New drivers of performance in a changing financial world:
This book presents a wide and accurate analysis of the new issues affecting the performance of financial markets and intermediaries in today's changing environment. It contains a detailed analytical assessment of financial products. It has an original structure for the topic and includes new re...
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Basingstoke [u.a.]
Palgrave Macmillan
2009
|
| Ausgabe: | 1. publ. |
| Schriftenreihe: | Palgrave Macmillan studies in banking and financial institutions
|
| Schlagworte: | |
| Online-Zugang: | Autorenbiografie Verlagsmeldung Inhaltsverzeichnis Inhaltsverzeichnis |
| Zusammenfassung: | This book presents a wide and accurate analysis of the new issues affecting the performance of financial markets and intermediaries in today's changing environment. It contains a detailed analytical assessment of financial products. It has an original structure for the topic and includes new research data. It offers empirical examination of some of the most important drivers of bank performance.In a financial revolution, new determinants of performance arise, and interest in the way performance is measured and communicated to stakeholders grows. This book presents a wide and accurate analysis of the impact that regulation, structural changes and new financial products have on the performance of markets and intermediaries. |
| Beschreibung: | Incl. bibliogr. references and index |
| Beschreibung: | XVI, 287 S. Ill., graph. Darst. |
| ISBN: | 9780230205024 023020502X |
Internformat
MARC
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| 245 | 1 | 0 | |a New drivers of performance in a changing financial world |c ed. by Alessandro Carretta ... |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a Basingstoke [u.a.] |b Palgrave Macmillan |c 2009 | |
| 300 | |a XVI, 287 S. |b Ill., graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
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| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a Palgrave Macmillan studies in banking and financial institutions | |
| 500 | |a Incl. bibliogr. references and index | ||
| 520 | |a This book presents a wide and accurate analysis of the new issues affecting the performance of financial markets and intermediaries in today's changing environment. It contains a detailed analytical assessment of financial products. It has an original structure for the topic and includes new research data. It offers empirical examination of some of the most important drivers of bank performance.In a financial revolution, new determinants of performance arise, and interest in the way performance is measured and communicated to stakeholders grows. This book presents a wide and accurate analysis of the impact that regulation, structural changes and new financial products have on the performance of markets and intermediaries. | ||
| 650 | 4 | |a Finance - European Union countries | |
| 650 | 4 | |a Financial markets | |
| 650 | 4 | |a Finance |z European Union countries | |
| 651 | 4 | |a Europäische Union. Mitgliedsstaaten | |
| 700 | 1 | |a Carretta, Alessandro |e Sonstige |0 (DE-588)170882594 |4 oth | |
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| 999 | |a oai:aleph.bib-bvb.de:BVB01-017058767 | ||
Datensatz im Suchindex
| _version_ | 1804138532950769664 |
|---|---|
| adam_text | Contents
List of Tables vii
List of Figures ix
Preface xi
Acknowledgements xiii
Notes on the Contributors xiv
Part I New Financial Products and Approaches: Focus
on Performance 1
1 European Exchanges, Investors Behaviour and Asset
Allocations Criteria: Country Approach vs Industry Approach 3
Alessandro Carretta and Gianni Nicolini
2 The Performance Evaluation of Hedge Funds: a Comparison
of Different Approaches 14
Alessandro Carretta and Gianluca Mattarocci
3 Real Estate Investments: the Case of the Italian Market 30
Claudio Porzio and Gabriele Sampagnaro
4 Real Estate Selection and the Portfolio Construction Model:
Data Analysis from the Italian Market 51
Claudio Giannotti and Gianluca Mattarocci
5 Funds of Funds Portfolio Composition and its Impact on
Performance: Evidence from the Italian Market 69
Alessandro Carretta and Gianluca Mattarocci
6 Market Characteristics and Chaos Dynamics in Stock
Markets: an International Comparison 89
Gianluca Mattarocci
Part II Determinants of Value Creation in Banking 107
7 The Profit Generation Process in Banking 109
Franco Fiordelisi
vi Contents
8 The Impact of Mergers and Acquisitions on
Shareholder Wealth in European Banking 131
Marcello Pallotta
9 Does Corporate Culture Affect Shareholder Value? Evidence
from European Banking 149
Alessandro Carretta, Vincenzo Farina, Franco Fiordelisi and
Paola Schwizer
Part III Regulation and Change in Banks and
Customers Behaviour 177
10 The Consumer s Financial Capability: a Regulatory
Perspective 179
Gianni Nicolini
11 Transparency Between Banks and Their Customers:
Information Needs and Public Intervention 199
Massimo Caratelli
12 Corporate Disclosure Determinants: A Cross-Country
Investigation 220
Vincenzo Farina
13 Single Euro Payment Area: Opportunities for
Consumers and Corporates 235
Lucia Leonelli
14 Coordination and Cooperation in Financial Regulation:
Do Regulators Comply with Banking Culture? 250
Alessandro Carretta, Vincenzo Farina and Paola Schwizer
Names Index 275
Subject Index 283
List of Tables
1.1 Concentration of the industrial sector indexes based on
the cluster analysis results, 1995-2006 10
2.1 Top data vendors for hedge funds on the basis of funds
coverage 21
2.2 RAP measures as instruments to forecast hedge funds
performance 22
2.3 RAP analysis in bull and bear market 24
2.4 Percentage of upgrade/downgrades in the subgroups
using different RAP classifications 25
3.1 Distributional characteristic of Italian asset classes
returns (monthly, 1997-2004) 33
3.2 Correlations among asset classes 36
4.1 Expected cash flows associated with a property
investment 52
4.2 Aspects considered to assign risk classes to the various
estate units 58
4.3 Efficient frontier and leverage 62
4.4 Cluster analysis and comparison of qualitative
diversification 63
5.1 Performance of Funds of Funds 75
5.2 Performance of Funds of Funds and incentive fees 76
5.3 RAP for Funds of Funds classified on the basis of fees and
portfolio composition 77
5.4 RAP for Funds of Funds classified on the basis of
geographical and sectoral concentration 78
5.5 RAP for Funds of Funds on the basis of linkage and
concentration 81
5.6 RAP for Funds of Funds on the basis of the portfolio s
composition criterion 82
5.7 Performance persistence for different types of FoFs 83
6.1 BDS statistics for each country 100
6.2 Hurst index and scrambled hurst 101
7.1 Number of banks in samples used for estimating
shareholder value drivers in European banking 114
7.2 Descriptive statistics of variables used to analyse the
sample of European listed and non-listed banks
over the period 1999-2002 115
vii
viii List of Tables
7.3 The multiple-variable relationship between profits and
its determinants in European banking 117
7.4 The multiple-variable relationship between shareholder
value and its determinants in European banking 118
7.5 The multiple-variable relationship between profits and
its determinants in domestic European banking industries 120
7.6 The multiple-variable relationship between shareholder
value and its determinants in domestic European
banking industries 122
8.1 M A operations in Europe between 1999 and 2004 134
8.2 SCAR target Firm 144
8.3 SCAR Bidder Firm 145
8.4 SCAR combined effect 145
9.1 Sample descriptive statistics (102 European commercial
banks between 2001 and 2003) 165
9.2 The relationship between profits and corporate culture
for European banks, respectively 166
9.3 The relationship between shareholder value creation and
corporate culture for European banks, respectively 167
11.1 General needs and financial requirements based on
Maslow s hierarchy of needs 201
12.1 Relation among variables as identified by Gray and
Hofstede 226
12.2 Relations identified by the various studies 227
12.3 Results of the cluster analysis 231
12.4 Results of the regression analysis 231
12.5 Synthesis of the model 231
12.6 ANOVA 232
14.1 Key concepts for the culture of both intermediaries and
supervisory bodies 263
14.2 The main categories for measuring cultural orientations 264
14.3 Final results on disclosure, customer, innovation,
change, risk measured on banks, on Basel II and
on the Bank of Italy 267
List of Figures
2.1 Sample description 21
2.2 Hedge fund market performance in the evaluation period 23
3.1 Monthly returns of asset classes, 1997-2004 34
3.2 Autocorrelation of monthly returns 35
3.3 The inclusion of an asset class not correlated: the sling
effect and the raising effect 37
3.4 Efficient frontiers with and without real estate 39
3.5 Portfolio allocation of the efficient frontier without
real estate 40
3.6 Portfolio allocation of the efficient frontier with real
estate (SI general) 40
3.7 Portfolio allocation of the efficient frontier with real estate
(SI general index, returns desmoothed) 41
3.8 Efficient frontier with and without real estate (SI not
residential) 42
3.9 Portfolio allocation of the efficient frontier with real estate
(SI not residential index, smoothed returns) 43
3.10 Portfolio allocation of the efficient frontier with real estate
(SI not residential index, smoothed returns) 43
3.11 Efficient frontier with and without real estate (SI not
residential index) in case of implementation of Bayes
Stein approach 45
3.12 Portfolio allocation of the frontier with and without real
estate (SI not residential index) - Bayes Stein approach 46
3.13 Efficient frontier constrained 46
3.14 Allocation constrained 47
4.1 Geographical and sectoral estate distribution according to
main use and number of tenants 56
4.2 Efficient frontier and tenant risk 59
4.3 Efficient frontier and exogenous risk 60
4.4 Efficient frontier and endogenous risk 61
4.5 Relation of borrowing ratio and efficiency of real estate
segmentation criteria 64
5.1 Funds of Funds investment companies in the Italian
market 74
5.2 Funds of Funds portfolio concentration 79
x List of Figures
5.3 Funds of Funds portfolio percentage invested in
related funds 80
5.4 Funds of Funds diversification strategies 80
6.1 The sample 96
6.2 Main characteristics of the markets being considered 97
6.3 Market characteristics and degree of chaotic dynamics 102
6.4 Duration of cycles (number of days) 102
8.1 Merger and Acquisitions between European banks between
1985 and 2005 132
8.2 Estimation period and event window 136
9.1 The four phases of our text-analysis method 158
9.2 Economic Value Added (EVA) for European commercial
banks: our calculation procedure 163
11.1 The search for and processing of information: benefits,
costs and motivation 208
11.2 Motivation to search for and process information when
taking out a mortgage 210
11.3 Motivation to search for and process information when
respect to consumer credit 214
14.1 Semantic orientation gap: Italian banks - Bank of Italy 268
14.2 Semantic orientation gap: Italian banks - Basel Committee 269
14.3 Cognitive orientation 269
14.4 Disciplinary orientation 270
14.5 Power orientation 270
|
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| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
| format | Book |
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| geographic | Europäische Union. Mitgliedsstaaten |
| geographic_facet | Europäische Union. Mitgliedsstaaten |
| id | DE-604.BV035253148 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T21:29:42Z |
| institution | BVB |
| isbn | 9780230205024 023020502X |
| language | English |
| lccn | 2008016144 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-017058767 |
| oclc_num | 475242006 |
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| owner_facet | DE-12 DE-521 |
| physical | XVI, 287 S. Ill., graph. Darst. |
| publishDate | 2009 |
| publishDateSearch | 2009 |
| publishDateSort | 2009 |
| publisher | Palgrave Macmillan |
| record_format | marc |
| series2 | Palgrave Macmillan studies in banking and financial institutions |
| spelling | New drivers of performance in a changing financial world ed. by Alessandro Carretta ... 1. publ. Basingstoke [u.a.] Palgrave Macmillan 2009 XVI, 287 S. Ill., graph. Darst. txt rdacontent n rdamedia nc rdacarrier Palgrave Macmillan studies in banking and financial institutions Incl. bibliogr. references and index This book presents a wide and accurate analysis of the new issues affecting the performance of financial markets and intermediaries in today's changing environment. It contains a detailed analytical assessment of financial products. It has an original structure for the topic and includes new research data. It offers empirical examination of some of the most important drivers of bank performance.In a financial revolution, new determinants of performance arise, and interest in the way performance is measured and communicated to stakeholders grows. This book presents a wide and accurate analysis of the impact that regulation, structural changes and new financial products have on the performance of markets and intermediaries. Finance - European Union countries Financial markets Finance European Union countries Europäische Union. Mitgliedsstaaten Carretta, Alessandro Sonstige (DE-588)170882594 oth http://www.loc.gov/catdir/enhancements/fy0829/2008016144-b.html Autorenbiografie http://www.loc.gov/catdir/enhancements/fy0829/2008016144-d.html Verlagsmeldung http://www.loc.gov/catdir/enhancements/fy0829/2008016144-t.html Inhaltsverzeichnis HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017058767&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | New drivers of performance in a changing financial world Finance - European Union countries Financial markets Finance European Union countries |
| title | New drivers of performance in a changing financial world |
| title_auth | New drivers of performance in a changing financial world |
| title_exact_search | New drivers of performance in a changing financial world |
| title_full | New drivers of performance in a changing financial world ed. by Alessandro Carretta ... |
| title_fullStr | New drivers of performance in a changing financial world ed. by Alessandro Carretta ... |
| title_full_unstemmed | New drivers of performance in a changing financial world ed. by Alessandro Carretta ... |
| title_short | New drivers of performance in a changing financial world |
| title_sort | new drivers of performance in a changing financial world |
| topic | Finance - European Union countries Financial markets Finance European Union countries |
| topic_facet | Finance - European Union countries Financial markets Finance European Union countries Europäische Union. Mitgliedsstaaten |
| url | http://www.loc.gov/catdir/enhancements/fy0829/2008016144-b.html http://www.loc.gov/catdir/enhancements/fy0829/2008016144-d.html http://www.loc.gov/catdir/enhancements/fy0829/2008016144-t.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017058767&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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