Zurück in die Zukunft mit dem „Banco-Coin“

Zusammen mit meinem Doktoranden Sinan Krückeberg forsche ich zum Thema Kryptowährungen. In der Nacht des Wissen im vergangenen November haben wir einen gemeinsamen Vortrag gehalten. Dabei ging es um Fragen was Geld eigentlich ist, wie der BitCoin funktioniert und wie das Geld der Zukunft aussehen könnte.

Eine Zusammenfassung unserer Hypothesen lesen Sie in unseren Artikel auf der Seite Der Bank Blog →

Hostile Takeovers: Are Banks Threatened by FinTechs?

Abstract

FinTechs aim to revolutionize the traditional banking sector. However, it is unlikely that they will develop large disruptive potential in Germany. The New Institutional Economics helps to predict in which banking divisions FinTechs are more likely to succeed. If the start-ups are unable to build up customer confidence and to generate real added value, then it seems to be more promising to cooperate with banks than to challenge them.

Citation

Peter Scholz (2018): Hostile Takeovers: Are Banks Threatened by FinTechs? SSRN.

Link to Article

In January 2017, this article has been published with the title “Droht den Banken die
feindliche Übernahme durch FinTechs?” in the German journal Corporate Finance No.
01-02, p. 3-7. It is published on SSRN in English language with authorization of the
publisher.

Privatanleger auf dem Finanzmarkt — Workshop in Frankfurt / Main

Warum legen verhältnismäßig wenige Deutsche ihr Geld in Aktien und anderen Wertpapieren an? Was müsste man tun, damit die Privatanleger ihr Verhalten verändern? Ist der Finanzmarkt schlicht zu komplex für Privatanleger?

Diesen und anderen Fragen gingen die Teilnehmer auf dem Workshop Privatanleger auf dem Finanzmarkt vom 15. bis 16. Februar in Frankfurt / Main nach.

Weiterlesen

The Golden Rule of Banking: Funding Cost Risks of Bank Business Models

 

Together with my Ph.D. student David, we have analyzed liquidity risks and therefore finished the third article for his thesis.

Abstract

The liquidity regulation of banks in Pillar 1 of the Basel framework does not consider funding cost risks of different bank business models. Therefore, we assemble a data set of balance sheet positions including maturities and use the method of Value-Liquidity-at-Risk to explore 118 European retail, wholesale, and trading banks. When examining liquidity-induced equity risks, trigged by exemplary rating shifts, we find that retail banks bear significantly lower funding cost risks than wholesale and trading banks. Consequently, a prudential regulation, which simultaneously considers the funding cost risk and the diversification of the banking system is recommended.

Citation

David Großmann & Peter Scholz (2017): The Golden Rule of Banking: Funding Cost Risks of Bank Business Models. SSRN Working Paper.

Automatisches Investment – Anlageempfehlung vom Robo Advisor

Entscheidungen werden heute kaum noch ohne Online-Unterstützung getroffen. Warum also nicht auch die Wahl der Vermögensanlage dem Internet überlassen? Robo Advisors versprechen effiziente, rationale und transparente Anlageempfehlungen und entwickeln sich zur digitalen Beratungsalternative. Zu ihren Empfehlungen gelangen sie auf höchst unterschiedliche Weise.

Lesen Sie meinen Artikel weiter auf der Seite Der Bank Blog →

To Advise, or Not to Advise — How Robo-Advisors Evaluate the Risk Preferences of Private Investors

In a joint work with Michael Tertilt, an HSBA alumnus of MBA Corporate Management, we analyze the current quality of robo-advice.

Abstract

Robo-advisors promise efficient, rational, and transparent investment advisory. We analyze how robo-advisors ascertain their user’s risk tolerance and which equity exposure is derived from the individual risk profile. Our findings indicate significant differences in the quality of offered investment advice. On average, robo-advisors ask relatively few questions in their user’s risk profile assessment, and it is particularly surprising that some of the questions seem not to have any impact on the risk categorization. Moreover, the recommended equity exposure is relatively conservative.

Citation

Michael Tertilt & Peter Scholz (2017): To Advise, or Not to Advise — How Robo-Advisors Evaluate the Risk Preferences of Private Investors. SSRN Working Paper.