This book discusses the transformation of the banking industry, particularly after a number of recent shocks: 2008 financial crisis, 2012 Euro-sovereign crisis, the pandemic COVID-19 crisis, the technological revolution, and reputational problems in banking due to climate risk and ESG (Environmental, Social and Governance) metrics.
The book emphasizes two post-pandemic issues: the role of financial education and inclusive finance, and responsible banking and ESG priorities. Individual chapters analyse how the pandemic shed new light on social and governance responsibilities: Major issues include the importance and efficiency of financial education, and the impact of ESG programs on firms value, banks probability of default, bank business models and reputation risk. The book also addresses investors behaviour and the factors which may bias financial disclosure and reporting. By addressing whether the post-2008 crisis bank restructuring has effectively created a resilient and sustainable banking system mostly from the European markets perspective the book will be of interest to researchers, academics, policy makers, and professionals of banking and financial institutions.
Chapter
1. Introduction by the editors.
Chapter
2. The market reaction
to climate risk: evidence from the European banking industry.
Chapter
3.
Dissecting the European ESG premium vs the US: is it all about non-financial
reporting?.
Chapter
4. Loan origination and monitoring guidelines: how ESG
indicators affect firms probability of default?.
Chapter
5. Using E from
ESG in systemic risk measurement.
Chapter
6. Corruption disclosure in
banking: insights from the literature.
Chapter
7. Financial competence and
the role of non-cognitive factors.
Chapter
8. Does financial literacy
progress over time? An analysis of three surveys in Italy.
Chapter
9. An
interdisciplinary approach to economic texts: the Considerazioni Finali by
the Governor of the Bank of Italy as a case study.
Chapter
10. Drivers of
shareholder value creation in M&A: event study in the European banking sector
in the post-financial crisis era.
Chapter
11. Market Reactions to Central
Bank Governor Changes: Evidence from Istanbul Stock Exchange.
Paul Wachtel is Professor Emeritus of Economics at the Stern School of Business, New York University. His research has been published in numerous journals, focusing on monetary policy, central banking and financial sector development. He was the co-editor of Comparative Economic Studies and is an Associate Editor of the Journal of Banking and Finance.
Giovanni Ferri is Professor of Economics at the Department of Law, Economics, Political Sciences and Modern Languages at LUMSA University. He also co-founded and chairs the master in management of SDGs and the Center for Relationship Banking & Economics, which fosters research for a better understanding of relational goods to promote societys wellbeing.
Ewa Miklaszewska is Professor of Economics at Cracow University of Economics, Poland, where she chairs the Department of Banking and Global Financial System, alongside being a guest lecturer at the Institute of Economics, Finance and Management of the Jagiellonian University. She is also a committee member of the European Association of University Teachers in Banking and Finance (The Wolpertinger Club).
