Froud, J., Tischer, D. orcid.org/0000-0003-3180-7862 and Williams, K. (2017) It is the business model… reframing the problems of UK retail banking. Critical Perspectives on Accounting, 42. pp. 1-19. ISSN 1045-2354
Abstract
This paper introduces and applies the concept of critical business model analysis to explore dysfunctional behaviour in the UK retail banking sector and to outline possible policy approaches. The paper starts from the conventional micro-economic framing of banking as the outcome of insufficiently competitive markets, yet after two decades of policy responses the sector is not only more concentrated but also homogeneous, dominated by financialized organisations focused on sustaining high rates of return on equity. Critical business model analysis is used to reframe the banking sector as one based on mimetic behaviours, including mis-selling of financial products and opaque charging. In doing so, the paper contributes to the public debate on the reform of retail banking by highlighting the potential importance of a wider diversity of business models within the sector as a way of offering customers a different choice and limiting the scope of financialized practices.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2016 Elsevier Ltd. This is an author produced version of a paper subsequently published in Critical Perspectives On Accounting. Uploaded in accordance with the publisher's self-archiving policy. Article available under the terms of the CC-BY-NC-ND licence (https://creativecommons.org/licenses/by-nc-nd/4.0/). |
Keywords: | Critical business model; UK retail banking; Competition; Shareholder value; Stakeholder credibility; Financialization |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 03 Mar 2022 09:29 |
Last Modified: | 05 Mar 2022 05:54 |
Status: | Published |
Publisher: | Elsevier BV |
Refereed: | Yes |
Identification Number: | 10.1016/j.cpa.2016.04.001 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:184251 |