The distance marketing of consumer financial services directive

The EU directive on the distance marketing of consumer financial services (the DMD) was adopted in September 2002 bringing financial services in line with other retail sectors. This paper begins with an analysis of the principal substantive provisions of the DMD before considering the obligations it places on member states to ensure its substantive provisions are enforceable in national law and that an adequate system of redress is available to consumers. The paper then summarises the path taken by the DMD through the European legislative machine and analyses how the DMD will facilitate the integration of a European single market in financial services while striking an essential balance between the rights of the consumer and the rights of financial services providers. In the final part, consideration is given to how the DMD will be implemented by member states. In particular, attention is directed to the overall impact the DMD is likely to have on the marketing of financial services in the UK and how HM Treasury and the Financial Services Authority aim to harmonise domestic law with the DMD.     

如何看待香港的金融地位?

记者:首先,有必要请你谈谈"一国两制"实施10年来给香港经济、社会分别带来了多大影响? 陈志武:在过去10年里,虽然出现过几次挑战,但在没有出现大的持续性政治或社会危机的情况下,"一国两制"运作得基本顺利,香港独特的法治体系和开放的新闻媒体基本被保留,并且还有许多好的发展,香港民主进程也在加速.     

The relative influence of competitive intensity and business strategy on the relationship between financial leverage and performance

This study empirically investigates the effects of competitive intensity and business strategy on the relationship between financial leverage and the performance of firms. Based on a sample of US manufacturing firms, this study confirms the hypothesis that the cost of debt is higher for product differentiation firms than cost leadership firms. Furthermore, the results indicate that competitive intensity has a negative effect on the leverage-performance relationship, suggesting that competition acts as a substitute for debt in limiting manager's opportunistic behavior. These findings reinforce the need to consider moderating factors such as strategic choice and the environment in which a firm operates when investigating the effects of leverage on performance.     

The influence of marketing communications strategy on consumer purchasing behaviour in the financial services industry in an emerging economy

The financial services sector is characterised by a high level of consumer perceived risk and irrational behaviour in decision-making, which is predominantly influenced by the effect of communication and the application of heuristics as a function of communication in consumer decision-making. This situation promotes marketing communication as one of the most essential activities that financial institutions rely on to mitigate the perceived risks and to satisfy consumers’ quest in understanding financial products. Hence the importance of this research is to establish the effects of marketing communication on consumer purchasing behaviour in emerging economies that are experiencing expanded financial markets but limited corresponding research insight. To achieve the aim of this study, the research uses data from 360 customers of selected financial institutions in Ghana. The hypotheses are tested using the structural equations modelling technique. The results of the study reveal marketing communication strategies evaluated have positive and significant impacts on consumer purchase behaviour. However, amongst the marketing communication strategies tested advertising and celebrity endorsement were found to have an insignificant relationship with consumer purchase behaviour. The study offers practical and theoretical insights into understanding the dynamics and nuances of the integrated marketing communication mix and how they influence the purchase behaviours of consumers.

     

论注册会计师新业务拓展与服务营销的连结

随着经济体制改革的不断推进与宏观政策形势的逐步改善,与传统审计服务相区别的会计服务、管理咨询等非审计服务涌现,会计师事务所业务呈现多元化发展趋势,这既是机遇,也带来了挑战.文章将服务营销理念运用到新业务拓展中,提出业务服务营销与行业服务营销概念,研究探讨业务服务营销策略与行业营销体系的建设.     

Relationship marketing in the financial services industry: The importance of customer education,participation and problem management for customer loyalty

The effectiveness of relationship marketing efforts in services selling is to a large extent dependent on customers' commitment to increase the depth and breadth of their relationship with the organisation. In this study, we seek to extend current thinking by presenting a model that examines the relative importance of customer education, participation and problem management in driving customer loyalty. To test the relationships between these variables, we use data collected from 1,268 clients of a global financial services firm. Overall, the results support the hypothesised model and show customer education to be the strongest determinant of client loyalty. Current findings provide implications for multi-product financial institutions that are of theoretical and practical interest alike.     

当代金融业的定位与发展

当代，金融业在社会经济生活中扮演着越来越重要的角色，金融作为一种产业有着自身的特点。阐述金融业的产业特征，分析当代金融业的发展趋势，对于明确我国金融业定位，深化我国金融体制改革具有重要的参考价值。     

柯达新品助力金融业高效处理业务

近年来,随着金融业务交易量的突飞猛进,海量文件和票据的电子化处理模式已占据主流。扫描仪技术对提升金融服务水平,尤其是业务流程再造至关重要。该领域厂商之间的竞争也日趋激烈。为了满足金融客户的需要,很多厂商在产品性能、技术创新、降低成本,乃至环保等方面,都悉心钻研,以期拿出更有竞争力的产品和解决方案来保持和扩大自己的市场地位。     

Business to business: Lessons on segmentation and other issues from financial services markets

The aim of this paper is to provide business-to-customer financial services companies with an insight into the relevance of business-to-business segmentation for their companies. The whole area of understanding customers is being turned upside down by rapidly developing new patterns of intermediation, so almost paradoxically there is a much stronger focus today on ‘doing what works’ and ‘doing what is profitable’, rather than trying to optimise. Customers, whether final or intermediary, are simply changing too rapidly to permit the old stable analyses.     

Risk preferences and the marketing of financial services: Segmentation by birth order

Traditional investment questionnaires may yield an incomplete measure of clients’ risk tolerance. Birth order has the potential to provide additional insight into the true nature of customers’ risk aversion, thereby assisting financial advisors to formulate the optimal investment portfolio for each client. We summarize research findings on birth order-related personality traits that have potential impact on the financial services industry. Marketing implications for investment firms are discussed in a framework that considers customers’ birth order differences in risk tolerance, patience, financial goals and conformity.     

Attraction of marketing and sales professionals in the financial services industry: An analysis of pre-, during and post-financial crisis job postings

Attracting talent is key to a successful sales force, and financial services firms have long used online recruiting to achieve this. However, little is known about how firms attract financial services marketing and sales professionals. In this study, we present a content analysis of job postings for sales and marketing positions in the financial services industry that were posted before, during and after the financial crisis of 2008. Specifically, job postings in the United Kingdom and United States in 2006, 2009 and 2013 were examined. Implications for financial services firms are discussed.     

Measuring the effects of business intelligence systems: The relationship between business process and organizational performance

Business intelligence (BI) systems provide the ability to analyse business information in order to support and improve management decision making across a broad range of business activities. They leverage the large data infrastructure investments (e.g. ERP systems) made by firms, and have the potential to realise the substantial value locked up in a firm's data resources. While substantial business investment in BI systems is continuing to accelerate, there is a complete absence of a specific and rigorous method to measure the realised business value, if any. By exploiting the lessons learned from prior attempts to measure business value of IT-intensive systems, we develop a new measure that is based on an understanding of the characteristics of BI systems in a process-oriented framework. We then employ the measure in an examination of the relationship between the business process performance and organizational performance, finding significant differences in the strength of the relationship between industry sectors. This study reinforces the need to consider the specific context of use when designing performance measurement for IT-intensive systems, and highlights the need for further research examining contextual moderators to the realisation of such performance benefits.     

网上银行对我国金融业的冲击与对策

当前，网络技术和信息技术的飞速发展以及电子商务的盛行，不但使各传统行业的经营成本大幅度下降，还给它们带来了全新的经营理念和经营方式。网上银行在这场网络化的浪潮中产生并以惊人的速度发展起来。     

论保险的本质与保险业在金融行业中的角色定位

保险的本质是以资金解决了经济社会运行过程中要素的短缺与需求之间的矛盾,实现了风险的分散和财富的调剂,保障了经济社会生活的稳定运行。从保险的本质出发,明确保险业在金融行业中的角色定位,是保险业实现科学发展的前提。在当前经济金融环境不确定因素增加,行业发展尚不充分的情况下,保险业偏离保障发展方向可能带来潜在的风险。只有坚持保险保障的发展方向,立足于专业化经营,不断创新,进一步加强监管,才能真正实现保险事业又好又快的科学发展。