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Commercial and Financial Services

Larsson, Mats ; Altamura, Edoardo LU and Cassis, Youssef (2016)
Abstract
This chapter deals with the performance of commercial and financial services in Europe. Companies in both sectors have undergone considerable concentration in all analysed countries, but those from Great Britain, Germany, and France emerged as the largest companies in Europe from the early twentieth century onwards. Most impressive, however, has been the expansion of the size and business of banks. The ‘financialization’ of the global economy has resulted in much larger companies, not only in the three leading European economies, but also in the smaller countries. Return on equity was overall higher and more stable for banks than commercial companies. Only in the early 1970s did the latter perform on average better than the former. In the... (More)
This chapter deals with the performance of commercial and financial services in Europe. Companies in both sectors have undergone considerable concentration in all analysed countries, but those from Great Britain, Germany, and France emerged as the largest companies in Europe from the early twentieth century onwards. Most impressive, however, has been the expansion of the size and business of banks. The ‘financialization’ of the global economy has resulted in much larger companies, not only in the three leading European economies, but also in the smaller countries. Return on equity was overall higher and more stable for banks than commercial companies. Only in the early 1970s did the latter perform on average better than the former. In the late 1920s and at the turn of the twenty-first century, banks performed considerably better than commercial companies. (Less)
Please use this url to cite or link to this publication:
author
; and
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
host publication
The Performance of European Business in the 20th Century
editor
Cassis, Youssef ; Colli, Andrea and Schröter, Harm
publisher
Oxford University Press
ISBN
9780198749776
DOI
10.1093/acprof:oso/9780198749776.003.0014
language
English
LU publication?
no
id
aaf0d3e7-8bfb-443f-9594-787cb36c7949
date added to LUP
2018-01-13 16:43:40
date last changed
2018-11-21 21:37:20
@inbook{aaf0d3e7-8bfb-443f-9594-787cb36c7949,
  abstract     = {{This chapter deals with the performance of commercial and financial services in Europe. Companies in both sectors have undergone considerable concentration in all analysed countries, but those from Great Britain, Germany, and France emerged as the largest companies in Europe from the early twentieth century onwards. Most impressive, however, has been the expansion of the size and business of banks. The ‘financialization’ of the global economy has resulted in much larger companies, not only in the three leading European economies, but also in the smaller countries. Return on equity was overall higher and more stable for banks than commercial companies. Only in the early 1970s did the latter perform on average better than the former. In the late 1920s and at the turn of the twenty-first century, banks performed considerably better than commercial companies.}},
  author       = {{Larsson, Mats and Altamura, Edoardo and Cassis, Youssef}},
  booktitle    = {{The Performance of European Business in the 20th Century}},
  editor       = {{Cassis, Youssef and Colli, Andrea and Schröter, Harm}},
  isbn         = {{9780198749776}},
  language     = {{eng}},
  publisher    = {{Oxford University Press}},
  title        = {{Commercial and Financial Services}},
  url          = {{http://dx.doi.org/10.1093/acprof:oso/9780198749776.003.0014}},
  doi          = {{10.1093/acprof:oso/9780198749776.003.0014}},
  year         = {{2016}},
}