The objective of this master thesis is to analyze the contemporary situation on the Czech banking market in terms of investments into marketing communications. The efficiency of investments into marketing communications is analyzed in terms of awareness of banks surveyed, namely recognition, recall and Top Of Mind. This master thesis consists of three parts. The first part provides theoretical background and the base of the analysis. This part includes the objectives of communication on the banking market and the ways how to measure these objectives. The second part, the analytical part, is focused on the main objective and particular banks which are subjects of the analysis. In this part, hypotheses are defined. I will try to prove these hypotheses afterwards. In case of opposite results I will try to find out why my hypotheses were incorrect. The third part is focused on the conclusions of the analysis and to provide information for investment decisions in following periods.

As the need for cost-efficient, talented teams continues to grow, leaders often consider the use of globally dispersed teams, also defined as virtual teams. Despite the apparent benefits, the unique needs of virtual team members are often overlooked in general leadership, change management, and retention discussions. Leaders need to understand contributing factors to the attrition of virtual workers. The foundation for this research included theories of employee retention and change management. The research question for this qualitative phenomenological study focused on the lived experiences of current or former virtual financial services workers regarding job retention. Participants were chosen using purposeful sampling resulting in the selection of 15 individuals who had worked on a virtual financial services team within the past 3 years. The researcher used open-ended interview questions to report the lived experiences of virtual team members related to attrition, retention, and change. The researcher used the phenomenological descriptive approach for the analysis. A combination of hand coding and coding software revealed recurring themes. Themes from the results of the study included challenges of the virtual environment, leadership improvements, productivity impacts resulting from disengagement of the leader, and improvement of communication strategies. Suggestions for further research include frequency of communication, leadership training, team member selection, and further theory development for virtual leaders. The impact to positive social change occurs when virtual workers are satisfied in their role, thus impacting their ability to provide for their family, engage more frequently in activities within their community, and contribute to the success of the company.

Most financial institutions have not been successful at internationalisation, with some being remarkably unsuccessful. There are fewer occurrences of cross-border mergers and acquisitions than in most other industries. Foreign financial institutions tend to underperform relative to domestic financial institutions. Rugman and others have argued that their internationalisation primarily occurs at the regional rather than global level. Existing theories identify some barriers to firms? internationalisation, but these theories, were developed for manufacturing firms, and were rarely applied to financial services firms. This research seeks to identify barriers to financial institutions' internationalisation and contribute to the under-researched area of services internationalisation. To better understand the barriers to internationalisation, qualitative research techniques were used for an in-depth case-study analysis of one firm and its attempts at internationalisation, followed by detailed interviews of internationally experienced financial institutions executives from other firms. Finally, the apparent preference for regional over global expansion was investigated, through a quantitative analysis of over 12,000 cross-border, financial-services merger and acquisition transactions from 1990 to mid-2005. The research identified thirty-eight barriers to internationalisation, consistent with Rugman's findings on regional expansion, but also with the effects of similarity variables such as language, culture and legal system. The quantitative analysis tested these effects and found that the region effect was high, and was stronger than language and cultural effects individually, but about the same as their combined effect. The legal system similarity is not statistically significant when all effects are combined. This research contributes to this under-researched field. Given that internationalisation supports economic growth in the host and home countries, an improved understanding of these barriers may assist policy makers and enable managers to make better international investment decisions. The findings on the effect of geography versus other factors, such as language and culture, may inform managers' choice of target countries.

Thesis (Ph.D.)--University of Western Sydney, 2008. / A thesis submitted to the University of Western Sydney, College of Business, School of Economics and Finance, in fulfillment of the requirements for the degree of Doctor of Philosophy. Includes bibliographical references.

M. Tech. Business Administration / Review of literature shows that traditional commercial banks in South Africa do not serve low-income earners, micro-entrepreneurs and the poor (collectively referred to as the unbanked population), mostly due to the high cost involved in rendering such services to the poor. South Africa's unbanked population is estimated to be more than 13-million people who have no access to either banking or insurance products. But it appears as if the big four banks have been slow to tap into this potential, preferring to battle for market share among existing customers, competing for a larger slice of an existing cake. At the same time, Capitec Bank is trying its best to fill the gap left open by the big four South African banks. The objective of this research is to explore the innovative banking services and products that have been developed by Capitec Bank with a view to be of service to the unbanked population of South Africa.

This dissertation analyses the role of financial services in an attempt to understand how they might reduce the vulnerability to income risk for women street traders in Durban, South Africa. The street traders are exposed to income risks such as unpredictable markets, high levels of crime and lack of possibilities for business development. The stated hypothesis for this dissertation is that 'good' financial services may help poor individuals and households to better handle income risks and thereby lower the vulnerability to risks and reduce poverty. The access to financial services for the street traders in South Africa is rather limited and commercial banks are only willing to facilitate clients that have collaterals with an economic value. There are thus alternative financial institutions, such as microfinance organisations, that use social collateral like, for example, group-lending and frequent repayment schemes. This dissertation will discuss the use and impact of fmancial services on poverty reduction with a particular focus on a microfinance organisation and savings. The dissertation will consist of a literature review, a theoretical framework and an analysis of the findings from a case study. The literature review discusses the relation between risks, vulnerability, poverty and financial services in order to provide an introduction to the problem behind the stated hypothesis. The theoretical framework describes the cost of an imperfect market, why formal financial institutions fail the poor, solutions to the problem used by informal and microfinance institutions and the impact financial services have on poverty. The case study is based on a qualitative method through focus group discussions and individual in-depth interviews with clients in a microfinance organisation. To analyse the differences in saving behaviour and business related issues, the clients are divided into two groups with regards to how long they have been using financial services. One group consists of 'old' clients that have access and use the credit and deposit facilities accessible, and one group of 'new' clients that have just started and still have no access to the services. The findings show that 'old' clients have a higher level of income and more advanced businesses according to skill/capital intensity. Risk related to income and expenditures that the street traders mentioned are sensitive to the state of the economy, unbeneficial stock, weather conditions, seasonal trends, business agreements, crime and trade permits. Regarding savings, the street traders used a wide range of saving alternatives such as insurance schemes, bank accounts, money collectors, rotating credit and saving clubs and cash savings. There were thus a lack of 'good' saving opportunities and even the deposit schemes offered by the microfinance organisation was not used due to lack oftrust and accessibility. Both the 'old' and the 'new' clients were thus aware ofthe need of savings in order to protect themselves for future income and expenditure risks. The main conclusion is that the use of financial services through the microfinance organisation and other institutions may have helped the 'old' clients to develop their businesses and reach a higher income level. There is thus a lack of 'good' financial options for the street traders and their position is still very vulnerable. / Thesis (M.Dev. Studies)-University of Natal,Durban, 2003.

The purpose of this study was to determine the impact of Mzansi account initiative on the performance of the Amalgamated Banks of South Africa (ABSA). Mzansi account is a national entry level bank account that was launched in October 2004. The Mzansi bank account was established to cater for the previously disadvantaged people, living in remote and rural areas of South Africa. The Mzansi account is a product of the voluntary commitment by the Financial Services Sector as a response to the Government effort to address inequalities of the past. Historically, banks among other service providers did not actively offer banking services to poor people, especially those who lived in the rural and remote areas. This study examined how ABSA, in particular, reacted to Mzansi account conceptualization. The study also looked at the financial and non-financial impact of the implementation of the Financial Services Charter Initiative since 2004 until 2008. While the study focused on the charter since its conceptualisation, it also tracked the performance of ABSA a year before the charter which is the year 2003. Lastly, the study intended to evaluate the performance of ABSA, its macro and micro environment and the present day business environment within the FSC initiative scenario. The data collection for the study was acquired through literature review, observational study and case study research methodology. Findings of this study show that Mzansi initiative was found to have been a worthwhile initiative that has reached millions of low income people, who now have access to banking facilities and a formal banking instrument. However, the Mzansi initiative has not added a markedly value to the performance of ABSA bank. / Thesis (MBA)-University of KwaZulu-Natal, Westville, 2010.

China, a nation inhabited by one fifth of the world's population and often referred to as "the sleeping giant", is undergoing significant transition. China, subject to domestic changes in its quest for a new balance between traditions, socialist notions and market economy, defines its new role in a changing world that drives towards the globalization of trade in goods and services faces. / This study examines the Chinese position regarding two aspects significant for both China's domestic process of transition and China's international role: telecommunications and banking services. The first chapter examines the general international framework of the GATS with respect to telecommunications and financial services. This includes, inter alia, a study of the legal framework, comprising in particular the WTO Financial Services Agreement and the Basic Telecommunications Agreement. Chapter Two provides an overview of the Chinese telecommunications and banking sectors. This Chapter focuses on the historical and cultural background influencing the process of domestic deregulation and internationalization of these sectors. Chapter Three features an assessment of the Sino-US WTO Agreement on the telecommunications and banking sectors. In the course of this study, a number of concerns and probable consequences can be identified for both sectors examined. / Will "the sleeping giant" move on towards complete market liberalization, or is that prospect merely a castle in the air? This study explores how the China's legal framework governing these two key sectors might unfold.

While the saving environment has become more complex in recent years, so has the demand for individual activity. Important impetuses include financial deregulation, globalization, technological change, and reformed pension systems. Financial institutions can provide financial advisory services to help their customers to obtain positive net benefits by avoiding mistakes and using economies of scale, and they can also attract and maintain their customers by creating strong relationships. Earlier studies show that the incentive structure often leads to advice that is not to the benefit of the customers. In addition, not all customers seek and receive advisory services. The objective of this study is to increase our understanding of the relationship between the bank advisor – customer relation and the bank customer’s saving behavior. The scope of the study is to analyze relevant theories and develop a model that includes financial advisors as a mediator of saving behavior, and to understand the relational attributes that can affect saving behavior. Also, the characteristics of customers with a relational versus a transactional exchange form with the bank are explored. Given the problems of establishing causality, the scope is also to understand the impact of the relationship and, in particular, face-to-face advisory meetings on saving behavior. The analysis is mainly carried out with the help of customer data – both objective bank register data and subjective survey data – while the advisor characteristics are to a lesser extent part of the data material. Five studies are carried out using various methodologies, i.e., theoretical review and model development, probit and multinomial logistic regressions, difference-in-difference regression, and structural equation modelling. In addition, a case study is made analyzing dyads of customers and advisors in order to explore theoretical assumptions. Economics and relationship marketing are used to explain saving behavior with transactional, interimistic relational, and enduring relational exchange forms (Paper 1). Several major findings emerge in the quantitative analysis: First, the attributes are longer and stronger, the more relational the exchange form is (Paper 2). A second finding is that relational attributes also surface in transactional exchange, a finding that requires further research to be understood in more detail (Paper 2). Third, among relational attributes, duration and context have the largest total effects on saving behavior, while trust is a mediating variable (Paper 5). Fourth, not only demographic and socioeconomic factors can predict whether customers use the relational exchange form; psychological factors, such as saving motives and risk attitudes, are also predictors. Results are clearly different for women and men (Paper 3). Finally, financial advisory meetings are found to increase saving volumes and saving products held in stock. The largest effects are found for young customers with low wealth and low profitability to the bank, i.e., customers who initially have low activity levels and thus create a large potential (Paper 4). Limitations include endogeneity problems in general, and selection bias in particular, making it difficult to establish causality, and internal and external validity. Future research should focus on data management, especially building time series with enhanced methods to adjust for selection bias. In addition, studies to better understand the transactional exchange form are needed, as well as studies that deepen the definition of relational exchange, not least when alternative channels to face-to-face meetings include mobile banking and internet banking, and the digitalization of  the social know-how of financial advisors. Managerial implications include understanding the relational attributes that affect saving behavior, such as context, duration, and trust. Also useful to know are the factors that can help to predict the probability of a customer’s having a transactional or relational exchange form, i.e., including demographics, socioeconomics, psychology, and gender, to see how channels and customers can be better matched. Policy implications include using the model in this study to match relational attributes to the degree of financial literacy, since the risk of misselling is particularly large for relational-oriented customers with low financial literacy. / Samtidigt som sparandet har blivit mer komplext under senare år, har behovet av individens egen aktivitet ökat. Viktiga drivkrafter för denna utveckling har varit finansiell avreglering, globalisering, teknisk utveckling och reformerade pensionssystem. Finansiella institutioner kan erbjuda finansiell rådgivning för att hjälpa kunderna erhålla positiv nettonytta genom att de då kan undvika att göra vanliga misstag och kan få skalfördelar med ökad tillgång till information. Genom att skapa starka kundrelationer kan dessa institutioner också använda rådgivningen för att attrahera och behålla kunder. Tidigare studier visar att incitamentsstrukturen ofta leder till att rådgivningen missgynnar kunderna. Det är heller inte alla kunder som söker och får tillgång till rådgivning. Syftet med denna avhandling är att öka förståelsen för sambanden mellan bankkundens sparbeteende, finansiell rådgivning och relationen mellan bankrådgivaren och kunden. I avhandlingens omfång ingår att analysera teorier, utveckla en modell som inkluderar finansiella rådgivare som intermediärer till sparbeteende samt förstå de relationsattribut som kan påverka sparbeteendet. Dessutom görs jämförelser mellan kunders karaktäristika utifrån deras utbytesform. Med hänsyn tagen till svårigheterna att fastställa kausalitet ingår även att förstå hur relationen i allmänhet, och rådgivningsmöten i synnerhet, påverkar sparbeteendet. Analyser görs med hjälp av kunddata, både objektiva registerdata och subjektiva enkätdata, medan karaktäristiska för rådgivarna i mindre utsträckning finns med i datamaterialet. Fem studier utförs som använder olika metoder, såsom teoretisk genomgång och modellutveckling, probit- och multinomiala logitregressioner, ”difference-in-difference” regressioner samt struktur-ekvationsmodellering. Inledningsvis gjordes också en fallstudie som analyserade dyader av bank-kunder och rådgivare för att undersöka teoretiska antaganden. Det framkommer att national-ekonomi och relationsmarknadsföring tillsammans kan användas för att förklara sparbeteende med hjälp av tre utbytesformer (transaktion, interimistisk relation, djupgående relation) (Art. 1). Ju mer relation utbytesformen innehåller, desto längre och större är relationsattributen (Art. 2). Relations-attribut finns också representerade i transaktionsutbytet, ett resultat som kräver ytterligare forskning (Art. 2). För det tredje framkommer att bland relationsattributen är duration och kontext viktigast för att förklara sparbeteendet, följt av förtroende som är en intermediär variabel (Art. 5). För det fjärde framkommer att förutom demografiska och socioekonomiska faktorer är psykologiska faktorer, såsom sparmotiv och riskpreferenser, prediktorer för utbytesform. Resultaten är markant olika för män och kvinnor (Art. 3). Slutligen, givet endogenitetsproblem, syntes finansiella rådgivningsmöten öka sparvolymer och antal produkter som bankkunder använder. De största effekterna observeras för unga, personer med låga förmögenheter samt personer med låg lönsamhet för banken, d v s kunder som initialt har en låg aktivitetsnivå men som utgör en potential (Art. 4). Begränsningar i studierna handlar om endogenitetsproblemen i allmänhet, och selektions-svårigheter i synnerhet, vilka gör det svårt att fastställa kausalitet och vilka begränsar extern och intern validitet. Framtida forskning bör därför fokusera på datahanteringen genom att bygga upp tidsseriedata och utveckla metoder som justerar för selektionsproblem. Dessutom behöver transaktionsattributen studeras. Samtidigt är studier som fördjupar förståelsen kring relationen viktiga, inte minst som alternativa kanaler till mänskliga rådgivningsmöten – såsom mobilbank och internetbank – snabbt vinner gehör i bankerna och bland kunderna.     Avhandlingens implikationer för bankledningar inkluderar ett ramverk som kan användas för hur relationen och dess attribut påverkar sparbeteendet, såsom duration, kontext och förtroende. Vidare är det användbart att förstå de faktorer som predicerar sannolikheten att kunden har en relations- eller transaktionsutbytesform, och de inkluderar demografi, socioekonomiska faktorer, psykologi och genus, inte minst som behovet att bättre matcha kanaler med kunder ökar. För politiska beslutsfattare kan avhandlingens modell användas för att matcha relationsattribut till graden av finansiell förmåga, inte minst som risken för ”misselling” är särskilt stor för relationsorienterade kunder med låg finansiell läsförmåga. / <p>QC 20150327</p>

Most financial institutions have not been successful at internationalisation, with some being remarkably unsuccessful. There are fewer occurrences of cross-border mergers and acquisitions than in most other industries. Foreign financial institutions tend to underperform relative to domestic financial institutions. Rugman and others have argued that their internationalisation primarily occurs at the regional rather than global level. Existing theories identify some barriers to firms? internationalisation, but these theories, were developed for manufacturing firms, and were rarely applied to financial services firms. This research seeks to identify barriers to financial institutions' internationalisation and contribute to the under-researched area of services internationalisation. To better understand the barriers to internationalisation, qualitative research techniques were used for an in-depth case-study analysis of one firm and its attempts at internationalisation, followed by detailed interviews of internationally experienced financial institutions executives from other firms. Finally, the apparent preference for regional over global expansion was investigated, through a quantitative analysis of over 12,000 cross-border, financial-services merger and acquisition transactions from 1990 to mid-2005. The research identified thirty-eight barriers to internationalisation, consistent with Rugman's findings on regional expansion, but also with the effects of similarity variables such as language, culture and legal system. The quantitative analysis tested these effects and found that the region effect was high, and was stronger than language and cultural effects individually, but about the same as their combined effect. The legal system similarity is not statistically significant when all effects are combined. This research contributes to this under-researched field. Given that internationalisation supports economic growth in the host and home countries, an improved understanding of these barriers may assist policy makers and enable managers to make better international investment decisions. The findings on the effect of geography versus other factors, such as language and culture, may inform managers' choice of target countries.