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Network embeddedness, specialization choices and performance in investment banking industry

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  • Farina, Vincenzo

Abstract

The idea that network structure and embeddedness affect firms’ competitive behavior and performance is not new both in network literature and in strategic management literature. This study recognizes that the possibility to fully exploit network opportunities is depending on firm specialization choices. By analyzing network embeddedness within the European investment banking industry, I find that banks enhance performance by having a central position in their network and that specialization reduces bank’s benefits of having a central position in the network.

Suggested Citation

  • Farina, Vincenzo, 2008. "Network embeddedness, specialization choices and performance in investment banking industry," MPRA Paper 11701, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:11701
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    File URL: https://mpra.ub.uni-muenchen.de/11701/1/MPRA_paper_11701.pdf
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    References listed on IDEAS

    as
    1. Jay R. Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing, and Allocations," Journal of Finance, American Finance Association, vol. 57(4), pages 1795-1828, August.
    2. Chemmanur, Thomas J & Fulghieri, Paolo, 1994. " Investment Bank Reputation, Information Production, and Financial Intermediation," Journal of Finance, American Finance Association, vol. 49(1), pages 57-79, March.
    3. Almeida, Paul & Dokko, Gina & Rosenkopf, Lori, 2003. "Startup size and the mechanisms of external learning: increasing opportunity and decreasing ability?," Research Policy, Elsevier, vol. 32(2), pages 301-315, February.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Stefanelli, Valeria & Matteo, Cotugno, 2010. "An Empirical Analysis on Board Monitoring Role and Loan Portfolio Quality Measurement in Banks," MPRA Paper 29766, University Library of Munich, Germany.
    2. Golonka, Monika, 2011. "Uwarunkowania Kulturowe A Powiązania Międzyfirmowe W Sektorach Globalnych. Perspektywa Empiryczna
      [Culture Factors And Interfirm Ties In Global Sectors. Empirical Perspective]
      ," MPRA Paper 35492, University Library of Munich, Germany, revised 22 Oct 2011.
    3. repec:spr:scient:v:99:y:2014:i:1:d:10.1007_s11192-013-1094-5 is not listed on IDEAS

    More about this item

    Keywords

    Investment Banking; IPOs; Underwriting syndicates; Social network analysis;

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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