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Universal banking: A shareholder value perspective

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  • Walter, Ingo

Abstract

Universal banks are multi-product firms in the financial services sector whose complexity is difficult to manage. Ingo Walter asks the question -- do they optimize invested capital? The author moves from book value to market value of equity by adjusting for value increases such as economies of scale and scope and better management (or decreases from conglomerate discount). He believes the potential value of shareholder equity can be released by management in universal banks following some simple rules, and offers concrete suggestions.

Suggested Citation

  • Walter, Ingo, 1997. "Universal banking: A shareholder value perspective," European Management Journal, Elsevier, vol. 15(4), pages 344-360, August.
  • Handle: RePEc:eee:eurman:v:15:y:1997:i:4:p:344-360
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    Cited by:

    1. Batiz-Lazo, Bernardo & Maixe-Altes, J. Carles & Thomes, Paul, 2010. "In Digital We Trust: The computerisation of retail finance in Western Europe and North America," MPRA Paper 26212, University Library of Munich, Germany.
    2. Holopainen, Helena, 2007. "Integration of financial supervision," Research Discussion Papers 12/2007, Bank of Finland.
    3. Anthony M. Santomero & David L. Eckles, 2000. "The determinants of success in the new financial services environment: now that firms can do everything, what should they do and why should regulators care?," Economic Policy Review, Federal Reserve Bank of New York, issue Oct, pages 11-23.
    4. Ruiz-Mallorquí, María Victoria & Santana-Martín, Domingo J., 2011. "Dominant institutional owners and firm value," Journal of Banking & Finance, Elsevier, vol. 35(1), pages 118-129, January.
    5. Bernardo Batiz-Lazo & Douglas Wood, 2002. "Strategy, Competition And Diversification In European And Mexican Banking," Industrial Organization 0211013, EconWPA.
    6. Cheng-Min Chuang & Chih-Pin Lin, 2008. "Social capital and cross-selling within financial holding companies in an emerging economy," Asia Pacific Journal of Management, Springer, vol. 25(1), pages 71-91, January.
    7. Anthony M Santomero & David L. Eckles, 2000. "The Determinants Of Success In the New Financial Services Environment: Now That Firms Can Do Everything, What Should They Do And Why Should Regulators Care?," Center for Financial Institutions Working Papers 00-32, Wharton School Center for Financial Institutions, University of Pennsylvania.
    8. Nadia Bensaci, 2008. "L’analyse de la banque selon le paradigme de la finance et l’examen du modèle de banque universelle en France," Revue d'Économie Financière, Programme National Persée, vol. 91(1), pages 127-142.

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