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Product mix clubs, divergence and inequality of Spanish banking firms

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  • Francisco Perez
  • Emili Tortosa-Ausina

Abstract

The expansion and intensification of banking competition, undergone by the Spanish banking industry during the last 15 years, has allowed commercial banks and savings banks to more freely define their competitive strategies. This paper reports empirical evidence on the similarities and differences in banks product mixes along with their time evolution. In particular, it attempts to identify the different kinds of firms according to their output mixes and, on this basis, to analyse if the deregulation and increased competition have resulted into the homogenization (convergence) of specializations between firms or groups of firms (clubs). The empirical success is higher when product mix clubs are considered, achieving higher heterogeneity within the banking system as a whole but increased homogeneity within certain clusters of commercial banks and savings banks.

Suggested Citation

  • Francisco Perez & Emili Tortosa-Ausina, 2002. "Product mix clubs, divergence and inequality of Spanish banking firms," Applied Financial Economics, Taylor & Francis Journals, vol. 12(6), pages 431-445.
    • Handle: RePEc:taf:apfiec:v:12:y:2002:i:6:p:431-445
    DOI: 10.1080/09603100010001117
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    References listed on IDEAS

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    1. Emili Tortosa Ausina, 1999. "-Convergence In Efficiency Of The Spanish Banking Firms As Distribution Dynamics," Working Papers. Serie EC 1999-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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    Cited by:

    1. Tortosa-Ausina, Emili, 2002. "Exploring efficiency differences over time in the Spanish banking industry," European Journal of Operational Research, Elsevier, vol. 139(3), pages 643-664, June.

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