Rozprawy doktorskie na temat „BANKING SECTOR PERSPECTIVE”

This thesis investigates various aspects of systemic risk in nancial networks. Chapter 1 explores the existence of a contagion channel to security returns given that banks are connected via overlapping portfolios. Making use of a proprietary dataset on securities held by German banks, I identify the network induced through cross holdings and nd higher correlations among the returns on securities held by connected banks. This contagion channel to security returns is stronger for banks which are large, highly leveraged and highly interconnected and especially at work during the recent nancial crisis. Chapter 2 establishes a model for bank credit risk interconnectedness based on CDS data, in which defaults can be triggered by systematic global and country shocks as well as idiosyncratic bank-speci c shocks. Applying the framework to a sample of large European nancial institutions reveals that the credit risk network captures a substantial amount of dependence in addition to what is explained by systematic factors. Chapter 3 analyzes the relation between market-based bank credit risk interconnectedness and the associated balance sheet linkages via funding and securities holdings. Results suggest that market-based measures of interdependence can serve well as risk monitoring tools in the absence of disaggregated high-frequency bank fundamental data.
Aquesta tesi investiga diversos aspectes del risc sistèmic en xarxes fi nanceres. El Capítol 1 explora l'existència d'un canal de contagi als rendiments dels actius ates que els bancs estan connectats per portafolis superposats. Fent ús d'una base de dades d'actius financers de bancs Alemanys, identi fico la xarxa induida a través de participacions creuades i trobo correlacions altes entre els rendiments d'actius en poder de bancs connectats. Aquest canal de contagi a rendiments d'actius és més fort per bancs que són més grans, altament endeutats i altament interconnectats, i es va intensifi car durant la recent crisi fi nancera. El Capíol 2 estableix un model d'interconectivitat de risc de crèdit bancari basat en dades del CDS, en el que l'impagament pot ser causat per shocks sistèmics locals o globals o per shocks específi cs dels bancs. Aplicant aquest marc de referència a una mostra d'institucions fi nanceres europees grans, es revela que el risc de crèdit de xarxa captura una part substancial de la dependència,a més del que és explicat per factors sistèmics. El Capítol 3 analitza la relació entre l'interconectivitat del risc de crèdit bancari de mercat i les connexions de balanç de situació associades via finançament i tinences de valors. Els resultats suggereixen que les mesures d'interdependència basades en el mercat serveixen bé com a eines de monitorització del risc en absència de dades bancàries fonamentals.

As a result from the latest financial crisis, the banking industry has undergone major modifications during the last years in order to limit banks’ risks. A vast majority of existing literature tends to focus upon credit risk evaluation methods and techniques mainly concerning quantitative measures and large companies. Thus, the lack of research regarding credit risk evaluation of SMEs is profound, especially considering Sweden. With the dominant market share of SMEs compared to large corporations the authors found it interesting to further explore this area of the credit assessment process as SMEs largely impact the Swedish business sector.   The purpose of the thesis at hand is to explore and provide empirical evidence of which criteria banks assess when evaluating credit risk of SMEs in Sweden. In regards to the purpose the authors have chosen to adapt the perspective of the banking industry throughout the thesis. In order to bridge the research gap the following question was established, “How do banks evaluate credit risk of SMEs in Sweden?” In light of the lack of research regarding qualitative assessment of credit risk, the authors found it interesting in terms of developing new theoretical and practical knowledge to establish the following sub-question, “What are the qualitative criteria used by banks when evaluating credit risk of SMEs in Sweden?” Further, as existing literature mainly focus on large companies the authors found it interesting to compare the findings regarding credit risk evaluation on SMEs to the evaluation process of one of the largest credit rating agencies. As a result the second sub-question was established as following, “Are these criteria similar to the criteria used by Standard & Poor’s in their rating model?” These questions were conducted in order to provide the authors and the reader with further insight regarding the criteria used by banks in their evaluation process.   An inductive approach was adopted, in line with the epistemological stance of interpretivism and the ontological belief of constructivism. With this in mind, the authors of the thesis conducted a qualitative exploratory research employing narrative interviews in order to collect the data needed, as of the lack of existing research to address the research questions.   The results of the research were that the criteria used in the assessment of credit risk tend to alter from advisor to advisor. The most commonly used criteria by the advisors are budget, business plan, customer’s customers, internal and external discipline, financial statements, industry specifics, historical accounts, key individuals, relationship, repayment capacity and the owner/individual. It was discovered that the qualitative criterion of assessing the individual majorly impacts the credit risk evaluation. However, what matters in the end is the overall impression of both qualitative and quantitative measures of the firm.   In regards to sub-question one, the authors established a list of qualitative criteria used by advisors in their credit risk evaluation of SMEs, the most widely used criteria among the advisors are the owner/individual, key individuals, internal discipline, industry specifics, external discipline, customer’s customers, relationship and business plan. In comparison with the criteria used by Standard and Poor’s and the banks, it was evident that the criteria used in the evaluation differed a lot between the two.

The study investigates corporate social responsibility (CSR) theory to contribute to knowledge about CSR within the setting of a developing economy. In this thesis, the specific opportunities and challenges of financial institutions pursuing CSR are examined in depth. This study presents a portrayal of CSR, addressing its role and insight into how CSR is understood and practised. The study draws on an interpretive approach and investigates within a multiple case study context. The choice of cases is based on theoretical sampling, to advance knowledge in the phenomenon by looking at it in non-Western settings. The three cases are selected purposefully within the context of a developing economy: Ghana. The data collection and analysis use multiple data sources from semi-structured interviews of key management informants and archival documents which are analysed according to qualitative data protocols. The data is interpreted via thematic analysis within and across the cases to generate rich insights into the nature of CSR and its practices within their setting. The study recognises the emergent divergent and convergent issues of CSR across the cases with relation to enfolding the literature which involves inquiring with different literature the similarities and contradictions with the research findings. This process helps to link the study with the existing body of knowledge, as well as advance knowledge in CSR. Based on the analysis, this study suggests that there is a strong orientation towards philanthropy on what is classified as CSR. It reveals that the context in which CSR is practised is complex and situationally dependent, with particular influencing factors such as social welfare issues and culture driving societal expectations and business decisions on CSR. This study offers a revised model of CSR, suggesting a non-linear relationship with the integrated and porous dynamics between the various CSR components which thus provides insight into the nature of CSR in the banking sector in Ghana. The findings of the research can provide both academics and managers with valuable information on CSR practice in a developing country context.

In the past, many organisations used to keep their information on paper, which resulted in the loss of important information. In today’s knowledge era the information super-highway facilitates highly connected electronic environments where business applications can communicate on an intra- as well as inter-organizational level. As business expanded more into the cyber-world, so did the need to protect the information they have. Technology advances did not only bring benefits, it also increased the vulnerability of companies’ information. Information, the lifeblood of an organization, must be protected from threats such as hackers and fraud, amongst others. In the highly regulated financial sector, the protection of information is not only a best practice, but a legal obligation carrying penalties for non-compliance. From a positive aspect, organisations can identify security controls that can help them to secure their information, with the aid of legal sources. But organisations find themselves burdened by a burgeoning number of legal sources and requirements, which require vast resources and often become unmanageable. This research focuses on finding a solution for South African banks to comply with multiple legal sources, as seen from an information security perspective.

In today’s competitive business environment, banks operate in a severe rivalry due to various factors, including globalisation, fast technological developments and homogeneous nature of banks services. For this reason, building valuable brands is crucial in differentiating banks and adding value to the banking services. The research problem that emerged was: investigating the major bank marketing communication tools to examine their impact on building bank brand equity. The researcher went about in achieving this purpose by: identifying the major marketing communication tools used by banks that help build bank brand equity via the customer-based brand equity (CBBE) dimensions from customers’ perspective; and testing and analysing the hypotheses in order to develop the final research model. In order for this purpose to be attained, two research questions were answered: what are the major bank marketing communication tools that help build bank brand equity? Which hypotheses regarding the impact of the major bank marketing communication tools on building bank brand equity via the CBBE dimensions are supported in this study? This research was carried out in the Egyptian banking sector from the customer perspective. Mixed-method research was used. The first phase was the qualitative research approach, which consists of conducting and analysing semi-structured interviews. These interviews were carried out with fifteen bank customers based on judgmental sampling technique. The purpose of these interviews were to identify the major bank marketing communication tools that help build bank brand equity via the CBBE dimensions; to help develop a proposed conceptual framework; to help develop the research hypotheses; and to help develop the intended questionnaire survey. According to the findings, advertising, personal selling and direct marketing were the most popular marketing communication tools in the Egyptian society for banks. Once the needed insights were emerged, the second phase, the quantitative phase, was conducted. The researcher distributed and collected large-scale questionnaire survey. These questionnaires were carried out with 465 bank customers based on a quota sampling technique. These questionnaires were then analysed by using Structural Equation Modelling (SEM) to test and analyse the research hypotheses; and to help develop the final research model. Findings showed that the major bank marketing communication tools consist of personal selling, direct marketing and advertising respectively according to their importance on building bank brand equity. Given the fact that all CBBE dimensions are interrelated, not all of them directly impact bank brand equity. Only brand loyalty and brand perceived quality were found to have a significant positive direct effect on bank brand equity. When conducting this study, the researcher faced several limitations. The data were collected only in Cairo and Alexandria; only the major controllable marketing communication tools were assessed, and non-probability sampling was used.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009.
ENGLISH ABSTRACT: The research report investigates the risk/return relationship in the primary agricultural sector in the Western Cape from a commercial bank's perspective. The study investigated the correlation between credit risk and return within a randomly selected portfolio of agricultural borrowers. Different risk categories were investigated to detennine which category correlates best with return. The effect of below prime and above prime pricing on return was also investigated. The study was conducted in the context of the turmoil in financial markets since the beginning of 2008, caused by excessive credit risks. This has led to the need for better regulation in the financial services industry and better pricing decisions. Factors supporting this need for better regulation include securitisation of debt, consolidation, globalisation and the systemic risk that banks impose on the economy. The Basel Capital Accord introduced new regulatory requirements for the banking industry to ensure more effective management of credit risk. Risk management processes in agriculture are also subject to the requirements of this accord. The agricultural sector is characterised by unpredictable climatological conditions, poor governmental support, low profitability, overcapitalisation and price volatility, which cause this sector to be especially exposed to credit risk. The credit risk of borrowers within the case study bank was measured in tenns of a default grade using a behavioural risk rating model. Risk ratings are used for profitability analysis, risk management and regulatory reporting. These ratings are assigned during the annual review process, when borrowers are exposed to a business viability assessment. Banks incur risk costs when accommodating a borrower's credit risk, which has a negative effect on the return that the borrower generates for the bank. This emphasises the importance of correlation between credit risk and pricing and by implication return for sustainable profit margins. The research results indicated that no correlation exists between credit risk and pricing. This lack of correlation can be attributed to eontracrual agreements, relationship banking, technological constraints, asset growth, price sensitivity in the agricultural sector and the nature of the risks in agriculture. The study also found that a negative correlation exists between credit risk and return. This can be attributed to the fact that the higher the credit risk, the more economic capital is required to support this risk and the more it costs. This implies a lower return on capital. It is recommended that the risk/return relationship should be improved by reducing credit risk, increasing non-interest income, ensuring that new borrowers are priced adequately, differentiating the existing portfolio in terms of value and improving the negotiating skills of bankers. No meaningful conclusion could be drawn with regard to the effect that below prime and above prime pricing have on return.
AFRIKAANSE OPSOMMING: Die studieverslag ondersoek die verwantskap tussen risiko en opbrengs in die primere landbousektor in die Wes-Kaap vanuit die perspektief van 'n kommersiele bank. Dit ondersoek die korrelasie tussen kredietrisiko en opbrengs in 'n ewekansige steekproef van landboukliente. Verskillende risikokategoriee is ondersoek om te bepaal watter kategorie die beste korrelasie tussen risiko en opbrengs verteenwoordig. Die invloed van beprysing onder en bo prima op opbrengskoers word ook ondersoek. Die studie is gedoen in die konteks van die krisis in die finansiele markle sedert die begin van 2008, wat veroorsaak is deur oornatige kredietrisiko. Dit het die behoefte aan beter regulering in die finansiiHedienste-industrie asook beter beprysingsbesluite laat ontstaan. Faktore wat hierdie behoefte aan beter regulering ondersteun, sluit in die verhandelbaarheid van krediet, konsolidasie, globalisasie en die sistemiese risiko wat banke vir die ekonomie inhou. Die Baselooreenkoms het nuwe regulatoriese vereistes aan die bankindustrie gesteil om meer effektiewe bestuur van kredietrisiko te verseker. Risikobestuursprosesse in die landbou is ook onderhewig aan die vereistes van die Baselooreenkoms. Die landbousektor word gekenmerk deur onvoorspelbare klimatologiese toestande, swak regeringsondersteuning, lae winsgewendheid, oorkapitalisering en prysskommelinge, wat veroorsaak dat hierdie sektor buitengewoon blootgestel is aan kredietrisiko. Die kredietrisiko van die kliente van die gevallestudiebank is gemeet volgens 'n waarskynlikheidsgradering wat verkry word vanaf 'n risikomodel wat op gedragspatrone gebaseer is. Risikograderings word gebruik vir winsgewendheidsontledings, risikobestuur en regulatoriese verslaggewing. Dit word tydens die jaarlikse hersieningsproses toegeken, wanneer kliente aan 'n lewensvatbaarheidstudie blootgestel word. Banke gaan risikokostes aan om die kredietrisiko van kliente te akkommodeer, wat 'n negatiewe uitwerking het op die opbrengs wat daardie klient vir die bank genereer. Dit beklemtoon die belangrikheid van korrelasie tussen kredietrisiko en beprysing en by implikasie opbrengs vir volhoubare winsgrense. Die navorsingsresultate toon dat daar geen korrelasie tussen kredietrisiko en beprysing bestaan nie. Hierdie gebrek aan korrelasie kan toegeskryf word aan leningskontrakte, verhoudingsbankwese, tegnologiese beperkings, bategroei, pryssensitiwiteit in die landbousektor en die aard van die risiko's in die landbou. Die studie het ook bevind dat daar 'n negatiewe korrelasie is tussen kredietrisiko en opbrengs. Dit kan toegeskryf word aan die feit dat hoe hoer kredietrisiko is, hoe meer ekonomiese kapitaal vereis gaan word om hierdie risiko te ondersteun en hoe hoer gaan die risikokostes wees. Dit impliseer 'n laer opbrengs op kapitaal. Om die verwantskap tussen risiko en opbrengs te verbeter, word aanbeveel dat kredietrisiko verminder word, nie-rente-inkomste verhoog word, nuwe kliente korrek beprys word, differensiasie van die bestaande portefeulje plaasvind in terme van waardetoevoeging en die onderhandelingsvermoe van bankiere verbeter word. Geen betekenisvolle gevolgtrekking kon gemaak word aangaande die effek wat beprysing onder en bo prima op die opbrengskoers het nie.

Mestrado em Finanças
Tal como o próprio título refere com a presente dissertação pretendemos analisar as perspectivas sobre o impacto do envelhecimento da população no sector bancário. O presente estudo foi levado a cabo com base na análise de dois pontos: Banca; Seus clientes. No primeiro ponto foram realizados inquéritos à Banca tentando-se abranger o maior número de instituições bancárias. O inquérito teve como objectivo recolher informação sobre quais as medidas que estão a ser tomadas para suplantar o problema do envelhecimento da população, de maneira a evitar a fuga de clientes. No segundo ponto foram feitos inquéritos aos clientes por forma a tomar conhecimento do que a outra parte acha desta situação, se a Banca está ou não devidamente adaptada a uma população envelhecida, e, no caso de não estar se tem tomado as medidas necessárias. Após a recolha dos inquéritos procedeu-se ao tratamento da informação e retiraram-se as devidas conclusões. Estas foram seguidamente cruzadas, de maneira a tentar saber se os dois grupos de inquiridos têm ideias completamente divergentes do que deve ser uma Banca ajustada a uma população envelhecida, ou se, pelo contrário, ainda que não esteja devidamente adaptada, esta vai de encontro às necessidades de ambas as partes e procura acautelar que, no futuro esta situação deixe de ser um problema.
The thesis aims at analysing the impact of aging in the banking sector. This study was carried out in the following manner: the analysis was divided in two points: Review of the baking sector; Costumers' assessment of products and services. Regarding the first point, it was made a survey to the banks in order to collect information, regarding the adjustments banks are making to face problems/features arising from the aging of their clients. In the second point, a survey was made to the clients, in order to know their opinion regarding the banks response to their costumers' demands. After collecting all the necessary information, all data was processed in order to withdraw. Them the results that had been withdrawn separately were crossed, to reach joint conclusions, so that we could understand if the banking sector is adapted to the consumers' needs and if their expectations regarding the products and services are fulfilled.

The aim of this thesis is to examine an emerging sub-field within the broad area of HRM: talent management (TM). Since its emergence, TM has been described as strategically important, yet lacking in conceptual clarity (Lewis & Heckman, 2006). More precisely, it is a little unclear what talent is and how talent are managed differently from the rest of the workforce. Thus, the evaluation of the effectiveness of TM in relation to outcomes such as employees’ attitudes and behaviours remains uncertain. For this reason, this dissertation explores a range of employees’ responses to the differentiated talent management approach in the banking sector of Gulf Cooperation Council countries and the mechanisms behind why these reactions occur. By first exploring TM in the GCC countries; then investigating different sources of talent identification within organisations and how these might influence key employee outcomes, namely affective commitment, intention to leave and extra-role behaviours. Theoretical propositions are tested to explore the psychological mechanisms underlying employees’ responses to TM and under what conditions these may vary, drawing on social-exchange theory (Blau, 1964), social-cognitive theory (Bandura, 1982) and organisational justice theory (Greenberg, 1990). The findings indicate that social exchange theory accounts for employee outcomes more than social-cognitive theory. Additionally, procedural justice plays a significant role in buffering the TM effects. This thesis offers four contributions to the TM field. First it provides a wider exploration of talent identification, using a multiple talent identification sources. Second, it tests for key employee outcomes that received limited empirical investigation. Third, it draws on two theories that might explain how a differentiated TM approach leads to its proposed effects. Finally, it utilises organisational justice theory to show how to neutralise its effects for all employees.

It is increasingly being recognised that service quality has a strong correlation with customer satisfaction. Researchers have debated the topic of private banking sector versus public banking sector in both Western and Far East countries, and found that the private banking sector outperforms the public banking sector in many areas, including productivity, efficiency, and profitability. However, literature and empirical studies on banking service quality in Libya are scarce, and this potentially impacts on organisation performance. This research aimed to assess and compare the levels of service quality provided by the Libyan private and public banking sectors to identify if there are significant differences between the private and public banking sectors in terms of service quality levels, as perceived by bank customers. The research adopted a survey questionnaire based on the amended Banking Service Quality Scale. It included six service quality dimensions, broken down into 31 statements, for capturing the wide range of services offered by banks. A total of 2000 questionnaires were administered to customers of the two banking sectors (public and private) and 740 (370 from each sector) were returned, which amounts to a 37% response rate. The research findings show that there are significant differences between the Libyan private and public banking sectors in terms of customer perceptions of service quality and the degree of importance attached to various dimensions of service quality. The results also suggest there is a relationship between bank status and customers’ age, occupation, number of branch visits, and period of relationship with a bank. The study has revealed, however, that there is no relationship between customer gender and bank status. The research has significant implications for Libyan banks in terms of developing operational, marketing and human resource strategies, and can help Libyan banks to incorporate service quality issues into their strategic planning. The study may be useful for application in countries with a similar banking culture as Libya. This study contributes to the understanding of service quality in terms of the Libyan banking context. The added value of this study emanates from the fact the research was conducted in Libya (a developing country with an extremely limited amount of service quality research conducted therein), and the fact it measured and assessed the service quality in both Libyan private and public banking sectors which form, along with the central bank, the entire Libyan banking system.

Talent Management (TM) is of growing interest within academia and in the strategic HRM literature in particular. Despite many attempts to study TM from different perspectives, it remains an ambiguous and elusive concept that is difficult to define and hence challenging to explore and address. Studies on TM are based within Western contexts and therefore it is questionable whether TM models and theories are transferable to other nations and contexts. This research examines the nature of TM in the Middle Eastern context of Oman, from the perspective of Institutional Theory. Through a qualitative, multiple case-study approach, data was collected from four banking and petroleum-sector organisations through semi-structured interviews. The findings suggest that the different influences of institutional pressures (e.g. nationalisation, competition, organisational characteristics) have significantly shaped TM in these organisations. The findings show that TM effectiveness and sustainability depends upon a range of factors including: generational differences, employee expectations, the role of expatriates and national culture. Thus, TM and its approach has to be understood and framed within the context of institutions which interact with organisational characteristics; this shapes the way in which the organisations define their TM approach in order to seek legitimacy, business continuity and effectiveness.

Talent Management (TM) is of growing interest within academia and in the strategic HRM literature in particular. Despite many attempts to study TM from different perspectives, it remains an ambiguous and elusive concept that is difficult to define and hence challenging to explore and address. Studies on TM are based within Western contexts and therefore it is questionable whether TM models and theories are transferable to other nations and contexts. This research examines the nature of TM in the Middle Eastern context of Oman, from the perspective of Institutional Theory. Through a qualitative, multiple case-study approach, data was collected from four banking and petroleum-sector organisations through semi-structured interviews. The findings suggest that the different influences of institutional pressures (e.g. nationalisation, competition, organisational characteristics) have significantly shaped TM in these organisations. The findings show that TM effectiveness and sustainability depends upon a range of factors including: generational differences, employee expectations, the role of expatriates and national culture. Thus, TM and its approach has to be understood and framed within the context of institutions which interact with organisational characteristics; this shapes the way in which the organisations define their TM approach in order to seek legitimacy, business continuity and effectiveness.

Ce travail de recherche porte sur l’évaluation du système d’information (SI) bancaire de front-office. Àtravers un cadre d’analyse sociotechnique, nous avons cherché à identifier les variables et leurs liens àprendre en compte pour évaluer le succès perçu du SI auprès des utilisateurs. La proposition centrale est quele succès perçu du SI bancaire de front-office dépend à la fois de caractéristiques techniques et sociales.Aussi, les spécificités du monde bancaire, l’évolution de l’environnement aussi bien réglementaire queconcurrentiel, nous ont convaincus de la nécessité d’une évaluation appropriée au domaine bancaire. C’estpourquoi ce travail de recherche est composé d’une part d’une approche qualitative exploratoire afind’identifier les variables spécifiques au domaine bancaire, et d’autre part d’une démarche quantitative denature hypothético-déductive.Au final, on propose un modèle composé de huit variables (les qualités de la formation, du système, duservice, de l’information, l’utilisation, la satisfaction, le soutien des managers intermédiaires, les bénéficesnets) expliquant le chemin menant au succès du SI bancaire. L’influence de la participation des utilisateurs àune phase de projet concernant le SI, ainsi que celle des caractéristiques sociodémographiques desrépondants ont été analysées.Ce modèle constitue à la fois un apport théorique, mais aussi managérial puisque les banques disposentmaintenant d’un instrument leur permettant de mesurer le succès de leur SI.Ce travail souligne l’importance de certaines variables, et met en évidence des liaisons spécifiques audomaine bancaire
This research focuses on evaluating the banks’ front office information system (IS). By using asociotechnical analysis frame, we wished to identify the variables and the links that have to be taken intoaccount in order to evaluate the perceived IS success among users. The main proposal is that this perceivedsuccess depends on characteristics which are both technical and social ones. At the same time, we wereconvinced by the bank specificities, rules and competition evolution, that an evaluation, peculiar to the fieldof the banks, is necessary. This is why this research uses at the same time a qualitative approach, to identifythe specific variables in the bank world, and a quantitative approach based on hypothesis and deduction.We finally propose a model showing eight variables (the qualities of the training, the system, the service, theinformation, the use, the satisfaction, the middle managers’ support, the net profit) which enlight the wayleading to the success of bank IS. Both users’ participation to a IS step of a project and the surveyed people’ssociodemographic characteristics were analysed. This model both provides a theoretical and managerialaspect, since the banks now have a tool measuring the success of their Information System. This workemphasizes the weight of some variables and highlights some links specific to the banks field

碩士
國立高雄第一科技大學
資訊管理所
91
In recent years, the continuously increasing number of users of mobile phone make mobile commerce comes up. For the sake of competition advantage, bankers allied with mobile operators to develop mobile banking services. At present bankers concern about mobile banking system are STK (SIM application Tool Kit), WAP (Wireless Application Protocol), and FISC Mobile Banking System. Each of these systems has advantage and disadvantage. Hence system selection of mobile banking is an important problem to a bank as the mobile banking system is a long-term investment for the bank. The main goal of this research is to investigate the influencing factor of banking sectors introduce the mobile banking system. This study uses a technology-organization-environment framework and AHP (Analytic Hierarchy Process) method to investigate banker innovation adoption mobile banking system. According to literature studies of organization innovation adoption, and the circumstance of mobile banking systems, we construct our framework. This framework has four layers and divides into three aspects, and twenty-four criteria are estimated. This study divides questionnaires into three groups, top managers, middle managers, and junior managers, to analysis. The research find out the different manager class has various viewpoints when banks introduce the mobile banking system.

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Management specialising in Entrepreneurship and New Venture Creation Johannesburg, 2017
In South Africa, very little research has been conducted to test the entrepreneurial intentions of highly educated and skilled black professionals. A significant portion of entrepreneurial intention research is primarily focused on students. Very little is known about the entrepreneurial intentions of mid-career individuals who are in highly specialised industries. More specifically, no research has looked at testing the entrepreneurial intentions among managers within the banking sector. Specifically, the study is aimed at determining whether self-efficacy, family background and the role of government influences entrepreneurship intentions among black managers within the banking sector. The study was done within the major banks in the Gauteng province of South Africa. 220 questionnaires were sent to bank employees who are managers and specialists in their role. The testing for hypothesis involved the relationship between dependent variable, entrepreneurship intention and the independent variables; desirability of self-efficacy, family background, government support. The analysis was done using SPSS version 23 using descriptive statistics and hierarchical multiple regression analysis. ANOVA was carried out where there was a need to compare groups of cases for differences in their means along particular variables. The analysis concludes that the independent variables, such as self- efficacy, family background and government support have a significantly positive relationship to entrepreneurship intention. The regression analysis also verified that there is a significant influence between independent variable and attitudes toward entrepreneurship among black bank managers. The findings suggest that there are high levels of self-efficacy among black managers in the banking sector. The results revealed that entrepreneurial self-efficacy has the most significant and positive impact on their intention to become an entrepreneur. It is also worth noting that government support plays an integral part in influencing the entrepreneurial intentions of the respondents. Although this study focused on the antecedents of intentions to start a business, future research must also explore relationships between intentions and behaviour.
MT2017

Derivatives are an important class of financial instruments that are central to today’s financial and trade markets. They offer various types of risk protection and allow innovative investment strategies. Derivatives markets have been in existence in India in some form or other for a long time. However, the ban on futures trading of many commodities was lifted starting in the early 2000s, and national electronic commodity exchanges were created. India’s tryst with derivatives began in 2000 when both the NSE and the BSE commenced trading in equity derivatives. In June 2000, index futures became the first type of derivate instruments to be launched in the Indian markets, followed by index options in June 2001, options in individual stocks in July 2001, and futures in single stock derivatives in November 2001. The turnover of derivatives on the NSE increased from Rs 23,654 million in 2000–2001 to Rs. 292,482,211 million in 2010–2011. Derivative products like index futures, stock futures, index options and stock options have become important instruments of price discovery, portfolio diversification and risk hedging in stock markets all over the world in recent times. An option is a financial instrument (Derivative) which gives holder of the option the right to do something, but holder does not have to exercise the right. The price of option is theoretically determined by many models like binomial method, Black –Scholes option pricing formula, put-call parity, Volatility jump model etc. out of which Black Scholes option pricing model is the most popular and widely used throughout the world. Black and Scholes developed closed-form formula to calculate the prices of European calls and puts, based on certain assumptions by showing how to hedge continuously the exposure on the short position of an option. Partial differential equation, derived by them, referred to as the Black–Scholes equation, governs the price of the option over time. Delhi School of Management, DTU Page vi This research, covering a period of five years from 2008 to 2012 gives the modern day perspective of Black Scholes implication on Call options pricing with sample covering the top 5 banks based on ET500 list of top 500 companies in India and compare it with the CNX Bank Nifty index that capture the movement of 12 most traded banks on NSE. This report covers some of the angles of an empirical study such as the sensitivity of the model to its variables, comparing the theoretical value of call option with the actual and understanding the deviation from the current market. Finally, this report tests the validity of the various assumptions of Black – Scholes model.

One of the most critical challenges facing South Africa is the shortage of skills. The Financial Services Sector, of which banks form part, is also affected by this problem and this poses a risk in achieving the targeted Gross Domestic Product (GDP). The quality and level of education offered in South African Higher Education Institutions is perceived as being insufficient to that which is required in the industry and is a possible contributing factor towards the skills shortage problem. The study was motivated by the concerns raised by some scholars concerning the relevance of the management accounting syllabus as compared with the technical skills required in the banking industry. Investigating this is important as the Financial Services Sector, which includes the banking industry, is one of the largest employers of management accountants in South Africa and there is a paucity of research in this area. The aim of the study was to determine whether management accounting technical skills provided by an ODeL University in South Africa meet banking employers’ expectations. A qualitative research approach was used to conduct interviews with nineteen participants from three banks and ten academics from the ODeL University and includes a qualitative documentary analysis to review and analyse the study material for four management accounting modules and the mapping of the management accounting syllabus to the SAICA competency framework. The results reflect the data obtained from the interviews. The analysis of the interviews is organised under five main themes as follows: Function of management accounting within the banking sector; recruitment of graduates and development of management accounting technical skills; identified technical skills lacking in new graduates employed by banks; bank specific training at an ODeL institution (an academic perspective) and strategies to bridge the gap. The results of the analysis conducted on the management accounting study material from the ODeL University are presented in four categories; Costing, Financial Management, Accounting Data Processing and the SAICA Competency Framework. The results indicate that bank employers acknowledge the work achieved by higher education institutions in providing students with basic management accounting skills, which enable them to start working in management accounting positions in banks. However, bank participants were concerned with graduates’ inability to link theory with practical application and further confirmed that graduates lack a number of relevant technical skills. Academics confirmed that the management accounting syllabus does not give much attention to banks and other financial service industries; it is dominated by activities and case studies related to manufacturing industries. The analysis of the prescribed study material supports this and indicates that there are insufficient activities related to service companies and very few references to financial services sector entities. Several recommendations were made by participants which, inter alia include incorporating relevant activities and case studies into the management accounting syllabus and greater reciprocity between the banking industry and universities. This study contributes to the literature on management accounting technical skills’ relevance to banks and by extension, the financial services sector. It provides insights on the management accounting technical skills that are currently lacking in graduates. Additional areas warranting further research are also identified.
Omnye weyona micelimngeni enobuzaza ojongene noMzantsi Afrika kukunqongophala kwezakhono. ICandelo leeNkonzo zezeMali, apho iibhanki ziyinxalenye zalo, nalo liyachaphazeleka yile ngxaki kwaye oku kubeka umngcipheko ekuphumezeni iMveliso yeKhaya ePheleleyo (iGDP). Umgangatho nenqanaba lemfundo ezinikezelwa kumaZiko eMfundo ePhakamileyo aseMzantsi Afrika zibonwa njengezingonelanga kwinto efunekayo kushishino, kwaye ibonwa iyinto enempembelelo kwingxaki yokunqongophalo lwezakhono. Uphando lwakhuthazwa yinkxalabo ephakanyiswe zezinye izifundiswa malunga nokuhambelana kolawulo lwesilabhasi yobalo-mali (accounting) xa kuthelekiswa nezakhono zobugcisa ezifunekayo kushishino lwebhanki. Ukuphanda oku kubalulekile njengeCandelo leNkonzo yezeziMali, nelibandakanya ishishini lebhanki, elingelinye labaqeshi abakhulu labacubunguli bobalo-mali eMzantsi Afrika, kwaye kukho ubuncinane bophando kulo mcimbi. Injongo yophando yayikukufumanisa ukuba ingaba izakhono zobuchule bokuphatha ezobalo-mali ezinikezwa yiYunivesithi ye-ODeL eMzantsi Afrika ziyahlangabezana nokulindelwe ngabaqeshi beebhanki. Inkqubo yophando esemgangathweni yasetyenziswa ukwenza udliwanondlebe nabathathi-nxaxheba abalishumi elinesixhenxe abaphuma kwiibhanki ezintathu kunye nabafundisi/abahlohli abalishumi kwiYunivesithi ye-ODeL, kwaye ibandakanya nokucazulula idotyhumentari esemgangathweni ukwenza isincomo-gxeko nokucazulula izixhobo zokufunda kwiimodyuli ezine zolawulo lwezobalo-mali kunye nokuzoba isilabhasi yolawulo lwezibalo-mali kwisakhelo sesikhokelo sezakhono kwi-SAICA. Iziphumo zibonisa idatha efunyenwe kudliwanondlebe. Ucazululo lodliwanondlebe luhlelwe phantsi kwezihloko ezihlanu eziphambili ngolu hlobo lulandelayo: Umsebenzi wolawulo lwezibalo-mali ngaphakathi kwecandelo lokulondoloza(banking); ukufunwa kwabafundi abathweswe izidanga kunye nokuphuhliswa kwezakhono zobalo-mali; ukuchongwa kwezakhono zobugcisa ezinqongopheleyo kubafundi abatsha abaqashwe ziibhanki; uqeqesho olukhethekileyo lwebhanki kwiyunivesithi ye-ODeL (umbono wemfundo) kunye nezicwangciso zokuvala isikhewu. Iziphumo zohlalutyo olwenziweyo kwizixhobo zokufunda zolawulo lwezobalo-mali kwiYunivesithi ye-ODeL zivezwa ngokwamanqanaba amane; Ukubiza indleko, ukuPhathwa kwezeMali, ukuPhathwa kweDatha yezoBalo-mali (Accounting) kunye neSakhelo sezakhono ze-SAICA. Iziphumo zibonisa ukuba abaqeshi bebhanki bawunika ingqalelo umsebenzi owenziweyo ngamaziko emfundo ephakamileyo ekuboneleleni ngezakhono zolawulo lwezemali, into eyenza abafundi ukuba bakwazi ukuqalisa ukusebenza kwizikhundla zobalo-mali kwiibhanki. Nangona kunjalo, abathathi-nxaxheba bebhanki babenenkxalabo yokungakwazi kwabafundi ukudibanisa i-thiyori kunye nendlela yokusebenza kwaye baphinda baqinisekisa ukuba abafundi abaphumeleleyo bayasilela kwizakhono ezininzi zobugcisa ezifanelekileyo. Abahlohli baqinisekisile ukuba isilabhasi yolawulo lobalo-mali ayiniki ngqalelo enkulu kwiibhanki nakwamanye amashishini enkonzo yezemali; ilawulwa yimisebenzi kunye nezifundo ezinxulumene nemizimveliso. Uhlalutyo lwezixhobo zokufunda ezimiselweyo ziyakuxhasa oku kwaye zibonisa ukuba ayonelanga imizekeliso esetyenziswayo enxulumene neenkampani zenkonzo kunye nezalathiso ezimbalwa kakhulu kumacandelo enkonzo yezemali. Izindululo ezininzi zaye zenziwa ngabathathi-nxaxheba bathi, phakathi kwezinye izinto zibandakanya ukongezwa kwemizekelo efanelekileyo kunye nezifundo zokufundwa (case studies) kwisilabhasi yolawulo lobalo-mali kunye nokusebenzisana okukuko phakathi kweshishini lebhanki neeyunivesithi. Olu phando lunegalelo kuncwadi lolawulo lwezakhono zobuchule bobugcisa bobalo-mali obufanelekileyo kwiibhanki nakwicandelo leenkonzo zezezimali jikelele. Lunika ingcaciso kwizakhono zolawulo zobalo-mali ezisasilelayo okwangoku kwabo banezidanga. Iindawo ezongeziweyo ezisafuna uphando olongeziweyo nazo zikwachongiwe.
Ye nngwe ya ditlhohlo tše di nyakago tekolo ka tlhokomedišišo tše Afrika Borwa e lebanego natšo ke tlhokego ya bokgoni. Lekala la Ditirelo tša Ditšhelete, leo dipanka di lego karolo ya lona, le lona le angwa ke bothata bjo gomme se se hlola tšhošetšo ya go fihlelela palomoka ya ditšhelete tša dithoto le ditirelo tšeo di tšweleditšwego nageng (GDP). Boleng le boemo bja thuto yeo e rutwago ka go Diinstitušene tša Thuto ya Godingwana tša Afrika Borwa di tšewa go ba tšeo di sa kgotsofatšego go ena le tše di nyakegago diintastering gape ke ntlha yeo e ka hlolago bothata bja tlhaelo ya bokgoni. Thutelo ye e hlohleleditšwe ke dipelaelo tšeo di hlagišitšwego ke baithuti ba bangwe malebana le maleba a lenaneothuto la tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho ge go bapetšwa le bokgoni le tsebo tšeo di nyakegago go phethagatša mešongwana ye e itšeng intasering ya go panka ditšhelete. Go nyakišiša se go bohlokwa ka ge Lekala la Ditirelo tša Ditšhelete, le le akaretšago intasteri ya go panka ditšhelete, e le ye nngwe ya bathapi ba bantšintši ba batho bao ba fago khamphani datha le tshedimošo ka ditšhelete gore di dirišwe kgodišong ya kgwebo ya yona ka Afrika Borwa efela go na le dinyakišišo tšeo di sego tše ntši go sehlogo se. Maikemišetšo a thutelo ye e be e le go šupa ge eba bokgoni le tsebo tšeo di nyakegago go phethagatša tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho bjoo bo rutwago ke yunibesithi ya ODeL ka Afrika Borwa bo kgotsofatša ditetelo tša bathapi ba dipankeng. Mokgwatebelelo wa nyakišišo ka go utolla mokgwa wa bophelo bja setšhaba se itšeng o dirišitšwe go phethagatša ditherišano le batšeakarolo ba lesomesenyane go tšwa dipankeng tše tharo le dirutegi tše lesome go tša yunibesithing ya ODeL gomme o akaretša tshekatsheko ya kanegelo ya ditiragalo ya go kwešiša mabaka le dikgopolo go lebelela le go sekaseka ditlakelo tša thuto tša mebotšulo ya tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho le go tswalanya lenaneothuto la tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho le tlhako ya botsebi ya SAICA. Dipoelo di laeditše datha yeo e hweditšwego go tšwa ditherišanong. Tshekatsheko ya ditherišano e beakantšwe go ya ka merero ye mene ka mo go latelago: Tiro ya tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho ka go lekala go panka ditšhelete; kalatšo ya dialoga le kgodišo ya bokgoni le tsebo tšeo di nyakegago go phethagatša tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho; bokgoni le tsebo tšeo di nyakegago go phethagatša mešongwana ye e itšeng tšeo di šupilwego tšeo di se nago dialoga tše mpsha tšeo di thapilwego ke dipanka; tlhahlo ye e lebanego go tša dipanka institušeneng ya ODeL (tebelelo ya borutegi) le maano a go tswalela sekgala seo. Dipoelo tša tshekatsheko yeo e phethagaditšwego go ditlakelo tša thuto tša tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho go tšwa yunibesithing ya ODeL di hlagišitšwe ka magoro a mane; Kakanyatshenyegelo, Bolaodi bja ditšhelete, Phetolelo ya datha go popego yeo e ka dirišwago ka go Tšhupamatlotlo le Tlhako ya Botsebi ya SAICA. Dipoelo di bontšha gore bathapi ba dipankeng ba amogela modiro wo o fihleletšwego ke diinstitušene tša thuto ya godingwana wa go fa baithuti bokgoni bja motheo bja tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho bjoo bo ba kgontšhago go thoma go šoma maemong a tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho dipankeng. Le ge go le bjalo, batšeakarolo dipankeng ba be ba tshwenywa ke go se kgone ga dialoga go tswalanya teori le tirišo ya ka mehla gape ba tiiša gore dialoga di hloka bokgoni le tsebo tšeo di nyakegago go phethagatša mešongwana ye e itšeng. Dirutegi di tiišitše gore lenaneothuto la tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho ga e fe šedi ye ntši go dipanka le diintasteri tše dingwe tša tirelo ya ditšhelete; go go dirwago gagolo ke ditiro le dithutelo tša ditiragalo tše itšeng tšeo di sepelelanago le diintasteri tša tšweletšo. Tshekatsheko ya ditlakelo tša thuto tše di kgethetšwego baithuti di thekga ntlha ye le go šupa gore go na le ditiro tšeo e sego tše ntši tšeo di tswalanego le go direla dikhamphani le ditšhupetšo tše mmalwa go dipopego ka boikemelo bja tšona tša lekala la ditirelo tša ditšhelete. Batšeakarolo ba file ditšhišinyo tše mmalwa tšeo ka morago , gare ga tše dingwe, di akaretšago ditiro tša maleba le dithutelo go ditiragalo tše di bilego gona ka go lenaneothuto la tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho le go fana ka bogolwane gare ga intasteri ya go panka le diyunibesithi. Thutelo ye e na le seabe go sengwalwa ka ga maleba a dipanka go bokgoni le tsebo tšeo di nyakegago go phethagatša mešongwana ye e itšeng tša tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho gapegape le go Lekala la Ditirelo tša Ditšhelete. E fa tshedimošo ka ga bokgoni le tsebo tšeo di nyakegago go phethagatša tshekatsheko ya matlotlo a kgwebo go thuša bolaodi go dira diphetho tšeo di hlaelago go dialoga. Mafelo a tlaleletšo ao a hlokago dinyakišišo tše dingwe le ona a šupilwe.
Finance, Risk Management and Banking
M. Ph. (Accounting Sciences)

This study focus on the perspective of cybersecurity in the financial services industry namely the Banking & Capital Markets, Insurance and Wealth & Asset Management sectors. Suffering the highest costs of cybersecurity and dealing with increasing sophisticated attacks, organizations within this industry must consider cyberattacks in their strategic planning. The comparison analysis suggests that the main vulnerability appointed by the three sectors are careless employees, their lack of training as well budget constraints and minor executive support. Moreover, the Board should acknowledge itself about information security in order to establish effective preventive and reactive measures. At last, cyber insurance interest is improving within the three sectors.

Mestrado em Ciências Empresariais
As grandes mudanças estruturais na esfera global, por meio das novas ferramentas tecnológicas, repercutiram-se na padronização de hábitos, de culturas e de valores dos diferentes agentes internacionais. Neste pressuposto, elegeu-se analisar a repercussão dessa standardização na conjuntura socioeconómica de Angola, mais especificamente no sector bancário. Este estudo pretende identificar o perfil do gestor de topo angolano no sector bancário, nesta "nova Angol a''. Para esse desígnio, optou-se por seleccionar os gestores intennédios dos bancos em análise para a representação da amostra, com base em três indicadores - género, área de trabalho e tipo de banco. Adicionalmente, seleccionou-se sete conceitos da área do Comportamento Organizacional - estratégia, conhecimento, confiança, motivação, inovação, conflito e reputação - para captar o impacto do gestor de topo no desempenho da organização.
The big structural changes at the global levei through lhe new technology too Is had ao impact on standardi7..ation of customs, cultures and values of the different intemational acton;. Under this asswnption, it was selected to analyze lhe impact of standardization on socio economic situation of Angol a, specifically in the banking sector. This st udy i n tcnds to idcn ti fy the pro file of the angola n senior manager in the ban ki ng sector in this "new Angola." For lhis purpose, it was selccted the middle managen; of lhe banks under discussion for lhe represemation of the sample, based on three indicators - gender, work area and type ofbank. Additionally, it was selectcd seven concepts in lhe field of Organizational Behaviour- strategy, knowledge, confidence, motivation, innovation, conflict and reputation- to capture úte impact of úte top managcr in lhe organization's perfonnance.
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