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The nature of the Thai banking system in the pre-crisis era has been of great interest in the aftermath of Thailand’s 1997 financial crisis. Scores of studies have put great emphasis on the factors contributing to the crisis. There has been scant prior research on how Thai banks operate in practice since the crisis and the researcher was interested in better understanding this, particularly how the banks deal with information-related problems. The main objective of the research is to give an insight into the actions that Thai bankers carry out and how their activities are perceived by corporate borrowers, auditors, regulators and the bankers themselves. In dealing with informational problems, Thai banks employ screening techniques, collateral requirements, loan covenants, monitoring, and their relationships with borrowers in an attempt to mitigate the costs of both adverse selection and moral hazard problems. The study finds that there have been significant improvements in the banking system which has made Thai banks more compliant with internationally accepted lending practice. However, there is still room for further studies on how to create incentives to improve financial disclosure among small and medium enterprises (SMEs), how to establish sound corporate governance of banks, and how to minimise political interference in Thai state-owned banks.

58 The Abstract of my thesis The topic of my thesis is the legislation on the bylaws (statutes) of the banks in the Czech Republic. The bylaws are the most important documents not only of the banks, but also of every joint-stock company in general. The aim of this paper is to describe the present (contemporary, actual) national (Czech) legislation on the banks' bylaws and to emphasize the differences between the bank's bylaws and the bylaws of the ordinary joint-stock company. The first two chapters are focused on the explanation of the (the first two chapters explain) basic terms used in this work, specifically the terms "bank" and "the bylaws of the bank" in the light of the Czech law. In the following chapter I attempt to discuss division of the necessary parts of the bylaws. Then I continue with more detailed analysis of the bylaws requisites prescribed by the Czech Commercial Code and also required under the Law on Banks. At the end of this chapter there is a comparison of the particular provisions of the two leading banks' bylaws regarding their management and control systems, since these matters are individually tailored for each bank. The subsequent text mentions optional provisions that can be included in the bylaws, their possible division (categorization), and it presents (shows) few practical...

This study attempts to ascertain the role of the World Bank and its problematical issues in Balkan countries. The foreign aid holds a key impact in these economies, but on the other hand it embraces a controversial aspect. The contradictory role of the World Bank lies in aid ineffectiveness at reducing poverty and sustaining economic growth. The foreign aid inflows did not manage to fulfill its objectives efficiently, since they created income inequalities in the region favoring distinctive economies. Corruption and bad-governmental management would expand the controversially further. Additionally, the study analyzes the impact of aid on economic growth empirically using a panel data set comprising of five Balkan economies during 2000-2010 period. We find negative and significant evidence of aid impact on growth. Moreover, the relation between governance and growth resulted positive. Results display a clear framework of aid ineffectively across the region. The Balkan countries should therefore focus on a better effective management of the World Bank aid to reduce poverty, income inequality and to achieve the economic growth.

This dissertation examines the wealth effects of bank mergers on bidder, target, and combined firm shareholders for a sample of 785 mergers during the period 1980-2000. The dissertation employs two unique bank event study methodologies to calculate abnormal returns for bidder, target and combined firms. The first methodology is a modified market model that controls for shocks common to the banking industry. The second is an EGARCH (1,1) model that adjusts for the violated regression assumptions of the traditional market model event study. Namely, it controls for the linearity assumption, heteroskedasticity, and the correlation in the error term. The results of both methodologies reveal that target shareholders enjoy significantly positive abnormal returns, whereas the bidder shareholders experience significantly negative abnormal returns. Overall, announcements of bank mergers generate positive wealth effects for the combined shareholders. However, the evidence presented in this dissertation, to some extent, underscores the importance of the choice of models describing stock returns in examining the impact of bank mergers. In addition, when mergers are analyzed to determine the effects of relative size and relative book-to-market values, we find evidence that the relative size significantly affects the target, bidder and combined firm return; method of payment is also found to be significant in abnormal returns. Moreover, we find that the number of bidders affects only the bidder returns, while book-tomarket values are irrelevant factors. Availability Restricted: Release the entire work for campu

We study, using the non-parametric data envelopment approach, we investigated the long-run profit efficiency dynamics and the short-run market reaction of nine pre-classified merger deals of merging and non-merging U.S. banks over the time period from 1992 to 2003. Our main results are as follows: First, merger deals that match least efficient acquirers with the least efficient targets could improve their profit efficiency four years following the merger event, unlike all other merger deals. Second, we find that mergers match least efficient acquirers with the least efficient targets could also achieve significant positive cumulative access returns (CARs) while all other deals were followed by significant negative CARs. Third, we find that, in general, that large-size acquirers have and maintain higher and efficiency scores than targets and non-merging banks. Fianally, the value-maximizing mergers are mostly large in size and match banks with clear chances to increase their future efficiency rankings.

A dissertation submitted to the Faculty of Commerce, Law and Management University of the Witwatersrand Business School In fulfillment of the requirements for the degree of Master of Management in Finance and Investment Johannesburg, 2016 / This study uses a dynamic panel data method to examine the sensitivity of non-performing loans (NPLs) and bank capital buffer (BCB) to macroeconomic variables. This approach is motivated by the hypothesis that says macroeconomic variables have an effect on the bank’s balance sheet, and this effect varies across developed and emerging economies. The results show that NPLs are sensitive to GDP growth, interest rate, public debt, sovereign debt and unemployment in developed economies. However, NPLs are sensitive to GDP growth, exchange rate, interest rate, sovereign debt, unemployment and volume of imports in emerging economies. Public debt is not statistically significant in explaining the sensitivity of NPLs in emerging economies. Similarly, exchange rate and volume of imports have no significant influence on NPLs in developed economies. In relation to the BCB we find GDP growth, exchange rate, interest rate, sovereign debt, unemployment and volume of imports as significant macroeconomic variables driving the sensitivity of capital buffer in emerging economies. Conversely, interest rate, sovereign debt and unemployment are macroeconomic variables responsible for the sensitivity of the buffer in developed economies. GDP growth, exchange rate and volume of imports have no significant influence. Considering the liquidity risk imposed to the banks’ balance sheet by this set of macroeconomic variables. It seems plausible that their dynamics should be given attention when conceiving any policy mix to cope with credit expansion. Without such exercise, the goal of financial stability in the global banking system will be difficult to achieve. / MT2016

As a marker of current austerity policies, the growth of the emergency food aid landscape has become recognisable through the ‘food bank’. These places of charitable food-redistribution have seen their presence increase within an evolving social policy context. Understanding food bank use as two modes of ‘experience’, this thesis has mapped both the quantitative geographical ‘experience’ of the food bank, alongside the qualitative ‘experience’ gained from understanding why people have turned to them for help. Attending to the quantitative rise of the food bank as a means of support, this thesis has recognised that there has been substantial changes within the recent socio-political landscape of the UK that have stimulated food bank growth as an inadequate response to rising levels of poverty. In approaching the knowledge construction of the geospatial distribution of food banks across Wales, this thesis provides clarity to the organisational structures of both; the Trussell Trust Foodbank Network, and independent food banks. As a social policy, the Welfare Reform Act (2012) has been concluded within this thesis as holding the bonds of responsibility for driving the quantitative rise in food bank numbers across Wales. Recognition of increased ‘need’ triggered the opening of food banks as a way of providing emergency relief where social security failed. This thesis has mapped the growth of food banks in Wales and has recognised further growth as being attended to the rise in neoliberal policies of recent governments (1998-2015). Employing several data collection methods, the qualitative experience of food poverty has been illuminated through semi-structured thematic interviews and focus group interviews conducted with service providers detailing how the changing landscape of social security, and the ways in which the rise in attitudes of individualism have changed the acceptability of social security. Analysed within a Constructivist Grounded Theory approach, the key conceptual themes within this thesis centre upon the rise of a deserving and undeserving attitude within poverty, and how this resides within a neoliberal attitude of structure and agency driven poverty. Service provider interviews have been augmented by biographical focused semistructured interviews with service users, detailing their experience of having to resort to food bank use as their only means of sustenance. Here service users identified with a deserving and undeserving narrative, identifying with the structural and agency driven poverty as a cause of food bank use. Applying this approach, service users placed a hierarchical attitude to food bank use and furthered this distinction between the deserving and the undeserving user.

The conventional accounting notion of ‘going concern’ — that a firm will continue its business operations in the same manner indefinitely — has underpinned accounting practice for over one hundred years. This idea has provided a rationale for spreading costs over accounting periods and for deferring costs as assets in balance sheets. An alternative idea that is widely regarded as reliable in the literatures of economics and deliberate action is that firms continually adapt to changes in market and economic conditions. That is economic behaviour. The implications of that view of a firm for accounting have been systematically explored by Chambers (1966). While not examining those particular implications, many other accounting theorists have been critical of the conventional accounting idea of 'going concern' and of its impact on accounting practice. The two notions of ‘going concern’ - as static or adaptive enterprises - are examined by referring to the business operations of the four major Australian trading banks over the period 1983-1991. Banks were selected because they are commonly thought to be particularly ‘conservative’ organizations. The period 1983—1991 was chosen because it covers the era of deregulation of the Australian financial system. The evidence adduced by this study indicates that the Australian trading banks have continually adapted their organizational structures and business operations in the light of changes in technology, markets for financial services, government policies and domestic and global economic conditions. Illustrations of adaptive behaviour by banks ate drawn from their normal operating procedures such as the provision of products and services, loan services, acquisitions, sale of property, non-core banking operations and international banking. It is argued on analytical grounds that the cost basis of accounting does not yield financial statements that provide factual and up-to-date information about the financial capacity of firms to pay their debts and to continue trading generally; that is, to be going concerns. At any time, those financial capacities are determined by the amount of money commanded by a firm, including the money's worth of its assets, and by its level of debt. It is concluded on empirical grounds that the Australian trading banks, at least, are adaptive entities.