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influences their market valuations. We find that there is a diversification discount: The market …not sufficiently large to produce a diversification premium …
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valuations. We find that there is a diversification discount: The marketvalues financial conglomerates that engage in multiple … indicate that economies of scope arenot sufficiently large to produce a diversification premium …
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of the traditional bank business model. Specialized providers of financial services can chip away activities that do not …
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of the traditional bank business model. Specialized providers of financial services can chip away activities that do not …
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