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Topic Review
Sustainability Performance & Sustainable Banking
In the light of Agenda 2030 awareness of sustainability is steadily growing all over the world. Devastating phenomena like pandemics (Sustainable Development Goal 3 (SDGs—Agenda 2030)), poverty (Sustainable Development Goal 1 (SDGs—Agenda 2030)) as well as climate change (Sustainable Development Goal 13 (SDGs—Agenda 2030)) threaten humanity, calling for more sustainable solutions. Although economic growth (Sustainable Development Goal 8 (SDGs—Agenda 2030)) is one of the principal goals for a sustainable future, little research has been devoted to the interface of corporate social responsibility (CSR) and sustainability and their contribution to the financial sector, in view of sustainable banking. Even fewer are the studies concerning sustainable banking in Greece. This paper attempts a comparative overview of sustainability integration into businesses, focusing on the banking industry. The current theoretical analysis initially provides an extended review of the CSR and sustainability concepts, which is followed by a comprehensive analysis of non-financial disclosures (NFDs) and their business value, providing some evidence from Greece. 
  • 2.9K
  • 15 Jun 2021
Topic Review
Blockchain Technology and Tokenization
Blockchain is an open-source technology that excludes the traditional third parties by relying on collective verification, thus offering a great alternative in terms of costs, traceability, security, and speed. When two financial entities such as banks receive a request to transfer money from one account to another, they have to update the balances of their respective customers. This costly and time-consuming coordination and synchronization exercise can be simplified on a blockchain by using a single ledger of transactions reflecting a single version of records instead of two different databases. Blockchain technology offers a myriad of value through a frictionless process of immutable and transparent records and through converting assets into digital tokens (i.e., tokenization) with smart contracts. 
  • 1.8K
  • 01 Jun 2021
Topic Review
DEA Banking Efficiency: Macroprudential Context
China is a bank-dominated country; therefore, the sustainability of the Chinese banking industry is important for economic development. In this paper, data envelopment analysis (DEA) was combined with the Malmquist index, and we statically and dynamically analyzed the efficiency of listed banks during the period 2012–2017. The results showed that 12 of the 17 banks improved their technical efficiency. The technical efficiency of three banks remained the same, whilst that of two banks had dropped slightly by less than 1.0%. The Chinese government has learned from the lessons of past financial crises to find a way to forestall financial crisis, and implemented macroprudential policy, therefore the banking industry has actively served the real economy and promoted economic development while paying attention to the prevention of financial risks. According to the report of The Banker in 2018, for the first time, the four biggest banks in China topped the list of the Top 1000 World Banks. The research showed that, the Chinese government applied macroprudential framework in the banking supervision, and the listed banks effectively resisted financial risks and realized steady growth. We believe that the macroprudential framework plays a positive role in the economic development and financial stability in China.
  • 1.5K
  • 07 Mar 2021
Topic Review
Idiosyncratic Viral Losses
The viral spread of operational losses through global markets by interconnected multinational banks can be compared to viruses spread through interconnected countries and the significant losses incurred; this can be referred to as idiosyncratic viral loss theory. This idiosyncratic viral loss theory discusses systemic operational losses that are evident in human error, fraud, and legal expenses that are aligned to systemic operational risk. The occurrences of significant losses that are idiosyncratic in nature and that are linked to failed internal processes, people, systems, and external events. This study employs the Compliance and Ethics Group’s (OCEG’s) standard that integrates governance, risk management, internal control, assurance, and compliance (GRC capability model) into one functional goal to improve quality and principled performance through measurable tools that may enhance effectiveness and efficiency practices. Four important considerations were identified that could bolster effective risk management practices: (a) a comprehensive enterprise-wide risk; (b) controlling fraud; (c) going beyond the minimum risk assessment requirements set forth by the banking regulators; (d) independent risk identification and management. These considerations towards effective risk management practices may help reduce systemic operational losses viral spread in banks. 
  • 647
  • 24 Feb 2021
Topic Review
New role for insurers
The recent pandemic and the recommendations of the WHO regarding the systematic nature that will characterize the spread of the future pandemic in the world require a deep rethinking of economic-social logics. ESG (Environmental Social Governance) strategies will play a key role in all sectors to ensure sustainable development together with the reduction of social inequalities. In this context, the insurance sector cannot fail to be a proactive and resilient player.
  • 900
  • 07 Dec 2020
Topic Review
Conditional Value at Risk
The core model in this paper, “CoVaR”, is an abbreviation for “Conditional Value at Risk”, which has been increasingly applied in the field of systemic risk and can be used for analyzing the systemic risk in different perspectives.
  • 1.2K
  • 29 Oct 2020
Topic Review
Crowdfunding
Crowdfunding is the practice of funding a newly created firm or project by raising funds from a large number of people. It is usually performed online. In 2009 the volume of funds raised using crowdfunding was negligeably small. Crowdfunding raised $34.4 billion in 2015. Some analysts predict that crowdfunding market size will grow at an annual rate of 27.8% and will surpass venture capital investments in the near future (Miglo and Miglo, 2019).
  • 1.2K
  • 29 Oct 2020
Topic Review
Financial Derivatives
This book, Financial Derivatives, a blessing or a curse? (DerivaQuote, 2006), introduces financial derivatives, their uses and the debates surrounding their use. It looks at whether one should fear them or embrace them by digging into literature, theory and case studies.  The world seems to be divided into two camps: those who embrace financial derivatives as the ‘Holy Grail’ of the new investment area, and those who denigrate derivatives as the financial Antichrist (Edington, 1994). As the quote above suggests, there are many conflicting views and opinions on derivatives and their use. Derivatives are seen either as useful instruments or as a complete waste of time and money. Experience has indicated that derivative products have transformed the way firms view financial risk and mitigate it. It is no longer relatively simple, and risks are changing continuously with innovation. Risks are no longer nationwide but global and the internet and other fast communication channels have further complicated the issue. In the article, ‘Are Derivatives Financial "Weapons of Mass Destruction"?’ Simon (2008) explains that although derivative instruments have been used to hedge risks that were previously left open, there are still those who are sceptical about using these instruments. As the Group of Thirty (G30) (1993) note, users from “both inside and outside of the financial industry, remain uncomfortable with derivatives activity.” Moreover, the latest survey by the Bank for International Settlements (2009) suggests that there is widespread employment of derivatives with adequate risk management systems. Nevertheless, not all firms are immune to derivatives misuse. This book uses literature and case studies to determine whether it is misuse of this financial instrument, and not the derivatives instrument itself, that causes firm failure and large losses. These case studies help to pinpoint the root causes of these incidents.
  • 1.2K
  • 28 Oct 2020
Topic Review
Climate-Related Prudential Risks
Climate change creates financial risks to the safety and soundness of banks, insurers and the wider financial system, posing a significant threat to the stability of the financial system. Climate-related financial and sustainability risks are already starting to crystallise and have the potential to increase substantially in the future. For instance, physical risks that arise from increasing the severity and frequency of climate and weather-related events may lead to a reduction in asset values, a fall in profitability and an increase in the cost of settling underwriting losses for insurers. On the other hand, adjustment towards a carbon-neutral economy may prompt a reassessment of asset values, a fluctuation in energy prices, and a deterioration of the creditworthiness of borrowers, potentially leading to credit losses. While there is a pressing need for central banks, regulators and financial institutions to accelerate their capacity to assess and manage such financial risks that may result from climate change, academic research will be a key impetus to drive and support the ongoing efforts of the financial sector and the regulatory bodies in building capacity to address these risks. 
  • 1.0K
  • 15 Jul 2020
Topic Review
Vectoring & Fractalisation Of Fiscal Stress
Never before like pan global contagion pandemic COVID-19 has intensely up-regulated stress on the indo money-market domains.  Authors try to see the light at end of tunnel. Consider direct finance to consumers as the anti-dote; termed as fractalisation; vectoring; and granulation of stress. Heritage structure as cue and parable. Identify the internal causes of an obstinate stress causers and Ayurvedic sector as the green field opportunity.  
  • 805
  • 14 Jul 2020
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