diversification, value creation and riskiness of financial intermediaries does not provide a unique answer. In this paper we analyze … crisis. Our evidence shows a positive and statistically significant effect of international diversification on both value and …

We examine the impact of the international diversification by banks on the value of their advice in 1,705 cross … announcement returns. A one standard deviation increase in advisor diversification is associated with a 92 basis points lower … effects of international diversification …

to improve bank solvency and risk-adjusted-performance. As diversification is seen as a necessary strategy to diversify …