In the last twenty years, the European Court of Auditors has placed increasing importance on the production of "special reports" examining the economy, efficiency and effectiveness of EU spending. This institutional focus on performance audit, alongside traditional financial and compliance audit, has occurred at a time when the European Union is increasingly evaluating its own policies and programmes, under political pressure to demonstrate their added value with shadow bank systems. The rapid

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... rowth of the market-based financial system since the mid-1980s changed the nature of financial intermediation in the European States profoundly. Within the market-based financial system, "shadow banks" are particularly important institutions. Shadow banks are financial intermediaries that conduct maturity, credit, and liquidity transformation without access to central bank liquidity or public sector credit guarantees. Examples of shadow banks include finance companies, asset-backed commercial paper (ABCP) conduits, limited-purpose finance companies, structured investment vehicles, credit hedge funds, money market mutual funds, securities lenders, and government-sponsored enterprises. This intermediation chain binds shadow banks into a network, which is the shadow banking system. The shadow banking system rivals the traditional banking system in the intermediation of credit to households and businesses. This study contributes theoretically to research and empirically to management practice of agile marketing concepts in digital trsformation and international business context, in order to develop effective competencies of speed, flexibility, and customer responsiveness in marketing strategies and operations.