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The single European Market, the Second Banking Directive, relaxation of cross-border capital and funds movements and the possible introduction of a single European currency have led most corporations to adopt new cash management strategies, or to plan for major structural changes in the near future. This book focuses upon treasury and electronic banking practices in European Cash Management. It is based upon research done by 19 leading European Business Schools and practitioners involved in planning, gathering and analysing data and will include discussion of recent themes and issues.

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CONTENTS

Foreword / by Professor Cyril Tomkins = xi

Notes on the Contributors = xiii

Preface = xix

List of Abbreviations = xxiv

1 GlobalCash-Europe96 / David Middleton = 1

 Introduction = 1

 Background : why conduct GlobalCash-Europe96? = 1

 The topics tackled in GlobalCash-Europe96 = 4

 Conclusions = 7

 Appendix : detailed list of GlobalCash-Europe96 survey topics = 7

2 Security of Computerised Cash Management / Tony de Caux ; Anthony Walsh = 11

 Introduction = 11

 Computer-based treasury system control concerns = 12

 The basis for control in computer-based treasury systems = 14

 Internal control system for computerised systems = 16

 Logical access control of electronic funds transfers = 20

 Role of the internal audit = 27

 Insurance cover = 29

 Conclusions = 29

 Appendix : mini case studies in computer-based treasury system control = 30

3 Development Prospects in International Cash Management : What Future for the Corporate Bank? / Wolfgang Gerke ; Gabriele Pfeufer- Kinnel ; Alexander Burrak = 33

 Introduction = 33

 Stages of development in cash management and financial management of international companies = 33

 Results from Global Cash- Europe96 : procedures in European countries = 35

 The foundation of corporate banks : advantages and distribution across Europe = 39

 Consideration of the theory of inherent development processes = 41

 Conclusions = 45

4 Foreign Bank Entry into the Cash Management Markets of Central and Eastern Europe / Susan Scott- Green = 49

 Introduction = 49

 Banking and finance in Poland, Hungary and the Czech Republic = 49

 Banking infrastructure = 52

 Foreign banks in Poland, Hungary and the Czech Republic = 54

 Cash management in Poland, Hungary and the Czech Republic = 58

 Foreign banks in the region's cash management sectors = 59

 Conclusions = 62

5 The Management of International Cash Transactions and Associated Foreign Exchange Transactions / Goran Bergendahl ; Anthony Birts = 65

 Introduction = 65

 International cash management = 66

 Areas in which foreign exchange is associated with cash management = 68

 The structure and practice of international cash management = 69

 The UK and Swedish corporate survey : GlobalCash-Europe96 = 70

 Conclusions = 81

6 Cash Management Market Segmentation / David F. Birks ; Anthony Birts = 83

 Introduction = 83

 Market segmentation = 85

 Changes planned in European companies over the next two years = 88

 Attitudinal differences in the four identified segments = 98

 Differences in quality issues = 100

 Classification differences in the four identified segments : microsegment analyses set in the macroenvironment context = 103

 Conclusions = 107

7 Choosing a Cash Management Bank : Customer Criteria and Bank Strategies / Per Nikolaj D. Bukh ; Niels Peter Mols ; Per Blenker = 110

 Introduction = 110

 The marketing of services and criteria for buying = 111

 Relationship marketing and bank strategies = 114

 GlobalCash-Europe96 data = 117

 The choice of domestic and pan-European banks = 118

 Conclusions = 126

8 Choosing a Domestic Cash Management Bank / David F. Birks ; Anthony Birts = 130

 Introduction = 130

 Individual criteria in choosing to do business with a domestic cash management bank = 131

 Comparing individual criteria between different countries = 133

 Connections between criteria = 139

 Patterns of perception of domestic cash management services = 141

 Conclusions = 144

9 Customer Relationships : Virtual Banking and Cash Management Services in Italy / Elisabetta Gualandri ; Anna Omarini = 146

 Introduction = 146

 The main features of the bank／customer relationship in Italy = 147

 Italian banks' approach to information and communications technology and the development of virtual banking channels = 150

 Empirical evidence from GlobalCash-Europe96 = 161

 Conclusions = 170

10 Service Quality in Domestic Cash Management Banks / David F. Birks ; Anthony Birts = 175

 Introduction = 175

 Perspectives of service quality = 176

 Individual cash management quality criteria = 180

 Comparing service quality in different countries and industries = 183

 Connections between service quality criteria = 190

 Patterns of perceiving service quality in domestic banks = 193

 Service quality expectations versus service delivery = 197

 ISO definitions of quality = 200

 Conclusions = 202

11 Service Quality in an International Cash Management Environment / Gunnar Senum ; David F. Birks = 296

 Introduction = 206

 The impact of service quality on profitability = 207

 Levitt's 'four rings' model = 210

 The SERVQUAL model = 213

 Responses to Levitt's 'four rings' model = 214

 Responses to the SERVQUAL model = 215

 Conclusions = 218

12 Quality and Duration of Bank Relationships / Steven Ongena ; David Smith = 224

 Introduction = 224

 Cash management in Norway = 225

 Bank relationships in Norway = 230

 Conclusions = 233

 Appendix : estimator for the survivor function = 234

13 Researching Cash Management, Treasury and Electronic Banking Practices / David F. Birks = 236

 Introduction = 236

 An overview of the methodology = 237

 Characteristics of the respondents = 242

 The 'interplay' of quantitative and qualitative methods used in GlobalCash-Europe96 = 245

 An overview of the key problems involved in conducting research in 19 countries = 249

 Conclusions = 254

Index = 257