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Financial Services Firms (financial + services_firm)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	80%

Selected Abstracts

The Impact of Profit Sharing on the Performance of Financial Services Firms*

JOURNAL OF MANAGEMENT STUDIES, Issue 4 2005
Michel Magnan
abstract Relying on macro theories (agency and organizational control) as well as micro theories (goal setting and expectancy), this study investigates the impact of profit-sharing plan (PSP) adoption on the value creation process of financial services firms. The study relies on a comprehensive methodological approach that is both quantitative, with a dual cross-sectional/longitudinal (pre-post) design that compares PSP adopters with a control group of PSP non-adopter firms, and qualitative through interviews with some adopting firms' managing directors. Results show that firms adopting a PSP enhance their profitability in comparison to both their own prior performance and to firms that are not adopting a PSP. Results also show that the adoption of a PSP: (a) positively influences only profit drivers that are under employee control; and (b) is more likely to have a long term, positive impact on external profit drivers than on internal profit drivers. Qualitative data from field interviews corroborate and enrich these quantitative findings. [source]

Economic Capital and Financial Risk Management for Financial Services Firms and Conglomerates by B. Porteous and P. Tapadar

JOURNAL OF THE ROYAL STATISTICAL SOCIETY: SERIES A (STATISTICS IN SOCIETY), Issue 2 2007
N. H. Bingham
No abstract is available for this article. [source]

Representation at Suncorp , what do the employees want?

HUMAN RESOURCE MANAGEMENT JOURNAL, Issue 3 2006
Paul J. Gollan
It is apparent from existing research that little is known about the effectiveness of non-union employee representation (NER) voice arrangements in Australian firms. This article examines both the non-union Suncorp-Metway Employee Council (SMEC) and union voice arrangements at an Australian financial services firm, Suncorp, and assesses their effectiveness in representing the needs of employees. This study is unique because it is one of the few examples of dual representation channels at a single firm. Overall the findings suggest that the effectiveness of union and NER arrangements is dependent on the union and NER voice channels being perceived by the workforce as both representative and able to act effectively or independently. However, while trade unions may provide greater voice than non-union arrangements, the strength of voice is dependent on the legitimacy and effectiveness of trade unions in representing employees' interests at the workplace. The findings also suggest that the marginalisation strategy used by the union in excluding SMEC from its industrial campaigns, coupled with employees' perception of a lack of effective union voice, could impact negatively on the influence that unions may have on management decision-making. This could also be perceived by employees as an inappropriate response by the union to management substitution strategies. As a consequence, any changes to industrial relations policy or trade union strategies regarding NER should be considered in the light of these findings. [source]

Evidence on Value Creation in the Financial Services Industries through the Use of Joint Ventures and Strategic Alliances

FINANCIAL REVIEW, Issue 2 2003
Kimberly C. Gleason
G21/G29/G14 Abstract While an extensive body of literature has examined merger, acquisition, and consolidation activity in commercial banks and other financial services firms, little attention has been paid to examining how these institutions use the cooperative activities of joint ventures and strategic alliances to accomplish their growth objectives. We analyze the effects of the use of joint ventures and strategic alliances by a sample of firms in the banking, investment services, and insurance industries. Our results show that commercial banks, investment services firms, and insurance companies experience significant abnormal returns of 0.66% on average when they announce their participation in a joint venture or strategic alliance. These abnormal returns are significantly positive across the four strategic motives of domestic, international, horizontal, and diversifying cooperative activities. Using a matched sample, we also show that our sample firms enjoy significant, positive, abnormal returns for holding periods of six, 12, and 18 months after the announcement of the cooperative activity. [source]