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- Committee of European Securities Regulators
Based in Paris, France, the Committee of European Securities Regulators (CESR), established in 2001, has a consultative function on securities regulation. Its portal contains all EU legislation and draft legislation regarding the regulation of the financial markets. It also includes standards, recommendations and guidelines on financial reporting, investor protection etc.
- Consolidation in the financial sector
This report on restructuring in the financial services sector and its potential effects covers the 11 G10 nations plus Australia and Spain. It addresses the key aspects of financial consolidation and the potential effects of consolidation on monetary policy in a variety of areas including financial risk, monetary policy, competition and credit flows, and payment and settlement systems.
- Corporate social responsibility in France, Germany, Hungary and the United Kingdom
These 12 case studies look at how European companies are developing models of best practice in the field of working and employment conditions and corporate social responsibility (CSR). The companies selected are from four countries - France, Germany, Hungary and the United Kingdom - and cover sectors as diverse as the automotive, chemical, financial services, post and telecommunications, petrochemical and steel sectors. Restructuring and subcontracting were two specific issues highlighted in all case studies.
- Corporate governance
This governance section of the EurActiv network includes information on the proposals of the Commission on the eighth Company Law Directive and on how to better regulate and reform the way EU-listed companies are audited. The issue is crucial after several big corporate scandals. It also touches upon EU-US collaboration, as it is important to achieve converging views between the two regulators. Auditor rotation is likely to become the future norm.
- Corporate governance in a globalising world: Convergence or divergence?
The book 'Corporate governance in a globalising world: Convergence or divergence?' presents a broad and multi-disciplinary debate on corporate governance systems by integrating academic viewpoints, statistical evidence, as well as field surveys and explores the question which model may prevail.
- EC financial services portal
This is the Financial Services portal of the European Commission, including summaries of legislation on general provisions, banking, insurance, securities transactions, financial conglomerates and institutions for occupational retirement. In the framework of the general provisions, the portal links to the World Trade Organisation negotiations for financial services.
- EMCC dossier on Knowledge Intensive Business Services (KIBS) - Additional sources of information
This document lists further sources of information on Knowledge Intensive Business Services (KIBS) that may be of interest to the reader.
- EMCC dossier on the financial services sector
The recent financial crisis has brought to light the serious challenges that the European financial services sector is facing. What are the prospects of a viable, more resilient financial industry emerging from the crisis? To answer this question, we need to look at the economic trends in the banking and insurance industries and examine the results of the debate on the regulation of financial markets. Also, a look at the business models that are applied in the different segments of the financial sector as a response to the crisis can help to map the future of the sector. From the present viewpoint, it appears very probable that different approaches will compete in the near future and there will be no clear decision about which is the superior model. The coming years will be a period of testing at the business level as well as at the level of public regulation.
- EMCC dossier on Knowledge Intensive Business Services (KIBS)
The so-called ‘knowledge economy’ has given way to a whole range of new professional activities and occupations referred to as Knowledge Intensive Business Services (KIBS). This emerging sector is regarded as a fundamental contributor to EU competitiveness, largely due to its key role in providing non-core services to companies across the economic spectrum. Although a relatively young and unknown sector, its contribution to employment and growth across the EU in the coming years is expected to be paramount in the context of achieving the goals of the Lisbon Agenda. This dossier aims to provide an in-depth analysis of the trends and forces shaping KIBS and draws mainly on recent and original EMCC research, including a sector mapping report, company and cluster studies, future scenarios and foresight work.
- Ethical Investment Research Service
The Ethical Investment Research Service (EIRIS) is a non-profit organisation, set up in 1983, undertaking an extensive research programme on companies’ performance in terms of ethics and conduct. Its research activities are reflected in its online publications, which include a newsletter, annual reviews and guides. It is based in London, UK.
- European Environment Agency data service
The European Environment Agency (EEA) data service is a compilation of statistics on environmental issues. Its aim is to make available for general use a wide range of data sets, which contain aggregated data, typically on a country level, with a geographical coverage of at least the 15 European Member States. Information about the source of each data set and its geographical and temporal coverage is provided.
- European Private Equity and Venture Capital Association
Based in Brussels, Belgium, the European Private Equity and Venture Capital Association (EVCA) represents the European private equity industry investing in high-risk projects and companies. Its website provides access to information and news about the venture capital market in Europe, its prospects, events and conferences etc.
- European Investment Bank papers
The European Investment Bank (EIB) papers are the result of detailed research carried out by EIB staff together with contributions from external scholars and specialists. The papers date back to 1996 and are a reliable source of analysis and data with regard to the past, present and future of the European financial environment. Each study is subdivided into different chapters addressing various aspects related to the main theme.
- European Central Bank
The European Central Bank (ECB) is the guardian of price stability in all 12 European countries which have adopted the euro as single currency, also defined as the euro area. Established on 1 June 1998 and located in Frankfurt am Main, Germany, the ECB is one of the world's youngest central banks. However, it has inherited the credibility and expertise of all the euro area national central banks, which together with the ECB implement the stability-oriented monetary policy for the euro area.
- Family businesses: do they perform better?
This report reviews the literature related to the performance of family businesses. It surveys the key characteristics of family businesses and examines the empirical evidence comparing performance with non-family businesses. Four themes appear salient in linking the key characteristics with the business performance: ownership and control, management strategies and style, long-term view, and human resources. The report stresses the need for a pan-European survey to yield consistent results.
- Financial markets as drivers of change at company level: Five case studies
These five case studies illustrate from a company perspective to what extent financial market developments and innovations in the 1990s played a role in driving change. One key characteristic of these changes is the rapid growth in the availability of equity financing. Also key was the emergence of institutional investors as major direct equity owners. While these changes in financial markets enlarged the pool of savings available for productive investments, some observers consider that, through the 1990s, shareholders have increasingly focused on short-term financial and business performance.
- Financial markets and the funding of enterprises in the European Union: what future?
This report uses scenarios to explore the future landscape of the financial services industry in the European Union. The question posed is whether the structure of business finance will shift towards greater reliance on capital markets, equity and bonds and away from bank finance. After reviewing the key factors that drove change in the nineties, the report examines whether these factors are likely to continue to drive change in the years ahead; looks at new pressure points and, finally, draws three scenarios for the future.
- Financial market integration in the euro area
This 2003 working paper by the OECD’s Economics Department is of particular relevance to Europe and to its effort to unify the regulatory framework for financial markets. It analyses the driving forces shaping financial market integration: global developments; advances in information technology; decreasing communication costs; and standardisation of products. While reviewing the most relevant segments of financial markets, the paper also identifies the remaining fragmentation of the European markets.
- Financial services portal
This portal on financial services, by the European Commission’s Directorate General for Internal Market, includes a variety of documents from all European institutions, classified by topic and referring to: general matters; action plans; cross-sector issues; retail financial services; e-c ommerce; insurance; occupational pensions; payment services; banks; regulatory capital; securities markets and investment funds; financial conglomerates and financial crime and infringements.
- Financial services sector - what future?
Sector Futures provides specialised reports based on the monitoring of existing foresight studies, scenario work, innovation studies and reliable data sources. April 2004 features the third and last article in the series on the future of the financial services sector. It focuses on policy issues for the future of the sector.
- Funding the growth of enterprises
Using scenarios to anticipate change in the future of enterprise financing was the subject of a two-day workshop organised by the European Monitoring Centre on Change (EMCC). It was held in Brussels, Belgium on 22-23 October 2003. Various players in the ‘chain’ of enterprise funding - SME owners and managers; business support agencies; and private investors - attended the workshop. They examined a number of key drivers that will influence the availability of enterprise financing over the next 10 years. A number of additional drivers were identified, as were the key characteristics of a survivor SME in these future scenarios.
- Funding the growth of enterprises
Using scenarios to anticipate the future of enterprise financing in Europewas the theme of EMCC's sectoral workshop in Brussels on 21-22 October 2003. This document looks at the aim of the workshop, which is to encourage young companies to use scenario-building techniques in order to anticipate change and discuss what can be done now to prepare for likely changes in the future, in relation to the provision of capital and access to external financing. The workshop report will be available online beginning of next year.
- Inclusion of ageing workers: Four company case examples
The European population is ageing. Measures to reduce the burden of work should be able both to help prevent premature wear and tear on employees who are still young, and to make work easier for older workers. The four company case examples have addressed these issues by rethinking work organisation, adapting working time schedules, training and recruiting older employees. The companies operate in different sectors - electrical, financial services, health and steel - in Denmark, Norway and Sweden.
- L'uso delle tecnologie dell'informazione e della comunicazione nelle imprese
A survey by the Italian national statistical office into the use of information and telecommunication technologies (ICT) in manufacturing and services companies in Italy. The study is based on surveys, which were carried out between June and November 2001 and covered all enterprises with 250 or more employees. The total number of enterprises surveyed was around 12,000.
- Managing large-scale restructuring: Barclays
Increasing competition in the financial services sector means that many banks are at risk of closure or are being forced to merge with other financial institutions. One of the leading financial services companies in the world, Barclays has managed to stay competitive in a difficult market, due to the development of the organisation's global strategy and operating model. For Barclays, this strategy involves minimising costs and improving customer services, which has led the company, since 2003, to offshore many of its back-office posts to lower-cost countries, such as India. This case study describes the driving forces to offshore in a corporate and socially responsible way, as well as the implementation of the offshoring agreement in Barclays.
- Managing change in EU cross-border mergers and acquisitions
The European Foundation for the Improvement of Living and Working Conditions organised a company network seminar on November 29–30, 2007, hosted by Santander at its corporate headquarters in Madrid, Spain. In intensive discussions over the two days, 32 representatives from companies, trade unions, universities, research organisations and the European Commission discussed the management of change in EU cross-border mergers and acquisitions (M& A). The context was set by a presentation from Roderick Meiklejohn from the European Commission’s Directorate General of Economics and Finance, giving the latest evidence of trends in M&A in Europe. This was followed by detailed presentations of their M&A strategies by representatives of Air France / KLM (France, Netherlands), Impress (Netherlands, UK), Danske Bank / National Irish Bank (Denmark, Ireland), Schneider Electric (France) and Santander /Abbey (Spain, UK)
- Managing business internationalisation
In a seminar organised for members of its Company Network, the European Foundation for the Improvement of Living and Working Conditions explored business practices in the context of companies expanding their operations to new external markets in Europe and elsewhere. The seminar 'Managing business internationalisation’ was held in Brussels, Belgium on 12-13 March 2003. Four companies from Germany, Ireland, Spain and Sweden presented their approach and experience to an audience of 35 participants representing a wide range of stakeholder groups (employers, trade unionists, government representatives, change agents and academics) from 11 EU Member States and acceding countries.
- OECD - Statistics Portal
The Organisation for Economic Cooperation and Development (OECD) is made up of 30 member countries which share a commitment to democratic government and the market economy. Through fostering active relationships with some 70 other countries, NGOs and civil society, the organisation has a global reach. Renowned especially for its publications and statistics, the OECD's work covers a broad range of economic and social issues, from macroeconomics to trade, education, development, and science and innovation.
- Offshore outsourcing of business services
In a seminar organised for members of its Company Network, the European Foundation for the Improvement of Living and Working Conditions explored corporate strategies related to the offshore outsourcing of business services. The seminar ‘Offshore outsourcing of business services - threat or opportunity?’ was held in Tallinn, Estonia, on 17-18 March 2005. Four companies - Elcoteq-Personalijuht (Estonia), Siemens Business Services (SBS, Ireland), T-Systems (Austria) and ABN AMRO (the Netherlands) - presented their company strategies and an assessment of their experiences with offshore outsourcing. In an active and lively debate, 45 participants from 16 EU Member States discussed the conditions, impact, limits and policy implications of this business strategy.
- Promoting gender equality in the workplace: Two company case examples
Corporate strategies are nowadays considered critical in the promotion of gender equality in the workplace. Promoting an equality sensitive approach in human resource management is still a major challenge for companies and policymakers. The two company case examples operate in the financial services sector with their headquarters in the Netherlands. Both companies have put strategies in place to improve the representation of women at higher-level positions by facilitating flexible working hours and contributing to childcare costs.
- Regulatory authorities in south-east Europe
This report is part of the stability pact for south-eastern Europe, and focuses on the role of the regulatory systems within the restructuring of the energy and telecommunications sectors of south-eastern European countries. Both policy and institutional issues are addressed; an overview of the utility sectors in these and other OECD countries is provided, together with a description of existing regulatory authorities in terms of resources, independence, accountability and coordination.
- Sarbanes Oxley Act
The Sarbanes Oxley Act is a very important, though controversial, act, which has changed the ethics and regulation of the auditing business and corporate governance. As a result of the US scandals, it has paved the way for capital market commissions in other countries to issue more stringent rules to control listed companies.
- The Impact of Mergers and Acquisitions in the Banking and Insurance Sector
A report of a conference in 2000 organised by UNI-Europa Finance Sector
- The World Bank Group
The World Bank Group is one of the world's largest sources of development assistance and consists of five distinct institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for the Settlement of Investment Disputes (ICSID).
- The employment impact of mergers and acquisitions in the banking and financial services sector
This report was prepared by the International Labour Office (ILO) as a discussion document at the tripartite meeting on the 'Employment impact of mergers and acquisitions in the banking and financial services sector', organised by the ILO in Geneva on 5-9 February 2001.
- The foresighted society
This is the final synthesis report of the Swedish Technology Foresight project which brought together 130 experts from the knowledge community to look at the impact of technology on industry and society and to predict future trends. The study aims to predict technological development in the long term in order to identify worthwhile strategies in education, research and development, which will promote change in a positive way.
- The role of competence and qualification development in fostering workforce mobility
In a seminar organised for members of its Company Network, the European Foundation for the Improvement of Living and Working Conditions discussed the role of competence and qualification development in fostering workforce mobility. The seminar was held in Thessaloniki on 9-10 November 2006, and was organised by the European Monitoring Centre on Change (EMCC) in cooperation with the European Centre for the Development of Vocational Training (CEDEFOP). The introductory presentations summarised the policy context and the results of recent research on mobility in Europe. The second part of the seminar highlighted initiatives undertaken at European and national level aimed at promoting the transparency and recognitions of qualifications of employees. The final session discussed the implications of these policy objectives for employers and employees. Four companies – Electricité de France Group (France), the Bank of Cyprus (Cyprus), Telefónica S.A (Spain) and Neorion Syros Shipyards (Greece) – presented their approach to the competence development and mobility of their employees.
- The workplace of the future - managing the challenge of an ageing workforce
In a seminar organised for members of its Company Network, the European Foundation for the Improvement of Living and Working Conditions explored policies and practices associated with managing an ageing workforce. The seminar ‘The workplace of the future - managing the challenge of an ageing workforce’ was held in Vienna, Austria, on 4-5 March 2004. Three companies from Austria, France and Germany, representing different sectors (steel, electronics, financial services), and the Finnish Ministry of Labour presented their approach and policies to an audience of 60 participants coming from 12 EU Member States.
- TransFair and HVB Profil: The internal organisation of Hypovereinsbank’s placement and temporary work agency
This case study examines the decision by HypoVereinsbank (HVB) - one of Germany’s leading banks - to set up the internal placement and temporary work unit, known as TransFair, and to introduce HVB Profil GmbH as a subsidiary, as part of its restructuring activities. Reduction in personnel has been particularly linked to both internal restructuring and to rationalisation measures that evolved, following the merger of two German banks to form the HypoVereinsbank and its subsequent merger with the Bank Austria Creditanstalt, in 1997 and 2000-2001 respectively.
- Transforming organisations - the importance of leadership and culture in managing change
In a seminar organised for members of its Company Network, the European Foundation for the Improvement of Living and Working Conditions explored new approaches to leadership, the relationship between leadership and organisation culture and the role both factors play in successfully transforming businesses. The seminar, ‘Transforming organisations’, was held in Madrid, Spain, on 23-24 September 2003. Four companies from Belgium, France, Ireland and Spain presented their company’s approach and experience to an audience of 45 participants from 10 EU Member States.
EMCC is a project of the European Foundation for the Improvement of Living and Working Conditions.
Page last updated: 12 October, 2010