Suchergebnisse

The SERVQUAL instrument, which measures customer perceptions of service quality, is applied to retail financial institutions in Brisbane. As in the original SERVQUAL study, five factors emerged: tangibles, reliability, responsiveness, assurance and empathy. Consumers' experiences failed to match their expectations on virtually all dimensions. The study also found some differences in consumer perceptions of service quality based on age, gender and type of financial institution, suggesting that more could be done by financial institutions to segment their markets.

The double aim of protecting financial consumers and the stability of the markets in the context of financial institution failure -- International initiatives on financial law and financial consumer protection prior to the crisis : from economic externalities to legal rules -- International initiatives on financial law after the crisis : reconsidering systemic risk and the protection of financial consumers -- Development and objectives of eu financial law on financial consumer protection prior to the crisis : focusing on the creation of a single market -- Effect of the crisis on EU financial architecture : centralisation and concentration of powers at the EU level -- EU law on financial consumer minimum protection in the event of financial institution failure prior to the crisis : depositors as savers -- The new and proposed EU law on financial consumer protection in the event of financial institution failure after the crisis : depositors as investors? -- The new EU law on the recovery and resolution of financial institutions -- An EU right of financial consumer protection?

Official interest rate changes should influence short rates on money market instruments and retail products, such as deposit accounts and mortgages, but complete pass‐through is often taken for granted. This paper provides a theoretical and econometric framework for assessing the evidence for this assumption using seventeen years of monthly data for rates on thirteen deposit and mortgage products offered by individual UK financial institutions. The methodology allows for asymmetries and non‐linearities in adjustment and the results show that the speed of adjustment in retail rates depends on whether the perceived 'gap' between retail and base rates is widening or narrowing.

This book introduces the fundamentals of retail credit risk management, provides a broad and applied investigation of the related modeling theory and methods, and explores the interconnections of risk management with other firm operations and industry regulation. The focus on retail (private individuals and small-medium enterprises) and the constant reference to the implications of the financial crisis for credit risk management, make the book distinctive. Furthermore, the involvement of academics, regulators and professionals from major global banks and consulting firms provides a global focus on the right balance between theory and applications. This book is aimed at MBA/Executive students who are planning to move into a career in professional credit risk management, and for professional risk managers looking for quantitative and updated methods of measurement and management in the area of retail credit risk.

This paper investigates the relationship between subjective financial literacy, i.e. self-reported by investors, and trading behavior. In particular, we use the level of financial knowledge and experience reported in the MiFID tests by retail investors. Such tests are implemented in the EU from the so-called MiFID directive since November 2007. We show that subjective financial literacy helps explain cross-sectional variations in retail investors' behavior. Investors who report higher levels of financial literacy seem to invest smarter, even after controlling for gender, age, portfolio value, trading experience and education. They trade more and are less prone to the disposition effect. They tend to concentrate their portfolios on a small set of stocks and achieve diversification through investment funds holding. Their trading behaviors allow them to display higher gross and net returns as well as higher excess Sharpe ratios. Our findings are relevant for both policy making and understanding retail investors' behavior.

This paper investigates the relationship between subjective financial literacy, i.e. self-reported by investors, and trading behavior. In particular, we use the level of financial knowledge and experience reported in the MiFID tests by retail investors. Such tests are implemented in the EU from the so-called MiFID directive since November 2007. We show that subjective financial literacy helps explain cross-sectional variations in retail investors' behavior. Investors who report higher levels of financial literacy seem to invest smarter, even after controlling for gender, age, portfolio value, trading experience and education. They trade more and are less prone to the disposition effect. They tend to concentrate their portfolios on a small set of stocks and achieve diversification through investment funds holding. Their trading behaviors allow them to display higher gross and net returns as well as higher excess Sharpe ratios. Our findings are relevant for both policy making and understanding retail investors' behavior.