi.org/10.2139/ssrn.3404384","url":null,"abstract":"\u0000 We empirically examine bank CEOs’ compensation. We find that bank CEOs (a) are paid less than their nonfinancial counterparts, an effect driven by the CEOs of small bank; (b) experienced declining compensation during 2007–2009 (the hardest-hit banks cut compensation more) but pay is now 24% higher than precrisis levels; (c) are paid more at larger banks, those with less nonperforming loans, those with a higher proportion of noninterest income, and those with less demand-deposit dependence; and (d) have pay highly sensitive to ROA and ROE, but not stock returns. Tail risk is higher when compensation depends more on short-term measures of performance. (JEL, F34, G32, G33, G38, K42)\u0000 Received July 3, 2019; editorial decision December 13, 2020 by Editor Andrew Ellul. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.","PeriodicalId":405783,"journal":{"name":"PSN: Financial Institutions (Topic)","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132230860","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}

{"title":"Risk-Taking Channel of Unconventional Monetary Policies in Bank Lending","authors":"Kiyotaka Nakashima, Masahiko Shibamoto, Koji Takahashi","doi":"10.2139/ssrn.3044582","DOIUrl":"https://doi.org/10.2139/ssrn.3044582","url":null,"abstract":"We investigate the effects of unconventional monetary policy on bank lending, using a bank-firm loan-level matched dataset from 1999 to 2015 by extracting exogenous changes in unconventional monetary policies over the past 20 years in Japan. We find that an increase in the share of unconventional assets held by the Bank of Japan boosts lending to firms with higher credit risks from banks with lower liquidity ratios and higher risk appetites while an expansion of the monetary lending to risky firms from banks with higher leverage.","PeriodicalId":405783,"journal":{"name":"PSN: Financial Institutions (Topic)","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129804547","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}

{"title":"Learning to Navigate a New Financial Technology: Evidence from Payroll Accounts","authors":"Emily Breza, Martin Kanz, Leora F. Klapper","doi":"10.3386/w28249","DOIUrl":"https://doi.org/10.3386/w28249","url":null,"abstract":"How do inexperienced consumers learn to use a new financial technology? We present results from a field experiment that introduced payroll accounts in a population of largely unbanked factory workers in Bangladesh. In the experiment, workers in a treatment group received monthly wage payments into a bank or mobile money account while workers in a control group continued to receive wages in cash, with a subset also receiving an account without automatic wage payments. We find that exposure to payroll accounts leads to increased account use and consumer learning. Those receiving accounts with automatic wage payments learn to use the account without assistance, begin to use a wider set of account features, and learn to avoid illicit fees, which are common in emerging markets for consumer finance. The treatments have real effects, leading to increased savings and improvements in the ability to cope with unanticipated economic shocks. We conduct an additional audit study and find suggestive evidence of market externalities from consumer learning: mobile money agents are less likely to overcharge inexperienced customers in areas with higher levels of payroll account adoption. This suggests potentially important equilibrium effects of introducing accounts at scale. \u0000 \u0000Institutional subscribers to the NBER working paper series, and residents of developing countries may download this paper without additional charge at www.nber.org.","PeriodicalId":405783,"journal":{"name":"PSN: Financial Institutions (Topic)","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129766401","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}

{"title":"Bank Complexity, Governance, and Risk","authors":"Ricardo Correa, L. Goldberg","doi":"10.2139/ssrn.3631318","DOIUrl":"https://doi.org/10.2139/ssrn.3631318","url":null,"abstract":"Abstract Bank holding companies (BHCs) can be complex organizations, conducting multiple lines of business through many distinct legal entities and across a range of geographies. While such complexity raises the costs of bank resolution when organizations fail, the effect of complexity on BHCs’ broader risk profiles is less well understood. Business, geographic, and organizational complexity can engender explicit tradeoffs between the agency problems that increase risk and the diversification, liquidity management, and synergy improvements that reduce risk. The balance of outcomes may depend on the strength of bank governance. We test these conjectures using data on large U.S. BHCs for the 1996-2018 period. Business, geographic, and organizational complexity provide diversification benefits and some reduced idiosyncratic and liquidity risk exposure. All forms of complexity tend to increase BHC systemic risks. A regulatory tightening focused on complexity reduced organizational complexity, while also curtailing systemic risk but increasing liquidity risk.","PeriodicalId":405783,"journal":{"name":"PSN: Financial Institutions (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123566753","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}

{"title":"Learning About Financial Health in Canada","authors":"A. Metzler, Yuhao Zhou, Chuck Grace","doi":"10.2139/ssrn.3507769","DOIUrl":"https://doi.org/10.2139/ssrn.3507769","url":null,"abstract":"This paper applies cluster analysis to eleven (continuous) years' worth of responses to the Canadian Payroll Association (CPA) survey of employed Canadians. The clustering algorithm clearly identifies three distinct groups of respondents. Between-group comparison of response patterns reveals that two of the groups lie on opposite sides of the financial health spectrum, and leads us to label their members \"financially stressed\" and \"financially capable\", respectively. The third group shares characteristics with both the stressed and capable groups, and we label its members as \"financially coping\". We find that financial stress is both widespread (one third of all respondents are identified as stressed) and complex (stress is only weakly related to simple demographics such as age or income). From a methodological perspective, an important point is that our use of cluster analysis allows us to generate rigorous insights into financial well-being, without having to measure it directly.","PeriodicalId":405783,"journal":{"name":"PSN: Financial Institutions (Topic)","volume":"146 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132019669","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}

{"title":"The Passthrough of Treasury Supply to Bank Deposit Funding","authors":"Wenhao Li, Yiming Ma, Yang Zhao","doi":"10.2139/ssrn.3311314","DOIUrl":"https://doi.org/10.2139/ssrn.3311314","url":null,"abstract":"We demonstrate the passthrough of Treasury supply to deposit funding through bank market power. We show that an increase in Treasury supply leads to a net deposit outflow. At the same time, reliance on wholesale funding decreases. The effect is heterogeneous in nature - banks in more competitive markets experience larger outflows. The explanatory power of Treasury supply is not driven by monetary policy and bank-specific investment opportunities. Our empirical findings are rationalized with a model of imperfect deposit competition. Consistent with The Deposits Channel of Monetary Policy, the model and empirics predict the opposite effect for Fed Fund rate hikes: there is a larger response in less competitive markets. Our results also shed light on the effect of the Reverse Repurchase (RRP) Facility on monetary policy passthrough.","PeriodicalId":405783,"journal":{"name":"PSN: Financial Institutions (Topic)","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121583544","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}