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Bank presence in firm equity: A diversification based approach

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  • María Victoria Ruiz-Mallorquí
  • Inmaculada Aguiar-Díaz
  • Diego R. Medina-Muñoz

Abstract

This study analyses the possible reasons for banks deciding to invest in firm equity, based on the fundamentals of the strategic diversification literature. Those fundamentals suggest that it may be in response to the negative evolution of other aspects of banking business, namely, credit business, fixed interest business and services, as well as the bank's level of efficiency. The results confirm the hypotheses that the decision to hold equity in other firms is related to the evolution of the bank's other businesses. However, the results for savings banks differed from those for banks.

Suggested Citation

  • María Victoria Ruiz-Mallorquí & Inmaculada Aguiar-Díaz & Diego R. Medina-Muñoz, 2006. "Bank presence in firm equity: A diversification based approach," The Service Industries Journal, Taylor & Francis Journals, vol. 26(7), pages 801-817, October.
    • Handle: RePEc:taf:servic:v:26:y:2006:i:7:p:801-817
    DOI: 10.1080/02642060600898377
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