The Changing Landscape of the European Financial Services Sector

Bertrand Quelin, Bert Flier, Frans Van Den Bosch, Henk W. Volberda, Carlo A. Carnevale, Neil Tomkin, Leif Melin and Mark P. Krieger

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Abstract: The European financial services sector is confronted with major forces that have changed its competitive dynamics and the strategic context. Firstly, we investigate the pace of the diffusion of two forces for strategic renewal (technological innovations and regulatory changes); secondly, we assess similarities in the pace of diffusion across countries; and thirdly, we assess the impact of these developments on the European financial landscape, focusing on five EU countries from 1990 to 1999. Preliminary findings suggest that country-specific patterns of diffusion have decreased substantially, indicating the emergence of industry-generic patterns of diffusion, while the speed of diffusion is increasing within the sector. This will give rise to a hyper-competitive landscape in the beginning of this century. Understanding the emergence of such landscapes creates important managerial challenges for the strategic renewal journeys of both incumbent firms and new entrants, in the financial services sector and in sectors confronted with similar developments

Keywords: Financial services industry; financial institution; strategic management (search for similar items in EconPapers)
Date: 2001-04-01
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Citations: View citations in EconPapers (6)

Published in Long Range Planning, 2001, Vol. 34, n° 2, pp. 179-207. ⟨10.1016/S0024-6301(01)00029-2⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00459864

DOI: 10.1016/S0024-6301(01)00029-2

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