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2009 | Buch

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Cooperative Banking: Innovations and Developments

herausgegeben von: Vittorio Boscia, MA, Ph.D., Alessandro Carretta, Paola Schwizer

Verlag: Palgrave Macmillan UK

Buchreihe : Palgrave Macmillan Studies in Banking and Financial Institutions

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

The book describes the current role and rationale of co-operative banking and examines features such as governance, consolidation, outsourcing, shareholder value and rating evaluation. It then analyses the likely impact on the strategic, organisational and operative model of cooperative banks.

Inhaltsverzeichnis

Frontmatter

Introduction

1. Introduction

Abstract

Cooperative banks have been considered central players in economic and social development since the 19th century. Theoretical and empirical analyses identify their crucial role by reference to certain specific features, starting with their cooperative institutional form and their several forms of “proximity”. The mission of cooperative banks is to promote the economic interests and the social and economic benefits of their members-customers-employees, within a not-for-profit framework. Their activity is founded on such crucial ideas as mutuality, locality, ethics, solidarity and social cohesion.

V. Boscia, A. Carretta, P. Schwizer

Overview of Cooperative Banking

Frontmatter

2. The Theory and Experience of Cooperative Banking

Abstract

Cooperative banks operate in a highly competitive environment. Indeed, a restructuring process is occurring in the banking industry under the pressures of financial market globalization and European integration.

V. Boscia, R. Di Salvo

3. Institutional Models, Role of Shareholders (Member and Customers), Governance

Abstract

In industrialized countries (OECD, 2004), financial globalization and stronger market competitiveness, as well as the large number of corporate malpractice cases which have occurred internationally (such as Enron and Worldcom in the USA, Ahold in the Netherlands, and Parmalat in Italy), have made the enforcement of corporate governance (CG)¹ control mechanisms a priority.

P. Schwizer, V. Stefanelli

4. Merger and Acquisition in the Cooperative Banking Sector

Abstract

Since the end of the 20th century a growing preoccupation has emerged with the forms of the cooperative company, whose survival seemed almost threatened by the deep changes that have occurred in the inter-national economy (European Commission, 2001a).

V. Stefanelli

5. Outsourcing Policies in Cooperative Banking

Abstract

Outsourcing in cooperative banking can, for the most part, be analysed by way of responding to three significant questions. These questions are as follows:

(I)

For what ‘reasons’, and in what areas, is outsourcing used by particular banks and financial intermediaries, according to the main literature on this subject and the most significant practices described therein?

(II)

What are the guidelines for ‘good’ outsourcing, aimed at creating value according to safe and sound principles?

(III)

What are the opportunities and risks of outsourcing policies fol-lowed by cooperative banks?

A. Carretta

6. Shareholder Value and Efficiency of Cooperative Banks in Europe

Abstract

This chapter aims to assess (a) the shareholder value created by cooperative banks and (b) their cost-efficiency levels, using a large sample of cooperative banks in France, Germany, Italy and the United Kingdom over the period 1995–2002.

F. Fiordelisi

7. Rating Methodology for Cooperative Banks

Abstract

The assignment on the part of specialized agencies of ratings to the bond issues of enterprises, financial institutions, and governments assumes crucial significance from the point of view of issuers, investors and the financial system as a whole.

C. Giannotti

Specific Features and Innovations in Cooperative Banking

Frontmatter

8. The Impact of Basel 2 on Cooperative Banking

Abstract

Among the new challenges facing cooperative banking, a central role is played by the regulations governing capital adequacy.

S. Cosma

9. Internal Controls and Cooperative Banks

Abstract

The increase in competition in European banking and the dangers of the erosion of market shares have pushed financial intermediaries to critically review their competitive models in the search for the correct business equilibrium required in the new market scene.

V. Stefanelli

10. The Impacts of IAS—IFRS on Cooperative Banking

Abstract

The aim of Regulation (EC) no. 1606/2002 of the European Parliament on the application of international accounting standards is to harmonize the financial information presented by publicly traded companies, in order to ensure a high degree of transparency and comparability of financial statements (Commission of the European Communities, 2003).

M. Cotugno

11. Concluding Remarks

Abstract

Since the late 1980s international events, such as globalization, innovation, deregulation, disintermediation, consolidation, and the new emphasis on shareholder value have deeply modified financial and banking markets. Other events have affected European banking markets in particular, such as the completion of the EU single market programme and its extension to eastern European countries, and the creation of the euro area. These events have rapidly brought about dramatic changes in the level of competition, influencing the quality and the price of financial services and banks’ performance by squeezing profitability. In response to these changes, banks have initiated a deep restructuring and reorganization process at all levels, strategic, operational, and organizational. Yet, even in this increasingly competitive environment, cooperative banks remain successful and healthy, and are gaining market share at the expense of their competitors.

V. Boscia, A. Carretta, P. Schwizer

Backmatter

Titel: Cooperative Banking: Innovations and Developments
herausgegeben von: Vittorio Boscia, MA, Ph.D.
Alessandro Carretta
Paola Schwizer
Verlag: Palgrave Macmillan UK
Electronic ISBN: 978-0-230-23578-6
Print ISBN: 978-1-349-54563-6
DOI: https://doi.org/10.1057/9780230235786