Search results for "Financial transaction"
showing 9 items of 9 documents
On Some Misconceptions Concerning Digital Banking and Alternative Delivery Channels
2016
A great deal of conceptual confusion surrounds the notions of digital banking and innovative alternative delivery channels that support banking and other financial transactions globally. The authors contend that the concepts of digital banking and associated delivery channels are ambiguous and restrictive; their usability has been undermined and their purpose and objective have, to a large extent, been misunderstood. Against this backdrop, the authors offer an inclusive definition of digital banking and delivery channels and provide logical explanations of these terms that can benefit scholars, the telecommunication sector, the banking industry, policy makers, and service providers (in term…
The Paradox of Effectiveness: Growth, Institutionalisation and Evaluation of Anti-Mafia Policies in Italy
2004
This contribution focuses on Italian policies that have been envisaged and implemented to combat, prevent or contain mafia-type organised crime.1 After having shown that a proper analysis of anti-mafia policies is strangely lacking (section 2), policies directly addressing the mafia are dealt with, hinting at the norms concerning specific criminal offences, vast investigatory powers and penetrating preventive measures, financial transactions and money laundering, collaborators of justice, the peculiarity of mafia trials, judicial attitudes and sanctions (section 3.1). Section 3.2 presents the wide variety of other policies addressing civil society and public administrations, and only indire…
An Example: Money
1995
The institution of money, like that of language, or that of the State, has often been seen to be based on some kind of contractual agreement. Aristotle describes the nature of money as follows: Money has become by convention a sort of representative of demand; and that is why it has the name ‘money’ (nomisma) because it exists not by nature but by law (nomos) and it is in our power to change it and make it useless. (Ethica Nicomachea, V.5.II33a) The word nomos is ambiguous: in another translation of Ethica it has been translated as “custom”. This ambiguity reflects a theoretical problem in the classical social theory: money has been seen either as a result of an act of will of the legislato…
Towards Responsible AI for Financial Transactions
2020
Author's accepted manuscript. © 2020 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works. The application of AI in finance is increasingly dependent on the principles of responsible AI. These principles-explainability, fairness, privacy, accountability, transparency and soundness form the basis for trust in future AI systems. In this empirical study, we address the first p…
Accounting Analysis of Economic Policy of Spain (2012)
2014
The analysis of economic policy is made through a new methodology using the information provided by businesses to the Bank of Spain. The financial statements are the result of economic and financial transactions in a year and show a behavior that is likely to be measured by applying the Edgeworth’s box for analysis. This means that it is possible to measure the response of firms against market disruptions through an accounting interpretation of the information contained in the financial statements. The indicators obtained through this methodology measure a position taken in the Edgeworth’s box. Consequently, the observations obtained are random and therefore may explain the evolution of the…
Calibration of optimal execution of financial transactions in the presence of transient market impact
2012
Trading large volumes of a financial asset in order driven markets requires the use of algorithmic execution dividing the volume in many transactions in order to minimize costs due to market impact. A proper design of an optimal execution strategy strongly depends on a careful modeling of market impact, i.e. how the price reacts to trades. In this paper we consider a recently introduced market impact model (Bouchaud et al., 2004), which has the property of describing both the volume and the temporal dependence of price change due to trading. We show how this model can be used to describe price impact also in aggregated trade time or in real time. We then solve analytically and calibrate wit…
Evaluation of Banking Digitization Policy of Romanian Commercial Banks
2018
Nowadays, even in Romania, we faced with process of digitalization of financial system, especially of banking system. Natural person—banks relationships are more and more distant as location, but more and faster as financial transaction results, because of banking digitalization process based on performance of internet era. The paper’s aims are to answer to questions like: Are Romanian past, actual and future generations prepared to be fully integrated in banking digitalization process? Do Romanian natural person understands the usefulness and benefits of digital banking services/? Or, how benefits of Romanian commercial banks are changing? The methodological support includes analyzing empi…
Examining key drivers of consumer experience with (non-financial) digital services : An exploratory study
2020
Recent advancements in the field of mobile information systems have transformed the consumer lifestyle as well as have changed the digital service landscape globally. This exploratory study identifies and describe key marketing drivers of consumer experience with non-financial transactions available on mobile banking apps. Data were gathered using semi-structured in-depth interviews from 12 respondents in Finland during March and April 2019. The qualitative analysis of the interview transcripts revealed three emerging themes i.e. the mobile banking app experiences and sustained usage of mobile banking apps are largely affected by consumers’ level of knowledge (consumer awareness), usefulnes…
LEGAL CONSIDERATIONS REGARDING THE INTRODUCTION AND IMPLEMENT OF THE PROPOSED `FINANCIAL TRANSACTION TAX` ON PENSION FUNDS. IMPACT ON TRANSACTION COS…
2012
In economies in which pension obligations are substantial, it is important that there is a high degree of trust in the financial reporting of pensions by employers and by pension plans. The objective of this paper is to assess legal considerations regarding the introduction and implement of financial transaction tax mechanisms in private pension system. In line with this objective, an understanding of causes, implications, solutions for pensions is essential to being able to efficiently and effectively create a secure fiscal environment.