Search results

21 – 30 of over 17000
Article
Publication date: 1 October 1995

Angus Laing

Explores the purchasing behaviour of independent financial advisors(IFAs) within the context of the UK financial sector. Reports onempirical work in which attitudes of such…

1244

Abstract

Explores the purchasing behaviour of independent financial advisors (IFAs) within the context of the UK financial sector. Reports on empirical work in which attitudes of such independent distributors toward identified supplier selection criteria were assessed. Set within the context of relationship marketing theory, seeks to employ findings to develop a generic conceptual basis for approaching the marketing of services to independent intermediaries.

Details

Journal of Services Marketing, vol. 9 no. 4
Type: Research Article
ISSN: 0887-6045

Keywords

Article
Publication date: 1 May 2001

M. Shahid Ebrahim and Tan Kai Joo

This paper studies the current realities of the Islamic banking system of Brunei Darussalam from the perspective of the theories of modern financial intermediation and Islamic…

11171

Abstract

This paper studies the current realities of the Islamic banking system of Brunei Darussalam from the perspective of the theories of modern financial intermediation and Islamic financial contracting. The limited information on the banking system of Brunei Darussalam reveals that the first phase of the Islamic banking experimentation has been successful, as Islamic banks command roughly 11.5 per cent of the market share. The financial services industry, however, remains extremely competitive and Islamic banks face formidable challenges from conventional banks. Islamic banks can proliferate if they: advance towards the second phase by gradually consolidating retail banking with investment banking; establish vital links with local and foreign institutions; and use ijtihad in modern financial engineering to optimally design loans while simultaneously reducing their risk exposure. An efficient Islamic financial system can allocate limited capital resources to the most profitable ventures and assist in wealth creation. This can foster the growth not only of Negara Brunei Darussalam but also of the regional economies, particularly at this crucial juncture when Asian economies are reeling from the current financial crisis.

Details

International Journal of Social Economics, vol. 28 no. 4
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 27 September 2023

Rashed Jahangir and Mehmet Bulut

This study aims to propose a model to elevate the financial empowerment of Muslim women by rejuvenating the practice of Mahr in society and facilitating the affordability of men…

Abstract

Purpose

This study aims to propose a model to elevate the financial empowerment of Muslim women by rejuvenating the practice of Mahr in society and facilitating the affordability of men to pay that Mahr amount.

Design/methodology/approach

The approach of this study is to offer a model through the interest-free savings-based finance concept. The model comprises four stages; each stage of the model is mathematically formulated and graphically explained to ensure clarity and coherence. To further investigate the issue, the authors use a convenient sampling method to ask a small sample size of respondents (women) from different countries about their financial contribution and empowerment in the family.

Findings

This model enables women to turn their exclusive financial right into a source of earning without borrowing from any source or paying interest on the principal amount. Besides, it encourages accelerating men’s obligation to pay the Mahr to the women immediately during the marriage ceremony by facilitating men’s affordability. Almost 45% of respondents state that a woman’s financial contribution exalts her decision-making power and strengthens her financial position in the family.

Social implications

The authors attempt to revitalize Mahr practice in Muslim society to accelerate the process of receiving a woman’s exclusive financial right and empower a family as a whole through the Mahr model.

Originality/value

Considering the model’s uniqueness, the developed and proposed Mahr model in this research is novel; to the best of the authors’ knowledge, no other study has been conducted and developed such a model using the Mahr concept.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 19 March 2024

Bastien Bezzon, Geoffroy Labrouche and Rachel Levy

This study analyzes the role of regional cooperative banks in identifying and financing small and medium-sized enterprises (SMEs) from a proximity perspective. Access to finance…

Abstract

Purpose

This study analyzes the role of regional cooperative banks in identifying and financing small and medium-sized enterprises (SMEs) from a proximity perspective. Access to finance is a major challenge for SMEs. Regional cooperative banks can remove this barrier based on cooperative bank's characteristics and geographic proximity to SMEs. Understanding the interplay between these financial actors and firms can contribute to a better support of SMEs development.

Design/methodology/approach

The results are based on a case study of eight SMEs located in southwestern France. Interviews were conducted with two regional cooperative funds and eight SMEs. The interview guide included questions related to the company, the projects financed and how financing was accessed.

Findings

Results reveal that a combination of three forms of proximity allows regional cooperative banks and SMEs to establish effective financing operations. They show that regional cooperative banks are key players in the existing financing mechanisms for SMEs. Such financing is often used to gain access to larger players at a later stage. The findings suggest the need for public policies that promote the integration of financing actors in regional ecosystems to advance SMEs' development.

Originality/value

This article examines how SMEs access financing, with a focus on regional cooperative banks, which have received little attention in the literature. Moreover, the relationships between these actors are studied through the lens of proximity. Regional cooperative banks are able to finance projects that may have been overlooked by traditional banks due to trust-building local dynamics.

Details

Journal of Small Business and Enterprise Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1462-6004

Keywords

Article
Publication date: 6 March 2007

Prasanna Gai, Nigel Jenkinson and Sujit Kapadia

In recent years, the financial system has been changing rapidly. At the same time, macroeconomic volatility has fallen in developed countries. The purpose of this paper is to…

3179

Abstract

Purpose

In recent years, the financial system has been changing rapidly. At the same time, macroeconomic volatility has fallen in developed countries. The purpose of this paper is to examine how these developments may have affected the nature of systemic crises. The paper also aims to discuss how central banks and other financial regulators might respond to these developments with a clearer, more rigorous, operational framework for their systemic financial stability work.

Design/methodology/approach

The paper describes analytical models developed at the Bank of England to assess how recent developments may have affected the probability and potential impact of systemic financial crises. The results from these models help to shape the practical framework for the Bank's financial stability work.

Findings

The models suggest that financial innovation and integration, coupled with greater macroeconomic stability, have served to make systemic crises in developed countries less likely than in the past, but potentially more severe. Implementing a practical framework for financial stability work in response to this raises many formidable challenges.

Practical implications

If individuals are risk‐averse, the recent change in the profile of crises could lower welfare and would suggest that policymakers should place a higher premium on actions to monitor and mitigate systemic risk. The analysis also highlights the importance of differentiating the probability of risks from their potential impact.

Originality/value

The paper will be of interest to academics interested in systemic risk, central bankers, financial regulators, and financial market participants.

Details

The Journal of Risk Finance, vol. 8 no. 2
Type: Research Article
ISSN: 1526-5943

Keywords

Book part
Publication date: 15 September 2022

Peterson K. Ozili

Objective: Recently, there has been an increase in the use of cryptocurrency, decentralised finance (DeFi) applications and DeFi services in several countries. These innovations…

Abstract

Objective: Recently, there has been an increase in the use of cryptocurrency, decentralised finance (DeFi) applications and DeFi services in several countries. These innovations facilitate the delivery of financial services using smart contracts. DeFi encompasses all financial services that are built on public blockchains, based on open protocols and removes intermediaries from the financial intermediation process. There is significant cryptocurrency activity in Africa while DeFi developments are relatively new and unpopular in the African continent. This chapter introduces DeFi in Africa. It presents some statistics and data on DeFi in Africa. Thereafter, the potential benefits, challenges and regulatory issues associated with DeFi in Africa are presented.

Method: This study used literature reviews and external data sources to show the benefits and advantages of DeFi .

Findings: The findings show that there is low interest in DeFi in Africa. Some benefits of DeFi to African countries include increased liquidity for many small- and medium-scale enterprises (SMEs), new opportunities to raise additional capital to fund capital-intensive activities, usher in an era of smart contracts that are negotiated bilaterally without needing an intermediary, encourage peer-to-peer trade between economic agents in several African countries, enhance the efficiency of the Pan-African Payment Settlement System and encourage more trade between individuals and corporations under the African Continental Free Trade Agreement, among others.

Originality: This is the first chapter to examine DeFi in Africa.

Details

The New Digital Era: Digitalisation, Emerging Risks and Opportunities
Type: Book
ISBN: 978-1-80382-980-7

Keywords

Book part
Publication date: 23 December 2005

Mukund Narayanamurti and Jonathan A. Batten

Post-crisis policy measures in Asia have focussed on banking sector and market reform. The paper argues that in order to propel growth, banking and market reform in Asia must be…

Abstract

Post-crisis policy measures in Asia have focussed on banking sector and market reform. The paper argues that in order to propel growth, banking and market reform in Asia must be undertaken with the view that they are not mutually exclusive competitive tradeoffs. Rather banks and markets must be viewed as complementary supportive pillars in a financial system. Additionally, legal and functional reform must be undertaken simultaneously. The paper proposes that a likely consequence of doing so will enable creating a four-pillared multi-dimensional growth paradigm in the region to help restore and promote growth.

Details

Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the 21st Century
Type: Book
ISBN: 978-0-76231-258-0

Open Access
Article
Publication date: 5 September 2023

Katarzyna Sum, Mariusz-Jan Radło and Marta Mackiewicz

The aim of this article is to investigate how the use of financial instruments influences the development of Regional Development Funds (RFR) in Poland and to assess the maturity…

Abstract

Purpose

The aim of this article is to investigate how the use of financial instruments influences the development of Regional Development Funds (RFR) in Poland and to assess the maturity and coherence of the regional development financing system in this country.

Design/methodology/approach

The methodology is based on the multilevel governance literature and on data collected during 26 in-depth interviews in regional, national and international institutions.

Findings

The authors demonstrate that the use of financial instruments stimulates new kinds of cooperation between several institutions and contributes to the establishment of RFR. The authors also show that the Polish regional financing system is still developing and formulate recommendations about necessary improvements.

Originality/value

The main contribution of this article, in addition to taking up a new, relevant topic for the regional development policy in countries benefiting from European Union (EU) cohesion policy, is the application of the multilevel governance (MLG) concept to explain the development of the Polish regional development financing system. Moreover, the significant added value of this study comes from the use of data collected during 26 in-depth interviews (IDI) in regional, national and international institutions on the use of repayable instruments in regional development policy.

Details

Central European Management Journal, vol. 31 no. 3
Type: Research Article
ISSN: 2658-0845

Keywords

Article
Publication date: 8 October 2019

Andrea Lippi, Laura Barbieri and Federica Poli

The purpose of this paper is to examine which individual traits of financial advisors influence portfolio transfer speed when a financial advisor recommends investors to migrate…

Abstract

Purpose

The purpose of this paper is to examine which individual traits of financial advisors influence portfolio transfer speed when a financial advisor recommends investors to migrate to a new financial intermediary.

Design/methodology/approach

With reference to the years 2014–2016, one of the three leading Italian tied-agent banks provided the authors with an exclusive and unique data set containing information regarding the financial advisors who had become tied agents, transferring their existing portfolios from their previous banks (traditional or tied-agent banks). The authors observed the ability of the migrant financial advisor in successfully transferring the entire portfolio declared within 12 months of observation. To investigate empirically which personal traits of financial advisors determine their success in the rapid transfer of clients’ portfolios to a new financial intermediary, the authors applied a Cox proportional hazards model.

Findings

The authors find that factors such as age, type of bank of origin and size of the managed financial portfolio positively affect the speed transfer.

Practical implications

The obtained results may be interesting for guiding recruiting policies of financial intermediaries.

Social implications

Regulators should closely examine the phenomenon analyzed in this paper to avoid conflict of interests.

Originality/value

The literature on this topic is scarce, mainly due to the lack of available data. This paper represents an original contribution to open a new field of research.

Details

International Journal of Bank Marketing, vol. 38 no. 2
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 1 April 2014

Simplice Asongu

A spectre is hunting embryonic African monetary zones: the European Monetary Union crisis. The purpose of this paper is to assess real, monetary and fiscal policy convergence…

Abstract

Purpose

A spectre is hunting embryonic African monetary zones: the European Monetary Union crisis. The purpose of this paper is to assess real, monetary and fiscal policy convergence within the proposed WAM and EAM zones. The introduction of common currencies in West and East Africa is facing stiff challenges in the timing of monetary convergence, the imperative of central bankers to apply common modeling and forecasting methods of monetary policy transmission, as well as the requirements of common structural and institutional characteristics among candidate states.

Design/methodology/approach

In the analysis: monetary policy targets inflation and financial dynamics of depth, efficiency, activity and size; real sector policy targets economic performance in terms of GDP growth at macro and micro levels; while, fiscal policy targets debt-to-GDP and deficit-to-GDP ratios. A dynamic panel GMM estimation with data from different non-overlapping intervals is employed. The implied rate of convergence and the time required to achieve full (100 percent) convergence are then computed from the estimations.

Findings

Findings suggest overwhelming lack of convergence: initial conditions for financial development are different across countries; fundamental characteristics as common monetary policy initiatives and IMF-backed financial reform programs are implemented differently across countries; there is remarkable evidence of cross-country variations in structural characteristics of macroeconomic performance; institutional cross-country differences could also be responsible for the deficiency in convergence within the potential monetary zones; absence of fiscal policy convergence and no potential for eliminating idiosyncratic fiscal shocks due to business cycle incoherence.

Practical implications

As a policy implication, heterogeneous structural and institutional characteristics across countries are giving rise to different levels and patterns of financial intermediary development. Thus, member states should work towards harmonizing cross-country differences in structural and institutional characteristics that hamper the effectiveness of convergence in monetary, real and fiscal policies. This could be done by stringently monitoring the implementation of existing common initiatives and/or the adoption of new reforms programs.

Originality/value

It is one of the few attempts to investigate the issue of convergence within the proposed WAM and EAM unions.

Details

African Journal of Economic and Management Studies, vol. 5 no. 1
Type: Research Article
ISSN: 2040-0705

Keywords

21 – 30 of over 17000