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FinTech regulation and the development of the FinTech sector in the European Union 金融科技监管和欧盟金融科技行业的发展
Journal of Banking and Financial Economics Pub Date : 2023-09-20 DOI: 10.7172/2353-6845.jbfe.2023.1.3
Radosław Ciukaj, Mateusz Folwarski
{"title":"FinTech regulation and the development of the FinTech sector in the European Union","authors":"Radosław Ciukaj, Mateusz Folwarski","doi":"10.7172/2353-6845.jbfe.2023.1.3","DOIUrl":"https://doi.org/10.7172/2353-6845.jbfe.2023.1.3","url":null,"abstract":"The aim of the article is to identify the relationship between the level of regulation of various segments of the FinTech industry and the level of development of this sector. To address this research problem, the paper analyses the scope of regulation in 14 segments of the FinTech sector, and based on that, develops the FinTech Regulation Index for the individual European Union countries. Then, the paper uses this index to examine if there is a relationship between the level of regulation and the level of FinTech development in the various European Union countries. The econometric analysis confirmed the initial hypothesis that there is a significant relationship between the level of FinTech sector regulation and the level of its development.","PeriodicalId":472375,"journal":{"name":"Journal of Banking and Financial Economics","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136377803","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
Determinants of Liquidity Risk in the Countries of the European Economic Area 欧洲经济区国家流动性风险的决定因素
Journal of Banking and Financial Economics Pub Date : 2023-09-20 DOI: 10.7172/2353-6845.jbfe.2023.1.6
Agnieszka Wysocka
{"title":"Determinants of Liquidity Risk in the Countries of the European Economic Area","authors":"Agnieszka Wysocka","doi":"10.7172/2353-6845.jbfe.2023.1.6","DOIUrl":"https://doi.org/10.7172/2353-6845.jbfe.2023.1.6","url":null,"abstract":"The paper documents cross-country variation in the relationship between the deposit insurance scheme and liquidity risk in banks and explores the banking sector specific and macroeconomic determinants that can explain the variation. There is a lack of articles exploring the phenomenon in Europe, authors studying the issue focus on the United States and other parts of the world, so it is difficult to apply their results to Europe. The results of their research are also ambiguous. Using data from 28 countries of the European Economic Area by means of panel regression calculated with the use of GLS estimator with random effects, I established that an increase in deposit insurance coverage reduces the risk of liquidity. The study provides new information to help evaluate deposit insurance schemes across EEA countries.","PeriodicalId":472375,"journal":{"name":"Journal of Banking and Financial Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136374875","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
Effect of introduction of German and Hungarian bank levies on banks’ risk-taking behavior 德国和匈牙利引入银行税对银行冒险行为的影响
Journal of Banking and Financial Economics Pub Date : 2023-09-20 DOI: 10.7172/2353-6845.jbfe.2023.1.1
Karolina Puławska
{"title":"Effect of introduction of German and Hungarian bank levies on banks’ risk-taking behavior","authors":"Karolina Puławska","doi":"10.7172/2353-6845.jbfe.2023.1.1","DOIUrl":"https://doi.org/10.7172/2353-6845.jbfe.2023.1.1","url":null,"abstract":"Policymakers introduce bank levies (BLs) to reduce the probability of crises. In this study, we evaluate the effects of the Hungarian and German BLs implemented in 2010 and 2011, respectively, on the banks’ risk-taking behavior. Our analysis compares two completely different BL designs. The German BL is designed to increase as banks’ total liabilities increase, while the Hungarian BL is assessed on total assets. The results unambiguously demonstrate that a BL on assets increases banks’ credit risk. The results of analyzing the influence that introducing BLs has had on the German banking sector demonstrate that BL on liabilities decreases banks’ credit risk. An improved understanding of the impact of regulation on the risky activity of EU banks is very important for a wide range of financial market participants, including borrowers, shareholders regulators and supervisors, especially during turbulent times caused by the COVID-19 pandemic and the Russian war in Ukraine.","PeriodicalId":472375,"journal":{"name":"Journal of Banking and Financial Economics","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136377804","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: 1
Bank Lending Channel Effectiveness – Potential Lessons For Monetary Policy 银行贷款渠道的有效性——货币政策的潜在教训
Journal of Banking and Financial Economics Pub Date : 2023-09-20 DOI: 10.7172/2353-6845.jbfe.2023.1.8
Filip Świtała, Iwona Kowalska, Karolina Malajkat
{"title":"Bank Lending Channel Effectiveness – Potential Lessons For Monetary Policy","authors":"Filip Świtała, Iwona Kowalska, Karolina Malajkat","doi":"10.7172/2353-6845.jbfe.2023.1.8","DOIUrl":"https://doi.org/10.7172/2353-6845.jbfe.2023.1.8","url":null,"abstract":"The article supplements the research on the effectiveness of monetary policy transmission – especially through the bank lending channel. The current study focuses on assessing the transmission of monetary impulses through commercial and cooperative banks as well as through individual loan portfolios, while distinguishing between the fact that they were granted by commercial and cooperative banks. How a change in the central bank’s interest rates may determine a change in the volume of loans in the economy remains the core question of the research.","PeriodicalId":472375,"journal":{"name":"Journal of Banking and Financial Economics","volume":"164 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136375044","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
Millennials’ willingness to pay for socially responsible investment and its institutional and individual antecedents – evidence from Italy, Poland, and Ukraine 千禧一代为社会责任投资付费的意愿及其机构和个人背景——来自意大利、波兰和乌克兰的证据
Journal of Banking and Financial Economics Pub Date : 2023-09-20 DOI: 10.7172/2353-6845.jbfe.2023.1.7
Anna Doś, Monika Foltyn-Zarychta, Matteo Pedrini, Iryna Shkura
{"title":"Millennials’ willingness to pay for socially responsible investment and its institutional and individual antecedents – evidence from Italy, Poland, and Ukraine","authors":"Anna Doś, Monika Foltyn-Zarychta, Matteo Pedrini, Iryna Shkura","doi":"10.7172/2353-6845.jbfe.2023.1.7","DOIUrl":"https://doi.org/10.7172/2353-6845.jbfe.2023.1.7","url":null,"abstract":"The readiness to sacrifice profit while making socially responsible investments among millennials, as future investors and managers, was examined. Specifically, a multi-level perspective on willingness to pay for socially responsible investment was assumed to understand how nationality, personal values and investment knowledge affect millennials' readiness to sacrifice profit to achieve sustainability goals. Using survey data of 521 business students from Italy, Poland and Ukraine, it is showed that a considerable share of millennials prefer social and environmental performance of investment over financial return and that their nationality is the most powerful factor in explaining willingness to pay for socially responsible investment along with their sensitivity to environmental issues that takes the leading role among all personal values motivating investors to accept lower rates of return. The results can be relevant for financial institutions aiming at developing socially responsible investment products. Policy implications of the results are insights into nationality-related tensions while Europe-wide regulation of socially responsible investment could enter into force.","PeriodicalId":472375,"journal":{"name":"Journal of Banking and Financial Economics","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136375043","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
Efficiency of the banking sector in Poland compared to other countries in the region 与该地区其他国家相比，波兰银行业的效率
Journal of Banking and Financial Economics Pub Date : 2023-09-20 DOI: 10.7172/2353-6845.jbfe.2023.1.4
Anna Filipek, Krzysztof Spirzewski
{"title":"Efficiency of the banking sector in Poland compared to other countries in the region","authors":"Anna Filipek, Krzysztof Spirzewski","doi":"10.7172/2353-6845.jbfe.2023.1.4","DOIUrl":"https://doi.org/10.7172/2353-6845.jbfe.2023.1.4","url":null,"abstract":"The banking system is one of the most important components of the financial systems on which modern economies are largely based. The occurrence of instability in this area may lead to serious economic problems. Therefore, the interest of researchers in this area has been focused mainly on assessing the effectiveness and efficiency of the banking sector, which will allow for identifying possible areas for improvement. In this paper, we discuss the use of efficiency as one of the basic measures used to assess the functioning of the banking sector. The aim of this study is to examine the efficiency of the banking sector in Poland, and then to compare the obtained results with selected countries of the region in 2014–2018. The paper presents theoretical considerations in the field of the financial system, the banking system and the efficiency of entities. In the empirical part of the paper, we conducted our own research on the efficiency of the banking sector in Poland using the DEA (Data Envelopment Analysis) method. The results were compared with those obtained in selected countries in the region. The selected countries of the region are: Bulgaria, the Czech Republic, Estonia, Croatia, Hungary, Lithuania, Latvia, Romania and Slovakia.","PeriodicalId":472375,"journal":{"name":"Journal of Banking and Financial Economics","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136377805","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
Cash usage in Poland in 2020: Insights into the role of the COVID-19 pandemic and spatial aspects 2020年波兰现金使用情况:洞察2019冠状病毒病大流行和空间方面的作用
Journal of Banking and Financial Economics Pub Date : 2023-09-20 DOI: 10.7172/2353-6845.jbfe.2023.1.5
Radoslaw Kotkowski, Arkadiusz Manikowski
{"title":"Cash usage in Poland in 2020: Insights into the role of the COVID-19 pandemic and spatial aspects","authors":"Radoslaw Kotkowski, Arkadiusz Manikowski","doi":"10.7172/2353-6845.jbfe.2023.1.5","DOIUrl":"https://doi.org/10.7172/2353-6845.jbfe.2023.1.5","url":null,"abstract":"The study explores the factors likely to induce Polish customers to pay by cash, instead of payment cards, for goods and services they are purchasing. The basis of our investigation is microdata obtained in 2020, during the “Payment Habits in Poland in 2020” study, which was conducted by Narodowy Bank Polski (National Bank of Poland) in 2020. The analysis is performed using the two-stage Heckman approach. In the first stage, card adoption factors are analyzed using a probit model; then, in the second stage, the OLS model is employed to analyze the propensity to pay by cash, despite having a payment card. Apart from typical factors affecting the use of different payment methods, e.g., age, income, education, or perceptions about payment methods, we find an important role of two, yet under-investigated factors, namely: the COVID-19 pandemic and spatial aspects. E.g., we find that self-reported change in payment behavior during the pandemic indeed was reflected in diary studies. Furthermore, we show that instances of merchants’ refusal to accept cash significantly impacted payment choices. Moreover, the results indicate significant spatial heterogeneity in payment behavior and that aspects like distance to the nearest ATM impacted cash usage, as more cash is used when ATMs are farther away, illustrating the concept of \"cash burns.\" Lastly, it has been noticed that during the pandemic, ownership of contactless payment cards significantly reduced cash usage, most probably due to the fear of contracting the disease by physical contact with surfaces (like cash).","PeriodicalId":472375,"journal":{"name":"Journal of Banking and Financial Economics","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136375045","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
The modeling of earnings per share of Polish companies for the post-financial crisis period using random walk and ARIMA models 后金融危机时期波兰公司每股收益的随机漫步和ARIMA模型建模
Journal of Banking and Financial Economics Pub Date : 2023-09-20 DOI: 10.7172/2353-6845.jbfe.2023.1.2
Wojciech Kuryłek
{"title":"The modeling of earnings per share of Polish companies for the post-financial crisis period using random walk and ARIMA models","authors":"Wojciech Kuryłek","doi":"10.7172/2353-6845.jbfe.2023.1.2","DOIUrl":"https://doi.org/10.7172/2353-6845.jbfe.2023.1.2","url":null,"abstract":"The proper forecasting of listed companies’ earnings is crucial for their appropriate pricing. This paper compares forecast errors of different univariate time-series models applied for the earnings per share (EPS) data for Polish companies from the period between the last financial crisis of 2008–2009 and the pandemic shock of 2020. The best model is the seasonal random walk (SRW) model across all quarters, which describes quite well the behavior of the Polish market compared to other analyzed models. Contrary to the findings regarding the US market, this time-series behavior is well described by the naive seasonal random walk model, whereas in the US the most adequate models are of a more sophisticated ARIMA type. Therefore, the paper demonstrates that conclusions drawn for the US might not hold for emerging economies because of the much simpler behavior of these markets that results in the absence of autoregressive and moving average parts.","PeriodicalId":472375,"journal":{"name":"Journal of Banking and Financial Economics","volume":"186 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136375046","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
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