Despite the current trend toward refocusing on the core business, the empirical results on the conglomerate discount are conflicting and provide opposing implications to managers as to whether they should pursue diversification or not. Prior literature has employed various research designs, all...

Banks are unique in that they combine the production of liquid claims with loans. They can replicate most of what FinTech firms can do, but FinTech firms benefit from an uneven playing field in that they are less regulated than banks. The uneven playing field enables non-bank FinTech firms to...