Report by Prof. Dr. Dr. h.c. Clemens Renker on Key Competences for Professional Success

Today we are witnessing rapid and radical changes in the banking system and new challenges require new responses.

What skills do bank employees need today to successfully cope with the professional challenges of a changing environment? What competencies are the key to competent goal setting, flexible planning and effective decision-making? Prof. Dr. Dr. h.c. Clemens Renker (University of Applied Sciences Zittau/Görlitz, answered these questions in his report.

Publication “Financial Literacy among Russian and German Students”, Epomen № 41

The article “Financial literacy among Russian and German students” by Gaar E., Dembinskayte V.S., Nikitina T.V., Skalaban M.P., Schiereck D. was published in Epomen № 41.

In July 2020, the results obtained within the joint Russian-German research project of the St. Petersburg State University of Economics (UNECON) and the Technical University of Darmstadt (TUD, Germany) were published.

The article presents a comparative analysis of the financial literacy level of students in Russia and Germany. The factors determining the financial competence are revealed. On the basis of regression models dependencies between socio-demographic indicators, education and level of financial literacy are found. Particular attention is paid to the need to improve financial literacy and awareness of long-term investments in order to ensure a decent standard of living after retirement.

In total 124 students answered the survey. Divided per country the sample consists of 65 German and 59 Russian respondents with at least a partly background in economics.

Project coordinators: Prof. Dr. Tatjana Nikitina, Department of Banks, Financial Markets and Insurance, Director of the Russian-German Center, Director of the International Center for Financial Markets Research (ICFMR, St. Petersburg State University of Economics); Prof. Dr. Dirk Schiereck, Department of Corporate Finance (TU Darmstadt, Germany).

Cooperation between universities has been going on for 25 years!

Reference in English:

Gaar E., Dembinskayte V.S., Nikitina T.V., Skalaban M.P., Schiereck D. Financial Literacy among Russian and German students // Epomen. 2020. No 41. Pp. 138-154. URL:

Clemens Renker: Das neue Dorf. Gestalten, um zu überleben – vier Handlungsfelder zum Erhalt von Dörfern. The new village. Designing to survive – four fields of action for the preservation of villages, SpringerGabler Verlag, Wiesbaden 2018.

The world’s first book that deals with the future of villages from the perspective of marketing management.

All over the world, people are moving to cities and metropolises. The villages are dying. It doesn’t have to be this way. In his new book, Professor Clemens Renker analyses what makes cities so attractive for people and what causes are decisive for the decline of villages. Based on this diagnosis, Professor Renker develops visions, positioning, strategies and action portfolios for the revival of villages. He shows the way to a new village in a holistic marketing model. The procedure is also very relevant for Russia. Professor Renker sees the Russian culture, the Russian soul and the striving for commonalities as a good basis for the redesign of Russian villages.

Renker, Clemens/Maiwald, Falk: Vorteilsstrategien des stationären Einzelhandels im Wettbewerb mit dem Onlinehandel. Advantage strategies of stationary retail in competition with online trade, pages 85-105 in: Digitalisierung im Vertrieb. Digitization in sales (Binckebanck/Elste Hrsg.) SpringerGabler Verlag, Wiesbaden 2016.

In this article, Professor Clemens Renker shows with which strategies and measures the stationary retail trade can successfully compete. However, the author recommends that the over-the-counter retail trade must integrate online trading into its business model in the future.

“Business Model Innovation in Banks. Robust business model through customer and employee centering”

Clemens Renker: Business Model Innovation in Banks. Robust business model through customer and employee centering, SpringerGabler Verlag, Wiesbaden 2018.

In Germany the savings banks, local cooperative banks, Raiffeisen banks and private banks are facing existential challenges. Clemens Renker clearly shows ten threats to the banks in practice. He illustrates potential developments based on balance sheets and forecasts. Clemens Renker shows at what levels and how the banks can completely reorganize their business model. This requires leaders as innovators, transformers or change managers who can shape a viable, future banking system. Agility and strategic flexibility are the core competencies required to secure a bank’s existence. The focus is on trust and competence centering all actions of a bank on customers.

Textbook “Portfolio investment: basic course”

UNECON’s team of authors in cooperation with colleagues from the University of Ghent (Belgium) published the textbook “Portfolio investment: basic course”.

The textbook is the result of many years of cooperation between the St. Petersburg State University of Economics (International Center for Financial Markets Research) and the Department of Banking and Finance, University of Ghent, Belgium.

The textbook is intended for the Master degree 080300 “Finance and Credit” of UNECON and St. Petersburg State University; PhD students and specialists dealing with investment portfolio; professors of related disciplines.

The textbook consists of six sections, including material from the basic concepts in the area of portfolio investment to management strategies and evaluation of investment portfolios of different instruments, including international investment portfolios. Explanation of theoretical material is provided by case studies, graphic illustrations.

At the end of each chapter, there is a list of terms and definitions for students to learn from this course.

An additional benefit to the reader is a list of financial terms and definitions (Glossary) on the topic of portfolio investment in English with translation and interpretation in Russian.

Published collection of reports

As a result of XV International Science PhD seminar “The impact of sanctions on the development of Russian and German financial markets”, 17-18 March 2015, we published a collection of the participants’ reports.

The collection includes reports on different topics such as the impact of sanctions on the banking and insurance sectors, economies of both countries, as well as pension savings, natural resources and investments issues.

The collection is published with the support of specialized endowment fund “Fund for support and development of the Saint-Petersburg state university of economics”.

Textbook “Financial markets and financial and credit institutions”

Within the framework of scientific work the International Centre for Financial market research published a textbook “Financial markets and financial and credit institutions”. Authors: Prof., Dr. Tatiana Nikitina and assistant Anna Repeta-Tursunova.

The textbook presents the theoretical basis and the current trends of financial markets and financial and credit institutions as well as actual statistical information on the world’s leading financial institutions.

The textbook is intended for the Master degree program 080300 “Finance and Credit”; post-graduate students and specialists involved in the development of financial markets and financial and credit institutions. It may be also interesting for professors of related disciplines.