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Competitive Positioning in International Financial Services

Competitive Positioning in International Financial Services New York University Market and product interpenetration in the international financial services industry has been proceeding in recent years at a rapid pace, driven by financial innovation, securitization of international capital flows, and continued evolution of offshore capital markets. All have induced significant competitive and structural changes in the industry, both internationally and within various national financial markets. In an environment in which regulatory authorities are re-balancing the static and dynamic efficiency properties against the stability characteristics of their domestic financial systems, individual institutions are forced to reexamine their corporate strategies and their chances for survival and growth. In the 1980s financial disintermediation and securitization have put ultimate savers and ultimate investors within direct reach of each other through the money and capital markets. Institutions that are in the business of originating, underwriting, and distributing an ever wider range of securities and managing investors’ assets have made it possible for individuals, companies and countries to become increasingly independent of traditional banking relationships. Major corporations have become highly sophisticated financially, and some have set up in-house capabilities to provide financial services they formerly bought from banks and securities firms. A few have even penetrated the financial services business itself, http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of International Financial Management & Accounting Wiley

Competitive Positioning in International Financial Services

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References (14)

Publisher
Wiley
Copyright
Copyright © 1989 Wiley Subscription Services, Inc., A Wiley Company
ISSN
0954-1314
eISSN
1467-646X
DOI
10.1111/j.1467-646X.1989.tb00002.x
Publisher site
See Article on Publisher Site

Abstract

New York University Market and product interpenetration in the international financial services industry has been proceeding in recent years at a rapid pace, driven by financial innovation, securitization of international capital flows, and continued evolution of offshore capital markets. All have induced significant competitive and structural changes in the industry, both internationally and within various national financial markets. In an environment in which regulatory authorities are re-balancing the static and dynamic efficiency properties against the stability characteristics of their domestic financial systems, individual institutions are forced to reexamine their corporate strategies and their chances for survival and growth. In the 1980s financial disintermediation and securitization have put ultimate savers and ultimate investors within direct reach of each other through the money and capital markets. Institutions that are in the business of originating, underwriting, and distributing an ever wider range of securities and managing investors’ assets have made it possible for individuals, companies and countries to become increasingly independent of traditional banking relationships. Major corporations have become highly sophisticated financially, and some have set up in-house capabilities to provide financial services they formerly bought from banks and securities firms. A few have even penetrated the financial services business itself,

Journal

Journal of International Financial Management & Accounting – Wiley

Published: Mar 1, 1989

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