Yildirim, C. and Efthyvoulou, G. orcid.org/0000-0002-4473-0350 (2018) Bank Value and Geographic Diversification: Regional vs Global. Journal of Financial Stability, 36. pp. 225-245. ISSN 1572-3089
Abstract
This paper analyzes the impact of geographic diversification on bank value by employing a data set comprising the largest banks across the world, originating from both developed and emerging countries. The findings suggest that the value impact of international diversification depends on a bank’s home country: higher levels of diversification are associated with changes in valuations only for banks originating from emerging countries. In addition, the locus of destination of the diversification efforts matters for the direction of effects: while higher levels of intra-regional diversification lead to value enhancement, higher levels of inter-regional diversification seem to induce a negative (but statistically less robust) effect on the valuation of emerging country banks.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2018 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-NDlicense (http://creativecommons.org/licenses/by-nc-nd/4.0/). |
Keywords: | multinational banking; geographic diversification; bank value |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Economics (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 21 Mar 2018 11:08 |
Last Modified: | 09 May 2018 13:44 |
Published Version: | https://doi.org/10.1016/j.jfs.2018.04.003 |
Status: | Published |
Publisher: | Elsevier |
Refereed: | Yes |
Identification Number: | 10.1016/j.jfs.2018.04.003 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:128753 |