scholarly journals Sustainability Assurance in Socially-Sensitive Sectors: A Worldwide Analysis of the Financial Services Industry

2018 ◽  
Vol 10 (8) ◽  
pp. 2777 ◽  
Author(s):  
Elies Seguí-Mas ◽  
Fernando Polo-Garrido ◽  
Helena Bollas-Araya
Keyword(s):  
Financial Services ◽  
Sustainability Reporting ◽  
Great Variability ◽  
Financial Services Industry ◽  
Company Size ◽  
Services Sector ◽  
Global Context ◽  
Financial Services Sector ◽  
Environmentally Sensitive ◽  
Services Industry

Sustainability reporting and assurance have considerably increased in the last decades. Among different sectors, ‘sensitive sectors’ attracted the attention of many academics. However, most of research works were focused only on ‘environmentally-sensitive sectors’. Therefore, after the loss of trust caused by the lack of transparency due to the crisis, ‘socially-sensitive sectors’ as financial services sector needs to strengthen users’ confidence in the credibility of their reported activities. The aim of this paper is to assess assurance practices worldwide in one of the main ‘socially-sensitive sectors’: the financial services sector. We study what factors are associated with adoption of assurance and choice of assurance provider, and whether assurance statements differ across providers. Our results reveal that, compared to the global context, companies operating in the financial services sector are more likely to adopt assurance and to choose accountants as assurance providers. Our findings show that adoption of assurance depends on company size. We also found that companies using the financial services sector supplement are more prone to adopt assurance. Our results also evidence that choice of assurance provider depends on the country and listing status Finally, our research shows a great variability in assurance statements across providers.

scholarly journals Analisis Yuridis Tujuan dan Kewenangan Otoritas Jasa Keuangan (OJK) dalam Lembaga Perbankan di Indonesia

PRANATA HUKUM ◽  
2018 ◽  
Vol 13 (2) ◽  
pp. 168-180 ◽  
Author(s):  
Yulia Hesti
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Financial Services Industry ◽  
Services Sector ◽  
Financial Services Sector ◽  
Regulation And Supervision ◽  
Consumer Rights ◽  
Integrated Regulation ◽  
Services Industry ◽  
Article 5

The industry of the financial services or banking sector is demanded to be constantly stable, that is healthy, transparent and well managed. Such banking conditions can build consumers to continue to actively engage in transactions. However, as time goes by the development of the financial services industry in Indonesia is increasing and the cross-sectoral problems of the financial services industry are increasingly in need of reform in the field of banking law, then the Financial Services Authority is formed as an institution that will replace Bank Indonesia in the supervision of banks and supervise institutions other finance. OJK in its formation has several objectives to carry out supervision, especially in the financial services sector. Pursuant to Article 4 of the OJK Law, OJK was formed with the aim that all activities within the financial services sector: (a) be organized regularly, fairly, transparently and accountably; (b) Able to realize a financial system that grows sustainably and stably; and (c) Able to protect the interests of consumers and society. Based on its authority, the OJK carries out the task of regulating and supervising the banking sector in accordance with its functions as stipulated in Article 5 of the OJK Law which functions to organize an integrated regulation and supervision system for all activities within the financial services sector. With the presence of OJK in supervision, banking and other financial institutions can create harmonious regulations so as to protect consumer rights.

Commentary: Growth Prospects and Financial Services

2009 ◽  
Vol 207 ◽  
pp. 4-9 ◽  
Author(s):  
Martin Weale
Keyword(s):  
Financial Crisis ◽  
Financial Services ◽  
Financial Services Industry ◽  
Services Sector ◽  
Financial Services Sector ◽  
The Past ◽  
The Future ◽  
Growth Prospects ◽  
Services Industry

Over the past twenty years the expansion of the British economy has been supported by growth in the financial services industry. With the onset of the financial crisis it seems most unlikely that the financial services industry can, in the future, act as the sort of motor of growth that it had done in the past. This commentary provides an overview of the role of the financial services sector in the economy over the past twenty years and assesses likely developments in the future. It first assesses the contribution of the sector to the economy and then considers the issues surrounding its likely shape in the future.

scholarly journals Risk Return Analysis of Selected Stocks of Indian Financial Sector

2021 ◽  
pp. 111-124
Author(s):  
Sonia Lobo ◽  
Ganesh Bhat S.
Keyword(s):  
Financial Services ◽  
Financial Services Industry ◽  
Financial Investment ◽  
Services Sector ◽  
Financial Services Sector ◽  
Risk Return ◽  
Monthly Return ◽  
Significant Difference ◽  
Services Industry ◽  
The Individual

Purpose: Indian stock markets are channelizing financial resources for the economic progress of the country. The Indian Financial Services sector is the subset of the stock market which is playing a key role in stock trading. The Indian Financial Services industry is multifaceted and is growing rapidly both in terms of the robust growth of existing firms and the entry of new players playing a stellar role. This surge in growth of the Financial Services sector led many investors to divert their investment towards the financial services segment. To construct an attractive portfolio, the individual investor should perform a risk-return analysis well in advance. This will assist the investor in determining the risk-return relationship in various securities. Given this background, the study is undertaken to evaluate the risk-return patterns of the Indian Financial Services sector securities. Design/Methodology/Approach: The risk and return of sample group of companies belonging to the Indian Financial Services sector are analyzed to arrive at a monthly return by taking the monthly closing price of five financial investment companies belonging to the Standard & Poor’s BSE Finance Index for the period January 2020 to July 2021. To achieve the objectives various statistical tools such as descriptive statistics, correlation, and Beta are adopted. Also, a paired t-test is performed to check the validity of the hypothesis. Findings: The study has brought to light that India Infoline Finance Ltd (IIFL Finance) has provided the highest monthly returns with a high beta value. Further, the tested hypothesis reveals that there exists a significant difference in the monthly returns of the S&P BSE Finance Index and JSW Holdings. Originality/value: The study emphasizes the risk-return analysis of selected stocks of the Indian Financial Services sector. Potential investors will benefit from this equity analysis because it will enable them to make more intelligent and accurate investment decisions. Paper Type: A case study of the Indian Financial Services Industry

scholarly journals Social contagion and the institutionalisation of GRI-based sustainability reporting practices

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ameeta Jain ◽  
Muhammad Azizul Islam ◽  
Monica Keneley ◽  
Monika Kansal
Keyword(s):  
Financial Services ◽  
Sustainability Reporting ◽  
Social Contagion ◽  
Global Reporting Initiative ◽  
Content Type ◽  
Services Sector ◽  
Reporting Practices ◽  
Financial Services Sector ◽  
Adoption And Diffusion ◽  
And Diffusion

Purpose This study aims to investigate the adoption and diffusion of Global Reporting Initiative (GRI)-based sustainability reporting practices within the global financial services sector. Design/methodology/approach The approach draws on the sociological construct of social contagion theory (SCT) to explain the drivers of diffusion of GRI-based sustainability reporting. Based on a longitudinal study of GRI adoption over a period from 2000 to 2016, thematic content analysis of sustainability reports and media articles was used to refine information gathered that related to nature and spread of GRI-based sustainability practices within the global financial services sector. Findings This study finds that the early adopters of GRI-based sustainability reporting and the accompanying media attention influenced the institutional diffusion of GRI-based reporting in the financial services sector. This growth was isomorphic as companies copied best practice models to reduce uncertainty and maintain legitimacy. Originality/value This paper focuses on the institutional diffusion of sustainability reporting practices within the global financial sector. It explores the notion of social contagion as an institutional dynamic to understand the drivers for the adoption and diffusion of GRI-based sustainability reporting across national borders. In doing so, the study contributes to the accounting literature on diffusion of innovations in reporting practice, but also, more generally, to the field of diffusion of new ideas in organisations using the unique approach of SCT.

Analysis of GRI Reporter

Think India ◽  
2013 ◽  
Vol 16 (2) ◽  
pp. 40-54
Author(s):  
Inten Meutia
Keyword(s):  
Developing Countries ◽  
Financial Services ◽  
Descriptive Analysis ◽  
Sustainability Reporting ◽  
Developed Countries ◽  
Services Sector ◽  
Financial Services Sector ◽  
Sustainability Reports

This paper reports the characteristic of GRI Reporters. GRI Reporters are corporates that make a sustainability reporting based on GRI guideline and report their reporting to GRI. This paper provides descriptions about the type of corporation, sector of corporation, the region and country, membership of country (OECD and DAC), and application level of corporation of the GRI reporters. From the descriptive analysis, we get information that more companies have the awareness to publish sustainability reports. In this paper, we do analysis on some interesting phenomenons; those are: indication that sustainability reporting has been the concern of SMEs as well as other corporations, financial services sector is the largest sector of the GRI reporter, and in fact many GRI Reporters come from developing countries, instead of developed countries.

Protection of Customers for Management of Digital Banking Services (Study at PT. BRI Unit Boyolali)

2020 ◽  
Vol 3 (2) ◽  
pp. 170
Author(s):  
Herdian Ayu Andreana Beru Tarigan ◽  
Darminto Hartono Paulus
Keyword(s):  
Information Technology ◽  
Financial Services ◽  
Banking Industry ◽  
Service Innovation ◽  
Quality Of Services ◽  
Legal Research ◽  
Banking Services ◽  
Services Sector ◽  
Financial Services Sector

<p>Increasing competition in the Indonesian banking industry has encouraged many banks to improve the quality of services to customers by utilizing information technology developments. Service innovation in the use of information technology encourages banks to enter the era of digital banking services. However, the development of digital banking services also increases the risks faced by banks. The purpose of this study is to provide an overview of the implementation of digital banking services and customer protection for risks from digital banking services. The method used in this study is an empirical legal research method. The results of this study indicate that the implementation of digital banking services is regulated by OJK Regulation No.12/POJK.03/2018. The existence of this OJK Regulation is expected by banks as providers of digital banking services to always prioritize risk management in the use of information technology. In addition, this study also shows the existence of 2 types of customer protection for the use of digital banking services, namely preventive protection in the form of legislation related to customer protection in the financial services sector and repressive protection in the form of bank accountability for complaints from customers using digital banking services.</p>

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