La analítica de datos permite a las organizaciones del sector financiero obtener una ventaja competitiva a través de procesos destinados a obtener datos, procesarlos y mostrarlos como información valiosa para comprender el comportamiento de sus clientes y estar preparados contra riesgos como el lavado de dinero, el fraude crediticio, entre otros. Sin embargo, las organizaciones no pueden identificar fácilmente las brechas relacionadas con el personal, los sistemas de información y los procesos comerciales que obstaculizan la mejora de su entorno de analítica de datos. En este contexto, los modelos de madurez evalúan, con base en criterios definidos, el estado actual de una organización e identifican su nivel de madurez para mejorar en función de los hallazgos. En este documento, se propone un modelo de madurez para identificar brechas en el entorno analítico de las compañías financieras que conducen a la reducción de estas. Este modelo incluye artefactos y criterios de evaluación centrados en tecnología, gobernanza, gestión de datos, cultura y analítica en sí, lo que proporciona un proceso de diagnóstico más amplio y estructurado con respecto al entorno analítico. El modelo propuesto se probó en tres empresas del sector financiero peruano y los resultados sugieren que los especialistas obtuvieron una perspectiva más clara que sus pensamientos iniciales sobre la situación del entorno analítico de sus empresas. / Data analytics allows organizations in the financial sector to gain a competitive advantage through processes aimed at obtaining data, processing them and displaying them as valuable information to understand the behavior of their clients and to be prepared against risks as money laundering, credit fraud, among others. However, organizations cannot easily identify gaps related to personnel, information systems and business processes that hinder the improvement of their data analytics environment. In this context, maturity models evaluate, based on defined criteria, the current state of an organization and identify its maturity level in order to improve based on the findings. In this paper, a maturity model is proposed to identify gaps in analytics environment of financial companies that lead to the reduction of these. This model includes artifacts and evaluation criteria focused on technology, governance, data management, culture and analytics itself, which gives a broader and structured diagnosis process with respect to the analytics environment. The proposed model was tested in three companies of Peruvian financial sector and the results suggest that the specialists obtained a clearer perspective than their initial thoughts on the situation of the analytics environment of their companies. / Tesis

El presente trabajo tiene como finalidad presentar una propuesta de mejora al proceso Administrar asesorías de una Entidad Financiera, mediante el diseño de una Arquitectura de software para un sistema web, la cual permita optimizar la planificación, solicitud y ejecución de las asesorías. El capítulo 1, presenta la información de la organización objeto de estudio, así como la definición del problema, objetivos del proyecto e indicadores de éxito. El capítulo 2, describe los logros de los student outcomes planteados por la universidad como objetivos que deben alcanzarse en el presente trabajo. El capítulo 3, presenta el desarrollo del marco teórico en donde se describe los conceptos fundamentales de frameworks y métodos utilizados para el desarrollo del trabajo. El capítulo 4, presenta la propuesta de mejora al proceso Administrar asesorías, para lo cual se realiza un análisis del negocio y del proceso involucrado a través de los frameworks de Zachman y TOGAF, lo que decanta en los modelos AS-IS y TO-BE del proceso haciendo uso de la notación BPMN. Luego se identifican los requerimientos funcionales y no funcionales que permiten definir los conceptos, estilos y tácticas de arquitectura que se emplearán en el Modelo C4. El capítulo 5, presenta todas las herramientas utilizadas en la gestión del proyecto, que permitan cumplir con las restricciones de alcance, costo y tiempo. / The purpose of this work is to present an improvement proposal for managing consultancies of a Financial Institution, by designing a Software Architecture for a web system, which allows optimizing the planning, request and execution of consultancies. Chapter 1 presents the information of the organization under study as well as the definition of the problem, project objectives and indicators of success. Chapter 2 describes the achievements of the student outcomes set by the university as objectives to be achieved in this assignment. Chapter 3 presents the development of the theoretical framework where the fundamental concepts of frameworks and methods used for the development of the assignment are described. Chapter 4 presents the improvement proposal for the process of managing consultancies, for which an analysis of the business and process involved is carried out through the Zachman frameworks and TOGAF, choosing the AS-IS and TO-BE models of the process using the BPMN notation. Then, the functional and non-functional requirements are identified that allow defining the concepts, styles and tactics of architecture that will be used in the C4 Model. Chapter 5 presents all the tools used in the project management, which allow compliance with the scope, cost and time restrictions. / Tesis

OF MASTER THESIS The master thesis called Comparative analysis of George Bush Junior second term and Barack Obama second term foreign policy towards Iranian nuclear program till 2015 submits broader understanding of George W. Bush and Barack Obama presidency in terms of their Middle Eastern policy, concretely the issue of Iranian nuclear policy. The main interest lies in an intention to conclude which particular circumstances led American governments to rethink its position towards Iranian nuclear program, bearing in mind changes which took place in security, economic and foreign policy interests of the United States. Closer analysis of the economic sanctions, wars in Syria and Iraq, changes of the Iranian political elites, menace of Israelian air strikes against key iranian nuclear, industrial targets and main infrastructure capacities will create supporting arguments to answer the examined question: Which aspects in particular, and why led to the significant changes in the American foreign policy towards Iranian nuclear pogram during the last decade. Anotace diplomové práce Diplomová práce Komparativní analýza druhého prezidentského období George Bushe mladšího a druhého prezidentského období Baracka Obamy se zaměřením na problematiku Íránského jaderného programu do roku 2015 se zabývá širším...

El lujo es una tendencia de crecimiento en el Perú (Nielsen 2018) , existen cambios mercado y prácticas del consumidor de lujo peruano. Sin embargo, existe información escaza sobre la adaptabilidad de los factores del lujo al mercado peruano. Las percepciones de valor de lujo se adaptan de manera diferente a cada uno de los mercados, por lo que, en la presente investigación se estudiará las percepciones de valor de lujo de hombre y mujeres de 18 a más al momento de comprar productos de lujo accesible. Las variables que se han elegido son valor financiera, funcional, social, individual y experiencial. Para lograr comprobar las hipótesis que se plantean en el presente estudio se ha realizado una investigación mixta. En el estudio cualitativo se realizó focus y entrevistas a personas que habían consumido lujo en los últimos 6 meses. Al mismo tiempo, se realizaron cuatro entrevistas a expertos. En el estudio cuantitativo, se realizó una encuesta online, la cual se aplicó a 290 consumidores de lujo.  El análisis que se realizó fue de tipo correlacional entre la intención de compra y los cinco valores de percepción de lujo que se analizaron. Finalmente, luego de procesar la información, se obtuvo que sí existe una relación estadísticamente significativa (positiva) entre la atmósfera de tienda, valor funcional e individual con la intención de compra. Mientras que, no existe una relación estadísticamente significativa (positiva) entre el valor financiero y valor social con la intención de compra. / In order to verify the hypotheses raised in this study, a mixed investigation has been carried out. In the qualitative study, focus and interviews with accessible luxury consumers were carried out. Also, four interviews with luxury experts were applied. In the quantitative study, a survey was conducted, which was applied to 290 luxury consumers. In addition, the performed analysis was correlational between the purchase intention and the five-luxury value perception that were analyzed. After processing the information, the results show us there is a statistically significant (positive) relationship between the store atmosphere, functional and individual value with purchase intention. While, there is no statistically significant (positive) relationship between financial value and social value with purchase intention. / Trabajo de investigación

Know Your Customer compliance costs have never been higher for banks in Europe. This thesis looks at the application of blockchain technology to reduce Know Your Customer compliance costs. The work within aims to utilise the strengths of blockchain technology in order to reduce the costs of compliance for banks. This is done through collaboration with industry partners, resulting in a system designed to meet banks’ needs. The contributions of this work are: 1) A system which enables data sharing between banks, enabling 2) reduc tion of costs by at least 45%, and 3) reducing or eliminating over reliance on third parties, 4) an exploration of how to price data within the system is made in order to help banks further reduce their costs, 5) reduction of chain size by reducing the size of contract creation transactions in Ethereum by 90% for standard users, lastly, 6) to better understand the functionality and purpose of smart contracts. The system is the first of its kind to remove the requirement of third party storage solutions, and is the first to explore pricing aspects in detail.

Teniendo en cuenta que el sector financiero puede ser un medio para promover el desarrollo económico de un país, influyendo en la inversión de capital hacía actividades productivas y expansión de mercados, analizar posibles determinantes que afecten su desarrollo es importante. El propósito de este trabajo de investigación es determinar si la competencia tiene un efecto en la calidad de la cartera crediticia de las instituciones otorgadoras de crédito, y, de ser así, analizar si el efecto es positivo o negativo. Se toma para el periodo de análisis los años 2010 al 2019 y para tres grupos de instituciones financieras que son banca y, en representación del sector micro financiero, tenemos a las cajas municipales y cajas rurales en el Perú. Estudios previos demostraron una relación en su mayoría positiva entre la tasa de morosidad y el incremento de competencia, sin embargo, no es un resultado concluyente para todos los países y periodos, por lo que determinar la relación para el caso peruano y en los años dados resulta innovador. Para contrastar de forma empírica que la competencia afecta la cartera crediticia, se tomó a la variable de tasa de morosidad para medir el impacto de calidad de cartera. Asimismo, se planteó estimar el índice de Lerner como indicador de poder de mercado en representación de la variable de competencia. Se realizaron las estimaciones con datos de panel, a través del cual, a raíz de las diferentes pruebas econométricas realizadas, se decidió utilizar el método GLS para las regresiones. Los resultados obtenidos permiten validar la hipótesis en que la relación de la competencia entre las instituciones financieras otorgadoras de crédito con la tasa de morosidad es positiva. Finalmente, los resultados obtenidos podrían justificar investigaciones relacionadas a la regulación en el sector financiero con respecto a la competencia bancaria y sus determinantes. / Considering that the financial sector can be a means to promote the economic development of a country, influencing capital investment in productive activities and expansion of markets, analyzing possible determinants that affect its development is important. The purpose of this research work is to determine whether competition influences the quality of the credit portfolio of credit granting institutions, and, if so, to analyze whether the effect is positive or negative. The years 2010 to 2019 are taken for the period of analysis and for three groups of financial institutions that are banks and, representing the microfinance sector, we have the municipal savings banks and rural savings banks. Previous studies have shown a mostly positive relationship between the delinquency rate and the increase in competition; however, it is not a conclusive result for all countries and periods, therefore determining the relationship for the Peruvian case and in the given years it is innovative. To empirically test that competition affects the loan portfolio, the default rate variable was used to measure the impact of portfolio quality. Likewise, it was proposed to estimate the Lerner index as an indicator of market power in representation of the competition variable. The data panel estimates were made, through which, because of the different econometric tests carried out, it was decided to use the GLS method for the regressions. The results obtained allow us to validate the hypothesis that the relationship between the competition between financial institutions granting credit and the delinquency rate is positive. Finally, the results obtained could justify research related to regulation in the financial sector with respect to banking competition and its determinants. / Trabajo de investigación

A substantial amount of prior research has focused on the relation between Central Bank Independence (CBI) and inflation control. However, this research is mainly theoretical or conducted using cross-country statistical regressions and correlations in the developed world. Little attention has been given to understanding this relation in emerging nations or the influence of interest groups on CBI and inflation in a specific context. This thesis addresses both gaps by conducting an in-depth observation and analysis of this relation in a single country (Lebanon) and the influence of the banking sector on both CBI and inflation during a period of high inflation. This empirical evidence in the case of Lebanon shows that Central Bank Independence from the government – even though abundant and complete – was not enough to control inflation. The influence of the banking sector on both CBI and inflation was more important. This work makes a contribution to knowledge through highlighting the importance of national contexts when evaluating the CBI-inflation relation. Furthermore, this research extends our understanding of the literature and its gaps, and presents a new way to conduct in-depth studies in the field. Finally, it provides practical insights that are of importance to central bankers, especially in emerging nations.

對一開放經濟體系而言，當面臨國際經濟波動的衝擊時，經濟成長率會受到國際經濟波動的衝擊幅度以及其外債負擔額度所影響。本論文第二章建立一個開放經濟的貨幣內生成長模型，在爬行釘住匯率制度下，生產技術以實物資本作為生產要素投入，加上貨幣進入交易成本的設定，從最適均衡的角度來探討當一國經濟體系遭受國際經濟波動的衝擊時，如何透過風險貼水管道來影響經濟成長的表現，以及探討國際金融危機傳遞的過程，同時並探究外債減輕政策的成效。我們發現在最適均衡成長下，當一國面臨國際經濟波動的衝擊時，不但會使長期外債−資本比率下降與實質貨幣−資本比率上升外，同時也伴隨者對國內實質資本需求的減少，進而降低經濟成長率。國際經濟波動所帶來的不利影響會因外債的減輕而獲得紓緩，而有助於經濟成長。 第三章利用亞洲及拉丁美洲20個國家的追蹤資料，檢定過度債務假說的存在以及外債對金融部門發展與經濟成長的影響。實證結果顯示，外債對GDP比率對一國經濟成長具有顯著的負面影響效果，過度債務假說成立；過度債務會透過抑制金融部門的發展，進而妨礙一國的經濟成長。此外，本章的實證結果也顯示一國金融部門的發展與經濟成長，彼此間存在顯著的雙向交互影響關係。 在第四章中，我們同樣利用亞洲及拉丁美洲國家的追蹤資料，藉以衡量外債、國外直接投資、及經濟成長之間的交叉影響效果。實證結果顯示，在這些國家中，國外直接投資對經濟成長具有正面的貢獻，但是過度債務會不利於這些國家的經濟成長。最後，我們也發現一國金融部門發展的健全程度在這之間扮演了重要的角色，即金融市場愈健全的國家，其國外直接投資所帶來對經濟成長的貢獻程度也就愈大。 / For a small open economy, sovereign debt and default have important effects on both economic fluctuations and growth. The instability caused by high levels of external debt may adversely affect economic growth. Consequently, the purpose of chapter 2 is to set out a framework for developing countries embedding nominal money balances to facilitate transactions cost model. Output is produced using a stock of broad-concept productive capital, the international financial externality, and investment expenditures involving adjustment costs. We provide a theoretical formalization that is the base for and explanation of the contagion of financial crises, and find that debt relief is expected to stimulate growth by releasing resources from debt service to investments in infrastructure and reduce the risk of spread. Such investments, in turn, enhance domestic investment, besides attracting private foreign investment. Moreover, we have also found that debt relief will raise the real output capital ratio, the market value of capital, and the real balance-capital ratio, and promote economic growth in the long run. In chapter 3, we use panel data of 20 high external debt countries selected from Asia and Latin-America to investigate the financial sector development-debt-growth nexus within the framework of an endogenous growth and financial development mechanism. First, we found that among 20 high external debt countries, the external debt-to-GDP ratio is significantly negatively correlated with economic growth rates, indicating that excessive debt is detrimental to the growth of an economy. Second, we introduced the simultaneous GMM equations between financial sector development and economic growth to evaluate the interaction effects among economic growth, external debt, and financial sector development. In empirical results, we find that the negative impact of high debt on growth appears to operate through a strong negative effect, in terms of compulsion to resort to financially repressive policies. In addition, we also find a two-way relationship between financial sector development and economic growth. Further, this dissertation also aims to investigate how the link between FDI and economic growth in developing countries. Chapter 4 explores the interplay between foreign direct investment (FDI), external debt and economic growth using panel data analysis for a sample of Asian and Latin American countries. First we use several different panel data models to investigate the determinants of economic growth. Our results suggest that FDI contribute positively to long-term economic growth in these countries, and the percentage of external debt to GDP is negatively correlated with the economic growth rate, indicate that debt overhang impeded growth in Asia and Latin America. Secondly, we introduced the simultaneous GMM equation between FDI and economic growth to examine the various linkages among the relevant determinants of FDI, external debt and economic growth. In empirical results, we find financial development plays an important role in influencing the effects of FDI on output, countries with well-developed financial markets gain significantly from FDI in terms of their growth rates. Furthermore, the negative impact of the short-term debt to external debt ratio, on growth appears to operate through a negative effect on FDI inflows. In addition, we also find evidence that the hypotheses of growth-driven FDI and FDI-led growth are developed on the basis of recent studies on economic effects of FDI in both regions.

The Asian financial crisis in 1997 98 left a severe impact on Malaysia s economy and banking system. This has forced the Malaysian government to undertake financial restructuring initiatives to restore market and public confidence, and to meet the ongoing challenges associated with market structure, financial innovation and globalisation. Therefore, Bank Negara Malaysia (BNM) introduced a ten-year Financial Sector Master Plan (FSMP) to strengthen domestic banks and the regulatory structure, and to promote the banks efficiency by stimulating a competitive banking industry through financial liberalisation. The crisis for banks in Malaysia and the region has been extensively studied in the past (Sufian, 2010). However, empirical studies of the post-crisis period, and the implementation of the FSMP, remain limited. Hence, a data set of all banks in Malaysia, which covers the period 2000 2011, was employed to examine the effect of the FSMP s initiatives on Malaysian banks efficiency between 2000 and 2011. To measure this efficiency, this study employs both parametric and nonparametric models: namely, stochastic frontier analysis (SFA) and data envelopment analysis (DEA). Economic functions such as, cost-, standard profit- and alternative profit-efficiency were used in a 1-stage SFA model, which includes control variables (e.g. capital adequacy, asset quality and liquidity) and environmental variables (e.g. ownership, size, specialisation, deregulation periods and market structure) in the model specifications. In addition, this study employs SFA as the main measurement method, while the DEA model was used to cross-check consistency (Resti, 1997; Bauer et al., 1998). Both SFA and DEA demonstrated that, in most cases, the consistency was moderate. The level of cost efficiency of Malaysian banks worsened over the years 2000 2011, with average cost efficiency during this period was at 76.5%. Despite the various liberalisation measures introduced to the banking industry particularly during the three phases of the FSMP; 2000 2003; 2004 2007; 2008 2011 cost efficiency trended downward, due to the effects of consolidation by domestic banks, deregulation of interest rates, the introduction of foreign Islamic banks, and the global credit crisis. Banks in Malaysia were forced to adjust their inputs and outputs to the rapid changes in the banking industry, which might have made a negative impact on cost efficiency. On the other hand, the banks demonstrated a steadily increasing profit efficiency trend, which fluctuated with the introduction of interest rate liberalisation (early second phase of the FSMP (i.e. 2004)) and during the global credit crisis (early third phase of the FSMP (i.e. 2008)). The average profit efficiency for 2000 2011 was 93.3%. The profit efficiency exhibited an increasing trend in the first (2000-2003) and second (2004-2007) phases of the FSMP, suggesting that the effect of consolidation by domestic banks had resulted in higher market concentration and greater market power among the remaining banks. However, the profit efficiency average scores fell in 2004, 2008 and 2011. This is attributed to the deregulation of interest rates, the deleveraging of the inflow of foreign funds, and the rapid increase in policy interest rates. At a more granular level, domestic banks were found to be more cost efficient, but marginally less profit efficient, when compared to foreign banks. In terms of bank specialisation, conventional banks were more cost- and profit-efficient than Islamic banks. With regard to economies of scale, the majority of Malaysian banks revealed scale economies, illustrated by a U-shape, with medium-sized banks being more scale efficient than small and large banks. These results suggest that, to enhance Malaysian banks efficiency, the government must maintain competitive pressure on the large domestic banks that were consolidated during the first phase of the FSMP (2000-2003). Policymakers may want to further open up banking markets, improve risk management and governance, encourage financial innovation, and support expansion of smaller banks. The implementation of deregulation initiatives during periods of uncertainty (e.g. the global credit crisis) have also resulted in decreasing trend of cost and profit efficiency. Hence, monitoring initiatives, using tools such as frontier measurement is important for regulator s macro- and micro-prudential surveillance.

This thesis examines retail bank workers’ informal learning practices in a major Canadian bank under conditions of rapid organizational restructuring and ongoing automation during the mid- to late-1990s. Based on a national survey of bank workers’ learning practices and ethnographic fieldwork in three branches, the thesis’s key findings are as follows. The poor learning environment in the branches, combined with the bank’s adoption of a formal study training policy, are at odds with both empirical surveys of adults’ informal learning practices and with adults’ preferred ways of learning at work – which are predominantly informal in nature. There is also evidence that informal on-the-job learning is being displaced and crowded out by work-related formal study via the “substitution effect” (Livingstone, 2010, 424). The heavy formal study pressures are heightened by the lack of trade unions and job security, and the vulnerable position of many women workers, particularly those without higher education.