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Article
Publication date: 4 May 2012

Maria J. Nieto and Gillian G. Garcia

The purpose of this paper is to analyze the rationale for Bank Recovery and Resolution Funds (BRRFs) in the context of the present European Union's (EU) decentralized safety net.

589

Abstract

Purpose

The purpose of this paper is to analyze the rationale for Bank Recovery and Resolution Funds (BRRFs) in the context of the present European Union's (EU) decentralized safety net.

Design/methodology/approach

The paper makes some reflections on the governance aspects of BRRFs that would require minimum harmonization in the EU, emphasizing that BRRFs are only one institutional component of financial institutions' effective and credible resolution regime. This paper focuses on depository institutions, but the rationale of BRRFs could be extended to other credit institutions.

Findings

BRRFs contribute to shifting the government's trade‐off between bailing out and restructuring in favour of restructuring, to the extent that there is also an effective bank resolution legal framework. In turn, banks' contributions to BRRFs aim at discouraging their excess systemic risk creation, particularly through financial system leverage.

Originality/value

The paper provides input in the current regulatory debate to develop new measures for the reform of the regulatory framework of financial services in the EU.

Details

Journal of Financial Regulation and Compliance, vol. 20 no. 2
Type: Research Article
ISSN: 1358-1988

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Article
Publication date: 1 April 1997

Claire Louise Stone and J. Maria Banks

Discusses the degree to which customer‐ and employee‐based measures of performance are used within The Times top 500 companies, as revealed by a postal survey carried out in 1995…

1059

Abstract

Discusses the degree to which customer‐ and employee‐based measures of performance are used within The Times top 500 companies, as revealed by a postal survey carried out in 1995 and from initial findings from six in‐depth case studies. The inquiry was initiated as a result of the continuing wave of changes resulting from the performance measurement revolution and ongoing developments in the field of total quality management. Investigates the generation and use of the measures and assesses the commonality between management theory and reported practice. Concludes that, although best practice (in academic terms) is apparent in some companies, the use of these measures in the determination of business strategy has not yet become standard practice.

Details

The TQM Magazine, vol. 9 no. 2
Type: Research Article
ISSN: 0954-478X

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Article
Publication date: 3 September 2018

Mihir Patel and Darshak Arunbhai Desai

The purpose of this paper is to capture the status of implementation of Six Sigma in various manufacturing industries and also examine the success of the Six Sigma by using…

2377

Abstract

Purpose

The purpose of this paper is to capture the status of implementation of Six Sigma in various manufacturing industries and also examine the success of the Six Sigma by using different performance indicators.

Design/methodology/approach

The methodology of critical review involves the selection and classification of 112 research articles on the implementation of Six Sigma in different manufacturing industries. The selected articles are categorized by the following: articles distribution based on the year of publication, publication database, various journals, contribution of authors, continent, scale of industry, implemented approaches, focused industry, tools and techniques used in phases of Six Sigma methodology, and performance indicators used in Six Sigma implementation. Then after, future scopes of research opportunities are derived based on significant findings.

Findings

The literature revealed that: Very few work was undertaken on the implementation of Six Sigma in various manufacturing industries like ceramic, paper, gems and jewelry, cement, furniture, stone, fertilizer, forging, paper and surface treatment industries. Most of the researchers have considered very few performance indicators to identify the improvement after Six Sigma implementation. But, there is no clue regarding overall improvement in different perspectives after the implementation of Six Sigma. The financial indicators, personnel indicators, process indicators and customer indicators are useful to measure the overall improvement after the implementation of Six Sigma in the manufacturing sector.

Research limitations/implications

The study was carried out on the implementation of Six Sigma methodology in various manufacturing industries, and various performance indicators were identified while implementing the Six Sigma methodology. Case studies pertaining to service industries were not covered here.

Originality/value

Very little research has been carried out to measure the overall success of implementing Six Sigma methodology in manufacturing industries. This paper will provide value to students, researchers and practitioners of Six Sigma by providing insight into the implementation of Six Sigma in manufacturing industries.

Details

International Journal of Quality & Reliability Management, vol. 35 no. 8
Type: Research Article
ISSN: 0265-671X

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Article
Publication date: 6 August 2018

Zois Sompolos and Maria Mavri

The purpose of this paper is to examine the efficiency of the four largest Greek banking organizations for the period 2004–2014, including both a period of strong economic growth…

506

Abstract

Purpose

The purpose of this paper is to examine the efficiency of the four largest Greek banking organizations for the period 2004–2014, including both a period of strong economic growth and a period of economic crisis and recession, which is still plaguing the Greek economy and more specifically the Greek banking sector.

Design/methodology/approach

The study incorporates the application of financial ratio analysis and the data envelopment analysis (DEA) in order to calculate the technical efficiency of Greek financial institutions. More specifically, a two-stage output-oriented DEA model is developed in order to estimate the global efficiency of banks. The banking function is considered as consisting of two stages in series, a service/operational efficiency and a profitability efficiency. In both output-oriented models, methods of constant returns to scale and variable returns to scale were applied.

Findings

The results show that in terms of operational efficiency, banks started from a low rate of return in 2004, which improved until 2008, which marked the peak of operational efficiency. By 2010, the operating efficiency varied with downward trend until 2012–2013. In terms of profitability efficiency, the image is clearer, since the impact the financial crisis had on bank’s profit efficiency led, by 2012, to a plunge in the average efficiency by 30–40 percent.

Originality/value

A multi-stage DEA process, input oriented, was used in order to estimate changes in the performance and efficiency of banking system. The period 2004–2014 has not been examined until recently and all previous studies used the output-oriented DEA model.

Details

Benchmarking: An International Journal, vol. 25 no. 6
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 17 April 2019

Jonas da Silva Oliveira, Graça Maria do Carmo Azevedo and Maria José Pires Carvalho Silva

This study aims to explore the firm’s and country-level institutional forces that determine banks’ CSR reporting diversity, during the recent global financial crisis.

859

Abstract

Purpose

This study aims to explore the firm’s and country-level institutional forces that determine banks’ CSR reporting diversity, during the recent global financial crisis.

Design/methodology/approach

Specifically, this study assesses whether economic and institutional conditions explain CSR disclosure strategies used by 30 listed and unlisted banks from six countries in the context of the recent 2007/2008 global financial crisis. The annual reports and social responsibility reports of the largest banks in Canada, the UK, France, Italy, Spain and Portugal were content analyzed.

Findings

The findings suggest that economic factors do not influence CSR disclosure. Institutional factors associated with the legal environment, industry self-regulation and the organization’s commitments in maintaining a dialogue with relevant stakeholders are crucial elements in explaining CSR reporting. Consistent with the Dillard et al.’s (2004) model, CSR disclosure by banks not only stems from institutional legitimacy processes, but also from strategic ones.

Practical implications

The findings highlight the importance of CSR regulation to properly monitor manager’s’ opportunistic use of CSR information and regulate the assurance activities (regarding standards, their profession or even the scope of assurance) to guarantee the proper credibility reliability of CSR information.

Originality/value

The study makes two major contributions. First, it extends and modifies the model used by Chih et al. (2010). Second, drawn on the new institutional sociology, this study develops a theoretical framework that combines the multilevel model of the dynamic process of institutionalization, transposition and deinstitutionalization of organizational practices developed by Dillard et al. (2004) with Campbell’s (2007) theoretical framework of socially responsible behavior. This theoretical framework incorporates a more inclusive social context, aligned with a more comprehensive sociology-based institutional theory (Dillard et al., 2004; Campbell, 2007), which has never been used in the CSR reporting literature hitherto.

Details

Meditari Accountancy Research, vol. 27 no. 2
Type: Research Article
ISSN: 2049-372X

Keywords

Available. Open Access. Open Access
Article
Publication date: 10 February 2022

Graça Azevedo, Jonas Oliveira, Luiza Sousa and Maria Fátima Ribeiro Borges

The purpose of this paper to analyze the risk reporting practices and its determinants of commercial banks during the period of the adoption of the Basel II Accord in Portugal.

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Abstract

Purpose

The purpose of this paper to analyze the risk reporting practices and its determinants of commercial banks during the period of the adoption of the Basel II Accord in Portugal.

Design/methodology/approach

The paper conducts a content analysis of the risk and risk management sections included in the management reports and the notes of the annual reports of Portuguese commercial banks, for the years 2007, 2010 and 2013.

Findings

Findings show that theoretical frameworks underpinned in agency and legitimacy theories continue to provide valid explanations for risk reporting by Portuguese banks. More specifically, findings indicate that agency costs, public visibility and reputation are crucial drivers of risk reporting. Findings also indicate that younger banks with lower risk management skills use risk reporting either as an informational process or as a channel to manage organizational legitimacy.

Research limitations/implications

The content analysis does not allow readily for in-depth qualitative inquiry. The coding instrument is subject to coder bias. Information about risk can be provided in sources other than annual reports. Additionally, not all banks disclose information on corporate governance-related variables that could also influence risk reporting.

Originality/value

The current research setting has never been studied hitherto. In this sense, this study seems to be of great relevance given the scarcity of literature on the subject in Portugal.

Details

Asian Review of Accounting, vol. 30 no. 2
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 19 June 2018

Thomas Gehrig and Maria Chiara Iannino

This paper aims to analyze systemic risk in and the effect of capital regulation on the European insurance sector. In particular, the evolution of an exposure measure (SRISK) and…

662

Abstract

Purpose

This paper aims to analyze systemic risk in and the effect of capital regulation on the European insurance sector. In particular, the evolution of an exposure measure (SRISK) and a contribution measure (Delta CoVaR) are analyzed from 1985 to 2016.

Design/methodology/approach

With the help of multivariate regressions, the main drivers of systemic risk are identified.

Findings

The paper finds an increasing degree of interconnectedness between banks and insurance that correlates with systemic risk exposure. Interconnectedness peaks during periods of crisis but has a long-term influence also during normal times. Moreover, the paper finds that the insurance sector was greatly affected by spillovers from the process of capital regulation in banking. While European insurance companies initially at the start of the Basel process of capital regulation were well capitalized according to the SRISK measure, they started to become capital deficient after the implementation of the model-based approach in banking with increasing speed thereafter.

Practical implications

These findings are highly relevant for the ongoing global process of capital regulation in the insurance sector and potential reforms of Solvency II. Systemic risk is a leading threat to the stability of the global financial system and keeping it under control is a main challenge for policymakers and supervisors.

Originality/value

This paper provides novel tools for supervisors to monitor risk exposures in the insurance sector while taking into account systemic feedback from the financial system and the banking sector in particular. These tools also allow an evidence-based policy evaluation of regulatory measures such as Solvency II.

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Article
Publication date: 23 August 2013

Maria Mavri

In the situation of financial crisis, the performance of banking and financial institutions is considered to be important for a country's economy. The purpose of this paper is to…

1054

Abstract

Purpose

In the situation of financial crisis, the performance of banking and financial institutions is considered to be important for a country's economy. The purpose of this paper is to develop an index, called the “Bank Ranking Index” (BRI), which classifies banks in a descending order.

Design/methodology/approach

This study proposes the BRI, which is based on a set of quantitative indicators representing, the financial market, the bank's financial identity and its infrastructure and classifies banks in a descending order. Cluster analysis is also used in order to compare the results of the above classification.

Findings

The index is implied in a representative sample of 16 Greek banks. The results indicate that through the proposed approach the banks can improve their efficiency and their overall performance in order to satisfy customers' needs in a more efficient way.

Practical implications

The paper seeks the proposed index as a benchmarking tool, which could be valuable to the bank's management team in order to plan and configure its strategy of development.

Originality/value

Based on banks' characteristics and on financial data the paper introduce a simple index, the BRI, based on which the paper assess the performance of a bank institution.

Details

Benchmarking: An International Journal, vol. 20 no. 5
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 10 July 2017

Maria do Rosário Meireles Ferreira Cabrita, Maria de Lurdes Ribeiro da Silva, Ana Maria Gomes Rodrigues and María del Pilar Muñoz Dueñas

The purpose of this paper is to investigate the level of intellectual capital (IC) awareness among Portuguese bank managers and which disclosure techniques are most common. The…

1304

Abstract

Purpose

The purpose of this paper is to investigate the level of intellectual capital (IC) awareness among Portuguese bank managers and which disclosure techniques are most common. The annual report is regarded by some authors as the most important vehicle of information about banks’ affairs because of some specific characteristics of banks’ activities. However, organizations are increasingly using their webpages to disclose a broad spectrum of information. The objectives of this study are twofold: to investigate how Portuguese bank managers perceive the impact of IC disclosure on the bank’s competitiveness; and to assess the extent to which Portuguese banks voluntarily report their IC in annual reports vs webpages.

Design/methodology/approach

The methodology involved in the exploratory study includes the collection of secondary data – annual reports and websites – collected from the 28 banks operating in Portugal, and semi-structured interviews from 25 banking managers. Content analysis is applied using a constructed index based on two European frameworks – Intellectus and InCaS – slightly modified to take into consideration the peculiarities of the sector.

Findings

Results show higher level of IC disclosure in annual reports than that provided in websites. Human capital and structural capital are the most reported category in annual reports and, conversely, the disclosure of relational capital is higher in the webpages. Findings are found similar in comparison to various other studies on the subject which reveal very low level of IC disclosure, not yet receiving priority from the mentors of banks. Interviews reveal that not many managers recognize the need and significance of measuring and reporting IC, although it is recognized as a driver of competitiveness. For protecting business confidentiality, banks do not want to report information of sensitive nature.

Research limitations/implications

The analysis is limited to a single sector. Future research can expand to other industries (e.g. manufacturing, technological, services) to enable a more comprehensive understanding of IC disclosure in Portugal. The cross-sectional approach is also a limitation. A longitudinal study could be conducted for capturing the trend of reporting practices during the period. Further research could apply research methods other than content analysis (e.g. questionnaire survey, interviews or mixed-methods) in order to obtain a more in-depth view of how the Portuguese organizations manage, measure and report their IC.

Practical implications

Research may be of relevance for both banking managers and regulators. For banking managers because it offers an opportunity to envisage their banks’ future potential for growth and competitiveness. For regulators, the relevance of the study focusses on their understanding of developing mandatory reporting or additional policy requirements. This study provides a motivation for further research that contributes to a body of knowledge and practices on the IC disclosure.

Social implications

Emerging from the years of a financial crisis, restoring trust and confidence is the most critical challenge for banks to become competitive. IC disclosure could help to restore confidence.

Originality/value

The existing literature on the IC reporting and disclosure in the context of banking sector is limited. Based on the Intellectus model and the InCaS model we built an index of IC disclosure to banking sector which contributes to a greater accuracy, transparency and reliability in the disclosure of this unique sector. This initiative may encourage its applicability in other sectors.

Details

Journal of Intellectual Capital, vol. 18 no. 3
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 1 May 2007

Paulo Peneda Saraiva and Zélia Maria Silva Serrasqueiro

This work draws on important issues that are related to all socio‐economic agents. We refer to Sustainability, Corporate Social Responsibility (CSR) and Socially Responsible…

888

Abstract

Purpose

This work draws on important issues that are related to all socio‐economic agents. We refer to Sustainability, Corporate Social Responsibility (CSR) and Socially Responsible Investments (SRIs), arguing on the clear benefits they provide to companies and financial institutions. The main empirical objective of this work is to show a theoretical framework for the existence and supply of non‐financial information on financial products by financial institutions in the Portuguese Investment Market (comprising of Banks and Fund and Investment Companies – FIMCs).

Design/methodology/approach

Overall, 55 Banks and 41 FIMCs, were analysed, totalling 96 observations for analysis. The paper studies the supply of non‐financial information (i.e. social and environmental information) regarding the financial products in the Portuguese investment market (comprising of Banks and Fund and Investment Management Companies). Through surveys’ analysis, which were sent to 96 of these financial institutions, we conclude that the supply of these informations’ sets is practically inexistent.

Findings

Overall, the conclusions point to the fact that financial institutions surveyed are very much behind in this new framework and related tools, when considering similar financial institutions outside Portugal. There are some institutions that do provide, but when compared to other European and non‐European countries, the discrepancy is huge. It is concluded that much needs to be done in this field, starting with a clear definition of the benefits and costs of providing non‐financial information.

Originality/value

At the academic level, the authors have not found any good study neither on CSR nor on SRIs done by Portuguese researchers nor on its Market. A priori the authors felt that the Portuguese Banks and The Fund and Investment Management Companies were not committed to Sustainability issues, because they believe that for these business agents, Sustainable Development still means, Environmentalism. Through this study the authors seek to provide an image of how the Investment Market is to regards to Sustainable issues, in Portugal, and thus help financial institutions and economic agents (e.g. bank managers, portfolio managers, among others) to know more about these issues that are important to any company.

Details

Social Responsibility Journal, vol. 3 no. 2
Type: Research Article
ISSN: 1747-1117

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