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The future of cashless and digital banking in Austria
No full textFinanzorganisationen nutzen die Möglichkeiten des digitalen Bankings immer häufiger, um neue Geschäftsfelder zu erschließen. Das Managen der persönlichen Finanzen, sowie die Methoden des bargeldlosen Bezahlens, sind deutlich schneller, vertrauenswürdiger und leichter erreichbar als traditionelle Banking-Methoden. Abgesehen vom rasanten Anstieg und einer immer größer werdenden Popularität des digitalen Bankings in Skandinavien, hinken zahlreiche europäische Staaten im Bereich "digitale Innovationen in Finanzinstituten" hinterher. Auch Österreich zählt zu den Ländern die, in Sachen "Digitalisierung des Bankensektors", weniger entwickelt sind. Diese Arbeit beleuchtet die österreichische Bankenindustrie, und evaluiert deren Digitalisierungspotenzial und die Fähigkeit einer möglichen Umstellung, sowie eine Analyse der Anreize und Barrieren. Insgesamt wurden sechs Interviews mit Experten durchgeführt, unter ihnen Angestellte österreichischer Banken und Finanzberatungsorganisationen. Die Resultate demonstrieren, dass die österreichischen Kultur und Gesellschaft überaus konservativ geprägt ist und daher einen deutlich negativen Effekt auf die Digitalisierung der Bankenindustrie hat. Widerstand der Industrien, verschiedenster Organisationen und der Verbraucher verhindern entsprechende Veränderungen. Weitere wichtige Hindernisse auf dem Weg zur Digitalisierung sind unflexible IT-Systeme und kostspielige Erfüllung von EU-Vorgaben. Dennoch, sobald das digitale Banking komfortabler erscheint, als das traditionelle Banking aktuell ist, werden die österreichischen Kunden vermehrt zu neuen Bankingformen wechseln.Digital banking is increasingly being adopted by financial organizations as a new way of doing business. Managing personal finances online, as well as paying with cashless methods is significantly faster, more convenient and accessible than by traditional banking methods. Despite the growth of digital banking in Scandinavia, many of the European countries still lag behind in digital innovation of financial institutions. Austria is also among the less developed European countries regarding digitalization of banking sector. This paper analyzes Austrian banking industry, evaluates its digitalization potential and ability of transformation, including an investigation of its drivers and barriers. In total six expert interviews were conducted that included professionals from Austrian banks and financial advisory organizations. Findings revealed that high degree of conservatism of the Austrian culture has a significant negative impact on digitalization of banking industry by increasing industrial, organizational and consumers’ resistance to change. Moreover, further important obstacles of digitalization included inflexible legacy IT systems and costly compliance with EU regulations. Nevertheless, as soon as digital banking will become more convenient than traditional banking currently is, Austrian consumers will eagerly change to new banking formats.Masterarbeit Wien, Fachhochschule des BFI Wien 201
Die Bedeutung der Nachhaltigkeit im Einkaufsprozess von Logistikdienstleistungen
No full textWien, Fachhochschule des BFI Wien, Masterarb., 201
Die Markenbildung von FinTechs via Social-Media
No full textThe increased expectations of consumers, the growing risk of capital financing and the low market entry barriers are contributing to the emergance of FinTechs. Moreover, traditional companies in the finance sector leave a gap of unmet customer needs, which FinTechs are trying to close. In addition, it is difficult for companies to differentiate themselves from their competitors and to tie the customers emotionally to their brand. Branding is therefore a critical activity and essential for the survival and success of FinTechs as it facilitates the search and retention of customers as well as building a preferred reputation. Generally speaking, branding is a process that helps to build up public brand awareness and customer loyalty. Since FinTechs have usually limited financial and human resources, social-media is a suitable, additional tool to create a strong brand.
This thesis examines how FinTechs build their brand through social-media. With the aid of an interview guideline, created based on the literature research, five problemcentered interviews were conducted with experts that have already gained experience in the branding of FinTechs. The interviews were subsequently transcripted and formed the basis for the analysis according to Mayring. Based on the qualitative research of this thesis, recommendations for technology-driven start-ups of the financial technology sector were deviated.
Neither the available literature nor the empirical investigation was sufficient to derive a uniform branding process via social-media for FinTechs. Social-media allows consumers to take a significant impact on the perception of the brand by using the Web 2.0. The research reveals that the utilization of social-networks, especially Facebook and micro-blogs such as Twitter, are highly relevant for successful FinTechs-branding practices. Facebook is a network primarily dedicated to messages between family, friends and 2nd level contacts whereby it is not regarded as classic advertising channel. Nevertheless, the use of proper content management is highly relevant for successful FinTech branding practices. It is advisable to focus on only one or two channels because of the considerable time consumption required for content creation and maintenance of the social-media profile.Wien, Fachhochschule des BFI Wien, Masterarb., 201
Portfolio management and tactical asset allocation based on Value-at-Risk limits
No full textThe motivation for this master thesis is to analyse the effects in the long-term portfolio performance and the attainable risk-return profile of an investor by implementing a rule-based Tactical Asset Allocation Strategy (TAA) that incorporates Valueat-Risk (VaR) as limits that trigger portfolio recalibrations when breached.
This work differentiates itself from existing TAAs by incorporating the VaR risk metric as a threshold for portfolio performance. Furthermore, in order to provide a wider evaluation spectrum, the performance of calibrated portfolios - which will be constructed based on Markowitz’s Modern Portfolio Theory - will be analysed based not only on the achieved returns and volatility levels but also based on risk-adjusted measures and ratios.
The findings of this thesis indicate that applying the developed allocation strategies does indeed improve the long-term portfolio’s returns, additionally, the risk-return profile based on risk-adjusted measures is also improved. Nevertheless, in most cases the rule-based strategies do not present an improvement over simple periodical portfolio recalibration strategies. However, it is important to note that in case of opting for a periodical recalibration process, the number of times the portfolio weights will be reallocated must be determined ex-ante.Masterarbeit Wien, Fachhochschule des BFI Wien 201
CETA, TTIP und RCEP : eine Betrachtung von Handels- und Investitionsschutzabkommen aus der neoklassischen und der politökonomischen Perspektive
No full textThis academic paper analyses the Comprehensive Economic Trade Agreement (CETA), the Transatlantic Trade and Investment Partnership (TTIP) and the Regional Comprehensive Economic Partnership (RCEP) from neoclassical and political economic perspectives. The research question is: What are trade and investment protection agreements, their determinants and how can they be explained and assessed from neoclassical and political economic perspectives? The main theories to assess the mentioned trade agreements are in the neoclassical paradigm, namely the classical international trade theory from David Ricardo, the growth theory and the economic integration theory. The main theories used to explain and assess from a political economic view are the regulation theory, the world-system theory and the new constitutionalism. The main points of the mentioned paradigms are firstly explained, secondly the mentioned trade agreements themselves are explained and thirdly the relevant scientific findings of the neoclassical and political economy perspectives are applied to analyze the trade agreements. From a neoclassical point of view trade agreements are made to maintain growth and prosperity. From a political economic position there are also different factors to be taken into account like historical development of the global trade, the World Trade Organization and geopolitics. While neoclassical economics is focused rather on economic output, profit and wealth, the political economy is considering other determinants for multilateral trade and investment agreements.Wien, Fachhochschule des BFI Wien, Diplomarb., 201
Working paper series by the University of Applied Sciences bfi Vienna / Best Practice nachhaltige Standortentwicklung
No full textNicht nur Emerging Markets, auch OECD-Märkte sind beständig um die Anziehung von ausländischen Direktinvestitionen (ADI) bemüht. In den vergangenen Jahrzehnten kann hierbei eine ständige Weiterentwicklung in der Professionalisierung der Anwerbung von Investitionen beobachtet werden. Während in der ersten, frühen Phase Staaten in erster Linie passiv als Empfänger agierten und kaum aktiv Signale mit Bezug auf die eigene Attraktivität setzten, ist die zweite Phase durch die Etablierung von – in der Regel staatlichen – Investitionsagenturen, sogenannten Investment Promotion Agencies (IPA), gekennzeichnet. Deren Aufgabe besteht darin, den jeweiligen Investitionsstandort bestmöglich zu vermarkten, wobei die Zielsetzung in dieser zweiten Phase noch sehr unspezifisch die undifferenzierte Anwerbung von ADI zum Inhalt hatte. Ein zunehmende Differenzierung und Spezifizierung bezüglich des anzuwerbenden Kapitals charakterisiert die dritte Phase, in der nationale oder regionale Industrialisierungsstrategien ausgearbeitet werden und die IPA die Aufgabe übernehmen, diejenigen Investitionen zu bekommen, die einen größtmöglichen „fit“ mit der jeweiligen nationalen oder regionalen Strategie sicherstellen. Die jüngste Generation der IPA ist derzeit weltweit noch durchwegs nur sporadisch zu beobachten: Diese IPAs der vierten Phase berücksichtigen mehr oder weniger explizit Nachhaltigkeitskriterien in ihren Promotionsmaßnahmen.
Die Nachhaltigkeitskriterien beziehen sich auf ökonomische, soziale und umweltpolitische Nachhaltigkeit. Konkret wird aber hier nur sehr wenig Bezug auf die globalen/regionalen/nationalen Tools und Handlungsanleitungen zur Nachhaltigkeit genommen. Auch die österreichische IPA Austrian Business Agency orientiert sich nicht explizit an Nachhaltigkeitszielen, da dies bis dato kein Mandatsauftrag ist. Im Vordergrund steht, wie bei allen anderen regionalen Betriebsansiedlungsgesellschaften, die Maximierung der Ansiedlungsergebnisse.Magistratsabteilung 23, Wirtschaft, Arbeit und Statistik Call 15 Headquarter Standort Wie
Die Anforderungen der Generation Y an die Personalführung
No full textThe following thesis focuses on the human resource management and its future challenges with the generation Y, which includes people born from 1980 to 2000. Due to the globalization, new technical innovations and social changes in the society, the preferences and expectations of the employees to an employer are changing. Because of these changes and therefore changes in general preferences, companies face the challenge of 'how to lead the generation Y'. Furthermore, companies have to recognize that upcoming changes in demographics will soon lead to the state when the generation Y will be dominating the job market as older generations are retiring. Therefore, it will become essential to consider preferences of the young generation when setting up human resource management strategies, in order to be competetive at the 'War of Talents' and to become attractive to the generation Y. The goal of this thesis is to give an overview of the characteristics of the generation Y and their expectations to the employers. Furthermore, the thesis describes the various leadership theories and other human resource management areas, which are necessary to consider when leading employees. In addition to the literature analysis and in order to analyse the generational challenge companies are facing, a survey was conducted, which on the one hand analyses the preferred leadership style of the generation Y and on the other hand the expectations of them to the employer. The survey was prepared with the online tool 'LimeSurvey' and was sent to people, who are participants of generation Y, who have work experience and who are currently active students or have already completed their studies. The results of the survey were compared with the literature and used for answering the research questions.Wien, Fachhochschule des BFI Wien, Masterarb., 201
Auswirkungen des gesellschaftlichen Rollenbildes der Frau auf berufliche Frauenförderungsprojekte in Österreich
No full textA general outcome of this master thesis is, that stereotypes of women are persistent even in the 21st century. Moreover, these expectations of attitudes, especially how a woman should act and which duties she does have, are ascribed to her role. One of these roles describes women within their workplace as submissive, collegial and adaptable. This attribution negates the possibility for women to make use of “masculine” characteristics, like dominance, competitiveness and intelligence.
As a consequence, women face inherent discrimination with regard to recruitment and career development processes, as they are seen as a “deficient version of men”. However, the other assigned role to women, is the one at home. Herein, women are often seen as the only ones in charge of child care and household. The results of the extensive literature research provide the fact that flexible working time and part-time models are mostly used by women. In addition, the findings of the empirical study, the discourse analysis, support this theoretical thesis.
However, the paper offers additional findings regarding the effects of classic female role models on promotion programs of women and on problems of the work-lifebalance. On the one hand, the compatibility of family and professional career should be facilitated through a revaluation and extension of offered programs. This is to say, that part-time models are compatible with the performance of professional activities, like leadership tasks. Whereas, on the other hand all the surveyed representatives automatically concluded that women stay at home for parenting.
That the perception of a specific role of women has an influence on their career path-development, can be illustrated by the talent identification process of the presented women-mentoringprogram. Considering the fact, that it excludes all mothers, a major obstacle to their career path can be seen.
As a conclusion, the classification of female roles is still a current issue within the society, which has a significant impact on the creation of promotion programs of women and on the range of measures helping to reconcile occupational life and private life.Wien, Fachhochschule des BFI Wien, Masterarb., 201
Die City Logistik und die Wiener Kleintransporteure : Voraussetzungen und Rahmenbedingungen für den Aufbau einer City Logistik in Wien
No full textThe “Wiener Kleintransporteure” cover a comprehensive range of transport services. The members act in different business fields and using mixed vehicle sizes and vehicle bodies. These light commercial vehicles have a maximum permissible total weight of 3.5 tons.
The intention of these master thesis was to find out, if the “Wiener Kleintransporteure” are ready to build up an own city logistics. The aim of city logistics is to bundle incoming and outcoming traffic in the city. Consequently, a compression of tours and commodities are achieved. The first generation of city logistics operated only for a short period of time, whereas the second generation of city logistics are much successful. This is because the local community established legal framework for city logistics and granted advantages for the companies involved.
The empirical study showed a clear picture concerning city logistics. The “Wiener Kleintransporteure” do not want to build up an own city logistics. The reason is that high investment costs are needed. Moreover, know-how is missing to ensure an efficient operation. In the view of the interviewees city logistics is only favorable when it is operated and offered by the local community (Stadt Wien). Whether a city logistics can be implemented in Vienna depends on many influencing factors. First of all, political commitment must be present. Moreover, conditions
should be created that would justify a city logistics. Conditions, like a restriction on the traffic of goods for the city center or some districts. Furthermore, a restriction in time could also be the solution. It should be kept in mind that city logistics does not affect carriers, but also senders and recipients.Wien, Fachhochschule des BFI Wien, Masterarb., 201
Internal market risk models and the transition to Basel IV
No full textThe regulatory framework for market risk is about to receive an extensive overhaul which has been triggered by large scale losses during the most recent financial crisis. The Basel Committee, acting as the policy maker, initiated the so-called “Fundamental Review of the Trading Book” – a proposal for new regulations which are set to become effective in 2019. This new framework seeks to address the structural weaknesses that have been identified in the existing legislation and leave banks with the challenge to adapt their systems and processes, and to conform to all new requirements.
Since the first consultative paper was published expectations of surging market risk capital spread concerns about the viability of specific business models. This thesis takes an empirical look at the regulatory capital calculation according to the internal models approach – the preferred way of quantifying market risk charges for banks which hold a considerable portion of their business in the trading book – and finds that the new rules not necessarily lead to steep increases in required capital. Rather, the upcoming framework seems to factor in the risk of specific exposures more adequately than the current regulation.
Furthermore, the results suggest that the nature of the internal risk model, specifically its approach to deliver stressed figures, should be of utmost concern since different ways of calibration can lead to significant variations in the overall level of risk capital a bank needs to hold.Wien, Fachhochschule des BFI Wien, Masterarb., 201