Francesca Arnaboldi | Università degli Studi di Milano - State University of Milan (Italy) (original) (raw)
Related Authors
Jomo Kenyatta University of Agriculture and Technology
Uploads
Papers by Francesca Arnaboldi
International Review of Economics, 2009
Financial innovation in banking has been a relevant topic since mid '70s. Nowadays, also due to t... more Financial innovation in banking has been a relevant topic since mid '70s. Nowadays, also due to the present financial systems situation, it comes to further relevance. In the first part of the paper, we try to clearly identify the phenomenon and draw a general framework. Despite the relevance of financial innovation, a unique definition is hard to find. We then provide empirical evidence of such innovations on a sample of European listed banks (Euronext, London Stock Exchange and Borsa Italiana) over the period 2005-2008 using annual reports information. First the absence of mentions of a specific organizational unit in charge of research and development is highlighted. However, the existence of an R&D function involving different organizational units cannot be excluded. Second, innovation seems to be mainly concentrated in the product area, in all stock exchanges considered. This could be accounted for by the difference in the "life cycles" of innovations and by the different operational conditions of banks in all systems. Third, larger banks seem more innovative. No clear relation between innovation and cost reduction/revenue increase seems to exist instead, in all countries. In the light of the above considerations, policy implication comes to light, on whether the choice of not establishing a specific organizational unit dedicated to R&D could turn out effective in the medium-long term.
V Research Institute of …, Jan 1, 2008
A key strategic issue for banks is the implementation of internet banking. The 'click and mortar'... more A key strategic issue for banks is the implementation of internet banking. The 'click and mortar' model that complements classical branch banking with online facilities is competing with pure internet banks. The objective of this paper is to compare the performance of these two models across countries, so as to examine the role of differences in the banking system and technological progress. A fuzzy cluster analysis on the performance of banks in Finland, Spain, Italy and the UK shows that internet banks are hard to distinguish from banks that follow a click and mortar strategy; country borders are more important. We therefore explain bank performance by a group of selected bank features, country-specific economic and IT indicators over the period 1995-2004. We find that the strategy of banking groups to incorporate internet banks reflects some competitive edge that these banks have in their business models. Extensive technological innovation boosts internet banking. .
International Review of Economics, 2009
Financial innovation in banking has been a relevant topic since mid '70s. Nowadays, also due to t... more Financial innovation in banking has been a relevant topic since mid '70s. Nowadays, also due to the present financial systems situation, it comes to further relevance. In the first part of the paper, we try to clearly identify the phenomenon and draw a general framework. Despite the relevance of financial innovation, a unique definition is hard to find. We then provide empirical evidence of such innovations on a sample of European listed banks (Euronext, London Stock Exchange and Borsa Italiana) over the period 2005-2008 using annual reports information. First the absence of mentions of a specific organizational unit in charge of research and development is highlighted. However, the existence of an R&D function involving different organizational units cannot be excluded. Second, innovation seems to be mainly concentrated in the product area, in all stock exchanges considered. This could be accounted for by the difference in the "life cycles" of innovations and by the different operational conditions of banks in all systems. Third, larger banks seem more innovative. No clear relation between innovation and cost reduction/revenue increase seems to exist instead, in all countries. In the light of the above considerations, policy implication comes to light, on whether the choice of not establishing a specific organizational unit dedicated to R&D could turn out effective in the medium-long term.
V Research Institute of …, Jan 1, 2008
A key strategic issue for banks is the implementation of internet banking. The 'click and mortar'... more A key strategic issue for banks is the implementation of internet banking. The 'click and mortar' model that complements classical branch banking with online facilities is competing with pure internet banks. The objective of this paper is to compare the performance of these two models across countries, so as to examine the role of differences in the banking system and technological progress. A fuzzy cluster analysis on the performance of banks in Finland, Spain, Italy and the UK shows that internet banks are hard to distinguish from banks that follow a click and mortar strategy; country borders are more important. We therefore explain bank performance by a group of selected bank features, country-specific economic and IT indicators over the period 1995-2004. We find that the strategy of banking groups to incorporate internet banks reflects some competitive edge that these banks have in their business models. Extensive technological innovation boosts internet banking. .