haku: @author Allen, F. / yhteensä: 25
viite: 6 / 25
| Tekijä: | Allen, F. Santomero, A. M. |
| Otsikko: | What do financial intermediaries do? |
| Lehti: | Journal of Banking and Finance
2001 : FEB, VOL. 25:2, p. 271-294 |
| Asiasana: | BANKS FINANCIAL INTERMEDIARIES PARTICIPATION RISK MANAGEMENT FRANCE GERMANY JAPAN UNITED KINGDOM USA |
| Kieli: | eng |
| Tiivistelmä: | This paper presents evidence that the traditional banking business of accepting deposits and making loans has declined significantly in the US in recent years. There has been a switch from directly held assets to pension funds and mutual funds. However, banks have maintained their position relative to GDP by innovating and switching from their traditional business to fee-producing activities. A comparison of investor portfolios across countries shows that households in the US and UK bear considerably more risk from their investments than counterparts in Japan, France and Germany. |
SCIMA