Valuing financial conglomerates. Stylised factors and new evidence from financial crises

Indice
Claudia Curi, Introduction
Financial conglomerates: definition, historical aspects, and corporate structure
(What is a financial conglomerate?; Main determinants of financial conglomerates; Corporate structure of financial conglomerate; Risk(s) in financial conglomerates)
The economics of financial conglomerates
(Scale and scope economies; Universal banking model; Government subsides; Empirical evidence on scale and scope economies; Empirical evidence on diversification strategies; Conclusions)
Diversification discount in financial conglomerates
(Is there a diversification discount in non-financial conglomerates?; Is the "diversification discount" a relevant topic in financial conglomerates?; Measuring diversification discount in financial conglomerates; Empirical evidence on the existence of diversification discount; Conclusions)
Studying the diversification discount: empirical evidence from the financial crises on a worldwide sample
(Introduction; Data and sample set; Did the value of diversification increase during the financial crises?; Conclusions)
Conclusions
References.