This article designs a framework for evaluating the causes, consequences, and future implications of financial services industry consolidation, reviews the extant research literature within the context of this framework (over 250 references), and suggests fruitful avenues for future research....

This article evaluates the causes, consequences, and future implications of financial services industry consolidation using a value maximization framework. We also reviews the extant research literature within the context of this framework (over 250 references), and suggest future research...

This article designs a framework for evaluating the causes, consequences, and future implications of financial services industry consolidation, reviews the extant research literature within the context of this framework (over 250 references), and suggests fruitful avenues for future research....

[...]In this article, we explore the relationship betweenfranchise value and risk taking over the 1986-94 period.We extend Keeley’s empirical analysis by estimating theeffect of franchise value on a variety of measures of bankrisk. We find an inverse relationship between franchisevalue and an...