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| Author: | Collin, S-O. |
| Title: | Financial intermediation through markets and organizations: An information-boundary argument for financial organizations |
| Journal: | Scandinavian Journal of Management
1997 : JUN, VOL. 13:2, p. 175-189 |
| Index terms: | BUSINESS RATIOS INFORMATION TRANSACTION COSTS BANKS |
| Language: | eng |
| Abstract: | This paper argues that banks still have an institutional competitive advantage compared to other financial institutions such as the main markets, the credit markets and the stock markets. In an analysis based on the comparative logic of the transaction cost approach, the features of the different financial institutions can be highlighted and the rationale behind banks emerges. Banks are organizations created in order to protect investments in allocative competence. Although they reduce the duplication problem and offer a technology of risk diversification there are other organizations which also fulfil these functions. |
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