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Does emotional intelligence contribute to quality of strategic decisions? The mediating role of open innovation
Purpose-The purpose of this research is to explore the direct relationship between the emotional intelligence of top management and the quality of strategic decisions they take for their companies. This relationship is further examined by the mediating role of open innovation in the context of intelligent information systems that can impact the way top managers take decisions. This research adopted a survey design as cross-sectional data were taken through questionnaires from top management of the UAE national banks. A final sample size of 213 questionnaires completed by managers was obtained and analyzed. As predicted, there was a strong, positive relationship between managers' emotional intelligence and the quality of their strategic decisions. Open innovation has revolutionized the way top managers of banks take decisions that are later transformed into policies. Decision-makers are required to possess the skill of decision-making by being vigilant of their surroundings. Hence, they have emotional intelligence and intelligent information systems (IIS) only enhances the trait. IIS is the glorified version of open innovation that further contributes to the decision-making process and the quality of decisions. This research is one of a kind as no one has explored these dimensions of emotional intelligence in the UAE.
Journal Article
Swiss National Bank: Is the recent loss a threat to monetary policy? A research note
The Swiss National Bank (SNB) has announced it will refrain from profit distribution in 2022 owing to the accumulation of a huge financial loss. In this paper we examine key determinants of the SNB's loss and shed light on its implications to monetary policy pursuit. In particular, we show that different accounting principles yield different results concerning the equity position of a central bank's balance sheet, yet not affecting the ability to run monetary policy.
Journal Article
The mortgage wars : inside Fannie Mae, big-money politics, and the collapse of the American dream
\"The former Fannie Mae CFO's inside look at the war between the financial giants and government regulators A provocative true-life thriller about the all-out fight for dominance of the mortgage industry--and how it nearly destroyed the global financial systemMany books have been written about the 2008 financial crisis, but they miss the biggest story of the meltdown: the battle between giant financial companies to dominate the $11 trillion mortgage market that almost destroyed the global financial system. For more than twenty years, until 2004, Timothy Howard was a senior executive at the best known of those companies, Fannie Mae, and he was in the middle of that fight.In The Franchise, Howard explains how seemingly unrelated developments in banking regulation, housing policy, Wall Street financial innovation, and political lobbying all combined to wreak havoc on the American housing market and the world economy.Timothy Howard was Vice Chairman and Chief Financial Officer of Fannie Mae until 2004. Prior to this, he was senior financial economist at Wells Fargo Bank in San Francisco\"-- Provided by publisher.
Book
Evaluating the effectiveness of the Czech national bank’s monetary policy: a longitudinal study since 1997
Purpose – This study examines the effectiveness of the Czech National Bank’s (CNB hereafter) monetary policy with a focus on its adaptive responses to macroeconomic indicators such as inflation, unemployment, economic growth, interbank rate, imports, exports, and exchange rates. The two-week repo rate served as the primary instrument for the analysis period from January 1997 to July 2023.
Research methodology – The research employs a Vector Autoregression (VAR) model, complemented by Impulse Response Functions (IRF), Forecast Error Variance Decomposition (FEVD), Granger Causality and Johansen Cointegration Tests to analyse quarterly data on the dynamic interactions between the CNB’s two-week repo rate and key economic indicators.
Findings – The research results show that the CNB monetary policies have mainly been effective in managing inflation targeting and sustaining economic stability. The considerable influence achieved through proactive policy adjustments to unemployment and interbank rates.
Research limitations – External macroeconomic shocks not accounted for in the VAR model might influence the study results. Furthermore, the findings are specific exclusively to the Czech economy and may not be directly applicable to other countries with distinct economic structures or monetary policy frameworks.
Practical implications – The research highlights the importance of predicting repo rate adjustments in response to changes in unemployment and interbank rates. CNB could use these findings to improve the understanding of policy changes and increase their effectiveness.
Originality/Value – The findings offer valuable insights for policymakers, governments, and banking industry participants seeking to enhance monetary policy efficiency.
Journal Article
EVOLUTION OF FUNCTIONS OF THE NATIONAL BANK OF UKRAINE: ECONOMIC AND LEGAL STUDY
The article is devoted to the analysis of the evolution of the functions of the National Bank of Ukraine for the period 1991-2023. The author's definition of the functions of the National Bank of Ukraine as its main directions and types of activities aimed at ensuring the stability of the monetary unit, protecting the rights and interests of the National Bank and the rights of consumers of financial services, etc. It was established that the scope of functions of the National Bank of Ukraine includes: establishment, security, foreign policy, foreign economic, human rights protection, anti-corruption, programmatic, law-making, control, and personnel. It has been proven that the functions of the National Bank of Ukraine are not exhaustive. The research methodology is formed within the framework of the use of economic and legal approaches. It is appropriate to analyze the base scenario of the macroeconomic forecast of the National Bank of Ukraine based on assumptions regarding further weighted monetary and fiscal policy and a wide range of economic and financial data used by the National Bank of Ukraine in the development of its monetary policy and control over its implementation. It is substantiated that when classifying the functions of the National Bank of Ukraine according to the criterion of the direction of its activities, it is necessary to take into account the dual nature of the National Bank of Ukraine: it is at the same time the central bank of Ukraine and a special central body of state administration. The factors that influenced the assignment of new functions to the National Bank of Ukraine and the exclusion of previously existing ones were determined. It is proved that during 1991-2023 the functions of the National Bank of Ukraine were expanded based on the principle of \"prerogatives\" and \"inalienable rights\".
Journal Article
Integration of Ukraine into the European banking system: cleaning, rebooting and Basel III
The urgency of the issue is related to changes in the Ukrainian banks’ business environment, taking into account the impact of domestic and global financial instability and the implementation of the regulatory framework for banking regulation of the National Bank of Ukraine in accordance with the Basel Committee on Banking Supervision recommendations. The main goal of this research is to analyze the degree of implementation and compliance with the Basel III regulations in Ukrainian banking system. To carry out the research, regulatory and legislative documents of the National Bank of Ukraine, the Basel Accords, statistic data of the Ukrainian banks and the National Bank of Ukraine were used. For this purpose, the analysis of main indicators of Ukrainian banks’ financial stability within the period of 2014–2017 is made. Thus, post-crisis regulatory changes have aimed at restoring bank stability. The results seem to suggest that bank regulatory changes may be repressive, for instance, cleaning and optimization of the banking system as an effective tool for anticrisis management. As a result, it was concluded that banks with foreign capital are the most stable in the banking system of Ukraine in comparison with domestic banks.
Journal Article
Caliber Collision Tops $5.5 Million
A 15,625-SF Caliber Collision project in Sherwood tipped the scales at $5.53 million. 5980 Wadley Road LLC, an affiliate of New York's Bessemer Trust, acquired its namesake address from PRD at Sherwood LLC, an affiliate of Pinnacle Development in Dallas. The deal is financed with a three-year loan of $1.7 million from First Community Bank of Batesville. ZPR Properties LLC of Deland, Florida, bought the America's Car Mart project at 5900 S. University Ave. from Cotrust Carm LLC, an affiliate of Orion Real Estate Group of Miami.
Trade Publication Article