The healthcare systems of the United States and United Kingdom are vastly different. The former relies primarily on private sector incentives and market forces to allocate medical care services, while the latter is a centrally planned system funded almost entirely by the public sector. Therefore, each nation represents divergent views on the relative efficacy of the market or government in achieving social objectives in the area of medical care policy. Since its inception in 1948, the National Health Services (...) of the United Kingdom has consistently emphasized equity in the allocation of medical services. It has done so by creating a system whereby services are universally free of charge at the point of entry. Conversely, the United States has relied upon the evolution of a perplexing array of public and private sector insurance schemes centered more around consumer choice than equity in allocation. (shrink)

Corrupt, unethical and imprudent practices in the global banking sector have been identified as among the causes of the Global Financial Crisis. In this paper I provide an analysis of institutional corruption that enables institutional corruption within the global banking sector to be viewed in relation to economic injustice, and demarcated from the unfortunate consequences of unavoidably risky market-based activity, poor judgment, ill-informed policy-making etc.; argue for an understanding of and response to institutional corruption in the (...) global banking sector that is holistic i.e., focuses on institutional purpose, industry structure and banking culture rather than simply structure or culture; and argue for an account of moral responsibility for corruption and economic injustice in the global banking sector, and for combating it, in terms of meta-collective responsibility, a specific notion of collective moral responsibility that does not allow individual human actors to evade responsibility. (shrink)

Since the 1970s, many Anglo-American studies have investigated the theme of corporate social responsibility (CSR) and its costs and benefits. Most studies have tried to test, largely in samples of multiple industries, the relationship between corporate social performance (CSP) and corporate financial performance (CFP). These analyses, however, have produced conflicting results and any attempt to give a generalized and coherent conclusion has proved inadequate. This article examines the ways CSP can be proxied and investigates the possible relationship between CSP (measured (...) by ethical rating) and CFP (measured by market and accounting ratios) in the banking sector using correlation methodology. It emerges that there is no statistically significant link between CSP and CFP. (shrink)

The aim of the study is to identify typical religiously-based regulatory practices in the banking sector of secular states. With this end in view, the intersection of religion and banking was qualitatively analysed, as well as confessional-based economies of Judaism, Christianity, and Islam were characterised. The results obtained provide evidence that religion exerts a notable influence on the social and economic life of the country. The Jewish banking system is based on the analogy of the Islamic (...) finance paradigm - it is built upon Sharia law but provides services for the population according to national jurisdiction of the state and the laws of the Torah. In the meantime, the regulation of basic banking practices in the Christian tradition is not religiously conditioned. The originality of this study is in the analytical tool designed to manage financial activities within the particular economic system while making allowances to the moral values of society. (shrink)

Source: Author: Uzoamaka S. Chigbu, Chijindu Promise Ubah, Ezeji E. Chigbu The level of bank development has a determinant effect on the growth potentials of a developing economy. In response, this study examined the impact of banking sector development on foreign investment inflows in the West African countries of Nigeria and Ghana. The study relied on secondary data for analysis and made use of multiple regression technique. However, to ensure the authenticity of our result, Augmented Dickey-Fuller unit root (...) test and Johansen Cointegration techniques were respectively employed to test for the presence unit root and long-run equilibrium relationship in the exogenous variables. Additionally, causal relationships were tested with Granger Causality. It was revealed that banking sector development has a significant influence on foreign investment inflows in the two West African countries. Specifically, domestic credit to private sector and bank deposit rate has significant influence on foreign investment inflows in both countries. Whereas domestic credit to private sector is directly related to the dependent variable in Ghana, it is related inversely in Nigeria. It was also discovered that bank lending rate is significantly and positively related to foreign investment in Ghana. Intermediation efficiency and profitability of banks should be improved by enhancing the capital structure and adopting the appropriate lending rate especially in Nigeria as measures to attract more inflows of foreign investment in both countries. ]]>. (shrink)

This paper examines the relationship between corporate social responsibility and financial performance for Islamic banks in the Gulf Cooperation Council region over the period 2000–2014 by generating CSR-related data through disclosure analysis of the annual reports of the sampled banks. The findings of this study indicate that there is a significant positive relationship between CSR disclosure and the financial performance of Islamic banks in the GCC countries. The results also show a positive relationship between CSR disclosure and the future financial (...) performance of GCC Islamic banks, potentially indicating that current CSR activities carried out by Islamic banks in the GCC could have a long-term impact on their financial performance. Furthermore, despite demonstrating a significant positive relationship between the composite measure of the CSR disclosure index and financial performance, the findings show no statistically significant relationship between the individual dimensions of the CSR disclosure index and the current financial performance measure except for ‘mission and vision’ and ‘products and services’. Similarly, the empirical results detect a positive significant association only between ‘mission and vision’ dimension and future financial performance of the examined banks. (shrink)

There is a distinct lack of research into the relationship between corporate governance and corporate social responsibility (CSR) in the banking sector. This paper fills the gap in the literature by examining the impact of corporate governance, with particular reference to the role of board of directors, on the quality of CSR disclosure in US listed banks’ annual reports after the US sub-prime mortgage crisis. Using a sample of large US commercial banks for the period 2009–2011 and controlling (...) for audit committee characteristics, board meeting frequency, and banks’ profitability, size and risk, we find evidence that board independence and board size, the two board characteristics usually associated with the protection of shareholder interests, are positively related to CSR disclosure. This indicates that, with regard to CSR disclosure, more independent boards of directors and larger boards are the internal corporate governance mechanisms which promote both shareholders’ and other stakeholders’ interests. Contrary to our expectations, CEO duality also impacts positively on CSR disclosure. From an agency-theoretical viewpoint, this suggests that powerful CEOs may promote transparency about banks’ CSR activities for their private benefits. While this could indicate that powerful CEOs are under particular pressure to appease stakeholders’ concerns that they might abuse their power by providing a high degree of CSR disclosure, it could also be a sign of managerial risk aversion or managers’ private reputational concerns. (shrink)

Public interest theory has argued that lack of trust in companies may reduce support for free markets. The literature did not address, however, the underlying causes of lack of trust and support of free markets in customer’s perceptions of virtuousness in economic actors. Combining public interest theory with virtue theory and stakeholder trust theory of organizations, we surmise that if customers perceive that employees of companies have insufficient due care for customers’ interests, the perceived trustworthiness of those companies will be (...) low. Customers will then be more inclined to support government regulation in that particular sector or industry. In this paper, we test the relevance of these relationships for the banking sector using a representative sample of 5844 respondents in the Netherlands. We find that if bankers are perceived as persistent in their due care for customers, this encourages a perception that banks are trustworthy, which in turn induces support for free markets in banking and reduces the call for government regulation. An important management implication of our research is that banks should foster due care by means of employee-virtue training programs to enhance trust, thus generating more support for free market operations in the banking sector. (shrink)

The study aims to measure the link between CSR and economic growth. This study investigates whether CSR expenses shown by the banks are contributing to the sustainability of an emerging economy like India. For this study, CSR spending of 21 commercial banks, on nine development areas of the Indian economy, the human development index of India, and its indicators along with the growth rate of GDP of India and state-wise GDP for the year 2014-2015 to 2017-2018 have been taken as (...) secondary data. The research techniques used are the case analysis method, correlation, and descriptive analysis. The study highlights that CSR activities are more of a myth and a far-reaching possibility in developing nations like India, where most institutions are engrossed in such activities to gain laurels and secure investors from the globe. (shrink)

This is an era of globalization, and to maximize the competitive advantage, the banking industry is acknowledging and recognizing Human Resource practices and contributing their best to employ the organizational resources in best productive manner so that they can excel and enjoy competitive edge. Number of factors are affecting on performance of the employee. This research paper is mainly intended to explore the influence of employee diversity on the performance of employee in Private Banking business of Pakistan. Specifically (...) in this paper, the performance of the employee in a banking sector has been predicted by the influence of employee diversity with respect to their education, age, gender, and ethnicity. The data was collected from 203 private banking representatives by a convenience sampling method. In order to identify the relationship, the data has been tested by SPSS Regression and correlation analysis methods. Research findings suggested that the organizations with specific reference to banking sector should plan, design and execute the policies,, practices and strategies that have a wide range canvas inclusive every individual employee and workforce diversities. (shrink)

Service-dominant logic established that for the success of service industries, it is vital to acknowledge the customer as an active agent in the commercial ecosystem. To carry it out, the consumer must participate in value creation. The resource integration theory exposes the importance of recognizing the customer as an agent capable of improving the company’s competitive advantage. It is only necessary for the participants to perceive benefits to make their resources available and integrate them into the co-creation process. This study (...) aims to find the key customer-based factors that influence the brand value co-creation process in the banking sector, analyzing the dynamics in different customers across national cultures and idiosyncrasies. In this paper, we analyze the potential heterogeneous idiosyncrasy of customers and how it leads to becoming more engaged in the co-creation process. Quantitative research was performed in five countries, obtaining a total of 2,029 valid questionnaires where latent profile analyses and ANOVAs were performed to identify and describe the latent profiles of consumer co-creators of brand value. Afterward, a PLS-SEM was performed to test the research model in each segment. The results show four different profiles of customer co-creators of brand value, from non-co-creators, skeptical and neutral, to customers committed to co-creating brand value with their banks. The results indicate that detractor customers lack the motivations and resources to carry out co-creation behaviors. On the other hand, creativity and connectedness were crucial for customers co-creators of value. To the authors’ understanding, no studies have used latent segmentation to find the profiles of customer co-creators of brand value. (shrink)

The study examines and theorizes the importance of strategic attribute constructs as applied to Pakistan’s banking sector by identifying their roles in enhancing organizational performance and the mediating effect of organizational commitment. The current study adopted quantitative research designs and methods to determine structural relationships between the proposed constructs. A total of 10 hypotheses were tested underpinned by the Resource-Based View of the Firm and Social Exchange theories. The strategic attributes studied were significantly and positively related to, and (...) enhance, organizational performance if the banks: focus on strategic positioning, fostering a strong organizational culture, strategize internal marketing practices, and boost organizational commitment. The findings supported the mediating role of organizational commitment between strategic attributes and organizational performance. This study contributes to existing literature and supports prior research while filling in gaps in the literature concerning developing countries. (shrink)

The pioneering work on environmental regulation in Sweden and that country's leading position in sustainability rankings has paradoxically passed almost unnoticed by academics. To this fact should be added, the scant attention given to the Nordic banking system. Becoming immersed into the realm of Swedish commercial banking ethics, we have focused on one of the top three commercial banks in the country, to map its corporate sustainability policies (CSP) and the compliance of the lending business process (LBP) to (...) these policies. A descriptive-explanatory research framework utilises a critical case with a phronetic design. Data collected through interviews was manipulated under the thematic analysis method. We found a unique understanding of act-utilitarianism, in which, policies and practices are set to prevent financial risks and environment rebounds, as they are symbiotic. This allowed us to enlarge the body of knowledge on Nordic banking's sustainable governance and design the green lending model (GLM). (shrink)

Banks are expected to play a key role in assisting the real economy with the green transition process. One of the tools used for this purpose is the issuance of green bonds. We analyze the characteristics of banks that issue green bonds to understand: (i) which banks are more likely to resort to these funding instruments, and (ii) if the issuance of green bonds leads to an improvement in a bank’s environmental footprint. We find that large banks and banks that (...) had already publicly expressed their support for a green transition are more likely to issue green bonds. Conditional on being a green bond issuer, smaller banks tend to resort to green bonds in a more persistent manner and for relatively larger amounts, while larger banks issue green bonds on a more occasional basis and for smaller amounts. This heterogeneity is also reflected in our findings that only banks that issue green bonds more intensively improve their emissions and reduce lending to polluting sectors, thus contributing to the decarbonization of the financial sector. (shrink)

Source: Author: Hamid Abrishami, Masoud Saboji Studying the function of banks is crucial because their vigorous role in the economy seems to be a subject of immense importance. In the present study, we analyze and study the role of whole banks, commercial banks and specialized banks between 2002 and 2012 in Isfahan, based on the growth of value added approach in the industrial sector. In order to investigate this matter, we have estimated three extinction panels for the whole (...) class='Hi'>banking system, specialized banks and commercial banks in Eviews 9. Based on the results it can be argued that in the panels of whole banks and specialized banks, payment facilities have a positive and meaningful impact on the growth of value added in all three sectors of the economy, but in the panel of commercial banks, only banking facilities on a 10 percent level have a positive and meaningful impact on the growth of value added in the industrial sector. As a result, we can conclude that specializing the bank's activities can have a positive effect on the growth of value added in various sectors of the economy. ]]>. (shrink)

This article investigates particular issues that remain unexplored or unsettled in the state-controlled banking services sector in Byzantium , comprising the guilds of dealers in bullion and the bankers . It establishes that money-changing remained the exclusive prerogative of the trapezitai and was safeguarded by guild regulations aiming to secure the soundness of the monetary system, while money-lending was governed by statute law and was carried on by trapezitai in competition with other guild members making loans as a (...) sideline activity and private money-lenders operating outside the guild system. The argyropratai dealt in precious metals and stones, undertook appraisals of valuables for a fee, and made, sold or repaired jewelry. The guilds' occupational exclusivity in money-changing and trading and precious metals did not establish a market monopoly, as the guild system did not aim to advance the members' economic interests, thwart intra-guild competition, or achieve equality of financial results for the membership. Neither the state nor the guilds set commissions on currency transactions, prices of precious metals, or fees for services, such determination being left to market forces. (shrink)

The World Bank is no stranger to criticism of its projects, especially in respect of its privatization and private sector development projects. Critics point to the environmental, social and cultural damage that certain projects have caused, which for some appears not just to be a product of the individual projects themselves, but symptomatic of a broader policy failure within the Bank to engage with the social consequences of its actions. In fact, and somewhat surprisingly, both the Bank's critics and (...) its defenders seldom employ human rights language in their reasoning and rhetoric, and where they do, it is only fleetingly and often lacking in any real substance. This is surprising because of so much of what the Bank does can be, and is, supportive of the objects of international human rights standards, especially in respect of economic, social and cultural rights. It is a central theme of this Discussion Paper that for the Bank to embrace this fact alone would be a very significant step towards it being better able not only to respond to its critics, but also, crucially, to deliver upon its own objectives as most recently expressed in the Millennium Development Goals. This Discussion Paper was commissioned by the World Bank. The brief was to provide an account of the major criticisms directed at the World Bank's private sector-oriented projects, and to determine what, if any, consequences for the protection of human rights are revealed by those criticisms. The approach adopted in this paper is first to identify key criticisms through empirical research and then to subject them to human rights analysis. This provides the basis for a clear account of the legal and programmatic implications for the Bank, today and in the future, of those human rights obligations and duties raised, directly or indirectly, by the critics of the Bank. (shrink)

India is the emerging country with the world’s greatest social banking program, so Indian banks are required to finance the weaker sectors of society that are excluded from the traditional financial system, while also providing mainstream banking services to non-priority sectors. For social banks to promote the ethical–social management of their dual mission and to be successful in today’s business environment, they must be as efficient as possible in both dimensions of their banking activity. Whereas the efficiency (...) of Indian banks in the financial dimension is well understood, to date there has been no research evaluating their double bottom-line of achieving social and financial goals. Our study applies an innovative Network Slack-Based DEA model to evaluate how efficient Indian public banks are when providing credit to priority and non-priority sectors. We also explore the main factors influencing bank efficiency. Results suggest that Indian public banks have performed relatively well in both activities, although social efficiency has been slightly greater than financial efficiency. Moreover, their commitment to priority sector lending has not come into conflict with the profit-seeking objectives of mainstream banking services. As regards determinants of social and financial efficiency, there are countervailing forces played by regional wealth, bank size, branch networks, and rural location. Our findings are therefore useful for stakeholders of Indian public banks as they indicate if these entities have adequately managed their double bottom-line, and hence if they are critical for poverty alleviation and development in India. (shrink)

This study aims to identify the necessary strategies for the development of a sustainable financial system. For this purpose, a novel approach could be provided for soft computing with Gaussian-based fuzzy DEMATEL approach to understand the significant levels and impact-relation degrees of these criteria. For robustness check, this evaluation has also been performed for triangular and trapezoidal fuzzy sets. There are many novelties of this study. Firstly, computer science has a significant role in the decision-making process. Another specificity is that (...) the use of Gaussian numbers with fuzzy numbers is a new area. In addition, interval type-2 fuzzy sets also provide a significant advantage in decision-making under uncertainty. The results demonstrate that the size of the alternative financing, investment in efficient projects, and effective advertisement/promotions are the most important items to affect the performance of alternative banking system of emerging economies. Hence, it is recommended that the new banking applications should be applied by the state or the state can provide some incentives for foreign banks to invest in emerging economies, such as tax reduction. Another important point is that the financial intermediations should generate a component financial analysis team to examine the financial reports of the companies in detail so that the financial credibility of these companies can be evaluated more effectively. (shrink)

There is a growing global interest in social responsibility and sustainability across all sectors. Other than economic performance, stakeholders are now also concerned about the social and environmental impacts of corporations. Additionally, stakeholders are obtaining a higher salience level and expect organisations to operate sustainably. The banking sector has not been an exception, as banks can have significant impact on their customers, employees, and society in various ways. Given the intertwined links of Islam and ethical principles, it is (...) expected that Islamic banks will show a high level of commitment towards social responsibility (SR) and ethical practices. The current study investigates this issue by examining the annual reports of three fully-fledged Islamic commercial banks in Indonesia over the period of 2007 to 2011. It was found that only two of the investigated banks had continuous improvement in their SR disclosure. Additionally, it was revealed that the highest disclosures have been for ‘corporate vision’ and ‘board of directors and top management’, while the lowest disclosures were evident for ‘environment’ and ‘product, services and fair dealing with supply chain’. (shrink)

This article examines the structural power of domestic finance in developing and emerging economies in the context of a shift toward increasingly activist financial development planning and financial sector reform. Focusing on efforts to create large, internationally competitive banks in Malaysia and Nigeria dating to the late 1990s and early 2000s, it highlights that banks have not played their envisaged role in financing structural transformation via industrial growth and economic development. Nonetheless, banks in DEEs have attained considerable structural power (...) over financial policy, supporting their ability to shape growth and investment strategies. Therefore, the article proposes a revised model of the structural power of finance, recognizing its contingent nature. States pursue various forms of financialization both as a substitute to, or in conjunction with, industrial policy. Financialized development strategies enhance the structural power of large banks in DEEs, notwithstanding their limited role in meeting the investment/development imperative. (shrink)

The article attempts to examine the impact of banks' specifics and board of directors' characteristics on directors' remuneration (REM) of 38 Indian listed banks from 2010 to 2019. The current study is based on secondary data that are extracted from the Prowess IQ database. Fixed effect model is used for analysing the data and generalised method of moment is applied for dealing with endogeneity problem. Finally, the sample is classified into three groups in order to check the robustness of the (...) results. Results revealed that return on assets, size, and market capitalisation positively and significantly impact directors' REM of Indian listed banks. While banks' age, capital adequacy, current ratio, and board of directors' composition have an insignificant impact on directors' REM of Indian listed banks. The findings of the study provide new evidence about the impact of banks' specifics and board of directors' characteristics on directors' REM in the Indian banking sector. The findings suggest that firms' specifics are significant determinants of directors' REM. (shrink)

The study investigates how board cultural diversity (BCD) affects bank stakeholder engagement through improved corporate social performance (CSP) and whether banks' corporate social responsibility (CSR) strategy mediates the relationship between BCD and banks' social performance. Adopting an international sample of 379 banks from 2010 to 2019, we found that BCD improves engagement in socially responsible issues in the banking sector. Moreover, we show a mediating role of strategic CSR on the relationship between BCD and banks' social performance. Hence, (...) we contribute to the research on the role of corporate governance mechanisms as drivers of CSR engagement. Furthermore, based on the mediation effect of strategic CSR, we advance the discussion on the link between BCD and banks' social performance. Our findings provide implications for banks and policy-makers, indicating the opportunity to promote cultural diversity, which supports socially responsible banking, while a CSR strategy positively impacts the stakeholder approach in the banking industry. (shrink)

This study aims to examine the main determinants of efficiency of both conventional and Islamic Saudi banks and then choose the best fit model among machine learning prediction models, Chi-squared automatic interaction detector, linear regression, and neural network ). The data were collected from the annual financial reports of Saudi banks from 2014 to 2018. The Saudi banking sector consists of 11 banks, 4 of which are Islamic. In this study, the major financial ratios are subgrouped into the (...) profitability ratios, managerial practices, asset and loans, capital adequacy ratios, and liquidity. First, regression analysis is implemented with efficiency ratio as a dependent variable and the proxies of banks’ profitability, liquidity, asset quality, management ratios, and capital adequacy ratios as independent variables. Next, the feature selection is applied for different prediction models. Subsequently, 4 prediction models were developed to choose the best fit. The performance metrics have also been evaluated. Regression results exhibit that the efficiency of both conventional and Islamic banks is highly affected by profitability, liquidity, and managerial practices. Finally, we choose the best prediction model with the highest R2 in the training and the testing phases with/out feature selection that is the CHAID model. The best predictors of cost efficiency for Saudi banks are the capital ratios, namely, CAR total and CAR tier 1. Findings are theoretically and practically important to academics, investors, and policymakers. Policymakers can benefit from the novelty of this study in building an early warning system using the CHAID model to predict different financial distress scenarios. (shrink)

ESG-transformation is taking place in all areas of the economy. Banks must become examples and guides in conducting business in an environmentally, socially and governance manner. The purpose of the study is to substantiate the need to determine the correct course and implement the principles of ESG-banking, including in the practice of risk management of commercial banks, taking into account the long-term consequences of today's actions for global economic and natural systems. Scientific novelty lies in the development of incentive (...) measures and support for ESG-banking, taking into account the analysis of world experience. As a result, the validity of the introduction of ESG-banking and ESG-risk management, their impact on increasing stability in the country's economic sector has been proved. The article identifies the limitations that are most relevant for the Russian market due to the novelty of the ESG-concept in the domestic banking sector. (shrink)

This study examines the impact of bank corporate governance reforms in the wake of the financial crisis. These reforms correspond to criticism of shareholder-focused agency-based corporate governance practices and a renewed focus on the stakeholder impact of corporate governance lapses in the financial sector. This study differs from previous studies of corporate governance in the financial sector in using performance indicators that proxy the interests of customers and the community. Drawing on data from 134 countries over an eight-year (...) period from 2004 to 2011, we find that the post-crisis corporate governance reforms in the banking sector appear to be effective in promoting greater bank attention to non-shareholder stakeholders’ interests. This study provides a means to conceptualize measures of bank performance from a stakeholder perspective in order to test emerging ideas about governance effectiveness in the financial sector. (shrink)

The paper aims at analyzing the production of creditworthiness within the context of commercial banking in international banks. Taking the interim financing in the Polish automobile sector as an example, the paper reconstructs the process between legal framing of the financial instrument, marketing, and risk management. Firstly, it shows that changes in the state vehicle registry function as a prerequisite upon which the bank uses the newly introduced vehicle registration document as a security. Secondly, it analyzes the change (...) of perspectives which takes place between the marketing of the product and the analysis of documents . Thirdly, it argues that creditworthiness cannot be deduced from the economic representation of the enterprise but is the very result of negotiations between the actors involved. (shrink)

How ethical have recent banking practices been? We answer this question via an economic analysis. We assess the two dominant practices of the modern banking system – fractional reserves and maturity transformation – by gauging the respective rights of the relevant parties. By distinguishing the legal and economic differences between deposit and loan contracts, we determine that the practice of maturity transformation (in its various guises) is not only ethical but also serves a positive social function. The foundation (...) of the modern banking system – the holding of fractional reserves against deposits – is, however, problematic from economic, legal and ethical perspectives. Starting from a microanalysis of money's function, a reassessment of the current laws concerning the practice is encouraged, with the aim not only to rectify economic irregularities but also to realign depositors' rights with the obligations of the banking sector. (shrink)

How ethical have recent banking practices been? We answer this question via an economic analysis. We assess the two dominant practices of the modern banking system – fractional reserves and maturity transformation – by gauging the respective rights of the relevant parties. By distinguishing the legal and economic differences between deposit and loan contracts, we determine that the practice of maturity transformation (in its various guises) is not only ethical but also serves a positive social function. The foundation (...) of the modern banking system – the holding of fractional reserves against deposits – is, however, problematic from economic, legal and ethical perspectives. Starting from a microanalysis of money's function, a reassessment of the current laws concerning the practice is encouraged, with the aim not only to rectify economic irregularities but also to realign depositors' rights with the obligations of the banking sector. (shrink)

Umbilical cord blood has become the focus of intense efforts to collect, screen and bank haematopoietic stem cells in hundreds of repositories around the world. UCB banking has developed through a broad spectrum of overlapping banking practices, sectors and institutional forms. Superficially at least, these sectors have been widely distinguished in bioethical and policy literature between notions of the ‘public’ and the ‘private’, the commons and the market respectively. Our purpose in this paper is to reflect more critically (...) on these distinctions and to articulate the complex practical and hybrid nature of cord blood as a ‘bio-object’ that straddles binary conceptions of the blood economies. The paper draws upon Roberto Esposito’s reflections on biopolitics and his attempt to transcend the dualistic polarisations of immunity and community, or the private and the public. We suggest that his thoughts on immunitary hospitality resonate with many of the actual features and realpolitik of a necessarily internationalised and globally distributed UCB ‘immunitary regime’. (shrink)

The new lesson for banking sector came on March 10th 2023, when the bank, which had $212bn of assets, failed with spectacular speed, making it the biggest lender to collapse since the global financial crisis of 2007–2009. By loading up on long-term bonds, Silicon Valley Bank (SVB) had taken an enormous unhedged bet on interest rates staying low. That bet went wrong, leaving the bank insolvent. The analysis of selected reports, data in conjunction with the analysis of financial (...) documents are to indicate the areas of threats related to the privileged treatment of government bonds in banks’ balance statements. As a result of the analysis, the negative consequences of the accumulation of government bonds in banks’ balance sheets and their preferential treatment as zero-riskand background of series of events unfavorable for the bank were indicated. The collapse has been presented as an example of a misguided strategy. The new reality teaches that safe securities, such as government bonds, can no longer be considered as safe. The result of the analysis is to show the possibility of the prediction of not enough liquid assets to satisfy deposit withdrawals and confluence of events caused higher risk. (shrink)

The current study proposes a novel conceptual model in which Islamic work ethics has a mediating role in the relationship between servant leadership and employees’ life satisfaction within Pakistan’s banking sector. The model draws on the theory of leader-member exchange. Data from a sample of 240 were evaluated using structural equation modeling using SmartPLS 3.2.7 software. The findings indicate that servant leadership significantly impacts employees’ life satisfaction. Furthermore, Islamic work ethics mediated this effect. This study introduces ground-breaking bank (...) inputs by creating a new integrated model based on LMX theory. While the impact of several dimensions of Islamic work ethics on employees’ life satisfaction has been widely investigated, the present study is the first to explore the roles of servant leadership and Islamic work ethics in leveraging bank employees’ life satisfaction. The results suggest that bank managers should enact servant leadership in their business and serve their employees ethically to improve their life satisfaction. Additionally, this study provides key theoretical contributions to the literature on Islamic banking. (shrink)

Our study considers the governance, ethics and operational challenges associated with the acquisition, manipulation and commodification of ‘big data’ in the financial services sector. To the best of our knowledge, there are no published studies describing empirical research undertaken within companies in this sector to understand how they are responding to such challenges: our field-based research is a significant initial contribution in this respect. We describe the results of a micro-ethnographic study undertaken in a small-to-medium-sized company developing disruptive, (...) technology-related platforms and services in the banking and retail sectors based on big data and associated analytics: these are used to derive commercially valuable insights from personal customer data in exchange for cash back and targeted rewards. The company was found to employ a multi-level innovation governance approach, underpinned by an ethical strategy based on a principle of mutual benefit. Opt-in and informed consent for using data for specific purposes was supported by principles of data minimisation and anonymisation, with unrestricted use of secondary, anonymised and aggregated data to develop insights. Governance, which included contextual data protection legislation, payment-card industry data usage standards and internal corporate controls, presented as bespoke organisational practices relating to data security and privacy. These in total set the governance and ethics frame for big data innovation at the company within which it has had to be both adaptive and responsive under conditions of normative and regulatory uncertainty. (shrink)

The social banking market constitutes a small but rapidly growing submarket of the global banking sector. Due to an explicit commitment to sustainability, social banking is a segment of banking services which is not exclusively focused on economic performance criteria, but pursues ecological and social goal dimensions on an equal footing. Information on the number and reachability of potential social banking customers is essential for social banks to further promote sustainable consumption in finance. In (...) scientific research, social banking is considered a relatively new field, still lacking empirical analyses regarding the market size and specific consumer behaviour. This study addresses the research gap by generating first insights into the German social banking market. Based on an online survey using an adaptive conjoint analysis, a large data set covering 3537 respondents was compiled. Sample 1 comprises 2896 respondents who are customers of three major social banks in Germany. Sample 2 covers the remaining 641 respondents who represent the German adult population and exclusively buy from conventional banks. Logistic regression modelling reveals that social banking customers differ significantly from their conventional counterparts regarding several socio-demographic, behavioural and psychographic factors. In comparison with conventional banking customers, social banking customers tend to be younger, higher educated and located in larger places of residence. Contrary to existing research on socially responsible investors, they are male to a higher proportion than female. Moreover, social banking customers demonstrate stronger sustainable buying patterns and weaker preferences for financial, but stronger preferences for social return than conventional banking customers. The results further indicate a considerable untapped growth potential for social banks by uncovering a market size ranging between 10 and 26% of the German adult population. Finally, suggestions for marketing strategies and future research are given. (shrink)

The gender-based wage gap in Swedish banks began to increase in 1983 after many years of decline. The growth in the gap between the wages of nonmanagerial women and men employees was particularly high. This article asks, How did this happen? Wage setting, part of the processes of control in capitalist economies, is accomplished through concrete practices under specific historical conditions. The author studied these practices and conditions to understand the increasing wage gap. Through interviews and examination of union and (...) management documents, the author constructs an account of a wage-setting process that, in spite of a strong union and centralized bargaining, allows management to make discretionary wage decisions that favor raises for men over raises for women. Since 1983, competition and deregulation in the banking sector as well as union strategies have created conditions in which an increasing proportion of annual wage increases have been distributed on a discretionary basis. This has led to an increase in the wage gap. The author concludes that policies to raise women's relative wages should pursue general, across-the-board bargaining rather than individualized wage setting. (shrink)

Digital business has marked an era of transformation, but also an unprecedented growth of cyber threats. While digital explosion witnessed by the banking sector since the COVID-19 pandemic has been significant, the level and frequency of cybercrimes have gone up as well. Cybercrime officials attribute it to remote working—people using home computers or laptops with vulnerable online security than office systems; malicious actors relentlessly developing their tactics to find new ways to break into enterprise networks and grasping defence (...) evasion; persons unemployed during the pandemic getting into hacking; cloud and data corruption; digital fatigue causing negligence; etc. This study adopts a case-based approach to explore the importance of business ethics, information sharing and transparency to build an information-driven society by scouting the case of Punjab and Maharashtra Co-operative (PMC) Bank, India. PMC defaulted on payments to its depositors and was placed under Reserve Bank of India’s directions due to financial irregularities and a massive fraud perpetrated by bank officials by orchestrating the bank’s IT systems. The crisis worsened when panic-stricken investors advanced their narrative through fake news peddled via social media channels, resulting in alarm that caused deaths of numerous depositors. It exposed several loopholes in information management in India’s deposit insurance system and steered the policy makers to restructure the same, thus driving the country consistent with its emerging market peers. The study further identifies best practices for aligning employees towards ethical behaviour in a virtual workplace and the pedagogical approaches for information management in the new normal. (shrink)

This paper offers novel insight into the Islamic banking business model by considering the effect of investments in human capital and corporate governance features on the market performance of Islamic banks. Based on a sample of 47 banks operating in different regions during the 2005–2010 period, and controlling for firm-specific characteristics, this paper finds investments in human capital to have a significant positive impact on the market value in the pre- and post-financial crisis period. Based on a market measure, (...) this paper finds board size and CEO power to have a significant positive impact, while the size of Shariah Supervisory Board has the opposite effect on market performance. The results further reveal that the Islamic banking sector is not a homogeneous group, with full-fledged Islamic banks having lax corporate governance mechanisms and large size, while their counterparts, Islamic Shariah-windows, having strong corporate governance mechanisms tend to invest more in human capital to yield positive market value. Overall, the analysis suggests that the financial crisis may have further spurred the impact of investments in human capital on the market performance. (shrink)

Abstract.In Canada, food assistance is provided through a widespread network of extra-governmental, community-based, charitable programs, popularly termed “food banks”. Most of the food they distribute has been donated by food producers, processors, and retailers or collected through appeals to the public. Some industry donations are of market quality, but many donations are “surplus” food that cannot be retailed. Drawing on insights from an ethnographic study of food bank work in southern Ontario, we examined how the structure and function of food (...) banks operate to facilitate the distribution of foods not marketed through the retail system. Our findings indicate that the handling of industry donations of unsaleable products is a labor-intensive activity, made possible by the surfeit of unpaid labor in food banks, the neediness of food bank clients, and clients’ lack of rights in this system. The marshalling of volunteer labor to serve a corporate need might be construed as a “win-win” situation because the work of salvaging edible foodstuffs from among industry “surplus” helps to “feed the hungry” while also diminishing the amount of refuse deposited in landfill sites, sparing corporations disposal costs and landfill tipping fees, and helping them forge an image of good corporate citizenship. However, the reliance of food banks on industry donations means that food assistance becomes defined as that which the corporate sector cannot retail. Moreover, the intertwining of food bank work with corporate needs may function to further entrench this ad hoc secondary food system and mitigate against initiatives to develop more effective responses to problems of hunger and food insecurity in our communities. (shrink)

Exposure of the banking system to the Global Financial Crisis attracted attention to the study of riskiness and spillover. This paper studies the pattern of systemic risk and size effect in the Indian banking sector. Based on market capitalization, three public sector banks and three from the private sector were taken. Data are taken from the year 2007 to 2020. The analysis is done through quantile- CoVaR and TENET measure. State variables like Indian market volatility (...) and global risk measures negatively influence the Indian banks’ returns. Liquidity risk is a crucial aspect of private banks. Public banks experience public confidence even in the distress period. Large banks like HDFC and SBI bank offer the highest degree of systemic risk contribution. The role of private banks in transmitting systemic risk has been intensifying since 2015. Small-sized banks like PNB and BOB have become significant receivers and transmitters of risk. (shrink)