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The Changing Landscape of the European Financial Services Sector

Author

Listed:
  • Bertrand Quélin

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

  • Bert Flier
  • Frans A.J. van den Bosch
  • Henk W. Volberda
  • Carlo A. Carnevale
  • Neil Tomkin
  • Leif Melin
  • Mark P. Krieger

Abstract

The European financial services sector is confronted with major forces that have changed its competitive dynamics and the strategic context. Firstly, we investigate the pace of the diffusion of two forces for strategic renewal (technological innovations and regulatory changes); secondly, we assess similarities in the pace of diffusion across countries; and thirdly, we assess the impact of these developments on the European financial landscape, focusing on five EU countries from 1990 to 1999. Preliminary findings suggest that country-specific patterns of diffusion have decreased substantially, indicating the emergence of industry-generic patterns of diffusion, while the speed of diffusion is increasing within the sector. This will give rise to a hyper-competitive landscape in the beginning of this century. Understanding the emergence of such landscapes creates important managerial challenges for the strategic renewal journeys of both incumbent firms and new entrants, in the financial services sector and in sectors confronted with similar developments

Suggested Citation

  • Bertrand Quélin & Bert Flier & Frans A.J. van den Bosch & Henk W. Volberda & Carlo A. Carnevale & Neil Tomkin & Leif Melin & Mark P. Krieger, 2001. "The Changing Landscape of the European Financial Services Sector," Post-Print hal-00459864, HAL.
    • Handle: RePEc:hal:journl:hal-00459864
    DOI: 10.1016/S0024-6301(01)00029-2
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    Citations

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    Cited by:

    1. Tom J. M. Mom & Frans A. J. van den Bosch & Henk W. Volberda, 2009. "Understanding Variation in Managers' Ambidexterity: Investigating Direct and Interaction Effects of Formal Structural and Personal Coordination Mechanisms," Organization Science, INFORMS, vol. 20(4), pages 812-828, August.
    2. Abatecola, Gianpaolo & Breslin, Dermot & Kask, Johan, 2020. "Do organizations really co-evolve? Problematizing co-evolutionary change in management and organization studies," Technological Forecasting and Social Change, Elsevier, vol. 155(C).
    3. Catarina Figueira & Joseph Nellis, 2009. "Bank merger and acquisitions activity in the EU: much ado about nothing?," The Service Industries Journal, Taylor & Francis Journals, vol. 29(7), pages 875-886, July.
    4. Purohit, Sonal & Paul, Justin & Mishra, Rikee, 2021. "Rethinking the bottom of the pyramid: Towards a new marketing mix," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).
    5. Johan Fourie & Dieter von Fintel, 2009. "World Rankings of Comparative Advantage in Service Exports," Working Papers 03/2009, Stellenbosch University, Department of Economics.
    6. Zagorchev, Andrey & Vasconcellos, Geraldo & Bae, Youngsoo, 2011. "Financial development, technology, growth and performance: Evidence from the accession to the EU," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 21(5), pages 743-759.

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