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9780312225643

Strategic Challenges in European Banking

by ; ; ; ;
  • ISBN13:

    9780312225643

  • ISBN10:

    0312225644

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 1999-12-01
  • Publisher: Palgrave Macmillan

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Summary

This volume evolved out of a September 1996 conference, which brought together an array of European economic scholars to discuss many of the issues shaping the development of European banking. Following an introduction by Gardener (banking and finance, U. of Wales at Bangor) and Falzon (banking and finance, U. of Malta), the first chapters examine topical issues in bank strategies, such as efficiency and cost management, competition, relationship banking, and the differences between public and private banks. The concluding chapters explore issues specific to the European Monetary Union, such as bank regulation, and the role of central bank independence.

Table of Contents

List of Tables
xi(2)
List of Figures
xiii(1)
Preface and Acknowledgements xiv(4)
Notes on the Contributors xviii(5)
Synopses of Contributions xxiii
1 Introduction: The Malta Connection
1(7)
Joe Falzon
Edward P. M. Gardener
1. Background
1(1)
2. Sponsors
1(1)
3. Malta's role in Economic and Monetary Union
2(6)
2 Cost Economies and Efficiency in EU Banking Systems
8(33)
Yener Altunbas
Edward P.M. Gardener
Philip Molyneux
1. Introduction
9(1)
2. Scale and scope economies: a brief literature review
9(3)
3. Methodology
12(4)
4. Data and results
16(14)
4.1 Scale economies
16(4)
4.2 Expansion path subadditivity
20(2)
4.3 X-efficiency
22(8)
5. Conclusion
30(11)
3 Relative Efficiencies and Productivity Indices: An Empirical Investigation of the Banking Sectors in Eight European Countries
41(29)
Margaret Brown
Summary
41(1)
1. Introduction
41(1)
2. Total factor productivity: an activity analysis approach
42(5)
2.1 Measuring differences and changes in productivity
42(1)
2.2 Basic concepts
43(2)
2.3 Defining and calculating Malmquist indices
45(2)
3. Application to the EU banking sector
47(4)
4. Results of the analysis
51(12)
4.1 Data distributions
51(1)
4.2 Malmquist indices and decompositions
51(6)
4.3 Relative efficiencies and scale efficiencies
57(2)
4.4 Efficiencies relative to a European best-practice frontier
59(4)
5. Conclusions and limitations
63(7)
5.1 Data limitations
63(1)
5.2 Methodology
64(1)
5.3 Conclusion
64(6)
4 The Effects of Alternative Financial System Models on Corporate Governance
70(42)
Pablo de Andres-Alonso
Valentin Azofra-Palenzuela
Felix J. Lopez Iturriaga
Jose Miguel Rodriguez-Fernandez
1. Introduction
70(3)
2. Ownership, concentration and distribution of equity
73(4)
3. Debt ownership
77(2)
4. The payoffs structure
79(3)
5. Financial organisation model and real economy
82(7)
5.1 Corporate capital investment
84(1)
5.2 R & D expenses
84(2)
5.3 The structure of assets
86(2)
5.4 Economic performance and volatility
88(1)
6. Final remarks
89(23)
5 Market Share Dynamics and Instruments of Competition in the Portuguese Deposits Market
112(9)
Paulo Soares de Pinho
1. Introduction
113(1)
2. The model
113(2)
3. Estimation and data
115(2)
3.1 Data
115(1)
3.2 Estimation
116(1)
4. Results
117(3)
4.1 Static model
117(1)
4.2 Dynamic model
118(2)
5. Conclusions
120(1)
6 Specialisation and Competitiveness of the Spanish Savings Banks, 1984-95
121(31)
Jose Manuel Pastor
Francisco Perez
1. The savings banks and the new competition of the single market
121(4)
2. The specialisation of the savings banks: basic features
125(6)
3. Specialisation and evolution of markets
131(4)
4. Are there advantages in the specialisation of the savings banks?
135(5)
5. Specialisation in means of payment
140(3)
6. Efficiency and market shares
143(3)
7. Perspectives
146(6)
7 The Future of Relationship Banking
152(22)
Goran Bergendahl
Ted Lindblom
1. Why a study of relationship banking?
152(3)
2. Relationship forms
155(1)
3. Traditional relationship banking
156(2)
4. New developments in relationship banking
158(2)
5. How to identify and to stimulate relationships that are profitable
160(2)
6. How to define and measure relationship profitability
162(8)
7. Conclusions
170(4)
8 The Societal Responsibility of Banks: An Introduction to a Societal-Oriented Bank Management Theory
174(7)
Leo Schuster
1. Societal-oriented bank management as a research topic
174(1)
2. Societal responsibility in business administration
174(1)
3. Requirements of bank management vis-a-vis a theory of societal responsibility
175(1)
4. Alternative approaches to the societal responsibility of banks
176(3)
5. The problem of realisation of the concept of societal responsibility
179(2)
9 Adaptive Strategies by European Savings Banks: A Case Study of Spain
181(30)
Santiago Carbo
Edward P. M. Gardener
Philip Molyneux
Jonathan Williams
1. Introduction
181(1)
2. Structural and strategic analysis
182(12)
2.1 Structural overview
182(1)
2.2 Select performance indicators
183(4)
2.3 Broad strategic shifts: the question of scale
187(1)
2.4 Savings banks in the New Europe
188(2)
2.5 Adaptive strategies summarised
190(4)
3. Adaptive strategies: implications for Spain
194(14)
3.1 Spanish savings banks compared with the EU and the Spanish private banks
194(4)
3.2 Environmental and strategic issues of the Spanish savings banks
198(3)
3.3 Implications, recommendations and policy issues for Spain
201(7)
4. Conclusions
208(3)
10 Public Banks in France: Current Problems and Prospective Issues
211(14)
Joel Metais
1. Introduction
211(1)
2. Public banks in France: a brief overview
212(1)
3. The regulatory framework and competitive environment
213(2)
4. The poor performance of the public banks: some preliminary reflections
215(5)
5. Restructuring the French credit system is now unavoidable
220(2)
6. Conclusion
222(3)
11 Economic and Monetary Union and Single Currency in Europe: Repercussions on Capital Markets and Stock Exchanges
225(23)
Francesco Cesarini
1. Preliminary remarks
225(1)
2. Main effects of EMU
226(2)
3. Foreign exchange markets
228(1)
4. Bond markets
229(3)
5. Equity markets
232(2)
6. Derivatives markets
234(3)
7. Integration and concentration of securities markets
237(3)
8. Strategies of market-managing bodies
240(2)
9. The impact on the strategies and the organisation of intermediaries
242(3)
10. Concluding remarks
245(3)
12 European Monetary Union: Issues in Supervision
248(28)
Elisabetta Gualandri
1. Introduction
248(3)
2. The consequences of EMU for the structure of and competition within the European financial system
251(6)
3. The implications in terms of supervision
257(3)
4. The state of the art in supervision
260(10)
4.1 The EU directives
260(3)
4.2 Supervision procedures
263(1)
4.3 The EU monetary authorities and the supervisory function
264(3)
4.4 Crisis management: the function of lender of last resort
267(2)
4.5 Investment services
269(1)
5. Unsolved problems
270(6)
13 The Role of Independence in the European System of Central Banks: A Sufficient Condition for a Robust European Monetary Union?
276(17)
Andrew Ellul
1. Introduction
276(1)
2. ESCB structure
277(3)
3. Central Bank independence
280(2)
4. ESCB independence
282(6)
4.1 Price stability
284(1)
4.2 ESCB reputation
285(3)
5. Political consensus
288(2)
6. Conclusions
290(3)
14 EU, EMU and the Central and Eastern European Countries
293(10)
Sandor Ligeti
1. The transition to EMU
293(1)
2. EMU convergence criteria
294(1)
3. The prospects for EMU
295(3)
4. Central and Eastern Europe and EMU
298(1)
5. Hungary and EMU
299(2)
6. Summary
301(2)
15 EMU, Adjustment and the Peripheral Regions: An Overview of Policy Issues
303(14)
Joe Falzon
1. Regional differences
303(3)
2. Maastricht criteria
306(1)
3. Real criteria
307(1)
4. Characteristics of a currency area
307(1)
5. Benefits and costs of EMU
308(3)
6. EMU and potential regional effects
311(1)
7. Fiscal policy in a monetary union
312(1)
8. Stabilisation under EMU
313(1)
9. Conclusion
313(4)
Index 317

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