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From the introduction: Based on the findings of the correlation analysis described in chapter 7.1, factors of influence and variables statistically not related to financial B2C e-commerce can now be distinguished. While the focus of this part of the analysis lies on factors showing significant correlation coefficients in relation to the research topic, this does not mean that the non-correlated factors are not of importance or somewhat connected. The statistical measurements may not be suitable for this type of analysis, survey results may be misleading or the situation will have changed in the last two years after the investigation. On the other hand, the observed correlations do not necessarily equal a causal relationship and the high complex matter can not be explained by single variables as influence factors. The conducted correlation analysis only serves as an indicator for potential influence factors or accelerators and has to be carefully evaluated. Keeping these considerations in mind, the statistical analysis within the scope of this masters dissertation will support the following conclusions and interpretations. First of all, computer usage and skills as well as internet usage and skills need to be on a high level in a country to facilitate financial B2C e-commerce. Residents of countries with higher levels for the subject of examination will probably already have gained adequate skills, as indicated by a medium strong negative relation to computer courses taken in the last three months and other online activities such as online information search and online banking positively correlated. While online banking is partially included in the variable e_comm representing financial B2C e-commerce through customer's usage of online financial services, this particular result may not be totally conclusive. However, it seems logical that consumers with good computer and internet skills also spending a lot of time with advanced activities on the internet may also engage in financial B2C e-commerce. This assumption narrows down the target group and excludes a certain clientele from online product offers of financial institutions - banks will need to adapt their web portals accordingly, set up initiatives improving computer and web skills of their consumers and meet their consumers on the internet, e.g. with advertising while they are using search engines. Practical evidence supporting these interpretations can be found in several examples of the past, e.g. extensive usability evaluations for UK banks by the press and specialised agencies, internet courses for seniors offered with German Postbank or online marketing success stories of financial enterprises. Similar to skills and frequency of use, basic technical availability of infrastructure such as computer system and internet access is required for the realisation of the research issue. Since mobile ownership and high-speed broadband access are also highly correlated, it can be assumed that countries with a generally higher technological development will have higher levels of financial B2C e-commerce. It can be expected that almost all European countries will reach digital maturity in the next few years and will be implicit, which will automatically accommodate the matter of examination. Structural factors of the finance sector do not show linkages to financial B2C e-commerce, only countries' GDP show a certain positive correlation, which is in line with findings on online banking. E-government seems to be in a similar state like the research topic, but does not seem to be of direct influence. General e-commerce in a country seems to have a positive relationship with financial e-commerce, especially in countries with a low rate of encountered problems on customer side. This makes sense as customers will possibly have good experiences with this business practice and will therefore not limit their e-commerce activity to certain business sectors. One could also infer that banks in countries with a high rate of general e-commerce will have better opportunities to market their online product sales. Going further, banks should actively support e-commerce business models of all sectors, for example though offering electronic, credit card or e-commerce shop payment systems. Whereas most cross-border e-commerce variables examined would not show high correlation coefficients, concerns about varying consumer protection in other countries seem to be important for consumers actively involved in financial B2C e-commerce. Even more interestingly, countries with a high level of financial B2 e-commerce would also show a high readiness of their consumers to participate in cross-border e-commerce, especially if prices in foreign countries are lower. Obviously, customers using domestic online services could easily expand their buying habits to other European countries, if suitable products offers and legal frameworks are available. Through cross-border financial B2C e-commerce, there is a potential danger to lose customers to foreign banks - domestic banks observing critical tendencies need to act accordingly. First of all, marketing research is needed to define current consumer buying habits and problems related. Banks with the necessary market power could adapt their product offers to target consumers prone to switch to foreign competitors, smaller local banks need to differentiate and exploit local advantages. Examples can be found in the German market with Commerzbank and its direct bank subsidiary comdirect directly competing with INGDiBa of the Dutch ING group or with Kreissparkasse Köln using local affiliates like sports clubs for their product sales, promoting high-interest deposit account in local Cologne dialect and offering a loyalty card for a local business partner network to their customers. Trust in online financial transactions and their security as well as a positive perception of consumer rights protection seems to be necessarily interwoven with financial B2C e-commerce. It is therefore crucial for financial institutions to ensure secure transactions according to the latest industry standards, provide valid information on internet security to customers and offer practical customer support concerning virus protection and internet fraud prevention. Banks should also value the importance of consumer rights highly, e.g. through using complaint management, support of nation or European wide legal initiatives and positive attitude towards consumer action groups. Most banks will have implemented security facilities, consumer rights are usually not explicitly mentioned and outlined on private customer webpages of commercial banks. The formal possibility to make complaints and enquiries should be largely improved by financial institutions in the EU. While the European Commision has for example established the Financial Services Consumer Group to promote this matter, which now tragically appears in public in connection with the Financial crisis, illiquid banks and frozen consumer accounts. Payment types preferred in a country are of interest for the level of financial B2C e-commerce - logically, countries with a high adoption of bank transfers are likely to have a higher rate of e-commerce in place, while countries using traditional methods such as cheques or cash show lower adoption rates. This may be explained by a general lack of a necessity and willingness to use modern instruments such as online financial transactions. Promoting bank transfers, especially through self-service terminals and online channels, may therefore help banks to promote their e-commerce activities.Inhaltsverzeichnis:Table of Contents: 1.Research Context1 1.1Introduction and Theoretical Background of the Research1 1.2Professional and Academic Significance of the Research3 2.Research Problem, Objectives and Scope5 2.1Research Problem Statement and Research Questions5 2.2Research Hypothesis6 2.3Research Aims and Objectives6 2.4Scope of the Research7 3.Literature Review8 3.1Overview Literature Review8 3.2Introduction to the Current EU Financial Sector9 3.3Developments and Forces of Change in the EU Banking Environment10 3.4Strategic Reactions and Major Trends in EU Banking10 3.5Recent Developments and the Current State of the EU Retail Banking Market10 3.6Recent Developments and Current State of Online Banking and Financial E-Commerce in the EU12 3.6.1E-Business Potential of the EU Banking Industry12 3.6.2Online Banking in EU countries12 3.6.3Financial E-Commerce in EU countries14 3.6.4Cross-border financial e-commerce16 3.6.5Advantages, Problems and Future Prospects of Financial E-Commerce in the European Union18 3.6.6Potential Influence Factors on Financial E-Commerce in the EU20 3.7Reflective Summary, Key Findings and Relation to Research Topic24 4.Research Methodology32 4.1Research Design32 4.2Research Strategy32 4.3Research Methods33 4.4Data Sources34 4.4.1Primary Data34 4.4.2Secondary Data35 4.5Data Analysis for Research Questions38 4.5.1Research Question 138 4.5.2Research Question 239 4.5.3Research Question 341 4.5.4Research Question 443 5.Research Question 1: Current State and Extent of B2C E-Commerce in the EU Banking Sector44 5.1Research Results and Findings for Research Question 144 5.1.1Basic Prerequisites for Provision of Financial Services Online44 5.1.2Provision of Financial Services Online and Financial E-Commerce45 5.1.3Consumer Adoption of Financial Services Online / Fin. E-Commerce47 5.1.4Cross-Country Financial E-Commerce50 5.2Research Analysis and Interpretation for Research Question 152 5.2.1Basic Prerequisites for Provision of Financial Services Online52 5.2.2Provision of Financial Services Online / Financial E-Commerce54 5.2.3ConsumerAdoption of Financial Services Online / Fin. E-Commerce55 5.2.4Analysis and Interpretation for Cross-Country Financial E-Commerce57 5.2.5Analysis and Interpretation Conclusion58 6.Research Question 2: Country Cluster Analysis for B2CE-Commerce in the EU Banking Sector59 6.1Research Results and Findings for Research Question 259 6.2Research Analysis and Interpretation for Research Question 262 7.Research Question 3: Influence Factors on B2C E-Commerce in the EU Banking Sector66 7.1Research Results and Findings for Research Question 366 7.2Research Analysis and Interpretation for Research Question 370 7.2.1Quantifiable Factors of Influence70 7.2.2Other Factors of Influence75 8.Research Question 4: The Case of Sparkasse Langen-Seligenstadt and B2C E-Commerce77 8.1Research Results and Findings for Research Question 477 8.2Research Analysis and Interpretation for Research Question 477 9.Reflections on the Current Financial Crisis and its Relation to the Research Topic83 10.Conclusion, Policy Recommendations and Future Research85Textprobe:Text Sample: Chapter 4.1, Research Design: Providing the framework for collection and analysis of data, the research design of the planned study can be best described as a cross-sectional design with comparative, cross-cultural and international research elements. Quantitative or quantifiable data (extent and potential influence factors of B2C e-commerce in the banking sector) is gathered for a range of cases (EU countries) at a single point in time to detect patterns of association. This approach seems suitable as it allows for a systematic and standardised method to examine relationships between the variables - financial e-commerce and its key influence factors - within the European sample. However, since the proposed design approach has no elements of an experimental design, problems of internal validity, credibility and uncertain causal relationships may occur. As already indicated in the research objectives, another research design in the form of a case study will additionally be used to apply conclusions and recommendations derived from the analysis to an exemplary mid-sized bank in Germany. The case study approach seems particularly interesting as the researcher is working for the examined company, will have access to internal resources and have opportunities to gather instant feedback on suggested improvements. Research Strategy: The research strategy chosen reflects the nature of the examined variables – some examined influence factors will be of quantitative character whereas others are rather difficult to quantify. Since the focus of this dissertation lies on the quantitative analysis of the extent and current state as well as on measurable relationships and possible dependencies between e-commerce adoption and several other factors, quantitative research serves as an appropriate research strategy. Having established this fact, it is equally important to realise that a well-balanced and complete appraisal of financial B2B e-commerce will involve qualitative factors and business case examples. Building on the complementarity of both groups of factors, elements of mixed methods research need to be taken into account as well. Research Methods: The research methods used are directly linked to the stated aims and objectives and are supposed to help achieve them in the most effective and meaningful manner. Almost all research objectives can be analysed with quantitative data analysis building on a relevant data set. However, due to the expected nature of the influence factors examined, qualitative document analysis of secondary research and an exemplary case study based on primary research will supplement the quantitative analysis. The reasons for choosing these research methods can be described as follows: first of all, the availability of current official statistics on this topic. Secondly, studies already conducted in the similar field of online banking with informative results and the connection with a company for a case study (see primary data) were seen as an excellent starting point. A number of reasons would even exclude other research methods such as surveys, interviewing techniques or the triangulation approach, which is commonly used for researching internet adoption. The European scope of the research as well as the highly confidential banking sector would not enable the researcher to conduct a survey research or interviews of representative nature. To enquire about the state of European B2C e-commerce in the financial sector, impact on domestic banks and its influence factors, it seems justified to use general statistical information available in the public domain together with secondary data for non-quantitative information as well as a case example thematically linked to the day-to-day business of local banks. Data Sources - Primary Data: Primary research was conducted first to determine the interest, level of support, requirements and wants of the sponsoring company Sparkasse Langen-Seligenstadt, Frankfurt, Germany, (see case study in appendix B) to facilitate and support dissertation on this particular topic. During the process of writing the dissertation several presentations and feedback sessions were arranged with the department of electronic media. Interim and final results were also discussed in an informal manner at the Conference on Innovation in the Banking Industry and at various other events. Most importantly, the case study employed was set up with the help of the electronic media department at Sparkasse Langen-Seligenstadt. In several interview sessions and group discussions, employees with different functions within the company, e.g. product managers, web designers, marketing experts, customer support agents, provided their insights and opinions on the reality of online product sales as conducted by Sparkasse Langen-Seligenstadt. From a future perspective, it may be possible to introduce the findings to a group of experts from different banks and discuss the results and implications, since the company is part of a larger network of German savings banks. The excellent availability of primary data and information from inside the company due to personal involvement of the researcher is highly beneficial for the reflective examination of B2C e-commerce in the financial sector. Data Sources - Secondary Data: For the thorough investigation into the extent of financial e-commerce and level of adoption by consumers, related information and data to be used had to meet the following criteria: a recent publishing date, highly relevant research topics and questions, multinational scope as well as high quality of the data set and its underlying questionnaires. The quantitative research parts of this dissertation were therefore largely based on the data set of the Eurostat Community Survey on ICT usage and e-Commerce in Enterprises in the Financial Sector, the analogue survey research for all kinds of enterprises and ICT Household survey, as shown in figure 9 at the end of this chapter. These sources of data were considered to be most appropriate for several reasons. Probably the most extensive and current data source on this issue, these sources covered the entire European Union (EU27 plus partially Norway and Iceland) and a number of e-commerce related questions in the year 2006. The quality and density of data seemed to be of high quality, with a representative sample of more than 100,000 enterprises in total for all sectors, more than 10,000 enterprises for the financial sector and 1000 to 6000 households in every country. The data sets were freely available as a working database, to be used with statistical tools such as SPSS or Microsoft Excel. Problems of validity seemed to be fairly low as standards and sample questionnaires were set up by the European Commission for the agencies conducting the analysis within the particular country. Several problems and limitations were identified in connection with the usage of these data sets. First of all, a general limitation to official statistics including this data set is the usage of aggregate data in some cases, so a potential for ecological fallacy as well as generalisation exists. Next, the pan-European sample incorporating highly different cases may not be equally as representative for all cases (see % of sampled enterprises in appendix D 2). Single missing values weakened the explanatory power for some parts of the analysis. It was also the case that data on certain issues, e.g. consumer satisfaction with product offers in this field, was not available for the entire sample at this point in time. Due to a lack of alternatives, following other examples of research using a similar approach as well as with reliance on the reputation of Eurostat, the extensive documentation) and the quality assurance of the OECD and other high profile institutions in this case, the decision to use the sources described seemed justified and a sound basis for the proposed research. Additionally, several Eurobarometer studies were used and considered for the data analysis of the third research question. Since they contained valuable information on public opinion regarding issues related to the research topic, it had to be accepted that the reference year varied in a few cases. For the qualitative part of the research and the literature review, other secondary resources such journals and reports available through the LSBU E-resources, Reuters Insight and the Business Source Premier database were used to start. Later on, materials from business school libraries in Germany amended prior findings. For particular parts of the research, e.g. regulatory issues or web usability, specific web resources were employed.

We exploit the spatial and temporal variation of the staggered introduction of interstate banking deregulation across the U.S. to study the relationship between credit constraints and consumption of durables. Using the American Housing Survey from 1981 to 1989, we link the timing of these reforms with evidence of a credit expansion and household responses on many margins. We find evidence that low-income households are more likely to purchase new appliances after the deregulation. These durable goods allowed households to consume less natural gas and spend less time in domestic activities after the reforms.

Under the conditions of the economic crises, the "First Home" program was launched on the banking market in Romania in 2009 - a banking product with strong social implications guaranteed by its advantages. In this paper, the "first home" product is presented through the legislative aspects that regulate its presence on the market, as well as its evolution from the launching moment to present.

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