Yes / The financial crisis of 2008 provides evidence for the instability of the conventional banking system. Social banks may present a viable alternative for conventional banks. This article analyses the performance of social banks related to the bank business model, economic efficiency, asset quality, and stability by comparing social banks with banks where the difference is likely to be large, namely with the 30 global systemically important banks (G-SIBs) of the Financial Stability Board over the period 2000–2014. We also analyse the relative impact of the global financial crisis on the bank performance. The performance of social banks and G-SIBs is surprisingly similar.

Operational risk was identified as one of the primary risk types that a bank faces. Neglected for many years, there is a growing awareness in the banking industry that the management of operational risk is crucial for their future existence. The effective management of operational risk, however, requires a structured approach. This study, therefore, investigates the management of operational risk by way of a literature study and empirical research in order to develop a framework for a structured approach to operational risk management in banking. The framework comprises the primary risk factors of operational risk, namely: people, processes, systems and external events, as well as a definition of operational risk. The operational risk exposures that apply to the aforementioned primary risk factors are identified. It, furthermore, illustrates that operational risk management is an ongoing process that consists of risk identification, risk evaluation, risk control and risk financing and addresses the methods that could be applied in the management process. As operational risk management in the banking industry is still in a development stage it is believed that this study could assist banks with establishing formal operational risk management processes. The framework demarcates the area of operational risk properly and provides insight into all the activities that should be performed in the operational risk management process, but the following issues still require further research: • The practical implementation of methods for the quantification of operational risk and determining a capital charge for it; • The effect of the requirements of corporate governance on banks as it relates to the management of operational risk; and • The interaction between operational risk and the other primary risk types to ensure an effective, enterprise-wide risk management process. The framework that has been developed could also be applied to any other enterprise as operational risk management is not unique to banks and the basic principples are generic. / Business Management / D. Com. (Business Management)

This thesis examines the impact of policy-induced consolidation on banks' performance. The Nigerian bank consolidation of 2004/5 was one of the regulatory reforms initiated by the Central Bank of Nigeria (CBN) to tackle the country's deteriorating and weak banking sector by increasing the equity capital of banks and with the aim of making the banks more robust and resilient to shocks. This study utilises Impact evaluation technique to measure the effect of the policy intervention in the banking market, using the data of the Nigeria banks and banking industry from 2000 to 2010. Banks' performance were analysed based on eight performance indicators that served as bench marks with which the degree of success of bank consolidation policy were measured. The eight indicators are thus tied to the policy objectives which primarily are to enhance the bank's profitability, efficiency and riskiness. The measure of change in bank performance post-policy provides some informative evidence about the impact of the policy intervention. Methods of assessment therefore measure the change in performance of the banks (broadly classified into 3 distinct groups based on their mode of consolidation) in the post-policy period and compare it with their pre-policy performance, examining the trends and changes and making inferences based on appropriate statistical tests. Our analysis provides evidence that the policy-induced consolidation through bank recapitalisation has significant impact on most of the banks' performances. We find that policy effect on banks' performance is mixed; while some outcomes are in accordance with the policy objectives of enhancing profitability, efficiency and riskiness of the banks, others are contrary to the objectives. Some results also suggest that the policy did not have significant effect on the banks' performance. The research findings underscore the importance of time in measuring 3 performance change, as well as mode of consolidation, as they influence bank performance and determine the extent to which possible gain from consolidation would be realised and by extension the policy objectives achieved. This is because, apart from mode of consolidation, the policy effects on bank's performances were found to be largely affected by time, that is, whether the assessment is short term or medium term. For instance, the effect of the policy in all the banking group's risk performance indicators within the first two years (short-term) post-policy, was found to be positive (improved), while the policy effect changed significantly and adversely when the measurement was extended to five years post-policy period (medium term). Similarly, our results indicate that the policy effects on the banking group's performances differ substantially. Other factors also shown to influence the policy effects on banks' performances include: bank ownership, size and the number of banking firms in a consolidated bank. However, we find strong evidence that contrary to the general notion that bank consolidation leads to concentration of market, Nigeria policy-induced bank consolidation did not result in concentrated market rather it lowered banking market concentration, because it created relatively equal-sized banks in the post-policy period. Also we are able to distinguish in our analysis between the changes in banks performance that were as a result of the policy from the changes that would have occurred anyway, by estimating the change in performance in the post-policy as a result of persistence of banks performance in the pre-policy period, and this was found to be positive and statistically significant especially for the standalone and the merged group's profit returns.

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published_or_final_version / Economics and Finance / Master / Master of Economics

published_or_final_version / Chinese Historical Studies / Master / Master of Arts

Portrait collectif de grands banquiers belges Bruxelles-Liège-Anvers (1830-1935). Contribution à une histoire des élites (2 volumes) Cette recherche, divisée en trois parties, est une première tentative visant à donner une vision prosopographique assez complète d’un groupe patronal dans la Belgique indépendante d’après 1830. Après avoir défini les principales caractéristiques sélectives de l’échantillon de 382 banquiers, la première partie de la thèse tente de synthétiser de manière principalement quantitative les traits distinctifs de l’élite à l’étude. La seconde partie, alternant approches quantitative et qualitative, propose des pistes de réflexion relatives aux réseaux mis à profit par les banquiers belges dans la constitution de leur tissu relationnel. La dernière partie essaye, en quelques pages synthétiques, de replacer les apports de cette recherche prosopographique dans le contexte économique de l’époque. Elle tente ainsi de jeter des ponts entre l’histoire économique et sociale, toutes deux utiles pour bien cerner les particularités du groupe de banquiers étudiés. Collective portrait of Belgian bankers Brussels-Liège-Antwerp (1830-1935). Contribution to a history of élite (2 volumes). This research, which is divided in three parts, aims to give for the first time a quite exhaustive “prosopographic” vision of a group of entrepreneurs in post 1830 independent Belgium. The first part is twofold: it defines the principal criteria of selection of the 382 strong sample of bankers, then aims to synthesize from a quantitative point of view the distinctive features of the elite under study. The second part, which relies on both quantitative and qualitative approaches, offers fresh thinking tracks as to the networks set up by Belgian bankers and the benefits thereof from a relational perspective. The final part aims, quite concisely, to set the contributions of this research back in their original economic context, thus bridging the gap between economic and social history, both equally useful to outline the features of the bankers under consideration.

<p>Background</p><p>In 2006 the audit duty for SME’s was abolished in Denmark, and January 1st 2007 Finland decided to do the same. The subject is now under investigation in Sweden since the government has appointed an</p><p>investigation dealing with the future of the audit duty for small companies. The report will not only investigate whether an abolishment needs to be done but also if compliments are needed in order to prevent companies from breaking the rules, intentionally or unintentionally due to lack of knowledge.</p><p>Purpose</p><p>To investigate how a possible abolishment of the auditing duty for small companies will affect the creditors’ ability to assess the company’s creditworthiness.</p><p>Method</p><p>The selected sample of this study contained interviews with five organisations that would be affected differently of an abolishment of the audit duty. The authors wanted to interview organisations with different perceptions of the audit duty although the or-ganisations have in common that they all possess knowledge which is important to the banks in the credit rating process. The sample consists of representatives from; FAR SRS, Företagarna, Handelsbanken, Nordea and Upplysningscentralen.</p><p>Conclusion</p><p>All the different organisations in the study showed different views in the value of having audited financial statements. FAR SRS and Företagarna were, as could be expected, most and least in favour of having audited financial statements. UC did not predict to be affected by an abolishment, but did see a value in it. Interesting conclusions could be seen between the banks. It showed that depending on the organisational structure dif-ferent value was seen in the audit duty. This addresses how important a bank’s routines are in the process of valuing a company’s creditworthiness. The study showed that an abolishment will probably turn the focus in the credit process from the information that figures generates. The information used to assess a company’s creditworthiness would to a larger extent be on analysing the business concept, the environment and the re-sources that a company posses.</p>

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