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THE IMPACT OF THE FINANCIAL CRISIS ON THE EUROPEAN BANKS  [PDF]
DAVID DELIA
Annals of the University of Oradea : Economic Science , 2012,
Abstract: The fast innovations existent on financial markets and the internationalization of cash-flows in the last decade led to changes within the banking industry making it unrecognized. The financial innovation within the banking industry, especially the one regarding the off-balance-sheet instruments has effects as the risk focus and the increase of volatility within the entire banking industry. As it is proved by the economic crisis, the financial stability plays an important role within the financial system as well as within the economy as a whole. At the moment, as the number of active financial institutions is getting higher and higher in one or more countries or on one or more continents, the financial stability at a worldwide level became even more important. The objective of this work is to emphasize the way in which the European banks were affected once with the global financial crisis. The economic crisis was triggered by the bankruptcy of the Lehman Brothers a€ Investment Bank, in the autumn of 2008 and its effects were felt at the level of the European financial markets, a series of cross-border groups claiming interventions of the state in order for them to be saved. The intensity of the crisis was felt and it affected many states, the impact of these ones being influenced by a series of specific factors which outlined the situation of their financial system, at the moment of the crisis release. At the level of the European Union, a series of measures have been established in order to extinguish the identified dysfunctions at a financial field level, among which we mention: the improvement of the surveillance framework of those financial institutions having cross-border activity, the expansion of the communication and cooperation among the EU surveillance authorities and the ones outside the Union, etc. The conclusions of the study of this paper work in regards to the activity of the main European banks, especially to the ones from Western Europe, is the fact that during the crisis period, they intensified their cross-border activities and increased their incomes. The increase of incomes was generated by both the fast efficient measures taken by the state and the volatility of the emergent markets. All these aspects were detailed in the content of this paper work. As far as this work is concerned, the method used here consist in a deductive-type research, which means that the starting point is represented by general facts in order to get to particular ones, starting from a theory that has as purpose the application of that certain prediction, as
On the Market Risks Prevention of China’s Commercial Banks’Financial Product under the Financial Crisis  [cached]
Mengchun Ding,Hongxin Li
International Journal of Business and Management , 2009, DOI: 10.5539/ijbm.v4n8p113
Abstract: The year 2009 faces significant changes of economy. In front of the global financial crisis originated from Wall Street sub-prime mortgage crisis, China will be affected inevitably. The financial products market of the banking industry suffers from serious test. Starting from the concept, the classification, the risks, and the development of China’s commercial banks’ financial products, this paper analyzes the market risks of China’s commercial banks’ financial products under the financial crisis and advances specific countermeasures for China’s commercial banks dealing with crisis and defending market risks.
The Issue of Transparency in the Financial Statements of Commercial Banks: Empirical Evidence after the Global Financial Crisis  [cached]
Yen Hoang Bui
Asian Journal of Finance & Accounting , 2011, DOI: 10.5296/ajfa.v3i1.1001
Abstract: The debate on the applicability of Fair Value Accounting has resurfaced after the Global Financial Crisis. This study contributes to this debate by empirically comparing the effects when the fair value changes of financial instruments disclosed in the notes are considered in the primary financial statements. The study’s sample is four major Australian banks and four of the largest American banks and covers the period from 2005 to 2010. The results show that Comprehensive Income of the sample banks is extremely negatively affected by fair value changes. Shareholders’ Equity is also negatively affected, although the effects are not material. These findings indicate that, from a market value perspective, the underlying performance and risks of commercial banks are not properly reflected in the financial statements. By contrast, as a consequence of high holdings of regulatory capital, fair value changes do not trigger violations of Tier 1 Capital Ratio and Total Capital Ratio. Similar results are found for American banks when capital injections from the Troubled Assets Relief Programme are excluded.
Changing the Game – Financial Crisis, the Swedish Financial Supervisory Authority and Reward Systems in Swedish Banks
International Journal of Finance and Accounting , 2013, DOI: 10.5923/j.ijfa.20130201.04
Abstract: As a consequence of the financial crisis new regulations initiated by organizations such as the Committee of European Banking Supervisors were imposed. The regulation aims to create a stable financial system where compensation is based on longer term with lower risk structure as a result. This paper describes how Sweden’s four largest banks have worked with the implementation of the regulation, especially when it comes to reward systems. Since the aim of the paper is to understand how the banks worked with the implementation semi-structured interviews were conducted with leading HRM managers in the banks. Written documentations and news material was also a part of the empirical material. Findings show that the majority of banks welcomed the regulation itself and in some cases the reward systems have been changed, especially when it comes to monetary incentives. Banks that previously had problems with short-term thinking has been positively affected by the changes, while banks that previously worked in accordance with the long-term thinking and low risk structure, have been affected to a lesser extent. One major conclusion is that the regulations are needed in order to handle risk management levels.
The perceptions of managers of Greek firms regarding the Costs and Benefits ensuing from the adoption of International Financial Reporting Standards in Greece
Vasilios-Christos Naoum,Nicos Sykianakis,Christos Tzovas
International Journal of Economic Sciences and Applied Research , 2011,
Abstract: The perceptions of managers of Greek firms regarding the Costs and Benefits ensuing from the adoption of International Financial Reporting Standards in GreeceAbstract: The study seeks to investigate the costs and benefits resulting from the application of IFRS in Greece. A questionnaire survey was conducted in order to identify the perceptions of the financial managers of Greek listed firms regarding the benefits and the costs associated with the transition to IFRS. In addition, it was asked to indicate whether the IFRS benefits are sufficient to cover the related costs. Four types of costs appear to be prevalent: personnel training costs, consultants' fees, preparation of two sets of accounts and costs to adjust existing information systems. The findings of the analysis of the responses suggest that, although the majority of respondents believe that the introduction of IFRS improved the quality of the financial statements published by Greek firms, they have serious concerns regarding the costs related to the introduction of IFRS.
Local banks and private equity: cultural and organizational challenges in light of the international financial crisis
Massimo Arnone,Alessandra Bechi
Business Systems Review , 2012, DOI: 0.7350/bsr.a11.2012
Abstract: This paper describes some of the changes that have been brought about in the Italian private equity market by the global financial crisis, by undertaking a contextual analysis of the characteristics of supply and demand in the private equity sector. On the demand side, we attempt to describe the major effects of the financial crisis in terms of the trends, size, and profitability of the companies investigated. On the supply side, we attempt to verify in the light of the global financial crisis whether the category of intermediary bank represented by local banks has changed its modus operandi in order to gain the characteristics of a diversified intermediary in the merchant banking business sector. We have here tried to trace the evolution of the role of the bank in dealing with private equity. In particular, we describe and empirically analyse the role of local banks in providing support for nationwide companies.
Impact of financial and economic crisis in sector commercial banks Sweden  [PDF]
Nanavov, Anton Semenovych
Socìal?no-ekonomì?nì Problemì ì Der?ava , 2012,
Abstract: This article reveals both main tendencies and problems that Swedish bankingsector currently witnesses and main triggers of transformations in banking business practice of thebiggest Swedish banks under the conditions of financial and economic turmoil. The main indicatorsof financial activity of the biggest Swedish banks as well as the degree of involvement of Swedishbanks in international interbank markets are analyzed. The article reveals the analysis of financialstability actions that were taken by the Central Bank of Sweden and the Debt Management Agencyin order to increase the regulative demands of the capital sufficiency and standards of interbanklending in the banking sector. The structure of assets of the Central Bank of Sweden is outlined andanalyzed and the role of central bodies of financial supervision in the maintaining of liquidity levelof banking sector is considered.
BEHAVIOR OF THE TEN LARGEST BRAZILIAN BANKS DURING THE SUBPRIME CRISIS: AN ANALYSIS BASED ON FINANCIAL INDICATORS  [cached]
Rodrigo de Souza Gon?alves,Adilson de Lima Tavares,Pedro Maia Ximenes,Rosane Maria Pio da Silva
Revista de Educa??o e Pesquisa em Contabilidade , 2012,
Abstract: The aim of this paper is to demonstrate the behavior of the ten largest Brazilian banks between June 2008 and September 2009, based on the analysis of financial indicators. Therefore, 16 three-monthly indices were calculated, extracted from financial statement information, which characterizes a documentary research. The indices were separated in five categories: liquidity, capital, profitability, income and market. The obtained results appointed that most financial institutions in the sample were able to manage their resources so as to gain conditions to maintain credit initially. Then, as from the first term of 2009, driven by public banks, they increased their credit operations. In addition, most banks revealed an anti-cyclical trend to encourage productive activities, preferably activities with higher liquidity levels, to the detriment of profitability, which reveals a more conservative attitude. Finally, it was verified that government initiatives, the Brazilian economic balance and the resources the banks offered helped to produce an environment to reactivate business activities during the most acute period of the subprime crisis.
A NONPARAMETRIC ANALYSIS OF INVESTMENT BANKS' EFFICIENCY IN THE CURRENT GLOBAL CRISIS
TEODORA CRISTINA BARBU,NICOLAE DARDAC,IUSTINA ALINA BOITAN
Challenges of the Knowledge Society , 2011,
Abstract: The purpose of this study is to assess to what extent the business model practiced by investment banks, before the beginning of the financial crisis, has influenced their performance indicators, and especially those who express shareholders' satisfaction. To this end, we have applied a nonparametric method, called Data Envelopment Analysis, which allows obtaining the efficiency scores for each financial institution considered. The sample included two pure investment banks, Lehman Brothers and Goldman Sachs, and seven international financial groups carrying out investment banking activities. The model tested assumed the maximization of selected output variables (ROE and the dividend distributed), by considering several input variables, meant to summarize the risk profile and costs arising from implementing a particular business model. The results obtained, in the form of high inefficiency scores, indicate that the business model of investment banks was not better performing than that applied by financial groups, because it failed to ensure a balance between ownership compensation and sustainable expansion of financial activity.
The Regulation Framework for the Banking Sector: The EMU, European Banks and Rating Agencies before and during the Recent Financial and Debt Crisis  [cached]
Eleftherios Thalassinos
EIRP Proceedings , 2012,
Abstract: A regulation framework for the banking sector should be characterised by transparency,responsibility and performance in several important areas. These areas are the global and Europeanframework for corporate financial reporting (CFR), risk management (RM), stockholder value creation(SVC), corporate governance (CG), corporate social responsibility (CSR) and sustainable development (SD).The regulation framework for the banking sector must also consider the fiscal and monetary environment inwhich a banking institution operates. The global rating system and the rating agencies will also have animportant impact on any regulation framework for the banking sector. These two factors play a key role whena financial, credit or debt crisis occurs. In this article, a holistic regulation framework for the banking sector ispresented. The article is based on European banks that are part of the European Monetary Union (EMU).Initially, it focuses on the timelines and review the integration of the European Monetary Union, relevantlegislation and information on member countries’ banking sectors. This information creates the frameworkfor the proposed model. The article considers all of the above factors in creating a holistic regulationframework for the banking sector to present in the context of the recent financial, credit and debt crises thathave taken place in the EMU.
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