Banking and Finance

Jaminan Modal Dalam Kontrak Mudarabah [Mei 2012].

by Ahmad Hamdi Asri

Teori Bunga Bank dan Kaitannya Dengan Riba Yang Diharamkan [April 2012].

by Ahmad Hamdi Asri

The psychographic segmentation of unit trust investors by factor analysis for Malaysia Financial Services

by Rohaizat Baharun

Study of bank selection criteria & preference in Malaysia's banking services

by Rohaizat Baharun

Le polizze linked come prodotti finanziari e la forma scritta del contratto

by Valerio Sangiovanni

Published in "I contratti", 2012, 357-367

A simultaneous equations estimation of the impact of prompt corrective action on bank capital and risk

by Raj Aggarwal

Assessing the impact of prompt corrective action on bank capital and risk

by Raj Aggarwal

Greed and the Crisis

by Antti Kauppinen

Public lecture given at the Policy Institute, Trinity College Dublin, May 10, 2012.

Is the global economic crisis the result of a moral crisis? Yes, in part. If we distinguish between prudence or... more Is the global economic crisis the result of a moral crisis? Yes, in part. If we distinguish between prudence or healthy pursuit of self-interest and greed or excessive pursuit of material self-interest, untempered by what is due to others, and look at how the crisis came about, we can see that institutional and individual greed has indeed contributed to the problems we're facing. Had institutions and individuals constrained their maximization of profit in accordance with their proper social function and the requirements of fair competition, many ill-advised risks would have remained untaken. In the final section, I make a few proposals as to how to tame the daughters of avarice.

autorizzazione all'attività di intermediazione finanziaria Commentario al testo unico bancario a cura di Capriglione

by Luca R. Perfetti

Reviewing Italian Bank Law provision on authorisation to be provided by Banca d’Italia to professional broker or... more Reviewing Italian Bank Law provision on authorisation to be provided by Banca d’Italia to professional broker or financial operators, the paper proposes a general framework of State regulatory powers on financial and bank system focused on consumer protection instead of public interest or Economic policy

SUKUK BOND: The Global Islamic Financial Instrument

by Salman Ahmed Shaikh

Global financial markets are volatile right now and will remain so for the next 2-years. Equity markets are shaky.... more Global financial markets are volatile right now and will remain so for the next 2-years. Equity markets are shaky. Investors risk appetite is suddenly moving to commodities. Bond market is precarious as Sovereign debt risk goes high. Global economy is slowly moving into recession which will be either U or W-Shaped. Recovery figures are questionable and are creating doubts among investors. So, where are we heading towards? As we navigate through treacherous times, Islamic financial market provides a new hope without speculation and exploitation of resources. The emergence of Sukuk Islamic Bond in the financial markets heralds a new era which can provide much needed financial stability and mitigation of risk in these arduous times. With advent of Sukuk in the financial world, the market players have got a new option to invest into this asset which hold considerable value and benefit for all. This bond promises to all investors an equitable return which is justifiable and above all safe for the strategic investment purpose.

"Conservar el Estado frente al reformismo de la nueva beneficencia"

by Vicente Caballero de la Torre

"Conservar el Estado frente al reformismo de la nueva beneficencia". Le monde diplomatique (Edición española), enero de 2007.

El presente artículo, escrito en 2007, tiene como objeto mostrar las relaciones que se establecen entre el paulatino... more El presente artículo, escrito en 2007, tiene como objeto mostrar las relaciones que se establecen entre el paulatino vaciamiento del Estado de ciertas competencias consideradas “sociales”, el auge de la “sociedad red” –denominada ideológicamente “sociedad de la información”- y el regreso de la beneficencia en forma de Obras sociales a cargo de la banca y las cajas. La banca y las cajas no se aproximan sólo en el "modus operandi" en lo que refiere a la oferta de productos financieros y la “agresividad” de estos sino que también se sitúan en la misma línea de la filantropía "new age".

Centring the computer in the business of banking: Barclays Bank and technological change: 1954-1974

by Ian Martin

My PhD thesis. I graduated from the CHSTM (the Centre for the History of Science Technology and Medicine) at the University of Manchester in 2010.

The introduction of large-scale computing technology into British high street banking in the 1960s was a solution to... more The introduction of large-scale computing technology into British high street banking in the 1960s was a solution to shortages of space and staff. Computers required a first-time dislocation of customer accounting from its confines in the branch, where it had been dealt with by paper-based and mechanised systems, to a new space: the bank computer centre. The implications of this shift have, up until now, not been explored. While historians of business and technology have stressed the continuities between computerisation, punched-card machines, and centralised work, the demands of the computer on decentralised business activities have received little attention. This thesis addresses that shortcoming.

The main vehicle for my analysis is a case study of Barclays Bank. I begin in 1954, when the bank took its initial steps towards branch computerisation, and end twenty years later, when the last of its branches was connected to the system. Blending oral testimonies with visual and written sources, I follow activities inside and outside the computer centre to consider the relationship between computers, business, space and work as the material and discursive aspects of computing technology are connected to existing banking practice.

I contend that while computers did not appear to achieve the quantitative changes in staffing and space that the banks initially desired, there were qualitative effects that reveal different dimensions to technological change. I demonstrate how the computer centre was constructed as an iconic symbol of modernity to project a new organisational identity for the banks; how technology’s materiality changed the look of banking and signalled the approach of “Americanisation”; how the computer could provide opportunities both for learning and for expensive failure; and how the computer centre was a place that reconfigured temporal, occupational and organisational structures to become a nexus of new careers for bank workers turned computer specialists. The result is an analysis of computing use that moves beyond simple causal connections between computers, space and work to highlight the reciprocal and changing nature of their relationships.

'Too far ahead of its time': Barclays, Burroughs and real-time banking

by Ian Martin

Forthcoming in IEEE Annals of the History of Computing 34(2).

The historiography of computing has until now considered real-time computing in banking as predicated on the... more The historiography of computing has until now considered real-time computing in banking as predicated on the possibilities of networked ATMs in the 1970s. This article reveals a different story. It exposes the failed bid by Barclays and Burroughs to make real time a reality for British banking in the 1960s.

Structuring information work: Ferranti and Martins Bank, 1952-1968

by Ian Martin

Forthcoming in Information and Culture 47(3)

The adoption of large-scale computers by the British retail banks in the 1960s required a first-time dislocation of... more The adoption of large-scale computers by the British retail banks in the 1960s required a first-time dislocation of customer accounting from its confines in the branches--where it had been dealt with by paper-based and mechanized information systems-- to a new collective space: the bank computer center. While historians have rightly stressed the continuities between centralized office work, punch-card tabulation, and computerization, the shift from decentralized to centralized information work by means of a computer has received little attention. In this article I examine the case of Ferranti and Martins Bank and employ elements of Anthony Giddens’s structuration theory to highlight the difficulties of transposing old information practices directly onto new computerized information work.

Stochastic programming models for asset liability management

by Stavros Zenios

A COMPARATIVE STUDY OF DOLLAR COST AVERAGING VS. VALUE AVERAGING

by Pawel Stefan Benedykcinski

AUTHOR: PAWEL STEFAN BENEDYKCINSKI and ADVISOR: St. Olaf College ECONOMICS PROF. RICHARD GOEDDE

A COMPARATIVE STUDY OF DOLLAR COST AVERAGING VS. VALUE AVERAGING
Pawel S. Benedykcinski and Prof. Rick Goedde... more A COMPARATIVE STUDY OF DOLLAR COST AVERAGING VS. VALUE AVERAGING
Pawel S. Benedykcinski and Prof. Rick Goedde (Advisor)
Economics Department
St. Olaf College
Northfield, MN

My research compares three investment techniques, fixed and variable dollar cost averaging and value averaging to determine if any of the methods yield superior investment returns in the long run. Mutual funds, stocks, and exchange-traded funds were used to test the methods. Value averaging is a formula-based investment technique using a mathematical formula to guide the investment of money into a portfolio over time. With this method investors contribute to their portfolios in such a way that the portfolio balance increases by a set amount, regardless of market fluctuations. Dollar cost averaging invests equal amounts regularly and periodically over specific time periods in a particular investment or portfolio. By doing so more shares are purchased when prices are low, and fewer shares are purchased when prices are high.

After testing many mutual funds, ETFs, and individual stocks, I concluded that Value Averaging yields better Internal Rates of Return than fixed and variable Dollar Cost Averaging. The results also indicate that the three methods provide superior investment returns over extended investment time periods with little increase in risk, even if prices are volatile. One important difference between these three formula investment techniques is that value averaging requires larger sums of money to be invested at regular time intervals than fixed or variable dollar cost averaging do.

>>i Jylland ... findes faa Capitalister<< Et studie i det jyske Bank-Contoir i Aarhuus' etablering og virke 1837-1848

by Michael Märcher

Published in Erhvervshistorisk Årbog, Aarhus, 2005, vol. 54, 91-114, 219f.

Does knowledge sharing and withholding of information in organizational committees affect quality of group decision-making?

by Caroline Kamau

Kamau, C. & Harorimana, D. (2008)

In today’s knowledge economy, there is an emphasis on group performance, such as in organizations’ committees, yet... more In today’s knowledge economy, there is an emphasis on group performance, such as in organizations’ committees, yet this performance is prone to productivity deficits. Like many other groups, organizational committees are prone to irrational decision-making in the form of groupthink and group polarization. We review evidence that groupthink involves avoidance of contradictory information, biased information sharing, self-censorship, reducing information on the outgroup and poor information pooling. For example, committee members’ conformity to the standards and expectations of an organization can lead them to withhold information that contradicts the organization’s “traditional” viewpoint. In other instances of groupthink, committee members may withhold information from their seniors in order to shield them from opposing views. Committee members undergoing groupthink may also display bias in their information search, such that they seek only that information which supports the committee’s prevailing opinion. We also review evidence showing that highly cohesive groups, those isolated from outside influence, and those with forthright leadership, are most at risk of groupthink. Improving the structure of a committee and having a leadership style that is process-directive, rather than outcome-directive, can reduce groupthink. We also review evidence on group polarization, which involves a shift by a group to an extremely risky or an extremely conservative viewpoint as a result of members influencing each other. We also discuss the impact of novel information on group polarization. We provide an analysis of the impact of faulty decision-making on the downfall of the bank Northern Rock. We consider the possible lack of objectivity in elements of the bank’s decision-making. The fact that Northern Rock did not receive a sufficient amount of outside regulation may have exacerbated groupthink. We discuss the likely role of risky shift in the bank’s attitude to risk and also consider the possible impact of forthright leadership on groupthink within Northern Rock. Groupthink and group polarization pose a danger to organizations that are required to continuously create, update and utilise knowledge in their decision-making, and to implement change in order to compete in shifting markets.

Writing the Economy: Activity, Genre, and Technology in the World of Banking

by Tom Van Hout

Book review of Graham Smart's (2006) Writing the Economy, published in the Journal of Writing Research

Emerging market bank rescues in an era of finance-led neoliberalism: A comparison of Mexico and Turkey

by Thomas Marois

(2011) 'Emerging market bank rescues in an era of finance-led neoliberalism: A comparison of Mexico and Turkey.' Review of International Political Economy, 18 (2). pp. 168-196.

The international community and many financial experts have singled out the positive elements of how strong... more The international community and many financial experts have singled out the positive elements of how strong institutional reforms following Mexico's 1995 and Turkey's 2001 banking crisis have shielded their banking sectors today from the wider economic impact of the world financial crisis. By contrast, this article argues from a historical materialist analytical approach that the 1995 and 2001 bank rescues and reforms preserved, renewed, and intensified the structurally unequal social relations of power and class characteristic of finance-led neoliberal capitalism in forms institutionally specific to Mexican and Turkish society. The post-crisis reforms reinforced the dominance of banking and finance capital in Mexico and Turkey at the expense of popular classes and society in general, and it is this dynamic of power that explains the resilience of banks today.