The arrival of big data era has brought new opportunities and challenges to the development of various industries in China.The explosive growth of commercial bank data has brought great pressure on internal audit.The ...The arrival of big data era has brought new opportunities and challenges to the development of various industries in China.The explosive growth of commercial bank data has brought great pressure on internal audit.The key audit of key products limited to key business areas can no longer meet the needs.It is difficult to find abnormal and exceptional risks only by sampling analysis and static analysis.Exploring the organic integration and business processing methods between big data and bank internal audit,Internal audit work can protect the stable and sustainable development of banks under the new situation.Therefore,based on fuzzy set theory,this paper determines the membership degree of audit data through membership function,and judges the risk level of audit data,and builds a risk level evaluation system.The main features of this paper are as follows.First,it analyzes the necessity of transformation of the bank auditing in the big data environment.The second is to combine the determination of the membership function in the fuzzy set theory with the bank audit analysis,and use the model to calculate the corresponding parameters,thus establishing a risk level assessment system.The third is to propose audit risk assessment recommendations,hoping to help bank audit risk management in the big data environment.There are some shortcomings in this paper.First,the amount of data acquired is not large enough.Second,due to the lack of author’knowledge,there are still some deficiencies in the analysis of audit risk of commercial banks.展开更多
After reviewing the bad news and corruptions of the higher executives in commercial banks recent years, the article first analyzes the characteristics of all these things, and use game theory to analyzes the actions b...After reviewing the bad news and corruptions of the higher executives in commercial banks recent years, the article first analyzes the characteristics of all these things, and use game theory to analyzes the actions between the higher executives and administrative sections and further construes with cost and benefit utility model, and finally put up some countermeasures.展开更多
Existing literature related to efficiency measurement and productivity analysis of banks is swarmed with the input-output classification of banks based on using accounting conventions. This usage varies from paper to ...Existing literature related to efficiency measurement and productivity analysis of banks is swarmed with the input-output classification of banks based on using accounting conventions. This usage varies from paper to paper. No two research papers are in consensus as to which classification should be used. This present work, however, uses the input-output classification of banks based on Barnett’s generalized model of production for financial intermediaries originally proposed in Barnett (1987) [1]. This model is based on economic theory definitions of inputs and outputs of a bank. Using this classification, the paper applies Data Envelopment Analysis to US banks during 2006-2016. This new methodology seeks to resolve and fix the issue of lack of consensus regarding which inputs and outputs to use for productivity analysis of banks. Furthermore, a standardized way of measuring productivity across banks is developed which can be used all over the world. This is accomplished by using the Malmquist Index of Productivity which is a tool used under Data Envelopment Analysis. The paper further establishes the connection of this tool with Barnett’s generalized model of production for financial intermediaries. Results indicate very high efficiency levels for US banks even post financial crisis. The reason for this performance is the cleansing of the financial system as unhealthy banks either left the scene or were merged. Better risk management, cost management and efficiency of structure of funding are some other reasons for high efficiency.展开更多
The finance supply chain has always been a different supply chain compared to product supply chain being a service supply chain.Open Banking(OB)is one of the most important milestones since the beginning of financial ...The finance supply chain has always been a different supply chain compared to product supply chain being a service supply chain.Open Banking(OB)is one of the most important milestones since the beginning of financial technology innovation and service supply chain.As these are activities provided by traditional banks,non-bank financial institutions also provide financial service with access to consumer banking,transactional and other financial data to develop financial applications and services tailored to their customers.The development of financial technology,“Open banking”,promotes financial services to begin this transformation.However,evaluating and selecting open banking business partners from multiple perspectives for banks are underexplored.Thus,the authors in this research proposed a hybrid multicriteria decision-making model which includes a Spherical Fuzzy Analytical Hierarchy Process(SF-AHP)model and a Multi-Attributive Ideal-Real Comparative Analysis(MAIRCA)model with supports from seasoned domain experts.The contribution of this research is a proposition of a fuzzy decision model for evaluating and selecting open banking business partners.The model successfully determined a suitable open bank provider in order to assist decision makers decide objectively.展开更多
Introduction:Since 2015 is the year of FinTech in Taiwan,it is worth investigating the challenges that emerged when banks were encouraged to invest in FinTech companies for collaboration.This study aims to identify th...Introduction:Since 2015 is the year of FinTech in Taiwan,it is worth investigating the challenges that emerged when banks were encouraged to invest in FinTech companies for collaboration.This study aims to identify the strategic considerations in the process of searching for FinTech investment targets.Case description:This study used a case study investigation of a top-5 bank in Taiwan.The major data sources include the meeting notes of the FinTech investment task force and interviews with the team members.Co-opetition theory was adopted as the theoretical framework and interview questions were derived from the PARTS strategies in co-petition theory.The results relate to:(1)the strategic goals of FinTech investment,(2)the added value from FinTech companies,(3)criteria in selecting candidates in the same FinTech area,(4)choosing to work as either a cooperator or a competitor,and(5)barriers from policies and regulations.Discussion and evaluation:This study has several findings:(1)regulations and policies shape FinTech’s development;(2)banks,technology companies,and customers are not“FinTech ready;”(3)Compare top-down with bottom up strategies;(4)banks and FinTech companies have complex relationships;(5)it is unlikely that Taiwan will produce FinTech disruptors in the near future.Conclusion:The findings and discussion can benefit researchers and administrators in finance-related industries.More studies are desired to observe long-term development in terms of how companies collaborate or compete in specific FinTech areas.展开更多
Integration and management of the flexibility of Demand Side Resources (DSR) in today’s energy systems plays a significant role in building up a sustainable society. However, the challenges of understanding, predicat...Integration and management of the flexibility of Demand Side Resources (DSR) in today’s energy systems plays a significant role in building up a sustainable society. However, the challenges of understanding, predicating and handling the uncertainties associated this subject to a great extent hamper its development. In this paper, an analytical framework based on a multi-portfolio setup in presence of a deregulated power market is proposed to address such challenges by adopting the thinking in modern portfolio theory (MPT). A Numerical example that targets on analyzing the risk and return for various flexibility pricing strategies are presented to illustrate some features of the framework.展开更多
With the advent of Internet financial innovation,many commercial banks quietly have started to enter into the Ecommercial in order to prevent oligarchs from eroding financial market.From the perspective of industrial ...With the advent of Internet financial innovation,many commercial banks quietly have started to enter into the Ecommercial in order to prevent oligarchs from eroding financial market.From the perspective of industrial division,this paper reveals the nature of a phenomenon that E-commercial enterprises and banks have stepped into each other's field,which E-commerce of banks can give full play to network effects.Then it uses game theory to analyze the motions of banks to involve into E-commerce and the short-term competitive equilibrium of large incumbent Ecommercial enterprises as well.For individual rationality,the dominant strategy of banks and E-commercial enterprises is(enter,counterattack).Considering network externalities,it constructs a competing model on banks and incumbent E-commercial enterprises and simulates competitive trends and balanced results of their behaviors,which illustrates that banks can obtain network effect after choosing E-commerce strategy.展开更多
基金This research work is implemented at the 2011 Collaborative Innovation Center for Development and Utilization of Finance and Economics Big Data Property,Universities of Hunan ProvinceHunan Provincial Key Laboratory of Big Data Science and Technology,Finance and Economics+3 种基金Key Laboratory of Information Technology and Security,Hunan Provincial Higher Education.This research is funded by the Open Foundation for the University Innovation Platform in the Hunan Province,grant number 18K103Open Project(Grant Nos.20181901CRP03,20181901CRP04,20181901CRP05)Hunan Provincial Education Science 13th Five-Year Plan(Grant No.XJK016BXX001)Social Science Foundation of Hunan Province(Grant No.17YBA049).
文摘The arrival of big data era has brought new opportunities and challenges to the development of various industries in China.The explosive growth of commercial bank data has brought great pressure on internal audit.The key audit of key products limited to key business areas can no longer meet the needs.It is difficult to find abnormal and exceptional risks only by sampling analysis and static analysis.Exploring the organic integration and business processing methods between big data and bank internal audit,Internal audit work can protect the stable and sustainable development of banks under the new situation.Therefore,based on fuzzy set theory,this paper determines the membership degree of audit data through membership function,and judges the risk level of audit data,and builds a risk level evaluation system.The main features of this paper are as follows.First,it analyzes the necessity of transformation of the bank auditing in the big data environment.The second is to combine the determination of the membership function in the fuzzy set theory with the bank audit analysis,and use the model to calculate the corresponding parameters,thus establishing a risk level assessment system.The third is to propose audit risk assessment recommendations,hoping to help bank audit risk management in the big data environment.There are some shortcomings in this paper.First,the amount of data acquired is not large enough.Second,due to the lack of author’knowledge,there are still some deficiencies in the analysis of audit risk of commercial banks.
文摘After reviewing the bad news and corruptions of the higher executives in commercial banks recent years, the article first analyzes the characteristics of all these things, and use game theory to analyzes the actions between the higher executives and administrative sections and further construes with cost and benefit utility model, and finally put up some countermeasures.
文摘Existing literature related to efficiency measurement and productivity analysis of banks is swarmed with the input-output classification of banks based on using accounting conventions. This usage varies from paper to paper. No two research papers are in consensus as to which classification should be used. This present work, however, uses the input-output classification of banks based on Barnett’s generalized model of production for financial intermediaries originally proposed in Barnett (1987) [1]. This model is based on economic theory definitions of inputs and outputs of a bank. Using this classification, the paper applies Data Envelopment Analysis to US banks during 2006-2016. This new methodology seeks to resolve and fix the issue of lack of consensus regarding which inputs and outputs to use for productivity analysis of banks. Furthermore, a standardized way of measuring productivity across banks is developed which can be used all over the world. This is accomplished by using the Malmquist Index of Productivity which is a tool used under Data Envelopment Analysis. The paper further establishes the connection of this tool with Barnett’s generalized model of production for financial intermediaries. Results indicate very high efficiency levels for US banks even post financial crisis. The reason for this performance is the cleansing of the financial system as unhealthy banks either left the scene or were merged. Better risk management, cost management and efficiency of structure of funding are some other reasons for high efficiency.
文摘The finance supply chain has always been a different supply chain compared to product supply chain being a service supply chain.Open Banking(OB)is one of the most important milestones since the beginning of financial technology innovation and service supply chain.As these are activities provided by traditional banks,non-bank financial institutions also provide financial service with access to consumer banking,transactional and other financial data to develop financial applications and services tailored to their customers.The development of financial technology,“Open banking”,promotes financial services to begin this transformation.However,evaluating and selecting open banking business partners from multiple perspectives for banks are underexplored.Thus,the authors in this research proposed a hybrid multicriteria decision-making model which includes a Spherical Fuzzy Analytical Hierarchy Process(SF-AHP)model and a Multi-Attributive Ideal-Real Comparative Analysis(MAIRCA)model with supports from seasoned domain experts.The contribution of this research is a proposition of a fuzzy decision model for evaluating and selecting open banking business partners.The model successfully determined a suitable open bank provider in order to assist decision makers decide objectively.
文摘Introduction:Since 2015 is the year of FinTech in Taiwan,it is worth investigating the challenges that emerged when banks were encouraged to invest in FinTech companies for collaboration.This study aims to identify the strategic considerations in the process of searching for FinTech investment targets.Case description:This study used a case study investigation of a top-5 bank in Taiwan.The major data sources include the meeting notes of the FinTech investment task force and interviews with the team members.Co-opetition theory was adopted as the theoretical framework and interview questions were derived from the PARTS strategies in co-petition theory.The results relate to:(1)the strategic goals of FinTech investment,(2)the added value from FinTech companies,(3)criteria in selecting candidates in the same FinTech area,(4)choosing to work as either a cooperator or a competitor,and(5)barriers from policies and regulations.Discussion and evaluation:This study has several findings:(1)regulations and policies shape FinTech’s development;(2)banks,technology companies,and customers are not“FinTech ready;”(3)Compare top-down with bottom up strategies;(4)banks and FinTech companies have complex relationships;(5)it is unlikely that Taiwan will produce FinTech disruptors in the near future.Conclusion:The findings and discussion can benefit researchers and administrators in finance-related industries.More studies are desired to observe long-term development in terms of how companies collaborate or compete in specific FinTech areas.
文摘Integration and management of the flexibility of Demand Side Resources (DSR) in today’s energy systems plays a significant role in building up a sustainable society. However, the challenges of understanding, predicating and handling the uncertainties associated this subject to a great extent hamper its development. In this paper, an analytical framework based on a multi-portfolio setup in presence of a deregulated power market is proposed to address such challenges by adopting the thinking in modern portfolio theory (MPT). A Numerical example that targets on analyzing the risk and return for various flexibility pricing strategies are presented to illustrate some features of the framework.
基金National Natural Science Foundation of China(No.71501094)National Social Science Foundation of China(No.15BJY160)
文摘With the advent of Internet financial innovation,many commercial banks quietly have started to enter into the Ecommercial in order to prevent oligarchs from eroding financial market.From the perspective of industrial division,this paper reveals the nature of a phenomenon that E-commercial enterprises and banks have stepped into each other's field,which E-commerce of banks can give full play to network effects.Then it uses game theory to analyze the motions of banks to involve into E-commerce and the short-term competitive equilibrium of large incumbent Ecommercial enterprises as well.For individual rationality,the dominant strategy of banks and E-commercial enterprises is(enter,counterattack).Considering network externalities,it constructs a competing model on banks and incumbent E-commercial enterprises and simulates competitive trends and balanced results of their behaviors,which illustrates that banks can obtain network effect after choosing E-commerce strategy.
