Success factors in a CRM strategy: technology is not all

Organisations today need to create, maintain and reinforce relationships with customers. Customer Relationship Management (CRM) seems to have helped firms to better understand their relationships. However, past studies have looked at technology and customer orientations (COs) as key factors. This paper aims to analyse the simultaneous effect of Market Orientation (MO) (rather than CO), Knowledge Management (KM) and other organisational factors in order to explain how to implement a successful CRM. Findings suggest that MO and KM may influence CRM success. Data also suggest that particular organisational factors such as employees, leadership and specific know-how may be key factors in determining the success of CRM. For efficiency resource management, this paper recommends to focus not as much in technology, but on programmes for selection, training and motivation of employees which may enhance CRM objectives. Companies may also pursue a higher customer value by putting in place and reinforcing KM schemes in specific know-hows about CRM.     

Bank competition,concentration and financial stability in the Turkish banking industry

This paper analyzes the impact of competition and concentration on bank stability in the Turkish banking industry over the period 2002–2012. The Boone indicator and the efficiency-adjusted Lerner index are used as proxies for competition, while the non-performing loans (NPL) ratio and Z-scores are used as proxies for bank stability. The main results indicate that competition is negatively related to the NPL ratio but positively related to the Z-score. The results further indicate that greater concentration has a positive impact on the NPL and a negative impact on the Z-score. We also use a quadratic term of the competition measures to capture a possible non-linear relationship between competition and stability. The results show that the coefficient of the quadratic term is negative for the NPL model and positive for the Z-score model. Overall, our findings provide support for the competition-fragility view.     

我国银行理财业务发展趋势研究

对国内商业银行理财业务的发展状况进行了简要概述， 进而对理财业务开展过程中的一些问题进行了分析， 强调指出市场化应该成为银行理财业务转型升级和创新发展的方向， 并提出了实现市场化发展方向的若干具体措施。     

Will FinTech make regional banks superfluous for small firm finance? Observations from soft information-based lending in Germany

Regional banks have a competitive advantage in that short distances to clients enable the use of soft information for superior lending decisions. If the ambition of FinTech start-ups to create superior screening and monitoring technologies materialises, this advantage would be diminished and regional banks would become superfluous for small firm finance. To explore this claim, the paper in hand analyses qualitative empirical data about the lending processes and rating system use of regional German savings banks. In essence, the results from participant observation and interviews clarify the importance of “real” soft information for critical lending decisions. The context specificity and limited verifiability of “real” soft information hamper it from being hardened through the use of rating systems and other bank-ICT. Though FinTech's scoring technologies may overcome the first limitation, it appears likely that in the course of scoring development “real” soft information will be systematically crowded out due to the manipulation problem. The paper expects improved access to finance for SMEs if FinTech solutions overcome both limitations of “real” soft information use, or if peer-to-peer lending and regional banks coexist. Deteriorated access to finance is expected if FinTech companies displace the relationship banking of regional banks due to enhanced competition, without preserving the advantages of “real” soft information with superior screening and monitoring technologies. The paper concludes with recommendations on how to prevent deteriorated access to finance for small firms by promoting fair competition and FinTech innovations.     

On the role of Islamic and conventional banks in the monetary policy transmission in Malaysia: Do size and liquidity matter?

This paper empirically investigates the impact of monetary policy on the credit supply of Islamic versus conventional banks of Malaysia using an unbalanced panel dataset over the period 2005-2016. While estimating the effects of three alternative measures of monetary policy on banks' credit supply, we include several bank-specific and macroeconomic variables in the specification as control variables. We provide strong evidence on the existence of the credit channel of monetary policy transmission mechanism in Malaysia. Yet, we show that Islamic banks respond considerably less to changes in monetary policy instruments as compared to their conventional counterparts. We also find that the monetary policy measures affect small-sized banks and less-liquid banks more as compared to large-sized and more-liquid banks. Our findings suggest that for an effective monetary policy, there is a vital need to consider the nature of Islamic banking while devising any monetary policy instruments to manage credit supply in the economy.     

Financial integration and banking crisis. A critical analysis of restrictions on capital flows

We investigate the effect of financial integration on a banking crisis. In contrast to existing works, we allow for capital restrictions while studying the impact of financial integration on a banking crisis. Using firm-level lending and borrowing information in the global market of syndicated loans; we generate aggregate measures of financial integration and examine how countries with capital flow restrictions thrive in the wake of a banking crisis. We concentrate on basic network measures of integration for a panel of 62 countries that allow for capital restriction at any time within the sample period. Financial integration increases the incidence of a banking crisis, and capital restrictions worsen a banking crisis. However, capital restrictions reduce the negative impact of financial integration on the incidence of a banking crisis. Thus, financial integration becomes beneficial when countries allow for some forms of capital control.     

金融压力、所有制结构与银行风险承担——基于中国影子银行活动的实证研究*

2008年金融危机之后，监测与防范系统性金融风险、维护金融稳定成为各国监管机构的工作重点。本文构建了一个反映我国系统性金融风险的中国金融压力指数（FSIC）。基于此，本文研究不同所有制结构的商业银行将如何调整影子银行业务以应对系统性金融风险。实证结果表明，当金融压力上升时，相较于国有银行，非国有银行的风险承担水平显著上升。进一步研究发现，这一差异与两类银行对影子银行这一风险业务的调整有关。当金融压力上升时，国有银行会显著减少影子银行业务，而非国有银行的影子银行业务不会减少。本文提出了国有银行的双重职能这一观点来解释实证研究的发现。本文的研究结论对于指导我国金融市场化改革和防范系统性金融风险具有重要启示。     

Too-Big-To-Fail: Why Megabanks Have Not Become Smaller Since the Global Financial Crisis?

ABSTRACT

More than ten years after the global financial crisis, what has happened to the ‘too-big-to-fail’ (TBTF) banks whose reckless behavior was among its preconditions, but which received public support and guarantees in the midst of that crisis? Insofar as this too-big-to-fail status helped create the crisis and then imposed costs on the rest of society, we would expect these banks to have shrunk. We investigate the evolution of 31 global-TBTF banks and find that their overall size has hardly recorded any substantial change. However, there is no sense of urgency in the flourishing post-crisis literature on TBTF banks about the need to contain their size; the prevalent view therein is that if properly regulated, the risks that arise from a financial system dominated by TBTF banks are manageable. This view rests on the same overly narrow theoretical underpinnings whose flaws were exposed in the crisis. We argue that too-big-to-fail banking is embedded in a set of self-reinforcing policies—consolidation, balance-sheet support through quantitative easing, favorable regulations, bank lobbying, and geo-economic and geo-political considerations—which explain why these banks have not shrunk and why they remain a threat to financial stability, well after the lessons of the crisis should have been learned.     

What is the major determinant of cross-border banking flows?

This study examines the major determinant of cross-border credit flows through global banks across 70 countries. Employing a Bayesian dynamic latent factor model, we decompose volatilities of banking flows into the contribution of a global common factor, regional common factor, and country-specific factor. The results indicate that the global and regional common factor explains about 40–50 percent of volatility in overall cross-border banking flows. In particular, the contribution of the global common factor increased in the 2000s. Simultaneously, main determinants are largely heterogeneous across countries: this implies that the desirable policy response to credit inflows may differ for each host country.     

制度变迁下国有商业银行农村服务网络演化——以农业银行兰考县支行为例

经济转轨背景下农村的银行服务网络呈现出不同于城市的演化特征。从制度变迁角度建构分析框架,基于历史、调查与访谈数据,以农业银行兰考县支行为例,探讨我国商业银行农村服务网络演化动力机制。研究表明:国有商业银行农村服务网络经历了恢复成立后的快速扩张和密集的人工网点服务,市场化改革中农村业务收缩和大规模网点撤并,到新时期人工、自助、电子、代理等多元服务渠道扩张;农村银行服务网络演化是商业银行和制度环境相互作用的空间过程,普惠金融战略下我国特别强调金融服务的均等化和基础金融网点的全覆盖,商业银行不断借助新的伙伴关系开拓农村市场,其中合作代理日益发挥重要作用。不同地区、不同商业银行农村服务网络模式的差异,农村银行服务网络转型对农村社会经济发展、金融生态环境改善、农民金融素养提升的影响等还需进一步研究。