In response to the 2007-2008 financial crisis, regulatory requirements have increased over the years, forcing banks, employees and regulators to act in a sustainable manner. This thesis investigates the change and transformation process of major banks from an external and internal perspective. Therefore, the purpose of this thesis is to explore the implications of the regulatory influence on the banking business model and personal behaviour and motivations of bank employees and regulators from a multinational systematically important bank in the European Union.
Therefore, this work contributes to knowledge in the field of change and transformation process for multinational banks, due to the growing regulatory requirements of previous years. It provides a unique analysis of the changes of the banking business model and the related changes of human behaviour and job motivation. In particular, the employees of a bank (ranging from new staff to established experts and from managers to members of the regulatory authorities) who give personal and deep insights into the challenges they face in their workplaces and reflect on the reasons for their actions and expectations.
Table of Contents
1 INTRODUCTION
1.1 PERSONAL MOTIVATION AND ORIGINALITY OF THE RESEARCH
1.2 RESEARCH AIMS, QUESTIONS AND OBJECTIVES
1.3 RESEARCH DESIGN AND CONCEPTUAL FRAMEWORK
1.4 THESIS STRUCTURE
2 LITERATURE REVIEW
2.1 INFLUENCE OF MARKET REGULATION
2.1.1 Market regulation for corporates
2.1.2 Market regulation for banks
2.2 LAWS AND DIRECTIVES OF THE EUROPEAN SUPERVISION AUTHORITIES FOR BANKING INDUSTRIES
2.2.1 Banking groups in the European Economic Area
2.2.2 Evolving banking regulation
2.2.2.1 Stability measurements for banks’ regulation
2.2.2.2 Stability measurements realisation
2.2.2.3 European Union legislation for banking industry
2.3 BANKING BUSINESS MODEL FOR SYSTEM-RELEVANT BANKS
2.3.1 System-relevant bank
2.3.2 Banking activity and business model
2.3.2.1 Business activities of banks
2.3.2.2 Banking business model performance
2.3.2.3 Post crisis impact on business models
2.3.2.4 Shadow banking and regulatory arbitrage
2.4 ANNUAL, SUSTAINABILITY AND DISCLOSURE REPORTS OF UNICREDIT BANK AG
2.4.1 Annual reports
2.4.2 Sustainability reports
2.4.3 Disclosure reports
2.5 HUMAN BEHAVIOURS IN AN ORGANISATION OR WORKPLACE
2.5.1 Change management and business transformation
2.5.1.1 Change Management
2.5.1.2 Business transformation
2.5.2 Job satisfaction
2.5.2.1 Maslow's hierarchy of needs
2.5.2.2 Herzberg's two-factor theory
2.5.2.3 Bruggemann model and Büssing’s adjustments
2.5.2.4 Empirical Evidence
2.6 SUMMARY
2.7 RESEARCH GAPS
3 METHODOLOGY
3.1 OVERVIEW OF THE CHOSEN METHODOLOGY AND METHODS
3.2 RESEARCH PARADIGM AND PHILOSOPHY
3.2.1 Research paradigm
3.2.2 Research philosophy
3.3 RESEARCH METHODS AND TECHNIQUES
3.3.1 Research approach
3.3.2 Research design
3.3.3 Research method
3.3.4 Research ethic
3.4 CONCLUSION
4 INTERVIEW
4.1 INTERVIEW STRUCTURE
4.1.1 Aim of the expert interviews
4.1.2 Case study
4.1.3 Participant selection
4.1.4 Interview analyses design and procedure
4.1.5 Interview set-up, structure, questions and analyse techniques
4.1.6 Interview questions
4.2 INTERVIEW ANALYSIS
4.2.1 Participants’ professional and academic experience
4.2.2 Financial crisis of 2007-2008 as trigger event and personal experience
4.2.3 Development of the banking regulation
4.2.4 Regulation impact on banking business model for system-relevant banks
4.2.5 Personal behaviour and motivation during the change process
4.2.6 Perspective banking sector
4.3 CONCLUSION
5 DISCUSSION
5.1 INCREASING BANKING REGULATION
5.2 CHANGES OF BANKING BUSINESS MODEL
5.3 HUMAN BEHAVIOUR AT WORKPLACE
5.4 TRUST SCALE - FACTS AND OPINIONS DEVIATION
5.5 CONCLUSION
6 CONCLUSION
6.1 PRACTICAL CONTRIBUTION
6.2 LIMITATIONS
6.3 FURTHER RESEARCH
Objectives & Research Topics
This thesis investigates the implications of evolving regulatory requirements on the business models of multinational systematically important banks within the European Union, while simultaneously examining how these regulatory pressures impact the personal behaviour, job satisfaction, and motivations of bank employees and regulatory personnel.
- Evolution of banking regulations following the 2007-2008 financial crisis.
- Impact of regulatory intensification on banking business models and operational strategies.
- Human behaviour, job satisfaction, and motivational factors within the changing banking workplace.
- Intersection of institutional change management and employee perspective in large-scale financial organisations.
- Analysis of the trust gap between regulatory objectives and individual employee perceptions.
Auszug aus dem Buch
2.5.2 Job satisfaction
Job satisfaction describes the emotional positives but also the negative attitude of a person towards their work. Which attitude someone has depends in the end on their experiences at work, but also on one's own expectations. Job satisfaction should be understood here as the individual attitude of a single person. Positive experiences mean that these expectations could be sufficiently realised according to the subjective assessment (Judge, Thoresen, Bono, & Patton, 2001; Lund, 2003; Saari & Judge, 2004). The definition of the term job satisfaction is not homogeneous and is considered from different perspectives.
Job satisfaction is difficult to determine and varies considerably, but certain methods chosen here can be used to capture it. The empirical studies show that it is analysed very poorly, partly outdated or too generally and therefore the analyses of the expert interviews in this thesis make a significant contribution to the current field of knowledge. Therefore, for a successful change culture and transformation of the business model, job satisfaction is a central point, which the experts explain in more detail in the interviews (section 4.2.5).
For this thesis the following three central theories of job satisfaction, which are based on qualitative aspects, are identified above all: the starting point is hierarchy of needs of Maslow (1954), the two-factor theory of Herzberg (Herzberg, 2017; Herzberg et al., 1959), the Bruggemann model (Bruggemann, 1974; Bruggemann, Groskurth, & Ulich, 1975) and Büssing’s adjustments (Büssing, 1991). Following this, empiric measurements on meta-analyses are reviewed on job satisfaction and performance.
Summary of Chapters
1 INTRODUCTION: Outlines the personal motivation for the study, research aims, objectives, and the overall framework of the research.
2 LITERATURE REVIEW: Provides a comprehensive overview of market regulation, evolution of EU banking directives, business models for major banks, and psychological models of job satisfaction in the workplace.
3 METHODOLOGY: Details the research paradigm and philosophy, justifying the use of critical realism and a mixed-methods approach to investigate the research objectives.
4 INTERVIEW: Describes the design, participant selection, and analysis of semi-structured expert interviews conducted with bank personnel and regulators to capture qualitative insights.
5 DISCUSSION: Synthesises findings from the literature and empirical interviews, addressing the primary research questions regarding regulation, business models, and human behaviour.
6 CONCLUSION: Explains the practical contributions of the work, highlights limitations of the methodology, and provides recommendations for further research.
Keywords
Banking Regulation, Business Model, Financial Crisis, Job Satisfaction, Change Management, System-relevant Banks, Employee Motivation, UniCredit Bank AG, Basel III, Shadow Banking, Human Behaviour, Risk-adjusted Performance, Corporate Culture, Regulatory Arbitrage, Organizational Transformation
Frequently Asked Questions
What is the core focus of this thesis?
The thesis examines how increasing banking regulations, in response to the 2007-2008 financial crisis, affect the business models of large multinational banks and the corresponding psychological impacts on their workforce.
What are the primary areas of research?
The research centres on market and banking regulation, the transformation of banking business models, reporting standards, changes in organisational behaviour, and determinants of job satisfaction.
What is the main research question?
The study seeks to answer how banking regulations influence business models and, specifically, what the impact of these intensifying regulatory demands is on the attitudes and behaviours of bank and regulatory employees.
Which scientific methodology is applied?
The author uses a critical realist philosophy with a mixed-methods (sequential explanatory) approach, combining quantitative secondary data analysis with qualitative semi-structured expert interviews.
What topics are discussed within the main chapters?
The main part covers the regulatory history (Basel I to IV), technical classification of bank business models (retail vs. investment vs. wholesale), and deep-dive psychological theories such as Maslow's hierarchy and Herzberg's two-factor theory in the context of the banking sector.
Which keywords best describe this work?
Keywords include banking regulation, systemic risk, business model transformation, job satisfaction, employee motivation, and the impact of regulatory demands on personal behaviour.
How does regulatory pressure affect the daily work of bankers?
According to the interviewees, regulatory pressure has led to a significant increase in administrative work, a shift toward formalistic and quantitative reporting, and a sense of reduced autonomy, which often negatively impacts intrinsic motivation.
What role does the "trust scale" play in this study?
The "trust scale" is a conceptual tool developed to evaluate the deviation between objective facts found in the literature and the subjective opinions expressed by interviewees, helping to validate the reliability of qualitative insights.
- Citar trabajo
- Dr. Johann Zweigardt (Autor), 2022, Regulatory Influence on Business Model and Individual Behaviour in a European Multinational Bank, Múnich, GRIN Verlag, https://www.grin.com/document/1291167
