Search results

The purpose of this paper is to explore two identified knowledge gaps: first, the identification and analysis of online searching trends for Financial Technology (FinTech)-related jobs and education information in UK, and second to assess the current strength of the FinTech-related job distribution in terms of job titles and locations in UK, job market in UK and what is required to help it to grow.

Two sets of data were used in this study in order to fill the two identified knowledge gaps. First, six years’ worth of data, for the period from September 2012 to August 2018 was collected from Google Trends. This was in the form of search term keyword text. The hypothesis was designed correspondingly, and the results were reviewed and evaluated using a relevant statistical tool. Second, relevant data were extracted from the “Indeed” website (www.indeed.co.uk) by means of a simple VBA programme written in Excel. In total, the textual data for 500 job advertisements, including the keyword “FinTech”, were downloaded from that website.

The authors found that there was a continuously increasing trend in the use of the keyword “fintech” under the category “Jobs and Education” in online searching from September 2012 to August 2018. The authors demonstrated that this trend was statistically significant. In contrast, the trends for searches using both “finance” and “accounting” were slightly decreased over the same period. Furthermore, the authors identified the geographic distribution of the fintech-related jobs in the UK. In regard to job titles, the authors discovered that “manager” was the most frequently searched term, followed by “developer” and “engineer”.

Educators could use this research as a reference in the development of the portfolio of their courses. In addition, the findings from this study could also enable potential participators to reflect on their career development. It is worth noting that the motivations for carrying out an internet search are complex, and each of these needs to be understood. There are many factors that would affect how an information seeker would behave with the obtained information. More work is still needed in order to encourage more people to enter to the FinTech sector.

In the planning stage prior to launching a new course educators often need to justify the market need: this analysis could provide a supporting rationale and enable a new course to launch more quickly. Consequently, the pipeline of talent supply to the sector would also be benefitted. The authors believe this is the first time that a study like this had been conducted to explore specifically the availability and opportunities for FinTech education and retraining in UK. The authors anticipate that this study will become the primary reference for researchers, educators and policy makers engaged in future research or practical applications on related topics.

The latest financial crisis has stressed the need of understanding the world financial system as a network of interconnected institutions, where financial linkages play a fundamental role in the spread of systemic risks. In this paper we propose to enrich the topological perspective of network models with a more structured statistical framework, that of Bayesian Gaussian graphical models. From a statistical viewpoint, we propose a new class of hierarchical Bayesian graphical models that can split correlations between institutions into country specific and idiosyncratic ones, in a way that parallels the decomposition of returns in the well-known Capital Asset Pricing Model. From a financial economics viewpoint, we suggest a way to model systemic risk that can explicitly take into account frictions between different financial markets, particularly suited to study the ongoing banking union process in Europe. From a computational viewpoint, we develop a novel Markov chain Monte Carlo algorithm based on Bayes factor thresholding.

This work aims to analyse money prizes awarded in European football club competitions organised by UEFA and the impact of these prizes on club performance in National Leagues. In pursuing this objective, the authors discuss the overall effect on the competitiveness of national leagues. The ultimate goal is to provide valuable insights and useful indications relating to the future of National and European Professional Football Competitions, a topic of increasingly heated debate. The authors specifically address the possible creation of a European Super League.

In order to test the specific impact of UEFA money prizes on clubs' national performance, the authors applied two multiple regression models, with a sample of clubs participating in four out of the big five National Leagues in European Football over the period 2013–2108. The authors used a series of economic variables as control variables, in keeping with previous studies on similar topics as presented in the literature review.

The results of the analyses show that money prizes have a significant and specific impact on European club competitions organised by UEFA in terms of improving national sport performances for clubs participating in said competitions. More in detail, the authors found this degree of impact not only in the season when this money was awarded but also in the following season.

The originality of the paper lies in the empirical demonstration of the role of European competitions (via UEFA money prizes impacting clubs' national performances) in consolidating a general downward trend in competitive balance in the most important European Leagues.

Temporal dominance of sensation (TDS) is a sensory method developed by Pineau et al. (2003) which studies the sequence of dominant sensations of a product during its consumption. TDS is believed to be more appropriate to explain consumer responses than static descriptive analysis due to its temporal element. The purpose of this paper is to define the temporal sensory profile of a new product: polenta stick. In particular, TDS method was used to measure the dominance of sensory attributes in polenta stick samples and dynamic consumer tests were performed in order to verify if the acceptability changed over time during sample consumption.

Eight polenta sticks, different in terms of storage conditions, cooking procedures and serving temperatures, were analysed by means of TDS with 13 assessors. During two preliminary sessions, the attributes list, constituted by the nine most cited sensations, was generated. Five replications were carried out. In dynamic consumer tests, 50 subjects were asked to give their liking on a seven-category scale for the frozen samples, in different five moments during the evaluation.

TDS results showed a significant effect of the experimental conditions on dominant attribute perception of polenta sticks. For the oven-cooked samples, more flavour attributes were perceived as dominant, whereas for the fried samples, the attributes crispness and oiliness overcame with a high panel dominance rate and for a long time. For the chilled samples, crispness had the highest panel dominance rate; whereas for the frozen samples, creaminess was the most dominant attribute. Consumer liking scores did not significantly change over time during consumption for all the samples. The fried samples received the highest liking scores, at both serving temperatures.

The chosen sensory methods gave the authors important information about the real perception of the products during consumption. A lot of foodstuffs show several sensory properties that appear in different times during evaluation and/or consumption. These properties could affect overall liking so they should be taken into account.

New dynamic sensory methods were used to characterize a new food product, i.e. polenta-based sticks. The procedure used to evaluate the liking by consumers was completely innovative, whereas the sensory method used to characterize the samples was recently developed. The new food product was developed as an aim of an Italian research project funded by MiSE (Ministero dello Sviluppo Economico) for the valorization of maize flour (MAISFOOD, Industria 2015).

This paper aims to examine the market risk disclosure practices of large Italian banks. The contribution provides insights on the way banks should provide information about market risk. The problem related to the asymmetric information between banks from one side, and investors and stakeholders on the other, represents a crucial issue that requires further considerations by scholars and regulators.

This contribution adopts a mixed methodological approach to analyse both qualitative and quantitative profiles of market risk disclosure in banking. This paper analyses the most important documents Italian banks are required to prepare for risk disclosure purposes, namely the management commentary, the Basel Pillar 3 disclosure report and the notes.

The results show that banks do not fully exploit the potentialities of management commentary and Pillar 3 disclosure report. Various areas of information overlapping between the different financial reports worsen the overall comprehensibility and relevance of bank risk reporting.

The reduction of the information overlapping, the careful choice of the location of the information and more appropriate use of the management commentary to provide qualitative information about market risk strategies represent crucial areas of improvement banks and regulators should take into account.

Providing an in-depth analysis of the market risk disclosure practices of a sample of large Italian banks, this paper detects the main drawbacks of their market risk reporting and provides useful recommendations to improve it.

This paper aims to propose a new indicator of product differentiation in the mortgage market and use it to examine how the double crisis, local market competition and bank-specific characteristics have influenced the supply of non-conventional mortgages in Italy.

This paper uses a special Bank of Italy’s survey on 400 Italian banks over the period 2006–2013, to compute a new indicator for product differentiation in the mortgage market. This paper considers mortgage with non-conventional characteristics: loan-to-value ratio greater than 80%; duration longer than 30 years or with a flexible maturity. This paper estimates probit and ordinary least squares (OLS) models using panel data at bank-time level.

The findings suggest that during the double crisis that hit the Italian economy between 2008 and 2013, the diversification process in the Italian household mortgage market slowed down. Controlling for banks’ and local markets’ this study finds that larger, less risky banks and those that have adopted scoring systems are more likely to offer non-conventional mortgages; moreover, banks operating in more competitive markets and in markets where other banks offer non-conventional loans tend to diversify their supply more. Most of these indications are confirmed by analyzing the quantities actually granted. These results suggest that the structure of the local markets does matter, and that there could be a non-price competition effect among banks in providing differentiated mortgage contracts.

The indicator, computed using data at bank level drawn from a special Bank of Italy’s survey, goes beyond the standard approach on product differentiation followed in the empirical literature, mainly base on the dichotomy between fixed and variable lending rates. Furthermore, to best of the authors’ knowledge, so far there is no empirical evidence on the supply-side factors that influenced the diversification of mortgages’ contractual terms during the crisis; particularly, there is no evidence on the role of local market competition and bank-specific features. This paper contributes to fill this gap in the literature.