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Performance of financial sectors in Baltic States / Finansų sektoriaus Baltijos šalyse apibūdinimasBacevičius, Tadas, Bacevicius, Tadas 23 July 2012 (has links)
The purpose of this study is to examine economic growth impact on financial sector development in the Baltic
States by investigating interrelation between indicators of these two economic areas.
Research is based on scientific literature and empirical analysis. Statistical data is collected mostly from World
Bank database in the period between 1994-2009. Indicators like liquid liabilities to GDP and private credit to GDP ratio
are used to measure the financial sector size and activity. Economic growth is analyzed throughout total production and
factors which are suggested by three economic growth theories. Analysis of GDP is made by expenditure approach.
Statistical data showed positive financial sector development in Baltic States during the research period. Estonia
had highest developed financial sector, then followed Latvia and Lithuania. The main reason for strongest financial
performance in Estonia can be explained by highest export and import activity, financial capital accumulation and
lowest real interest rates, unemployment and population. Financial sector development in Latvia was supported by high
education expenditure and capital formation in the private sector. Lowest performance of financial activity in Lithuania
can be justified by greatest unemployment, population and lowest financial capital attraction.
This work confirms Patrick's (1966) demand-following hypothesis which states that growing economy leads to
increasing demand of financial services and so... [to full text] / Šių studijų tikslas yra ištirti ekonomikos augimo įtaką finansinio sektoriaus plėtrai Baltijos šalyse, nagrinėjant
tarpusavio ryšį tarp šių dviejų ekonominiu sričių vystymosi rodiklių.
Tyrimas remiasi moksline literatūra ir empirine analize. Statistiniai duomenys yra surinkti daugiausiai iš
Pasaulio Banko duomenų bazės 1994-2009 metų laikotarpyje. Indikatoriai kaip likvidţių įsipareigojimų santykis su
BVP ir privačių kreditų santykis su BVP yra naudojami matuojant finansinio sektoriaus dydį ir aktyvumą. Ekonomikos
augimas analizuojamas per bendrą produkciją ir indikatorius, kurie buvo pasiūlyti trijų ekonomikos augimo teorijų.
BVP analizuojamas išlaidų metodu.
Statistiniai duomenys parodė pozityvų finansinio sektoriaus vystymąsi Baltijos šalyse tiriamajame laikotarpyje.
Estija turėjo labiausiai išvystytą finansinį sektorių, po jos sekė Latvija ir galiausiai Lietuva. Stipri finansinė padėtis
Estijoje gali būti paaiškinama dėl aukšto eksporto ir importo aktyvumo, finansinio kapitalo akumuliacijos ir ţemos
palūkanų normos, ţemo nedarbo ir populiacijos. Finansinio sektoriaus plėtra Latvijoje buvo paremta didelėmis švietimo
išlaidomis ir kapitalo formavimu privačiame sektoriuje. Silpnesnį finansinį sektorių Lietuvoje greičiausiai sąlygojo
didţiausias nedarbas, populiacija, ir maţiausias finansinio kapitalo pritraukimas.
Šis darbas patvirtina Patricko (1966) paklausos-sekimo hipotezę, kuri teigia, kad ekonomikos augimas veda prie
didėjančios finansinių paslaugų paklausos ir taip... [toliau žr. visą tekstą]
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The finance-growth nexus. Market economies vs. transition countries.Fink, Gerhard, Haiss, Peter, Mantler, Hans Christian January 2005 (has links) (PDF)
Applying a growth accounting framework and a wide range of static and dynamic panel data estimators on a panel covering 22 market economies and 11 transition countries over 1990-2001, we find a weak and fragile finance-growth link in market economies, but strong financial sectorinduced short-run growth effects in transition countries. The main growth effect hereby runs via the productivity channel. Parametric heterogeneity and financial structure seem to play a more important role than hitherto assumed: The financial sector and its different segments trigger different growth effects in different countries. (author's abstract) / Series: EI Working Papers / Europainstitut
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Linkage between FinTech and Traditional Financial Sector in U.S. : Comparative Study during and after Global Financial CrisisChen, Chunyan, Zhang, Ziyi January 2018 (has links)
Background: In 2008, the financial crisis led to the deterioration of the global economy. The financial industry suffered severe setbacks. On the one hand, regulators strengthened their supervision over financial institutions and raised capital requirements. On the other hand, publics’ confidence in financial institutions declined. At the same time, the fintech industry has rapidly developed during this decade, they use technology to make financial innovation and pose a threat to the traditional financial industry. Purpose: This paper aims to study the linkage between U.S. fintech and the traditional financial sector, trying to figure out which industry's stock price changes will affect the stock price changes in another industry. In particular, it also considers whether the global financial crisis will affect this relationship. Method: We first perform the Granger causality test under the VAR framework for several selected indices sequences, and then use the Toda Yamamoto version of Granger causality approach to verify the reliability of the above tests. Testing is divided into different time intervals in order to detect the impact of financial crisis on the relationship between time series. Conclusion: The empirical analysis results show that the correlation between the index in the long-term and short-term is inconsistent, and also shows that the correlation between the index will be affected by the financial crisis, or say, it will change as time varying.
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Developing an independent regulatory framework for the financial sector in MalaŵiSunduzwayo, Madise January 2011 (has links)
Magister Legum - LLM / South Africa
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Application of cross-sector style analysis of South African equities in active portfolio managementSmall, Wayne January 2015 (has links)
Magister Commercii - MCom / A distinctive phenomenon on the JSE Securities Exchange (JSE) is the market
segmentation between the resource sector and the financial and industrial sectors.
Criticisms also arise from employing a capitalization-weighted (cap-weighted) index
such as the ALSI index when the market is less than perfectly efficient. A study
conducted by Vardharah and Fabozzi (2007) also suggests that a correlation exists
between sector allocation decisions and the investment styles inherent in portfolios. The uniqueness of the South African stock market is that it is dominated by three major sectors, namely, the financial sector, the industrial sector and the resources sector. The goal of this research is to examine the application of sector influences on the JSE over the examination period 1 January 2003 to 31 December 2013. It is the contention that the cap-weighted ALSI index is price-sensitive and potentially
mean-variance inefficient. The study therefore attempts to evaluate the relative meanvariance efficiency of alternative sector allocation strategies versus the cap-weighted ALSI as the optimal risky portfolio on the JSE. Two optimal long-only portfolios that maximises the Sharpe ratio are constructed and compared to the market proxy on the JSE over the examination period from 1 January 2003 to 31 December 2013. A longonly portfolio that comprises the JSE tradable sector indices and includes a cash allocation (risk-free proxy) and a long-only portfolio exclusive of the cash allocation are constructed. The research extends to cross-examine the inter-relationship between sector returns and the investment styles on the JSE using the Carhart (1997) four-factor model. The research further reexamines and updates the market segmentation phenomenon over the extended examination period from 1 January 2003 to 31 December 2013. The practicality of two sector-based multifactor APT models are examined and compared to the single-factor CAPM to determine which of the asset pricing models better explain JSE equity returns. A sector-based two-factor APT model proposed by Van Rensburg (2002) using the JSE sector indices FNDI and RESI as the sector proxies is reexamined and a sector-based three-factor APT model using the JSE tradable sector indices FINI, INDI and RESI as the sector proxies is explored. The optimal long-only portfolio with the cash allocation is found to offer the best meanvariance
efficient allocation and the ALSI index represents the most mean-variance
inefficient portfolio. The resource sector is found to be the worst performing sector and significantly influences the performance of ALSI. In terms of the style risk influences, the financial sector has a strong value bias and the industrial sector has a moderate value bias, small cap bias and a momentum bias. The resource sector, for the most part, is influenced by growth stocks and has a contrarian tilt. It is also found that the market segmentation phenomenon continues to exist on the JSE. Although the explanatory power of the three-factor APT model and the two-factor APT model is similar, the distinct advantage of the three-factor APT model is that systematic risks could be observed more closely by separating FINI and INDI in the asset pricing model.
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Ochrana spotřebitele ve finančním sektoru / Consumer protection in financial sectorNiedobová, Hana January 2009 (has links)
Thesis deals with consumer protection in financial sector. The main objective is to analyze the tools which are used in the field of consumer protection. The thesis is divided into two parts. Theoretical part focuses on the legislation of the Czech Republic and the European Union. Furthermore, the legislative framework, which leading to full harmonization of European law on the territory European financial market. The practical part is focused on survey of the Czech financial market, the main objective is analyze information for consumers in the Czech financial sector. Furthermore, an analysis financial codes and their implementation. The last chapter provided a comparison information from the websites of commercial and non-commercial resources.
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Změny bankovní regulace a dohledu v EU v reakci na finanční krizi / Reaction to financial crisis: changes in bank regulation and supervision in the European UnionAndr, Jakub January 2010 (has links)
This thesis presents changes proposed in the European Union as a reaction to financial crisis. The aim of this thesis is to provide a summary and comment of changes both in organisation of supervision and banking regulation, especially concentrating on Basel III and taxation. The first part contains a description of the structure of supervision both in the Czech Republic and in the European Union. The description includes development in the Czech Republic in last five years. The second part contains a description of causes and development of the global financial crisis, defines systemic risk and financial stability and the ways to measure it. The third part describes new structure of supervision in the EU and impact of the change. It also includes a description of Basel III and CRD IV and its impact, discussion of options of taxation in the financial market. The end of this part is a brief summary of changes applied in the USA and its comparison to changes in the EU. The last chapter contains the CNB's position to these changes.
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Možnosti rozšírenia počtu zamestnancov zdravotne postihnutých vo finančnej sfére / Possibilities of increasing the number of employees with disabilities in the financial sectorPoszmiková, Silvia January 2012 (has links)
The thesis discusses the issue of employment of people with disabilities and also how to extend their number in the financial sector. The work is divided into theoretical and practical part. The introduction of the theoretical part describes the evolution of the term disabled person within Czechoslovak legal system and its transformation into nowadays used form - person with disabilities. Thesis also lists the most important international documents governing the concept and the rights of persons with disabilities and finally, defines the issue of the employment of people with disabilities in accordance with current legislation. The analytical part of thesis compares the data aquired by Czech bank and assesses the impact of the low number of employees with disabilities of all employees. Main objective of the survey carried out among selected employees of the Bank and using the questionnaire, is to determine the subjective point of view of employees on the issue of employment people with disabilities. The main objective of this thesis is to design possibilities and increas the number of employees with disabilities in the financial sector.
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La transformación digital y su influencia en la transformación cultural en las empresas del sector financiero en Lima Metropolitana en el 2019 / Digital transformation and its influence on cultural transformation in companies in the financial sector in Metropolitan Lima in 2019Rosales Alarcon, Brayan Oscar, Ruiz Quiroz, Grecia Carolina 11 September 2020 (has links)
La presente investigación académica busca explicar la influencia entre la transformación digital en la transformación cultural en las empresas del sector financiero en Lima Metropolitana en el 2019.
El diseño de la investigación es de tipo no experimental, transeccional, con un enfoque cuantitativo y de correlación. La herramienta utilizada para recabar los datos fue a través de una encuesta de tipo Likert, siendo determinada mediante la confiabilidad del Coeficiente de Alfa de Cronbach, siendo validada por juicio de expertos.
La técnica de muestreo aleatorio simple, fue mediante 381 encuestados que laboren el sector financiero de los cuatro bancos más reconocidos a nivel Lima Metropolitana (BCP, BBVA, Interbank y Scotiabank) de una población de 36,033 colaboradores a nivel nacional. En relación a las pruebas estadísticas no paramétricas del Coeficiente de correlación Thau de Kendall (Valor = 0.598) y de Spearman (Valor = 0.747), indica que se tiene una correlación positiva entre ambas variables del presente estudio, la transformación digital y la transformación cultural. / This academic research seeks to explain the influence between digital transformation on cultural transformation in companies in the financial sector in Metropolitan Lima in 2019.
The research design is non-experimental, transectional, with a quantitative and correlational approach. The tool identified to collect the data was through a Likert-type survey, being determined by the reliability of the Cronbach's alpha coefficient, being validated by expert judgment.
The simple random sampling technique was through 381 surveys that worked in the financial sector of the four most recognized banks at the Metropolitan Lima level (BCP, BBVA, Interbank and Scotiabank) of a population of 36,033 collaborators nationwide. In relation to the nonparametric statistical tests of the Kendall Thau Correlation Coefficient (Value = 0.598) and Spearman's Correlation Coefficient (Value = 0.747), it indicates that there is a positive correlation between the variables of the present study, digital transformation and cultural transformation. / Tesis
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A qualitative exploration of the experiences of female executives in the financial sector of South AfricaKirsten, Nasrin January 2014 (has links)
This study is a qualitative exploration of the experiences of female executives in the financial sector of South Africa. It aims to explore the perceptions of the possible challenges which have been experienced by executive women within the financial sector while attempting to break the glass ceiling.
In many countries including South Africa there lies a contradiction between our governmental policies of equality and equal representation for men and women in the employment sectors and the actual practice. Despite the fact that our employment laws have changed in order to give equal opportunities to both males and females there is still such a small percentage of women holding executive positions in corporate South Africa and this could be a consequence of the challenges faced by them.
Using interpretive phenomenological analysis based on a feminist standpoint as a method, this study explores the hidden gender inequalities that exist within the boardrooms of the financial sector. It starts by exploring how available literature constructs the problem as related to the internal organisational and institutional structures of the financial sectors and individual matters and societal perceptions.
Interview data from semi-structured interviews with females in executive positions were analysed using interpretive phenomenological analysis. Similar views emerged from the participants in this study, which confirm previous literature and studies. The barriers highlighted in this research were the different roles which men and women perform, compensation, networking and mentoring disadvantages, re-entry into the corporate world after maternity leave and the ability to be a mother and career woman at the same time. The study agrees that women tend to experience the glass ceiling or factors contributing to what has been termed the glass ceiling. / Dissertation (MA)--University of Pretoria, 2014. / tm2015 / Psychology / MA / Unrestricted
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