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Edoardo Altamura

Gästforskare

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Commercial and Financial Services

Författare

  • Mats Larsson
  • Edoardo Altamura
  • Youssef Cassis

Redaktör

  • Youssef Cassis
  • Andrea Colli
  • Harm Schröter

Summary, in English

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.

Publiceringsår

2016

Språk

Engelska

Publikation/Tidskrift/Serie

The Performance of European Business in the 20th Century

Dokumenttyp

Del av eller Kapitel i bok

Förlag

Oxford University Press

Ämne

  • Economic History

Status

Published

ISBN/ISSN/Övrigt

  • ISBN: 9780198749776