Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/57662 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorReichert, Alan K.en
dc.contributor.authorWall, Larry D.en
dc.contributor.authorLiang, Hsin-yuen
dc.date.accessioned2012-04-30T12:30:58Z-
dc.date.available2012-04-30T12:30:58Z-
dc.date.issued2008-
dc.identifier.citation|aEconomic Review|c0732-1813|v93|nFederal Reserve Bank of Atlanta|lAtlanta, GA|y2008en
dc.identifier.urihttp://hdl.handle.net/10419/57662-
dc.description.abstractIn the first part (in the previous issue of Economic Review) of this two-part study, the authors identified a number of possible benefits from combining banking and commerce, including portfolio diversification, the creation of internal capital markets, and economies of scale and scope. This second part of the study analyzes the one source of possible gainsportfolio diversificationthat can be estimated with existing data. Using methodologies from previous studies, the authors combine ten financial and nonfinancial industries into hypothetical portfolios using industry-level profitability data calculated from corporate tax returns filed with the Internal Revenue Service between 1994 and 2004. The analysis demonstrates that pairwise combinations of banks with construction firms or with retail firms would have produced substantially higher returns on equity with less risk during the sample period. Efficient portfolios combining banks with several other industries showed even higher levels of returns relative to risk, although banks were not necessarily a dominant part of some combinations. These findings suggest that portfolio diversification could be an important benefit from combining banks with some types of nonbank firms. The authors stress that bank management contemplating diversification into the commercial sector must be selective about which specific industries they choose, while corporate management interested in moving into banking might need to settle for somewhat lower returns to achieve a substantial reduction in risk.en
dc.language.isoengen
dc.publisher|aFederal Reserve Bank of Atlanta |cAtlanta, GAen
dc.subject.jelG21en
dc.subject.jelG34en
dc.subject.jelG28en
dc.subject.ddc330en
dc.subject.keywordbanking and commerceen
dc.subject.keywordportfolio diversificationen
dc.subject.stwBanken
dc.subject.stwHandelen
dc.subject.stwBankrechten
dc.subject.stwDeregulierungen
dc.subject.stwDiversifikationen
dc.subject.stwRentabilitäten
dc.subject.stwUSAen
dc.titleThe Final Frontier: The Integration of Banking and Commerce. Part 2: Risk and Return Using Efficient Portfolio Analysis-
dc.typeArticleen
dc.identifier.ppn602145120en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
econstor.citation.journaltitleEconomic Reviewen
econstor.citation.issn0732-1813en
econstor.citation.volume93en
econstor.citation.seriesnumber2en
econstor.citation.publisherFederal Reserve Bank of Atlantaen
econstor.citation.publisherplaceAtlanta, GAen
econstor.citation.year2008en

Datei(en):
Datei
Größe
313.52 kB





Publikationen in EconStor sind urheberrechtlich geschützt.