Wenn Unternehmen ihre Rentabilitat sichern und dazu Kosten analysieren und steuern wollen, bedienen sie sich der Methodik des Kostenmanagements. Dazu stehen verschiedene Techniken zur Verfugung. Gerade fur gemeinkostenverursachende industrielle Prozesse stellt sich das Prozesskostenmanagement als besonders geeignet heraus. Lernen Sie in diesem Buch die Industrie als treibende Kraft der Wirtschaftsleistung kennen. Erfahren Sie, warum Wettbewerb und Kostendruck in der Industrie stark ausgepragt sind. Und informieren Sie sich uber die Moeglichkeiten, wie Sie das Prozesskostenmanagement auf industrielle Prozesse anwenden koennen.

The dramatic story of the last fifty years of the Speyer banking dynasty, a Jewish family of German descent, is surprisingly little known today, yet at the turn of the 20th century, Speyer was the third largest investment banking firm in the United States, behind only Morgan and Kuhn, Loeb. It had branches in London, Frankfurt and New York, and the projects it financed included the Southern Pacific Railroad, the London Underground and the infrastructure of the new Cuban republic. Later, it was the first major banking firm to finance Germany's Weimar Republic, as well as providing League of Nations loans to Hungary, Greece and Bulgaria. Yet, the firm was doomed by the nationalist passions aroused by World War I. Its English partner was denaturalised and exiled; its American partner enjoyed reduced standing because of his connection to Germany; and the Frankfurt branch closed with the coming of the Third Reich, its German partner fleeing into exile. The firm was dissolved in 1939, a surprisingly anticlimactic end to one of the great international banking companies of modern times. George W. Liebmann here tells the story of the firm and the family - shedding new light on the protagonists of a remarkable dynasty, who came undone in the dramatic years of the early 20th century.

Anhand ausgewahlter Praxisbeispiele untersucht Victor Rutz zwei Ansatze zur Nutzung der aktuell kontrovers diskutierten Distributed Ledger Technology, den Public- und den Private-Blockchain-Ansatz. Neben einer umfangreichen Beschreibung der zugrundeliegenden Technologie liefert der Autor eine detaillierte Betrachtung kritischer Erfolgsfaktoren und zeigt so die individuellen Starken und Schwachen beider Ansatze auf.

Markus Bramberger untersucht die europaweite Umsetzung der Payment Services Directive II (PSD II) im Bankensektor, die sich in allen EU-Landern durch eine regional divergierende Auslegung der Gesetzestexte unterscheidet. Der Autor gibt Antworten auf die Frage, ob Banken - wie wir sie noch heute kennen - pauschal durch innovative und digital exzellent positionierte Dienstleister, wie z. B. durch FinTech-Unternehmen, im Zuge von Open Banking substituiert werden koennen. Es ist offensichtlich, dass nur operativ klar ausgerichtete Unternehmensleitbilder der Digitalisierungsoffensive standhalten. Vor dem Hintergrund dieser herausfordernden, aber auch chancengenerierenden Zeit im Bankensektor leistet dieses Buch einen wesentlichen Beitrag uber die Zukunft des bargeldlosen Geldtransfers im gesamten EU-Raum.

In dem vorliegenden Buch analysiert Rene Berg die informationsoekonomische Bedeutung von Informationsintermediaren bei der Kanalisierung legitimer nachhaltiger Unternehmensaktivitaten. Auf Basis einer institutionentheoretisch entwickelten Soll-Nachhaltigkeitskonzeption wird ein asymmetrischer Bewertungseffekt in Form des informationsbedingten Legitimitatseffekts modelltheoretisch prognostiziert und empirisch am Kapitalmarkt nachgewiesen. Aus den gewonnen Erkenntnissen werden konkrete Handlungsempfehlungen fur eine nachhaltige Regulierung abgeleitet.

Abgeleitet aus der Diskrepanz zwischen den Einschatzungen von Expertinnen und Experten und der aktuellen Situation am Mobile Payment Markt zielt dieses Buch auf die Identifikation der zentralen Faktoren der Mobile Payment Akzeptanz aus der Sicht potentieller Nutzerinnen und Nutzer ab. Die Untersuchung fokussiert auf die Erforschung der Akzeptanz von MP mittels Smartphone im stationaren Handel. Das Smartphone wird u. a. von der European Banking Federation als das zentrale Medium im Bereich Digital Banking eingeordnet. Geringe Nutzungsraten bei Mobile Payment im Allgemeinen und vor allem bei Mobile Payment im stationaren Handel zeichnen allerdings ein anderes Bild.

This book provides unique information to prepare graduates and newly hired corporate and investment banking professionals for a career in the global markets environment of large universal and international investment banks. It shows the interrelationship between the three specific business functions of sales, trading, and research, as well as the interaction with corporate and institutional clients. The book fills a gap in the available literature by linking financial market theory to the practical aspects of day-to-day operations on a trading floor and offers a taxonomy of the current banking business, providing an in-depth analysis of the main market participants in the global markets ecosystem. Engaging the reader with case studies, anecdotes, and industry color, the book addresses the risks and opportunities of the global markets business in today's global financial markets both from a theoretical and from a practitioner's perspective and focuses on the most important fixed-income financial instruments from a pricing, risk-management, and client-marketing perspective.

Dieses Buch gibt Banken und anderen Finanzdienstleistern praxisnahe Hilfestellung bei der Digitalisierung von Arbeitsablaufen und Geschaftsstrukturen. Es spricht also insbesondere Praktiker an. Egal ob Geschaftsfuhrer, Vorstand oder Abteilungsleiter, ob "alter Hase" oder Quereinsteiger. Mithilfe der zahlreichen praxisnahen Profi-Tipps und konkreten Umsetzungsbeispiele wird der Praxistransfer erleichtert. Denn die Digitalisierung muss individuell auf die jeweiligen Unternehmensbedurfnisse zugeschnitten sein. Es gibt keine Loesung von der Stange. Vielmehr ist es das Zusammenspiel von Technologie, Unternehmenskultur und strategischer Zielrichtung, das erfolgsentscheidend ist. Wenn nur einer der zahlreichen Praxistipps umgesetzt werden kann, hat sich die Lekture des Buchs bereits gelohnt. Das Buch ist brandaktuell und kann sowohl insgesamt als auch selektiv, abschnittsweise gelesen werden. Es ist eine Mischung aus Fachbuch und praxisnahem Umsetzungsnachschlagewerk mit vielen To-do- und Check-Listen.

Dieses Buch gibt einen umfassenden UEberblick uber die komplexen und spezifischen finanziellen Fragestellungen, mit denen sich AErzte und Zahnarzte wahrend Ihrer Karriere konfrontiert sehen. Zudem unterstutzt es Berater diese Zielgruppe kompetent, nachhaltig und erfolgreich zu beraten. Es ist rund um die einzelnen Karriere- und Entwicklungsstufen eines Arztes aufgebaut. Durch erganzende Checklisten und Infoboxen kann das Buch immer wieder zur Hand genommen werden.

One of the chief objectives of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) is to promote financial stability within the United States, without the need for emergency governmental assistance to troubled firms. This book reviews the legal structure of the DFA's living will requirements; and examines some of the steps that these institutions might voluntarily take, which, in the view of the FRB and FDIC, would improve their resolvability, including strategic divestiture; legal reorganization; amendment of default trigger provisions of qualified financial contracts; and increasing their long-term, unsecured debt as a proportion of their assets.

The current global financial crisis, which began with the downturn of the U.S. sub-prime housing market in 2007, is testing the ability of the International Monetary Fund (IMF) in its role as the central international institution for oversight of the global monetary system. Though the IMF is unlikely to lend to the developed countries most affected by the crisis and must compete with other international financial institutions as a source of ideas and global macroeconomic policy co-ordination, the spill-over effects of the crisis on emerging and less-developed economies gives the IMF an opportunity to reassert its role in the international economy. This book discusses the potential roles that the IMF may have in helping to resolve the current global financial crisis.

Amidst the constant stream of overly technical and excitable books heralding a blockchain revolution that's destined to be more disruptive than the Internet, this book stands apart for its more nuanced take, focusing on the potential for these new technologies to change developing countries for the better. Chain Reaction divides the world into two: for some, blockchain seems a poor substitute for an efficient banking and regulatory system in which transactions are settled instantly and contracts are underpinned by solid institutions. For others, it will be truly life-changing - namely those living in countries where rule of law is weak, concepts of ownership are vague and, consequently, trust in institutions is in scarce supply.With blockchain, we are about to witness a leapfrogging - one that will bring the next billion emerging consumers into the formal economy by creating reliable institutions of contract, ownership and trust among people previously denied such luxuries. The authors humanize the technology by taking the reader on a global journey through a multitude of applications - from registering property to voting and delivering aid. In place of the usual abstract lessons in complex technology, this book is instead filled with lively anecdotes of places where trust is so weak that a crisp dollar bill sells at a premium to a better-used version. The book's goal is to create the first truly approachable, entirely comprehensible and enjoyable read on the wonders to come from blockchain.

The Operational Risk Handbook for Financial Companies is a groundbreaking new book. It seeks to apply for the first time a range of proven operational risk techniques from other industries and disciplines to the troubled territory of financial services. Operational risk expert Brian Barnier introduces a range of sophisticated, dependable and - crucially - approachable tools for risk evaluation, risk response and risk governance. He provides a more robust way of gaining a better picture of risks, shows how to build risk-return awareness into decision making, and how to fix (and not just report) risks. The practical importance of fully understanding and acting on risk to the business begins in the foreword on plan-B thinking, penned by Marshall Carter, chairman of the NYSE and deputy chairman of NYSE Euronext. The book is unique because: - It is not just about modeling and a few basic tools derived from regulatory requirements. Instead, it looks at management of risk to operations across industries, professional disciplines and history to help ops risk leaders become aware of the entire landscape of proven experience, not just their own conference room. - It is not just about compliance. Instead, it looks to operations as part of performance - managing risk to return for shareholders and other interests (e.g. guarantee funds). - It is not content to look at risk in stand-alone segments or silos; instead it takes a systems approach. - It is not just about ops risk leaders sharing war stories at a conference. Instead, it introduces a panel of six financial institution board members who get risk management and provide their perspectives throughout the book to encourage/demand more from ops risk to meet the needs of the institution in the world. - It is not a semi-random collection of tips and tricks. Instead, it is grounded in a risk-management process flow tailored to financial companies from a range of proven experience, providing tools to help at each step. Suitable for companies of all sizes, this book is of direct relevance and use to all business managers, practitioners, boards and senior executives. Key insights from and for each are built into every chapter, including unique contributions from board members of a range of companies. The Operational Risk Handbook for Financial Companies is an essential book for making better decisions at every level of a financial company; ones that measurably improve outcomes for boards, managers, employees and shareholders alike.

Loan sharks may conjure up an image of tough guys in fedoras looking to make a profit off of desperate people in dire financial straits, but in reality, lenders who advance small sums of cash at high interest rates until payday existed long before organized crime entered the trade. Today the businesses that fill this niche in the credit market prefer the name 'payday lenders' rather than loan sharks, but most large cities are still a hotbed of usurious lending, and the landscapes are dotted with their inviting and brightly colored storefronts. Despite their more respectable name, these predatory lenders have endured through regulation, prohibition, and the rise and fall of the mob since the late 1800s. In this intriguing and accessible book, Mayer aptly assesses the consequences of high-interest lending--both for the people who borrow at such steep prices and for society as a whole. He argues that although some consumers gain from borrowing at high rates, payday lending in its modern form consistently traps many of the wage earners who pawn their postdated checks, leaving them worse off than they were before. Because payday lending regulations vary widely throughout the country, Mayer chose to focus his story on Chicago, a city that serves as a fine representative of the legacy of loan sharking. "Quick Cash "will engage policy analysts, economists, and regional historians, as wells as general readers interested in the fascinating story behind these unscrupulous lending operations that feed off America's current tough economic times.

Tatjana Viktorovna Nikitina gibt einen konzentrierten UEberblick uber die Aufgaben der Russischen Zentralbank und die Aktivitaten der Geschaftsbanken im umfassendsten Transformationsprozess Russlands nach der Revolution 1917. Der russischen Regierung kommt die historische Aufgabe zu, Institutionen wie die russische Zentralbank so mit gesetzlichen Regelungen auszustatten, dass die im Wettbewerb stehenden Geschaftsbanken als effektive Institutionen fur Stabilitat, Wachstum und gerechte Verteilung in Russland fungieren. Die Autorin schliesst eine Lucke im Wissen um den russischen Finanzsektor. Fundiertes Wissen um die Herausforderungen in Russland bereitet aber die Grundlage fur geschaftliche Kooperationen. Es baut Vorurteile ab und warnt vor illusionaren Vorstellungen. Insofern ist dieses essential auch ein Anstoss zur Zusammenarbeit, in der Generierung von besserem Wissen, der Wissensvermittlung und des Transfers in die Praxis. Die AutorinProf. Dr. Tatjana Nikitina ist Professorin an der Saint-Petersburg State University of Economics, Russische Foederation. Sie ist dort ferner Direktorin des Russian-German Centre und International Centre for Financial Market Research.

The shocking fall of Bear Stearns in March 2008 set off a wave of global financial turmoil that continues to ripple. How could one of the oldest, most resilient firms on Wall Street go so far astray that it had to be sold at a fire sale price? How could the guys who ran Bear so aggressively miscalculate so completely?
In this vivid and dramatic narrative, Kate Kelly takes us inside Bearas walls during its final, frenzied 72 hours as an independent firm. Expanding with fresh detail from her acclaimed front- page series in "The Wall Street Journal," she captures every sight, sound, and smell of those three unbelievable days.
For decades, Bear had proudly recruited aP.S.Dsaa employees who were poor, smart, and had a deep desire to become rich. An elite family or Ivy League diploma didnat matter. Were you willing to do almost anything to make money for the firm? Were you tough enough to be a street fighter?
Bearas leaders were arrogant and didnat play nice. But their style had made them a fortune, and had helped Bear survive every crisis from the Great Depression to the dotcom bubble.
Yet as the subprime mortgage crisis began to brew, the firmas key executives descended into civil war. Kelly reveals fresh, never-before-told details about the moves that led to that brutal final weekend.
With a style as riveting as it is enlightening, "Street Fighters" is the definitive account of a once-great firmas demise, and the human folly that led to the worst financial crisis since the 1930s.

Internal investigations can be undertaken by a company or firm as a precursor to anticipated regulatory action, or for many other reasons. This title explains what a good regulatory investigation looks like whilst guiding investigators through the myriad of issues that can arise. It also dismantles many of the preconceptions and myths which have grown up around investigations in the post-financial crisis environment. Investigations are part of the 'business as usual' lifecycle for regulated firms. But there is no regulatory blueprint for what is accepted practice or accepted standards. This puts firms at a disadvantage with their regulators. Providing expert guidance on every step of a regulatory investigation including who should carry out the investigation, the scoping and planning, the interviewing and witness handling, how best to cooperate with the authorities, employee conduct and performance investigations, investigating senior staff, press, PR and Corporate Comms and litigation risks A Guide to Conducting Internal Investigations redresses the balance and provides a much needed blueprint for firms who find themselves in this position. This is a new practical resource for all firms and individuals that may find themselves the subject of, or be asked to assist in, a regulatory investigation or enforcement action.

Dieses Buch leistet einen wertvollen Beitrag zur Diskussion uber eine mehr als fruher nachhaltige Vergutung von (Bank)Vorstanden und zwar aus Share- wie Stakeholdersicht. Ausgehend von einer theoretischen Betrachtung (Corporate Governance, Rechtslage und angewandte Vergutungssysteme, Nachhaltigkeit und Kriterien, wird mittels einer Befragung unter (Geno)Bankaufsichtsraten (sowie auch Privatbanken und Sparkassen) ein UEberblick uber die jetzige Form der Vorstandsvergutung erheben. Darauf basierend werden Kriterien und Kennzahlen einer nachhaltigen Vergutung entworfen und begrundet. Der Autor unterbreitet sodann mit Hilfe der Balanced-Scorecard-Methode einen Vorschlag zur Integration der Nachhaltigkeitskriterien in die Vorstandsvergutung.

A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit from the total taxes they owe. This book explores some of the different tax credits that are currently available including credits for child and dependent care, adoption benefits, energy and housing credits, and income and work credits. Chapter 1 provides an overview of the child tax credit under current law, including temporary changes made by the 2017 tax revision There are two tax provisions that subsidize the child and dependent care expenses of working parents: the child and dependent care tax credit (CDCTC) and the exclusion for employer-sponsored child and dependent care. Chapter 2 provides a general overview of these two tax benefits, focusing on eligibility requirements and benefit calculation. Chapter 3 first briefly summarizes key components of the CDCTC, including reviewing eligibility requirements and how the credit is calculated. It then provides estimates of selected characteristics of familiessuch as income, number of children, marital status, and child care expensesthat claim the credit and, where appropriate, contrasts them with families that do not claim the credit. Chapter 4 focuses on federal adoption tax benefits, which consist of an adoption tax credit and an income tax exclusion for employer-provided adoption assistance. Chapter 5 explores one policy option for promoting residential energy efficiency: tax credits. It begins by providing an overview of the current residential energy-efficiency tax credits. It then goes on to provide an economic rationale for residential energy-efficiency tax incentives, introducing the concept of market failures and market barriers which may lead to suboptimal or economically inefficient investment in energy-efficiency technologies. Chapter 6 provides a brief overview of the renewable electricity PTC. The first section describes the credit. The second section provides a legislative history. The third section presents data on PTC claims and discusses the revenue consequences of the credit. The fourth section briefly considers some of the economic and policy considerations related to the credit. The chapter concludes by briefly noting policy options related to the PTC. The low-income housing tax credit (LIHTC) program is one of the federal governments primary policy tools for encouraging the development and rehabilitation of affordable rental housing. As discussed in chapter 7, these nonrefundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities. Chapter 8 provides both an in-depth description of The American Opportunity Tax Credit (AOTC) and an analysis of its economic impact. This chapter is organized to first provide an overview of the AOTC, followed by a legislative history that highlights the evolution of education tax credits from proposals in the 1960s through the recent permanent extension of the AOTC at the end of 2015. This chapter then analyzes the credit by looking at who claims the credit, the effect education tax credits have on increasing attendance at higher education institutions, and administrative issues with the AOTC. Finally, this chapter concludes with a brief overview of various policy options. Chapter 9 provides a general overview of the earned income tax credit (EITC). The chapter then summarizes the key legislative changes to the credit and provides analysis of some of the congressional intentions behind these changes. Chapter 10 looks at the Work Opportunity Tax Credit (WOTC). The WOTC is a provision of the Internal Revenue Code that allows employers that hire individuals with certain personal characteristics, including veterans, recipients of certain public benefits, or other specified populations, to claim a tax credit equal to a portion of the wages paid to those individuals.

Emergent innovative financial technologies are profoundly changing the way in which we spend, move and manage our money, unlike ever before, and traditional retail banks are facing stiff competition. The global financial crisis in 2007-2009 led to large losses, and even the collapse of a significant number of established banks shaking the trust of financial customers worldwide. The Digital Banking Revolution is an insightful look at how financial technology and the rapid rise of financial technology companies have brought welcome changes offering flexibility to the banking industry. The book offers a unique perspective on the consumerization of retail banking services. It delves into the many changes that financial innovations have brought about in banking, the main financial disruptors, the new era of "banking on the go," and financial innovations from countries around the world before concluding with a discussion on the future of banking including optimizing structures, new strategies for business outcomes, and human resources in the digital era.

Are you fully prepared for the implementation of the Senior Managers and Certification Regime across financial services firms and the related regulatory scrutiny on conduct and accountability? The 2008 financial crisis sparked major changes in global financial services regulation with attention and resources focused on the behaviour of firms and senior individuals and how they conduct their business. Regulatory reforms have been designed and implemented globally to address accountability and conduct in financial services. In the UK this has resulted in the Senior Managers and Certification Regime (SM&CR) being implemented across all FSMA-regulated firms. Conduct and Accountability in Financial Services: A Practical Guide provides comprehensive and expert guidance on how best to implement and comply with the SM&CR. In addition to acting as a guide to rule book requirements and regulatory expectations, it provides an in-depth look at the implications of the global focus on culture and conduct risk. A must-read text for all staff in UK financial services firms, professional associations, industry bodies, regulators, academics and advisers to financial services organisations, it covers: The context and regulatory basis for SM&CR including an overview of the development and roll-out of the regime Analysis of key changes from the previous 'approved person' approach Practical considerations for HR, internal audit and non-executive directors The increasing role of culture and conduct risk A practical overview of enforcement, penalties and learning lessons from enforcement actions Overarching principles of how to manage personal regulatory risk Regulatory relationship management The impact of technology An overview of related global developments Appendices with timeline, bibliography and a selection of other useful sources for senior managers Conduct and Accountability in Financial Services: A Practical Guide is on the syllabus reading list for the Regulation and Compliance exam offered by the Chartered Institute of Securities and Investments.

In recent years, the digitalisation of retail financial services - retail payments, current/savings accounts, consumer/housing credit, car insurance, property insurance and health insurance - has accelerated significantly. While policy-makers are gradually creating the necessary conditions to strengthen this digital transformation, there remain numerous policy issues and unanswered questions to resolve. Against this background, CEPS-ECRI formed a Task Force to explore four specific core questions: *What type of level playing field is needed to ensure a successful transitions to the digital transformation? *What are the opportunities and risks related to big (alternative) data and increasingly sophisticated algorithms? *What kind of regulatory framework is the most appropriate for pre-contractual information duties in a digital era? *How can the regulatory framework for digital authentication be improved? This report presents the findings of the Task Force, based on discussions among the members, led by the Chairman Kim Vindberg-Larsen, a FinTech entrepreneur. These findings are substantiated and elaborated via in-depth research carried out by Sylvain Bouyon, CEPS-ECRI Research Fellow.