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Article
Publication date: 1 June 2004

Donato Masciandaro

The objective of this work is to analyse worldwide trends in financial supervision architectures. The focus is on the key issue in the debate – the single supervisor…

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Abstract

The objective of this work is to analyse worldwide trends in financial supervision architectures. The focus is on the key issue in the debate – the single supervisor versus multiauthority model – in order to build up indexes of supervision unification, essential to perform studies on the causes and effects of various supervisory regimes. First, the paper introduces a Financial Authorities’ Concentration (FAC) Index. A comparative analysis of 69 countries confirmed that an increase in the degree of concentration of supervisory powers is evident in the developed countries, and particularly in the European Union. Secondly, the paper considers the nature of the institutions to which control responsibilities are entrusted. In particular, the role the central bank plays in the various national institutional settings is examined. An index of the central bank’s involvement in financial supervision is introduced, the Central Bank as Financial Authority (CBFA) Index. Each national institutional structure can be identified with the two above characteristics. Two models are the most frequent: (a) countries with a high level of unification of powers and weak central bank involvement (single financial authority regimes); and, (b) countries with a low level of unification of powers and strong central bank involvement (central bank dominated multiple supervisor regimes). A trade‐off therefore emerges between the degree of financial sector unification and the role of the central bank. Two possible explanations of this relationship emerged: the blurring hazard effect and the monopolistic bureau effect.

Details

Journal of Financial Regulation and Compliance, vol. 12 no. 2
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 9 October 2009

Lars Silver

The purpose of the paper is to investigate identity change in savings banks. The savings bank movement is gradually shifting from a residual culture of using the bank to…

3386

Abstract

Purpose

The purpose of the paper is to investigate identity change in savings banks. The savings bank movement is gradually shifting from a residual culture of using the bank to promote savings, into a dominant culture closely resembling commercial banks.

Design/methodology/approach

Theory draws on key research in the field of organisational change and corporate identity. A qualitative methodology is used to investigate a large portion of the savings banks movement in Sweden.

Findings

The shift in culture is a result of decreasing values of original visions, a process of commercialising the savings bank idea and increasing chief executive officer (CEO) influence and professionalisation.

Research limitations/implications

The results are primarily applicable for savings banks.

Practical implications

The paper shows the ongoing changes in the savings bank community and the effects of these changes on critical stakeholders. In particular, the important role of CEOs in non‐profit organisations is illustrated and discussed.

Originality/value

Few studies focus on change in culture and the consequences for stakeholder relations. There is no prior study on savings banks and organisational change.

Details

Corporate Communications: An International Journal, vol. 14 no. 4
Type: Research Article
ISSN: 1356-3289

Keywords

Article
Publication date: 1 February 1994

Petrus C. van Duyne

The paper examines certain problems in determining the extent of money‐laundering. The author first discusses the methodological problems inherent in assessing its volume…

Abstract

The paper examines certain problems in determining the extent of money‐laundering. The author first discusses the methodological problems inherent in assessing its volume. He then discusses two methods to estimate the extent of money‐laundering. One method is based on the cash‐flow which is generated by many forms of organised crime trade. In cross‐border money‐laundering constructions the banknotes have to be repatriated to the countries of origin. This creates a registered money trail which may be used to estimate the upper limit of money‐laundering in a national economy. The other method is the one used by the Financial Action Task Force of the G‐7. This method is based on the questionable assumption that 10 per cent of the drug trade is intercepted by the police. The author demonstrates the shortcomings of the FATF method which uses the street price level for its calculations. He warns against politically motivated inflated estimates and stresses the necessity for a methodologically responsible empirical research of this phenomenon.

Details

Journal of Financial Crime, vol. 2 no. 1
Type: Research Article
ISSN: 1359-0790

Article
Publication date: 1 March 1984

THOMAS BAUMGARTNER

The actor‐oriented systems approach, developed by the author and others, is applied to a comparative analysis of inflation and anti‐inflationary policies in Great Britain…

Abstract

The actor‐oriented systems approach, developed by the author and others, is applied to a comparative analysis of inflation and anti‐inflationary policies in Great Britain and Switzerland. Inflation is viewed as a systemic phenomenon, the result of a structure of linked decision settings. The devaluation‐inflation loop characterizing the British situation is then compared with the revaluation‐low inflation loop occurring in the Swiss case, while criticism is directed at the prevailing economic models which do not allow adequate forecasts because they do not incorporate self‐steering human actors.

Details

Kybernetes, vol. 13 no. 3
Type: Research Article
ISSN: 0368-492X

Article
Publication date: 2 September 2014

Niklas Arvidsson

The purpose of this study is to understand turbulence in the field of payments in Europe and which future challenges this bring. The objective is to enable actors …

1123

Abstract

Purpose

The purpose of this study is to understand turbulence in the field of payments in Europe and which future challenges this bring. The objective is to enable actors – industrial as well as policy-making agencies – to avoid becoming passive and reluctant to take needed steps that may realize a new playing field for payments.

Design/methodology/approach

The article uses scenario analysis methodology to propose a way forward if the field of payments is to move away from turbulence and instead embrace renewal. It is based on a literature study, interviews and workshops.

Findings

This article discusses and shows how the payment system is in a state of turbulence, which in itself, may become a self-reinforcing negative process. The seemingly rational competitive actions that firms take in this situation may make the situation worse. The article also outlines critical action that must be taken to avoid this negative process.

Research limitations/implications

There is a need for research that integrates studies on innovation and renewal in the critical industries – banking, telecom and the system driving industries – to improve our understanding of possible synergies and/or obstacles to integrated, cross-industry innovation efforts. Such insights may also lay the foundation for the creation of a way to overcome turbulence.

Practical implications

The article advocates the need that critical actors collaborate to develop a new understanding – or common ground – of a future payment system. This will serve as a tool to identify obstacles and challenges, develop action and formulate agendas for different actors in and around the system. Based on the new common ground, actors are then free to formulate their own strategic agendas in a new competitive landscape in the field of payments.

Social implications

If the turbulence is to be avoided, national governments in the euro area and the European Union Commission must work hard to avoid national exemptions and adaptations (often caused by strong lobbying by companies from each country in question). Innovation agencies must work so as to stimulate renewal. Another task could be to educate consumers on the social and economic benefits of moving away from a cash-based payment system.

Originality/value

The originality of this paper is to test the idea that turbulence and the consequential inertia in the payment system is a result of the institutional set-up of the industry. In addition, the article uses causal texture theory and scenario analysis to understand turbulence and inertia in the payment system. This has, to my knowledge, not been done before.

Details

Foresight, vol. 16 no. 5
Type: Research Article
ISSN: 1463-6689

Keywords

Article
Publication date: 1 February 2000

Wolfgang Michalski, Riel Miller and Barrie Stevens

The prospects for prosperity and well‐being in the 21st century will depend on leveraging social diversity to encourage technological, economic and social dynamism. A…

Abstract

The prospects for prosperity and well‐being in the 21st century will depend on leveraging social diversity to encourage technological, economic and social dynamism. A striking confluence of forces over the next twenty years could drive a twofold convergence: first, towards more highly differentiated and complex societies, and second, towards the adoption of a common set of general policy goals that are conducive to both diversity and social sustainability. In the opening decades of the 21st century four simultaneous and powerful societal transformations will give rise to more variety and interdependence: from the uniformity and obedience of the mass‐era to the uniqueness and creativity of a knowledge economy and society; from rigid and isolated command planning to flexible, open and rule‐based markets; from predominantly agricultural structures to industrial urbanization; and lastly, from a relatively fragmented world of autonomous societies and regions to the dense and indispensable interdependencies of an integrated planet. In different ways and in different parts of the world, greater social complexity will in all likelihood accompany these wrenching shifts. Rather than fear this increase in social diversity we should welcome the opportunities for learning and sharing that could bring prosperity and well‐being. Nevertheless, there are risks of heightened conflict due to the possible polarization that frequently accompanies the passing of old social orders and the emergence of new ones. Policy choices will be the determining factor in minimizing this friction and encouraging the potential synergies.

Details

Foresight, vol. 2 no. 1
Type: Research Article
ISSN: 1463-6689

Keywords

Article
Publication date: 16 March 2010

Mukesh Kumar, Fong Tat Kee and Vincent Charles

This study aims to find the differences in the service quality (if any) between two types of banks, namely conventional and Islamic, in terms of common critical factors…

8041

Abstract

Purpose

This study aims to find the differences in the service quality (if any) between two types of banks, namely conventional and Islamic, in terms of common critical factors after re‐examining the SERVQUAL model, originally pioneered by Parasuraman. Further, the technique of dominance analysis is used to examine the relative importance of the critical factors in closing up the overall service quality gap in these two types of banks.

Design/methodology/approach

The sample is made up of 308 bank customers, consisting of the customers from both Islamic and conventional banks from different parts of Malaysia. The data have been collected by using the structured questionnaire, which consists of three parts. Part 1 deals with consumers' usage of banking channels and their banking behaviour. Part 2 contains 26 statements related to service quality dimensions based on past literature. Finally, Part 3 contains the questions related to the socio‐demographic profiles of respondents.

Findings

The modified SERVQUAL model consists of four critical factors (dimensions) as detected by factor analysis: tangibility, reliability, competence, and convenience. The results reveal that the expectations on competence and convenience are significantly different between conventional banks and Islamic banks, whereas the perceptions on tangibility and convenience are found to be significantly different between these two types of banks. The application of dominance analysis in the SERVQUAL model indicates that the difference between the two types of banks is in terms of degree and not pattern. Competence and convenience are found to be the relatively more dominating factors in both the types of banks. These two dimensions together can help to reduce the overall service quality gap to an extent of 72 per cent in the case of conventional banks and 85 per cent in the case of Islamic banks.

Originality/value

The application of dominance analysis in the SERVQUAL model could be more meaningful in determining the relative importance of the factors when dimensions are interdependent. It permits direct comparison of measures and allows one to predict the level of influence of one factor in comparison with other factors. The study could be quite useful from the policy perspective in providing the guidelines to develop proper strategies and acknowledge the changes in customers' banking behaviour more quickly.

Details

International Journal of Quality & Reliability Management, vol. 27 no. 3
Type: Research Article
ISSN: 0265-671X

Keywords

Article
Publication date: 1 June 1992

Peter James

Briefly describes the role of retailing in the Hungarian economy.Presents a case study of the Centrum department store business toillustrate that, while not adhering to…

Abstract

Briefly describes the role of retailing in the Hungarian economy. Presents a case study of the Centrum department store business to illustrate that, while not adhering to best practice as perceived by Western retailers, this Hungarian retailer demonstrates considerable professional retailing skills.

Details

International Journal of Retail & Distribution Management, vol. 20 no. 6
Type: Research Article
ISSN: 0959-0552

Keywords

Article
Publication date: 6 September 2011

Manshor Amat Taap, Siong Choy Chong, Mukesh Kumar and Tat Kee Fong

Based upon an extended SERVQUAL model, this paper attempts to measure and compare the service quality between conventional and Islamic banks in Malaysia.

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Abstract

Purpose

Based upon an extended SERVQUAL model, this paper attempts to measure and compare the service quality between conventional and Islamic banks in Malaysia.

Design/methodology/approach

A new dimension, i.e. convenience was added to the existing SERVQUAL model of five dimensions. Data were collected from 287 bank customers residing in two major cities in Malaysia using self‐reporting questionnaires. Factor analysis is used to validate the instrument, after which the gap and dominance analyses techniques are employed.

Findings

The factor analysis extracted four dimensions of service quality, i.e. tangibility, reliability, competence, and convenience. The results reveal that there are large and significant differences between respondents' expectations and their perceptions. Specifically, the expectations on competence and convenience are significantly different between the conventional and Islamic banks, whereas the perceptions on tangibility and convenience are found to be significantly different between the two types of banks. The application of dominance analysis to predict the SERVQUAL gap indicates that the difference between the two types of banks lie in terms of degree but not pattern. Competence and convenience are found to be the relatively more dominant dimensions in both types of banks. These two dimensions, taken together, can help to reduce the overall service quality gap to an extent of 72 percent in the case of conventional banks and 85 percent in the case of Islamic banks.

Research limitations/implications

Although the outcomes lend support to the extended SERVQUAL model, the results are derived based on a relatively small sample size with an uneven distribution between the two types of banks. This limits the generalizability of the study results which calls for future research attention.

Practical implications

The Malaysian banking sector needs to take initiative to become more competent by being more responsive through fulfilling their assurance for customers and by providing banking facilities more conveniently.

Originality/value

This study is one of the first to examine and compare the service quality between conventional and Islamic banks using an extended SERVQUAL model. The results could be particularly useful to countries adopting dual banking systems.

Details

International Journal of Quality & Reliability Management, vol. 28 no. 8
Type: Research Article
ISSN: 0265-671X

Keywords

Article
Publication date: 3 April 2018

Mukesh Kumar, K.S. Sujit and Vincent Charles

The purpose of this paper is to propose the microeconomics concept of elasticity to estimate the SERVQUAL gap elasticity to derive important insights for service providers…

Abstract

Purpose

The purpose of this paper is to propose the microeconomics concept of elasticity to estimate the SERVQUAL gap elasticity to derive important insights for service providers to develop the right strategies to bridge the overall gap in service.

Design/methodology/approach

The dimensions of SERVQUAL adopted from Parasuraman et al. (1988) and Kumar et al. (2009) are first verified for their unidimensionality using structural equation modeling and reliability in the context of United Arab Emirates banking industry. Furthermore, the technique of dominance analysis is used to derive the relative importance of dimensions for different groups of banks. Finally, the stepwise log-linear regression models are used to estimate the gap elasticity to measure the responsiveness of the overall SERVQUAL gap to a change in customers’ perception on different dimension.

Findings

The results reveal that the dimension which is prioritized as the most important dimension need not to be the one to be targeted under the resource constraint to react faster to the changes of customers’ banking behavior.

Originality/value

This is probably the first attempt to examine the service quality through gap elasticity. This method is especially useful when the traditional approach to measure relative importance of critical factors fails to clearly discriminate between two or more dimensions, which, in turn, may lead to failure in decision making to choose the right strategies to bridge the overall gap in the service.

Details

International Journal of Quality & Reliability Management, vol. 35 no. 4
Type: Research Article
ISSN: 0265-671X

Keywords

1 – 10 of 303