Internationalization of Banks (eBook)

Federica Sist is an Assistant Professor of Financial Markets and Institutions at the Department of Law, Economics, Politics and Modern Language, LUMSA University, Italy. She obtained her PhD in banking and finance from Tor Vergata University in 2008 and is a member of CERBE at LUMSA University. She served as a lecturer at Roma Tre from 2003 to 2009 in Finance, Business Administration and Internationalization. After serving in a legislative office for the government, since 2009 she has been a assistant professor at LUMSA University in Financial Markets and Institutions and Investment Banking. Her research interests include banking, internationalization of firms and banks (strategic alliances, ownership structure impact (family business and bank models)), gender impact (credit constraints and risks), social entrepreneurship, sustainable markets (securities bubbles), and fintech. She has  research projects in joint with Vaasa University in Finland, Middlesex University in the UK, Cardiff Business School in the UK, KU Leuven in the Netherlands, CNR, and Fordham University in New York.

Foreword 6
Acknowledgements 8
Contents 9
List of Figures 10
List of Tables 12
Chapter 1: Why and How: The Internationalization of the Banking Sector 13
1.1 Introduction 13
1.2 Why Do Banks Internationalize? 14
1.3 How Do Banks Internationalize? 16
1.3.1 Cross-Border Deals and Banking: Equity vs Non-equity 19
1.4 Conclusions 27
References 27
Chapter 2: Who? The Characteristics of Partners in International Deals 29
2.1 Introduction 29
2.2 The Relevance of Business Models, Ownership and Size of Bidder Banks 31
2.3 The Choice of Foreign Partners 33
2.4 The Cultural Fit as a (Dis)advantage 34
2.5 International Deals of European Banks 37
2.6 Conclusions 46
References 46
Chapter 3: When and Where? Drivers of Banks’ Internationalization from the  Destination Market 49
3.1 Introduction 49
3.2 Opportunities from Foreign Countries 50
3.3 Regulation and Reforms 52
3.3.1 Annex A? 56
3.4 Financial Integration of Markets 57
3.5 Conclusions 60
References 63
Chapter 4: What: Foreign Expansion of Banks After the Crises and Fintech Disruption 65
4.1 Introduction 65
4.2 The Factors Affecting Bank Activity Abroad in the Crises of 2007–2008 and 2011 66
4.3 The Role of Global Banks: Past and Future 68
4.4 The Impact of Fintech in Banks’ Geographical Expansion: International Deals with Technology 70
4.5 Conclusions 71
References 82
Annex A: Variables Relating to the Banking Sector of CEE Countries 84
Annex B: Bank Stability in Europe in 2002, 2007 and 2015, by World Bank Database 91
References 100
Index 106