{"id":"https://openalex.org/W1985163948","doi":"https://doi.org/10.1111/1540-6288.00004","title":"Winners and Losers as Financial Service Providers Converge: Evidence from the Financial Modernization Act of 1999","display_name":"Winners and Losers as Financial Service Providers Converge: Evidence from the Financial Modernization Act of 1999","publication_year":2002,"publication_date":"2002-02-01","ids":{"openalex":"https://openalex.org/W1985163948","doi":"https://doi.org/10.1111/1540-6288.00004","mag":"1985163948"},"language":"en","primary_location":{"id":"doi:10.1111/1540-6288.00004","doi":"https://doi.org/10.1111/1540-6288.00004","is_oa":false,"landing_page_url":"https://doi.org/10.1111/1540-6288.00004","pdf_url":null,"source":{"id":"https://openalex.org/S9351053","display_name":"Financial Review","issn_l":"0732-8516","issn":["0732-8516","1540-6288"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://autopapers.ssrn.com/sol3/papers.cfm?abstract_id=311279","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5020101196","display_name":"Robert J. Hendershott","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I16269868","display_name":"Santa Clara University","ror":"https://ror.org/03ypqe447","country_code":"US","type":"education","lineage":["https://openalex.org/I16269868"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Robert J. Hendershott","raw_affiliation_strings":["Santa Clara University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Santa Clara University","institution_ids":["https://openalex.org/I16269868"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5024103331","display_name":"Darrell E. Lee","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I172980758","display_name":"Kennesaw State University","ror":"https://ror.org/00jeqjx33","country_code":"US","type":"education","lineage":["https://openalex.org/I172980758"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Darrell E. Lee","raw_affiliation_strings":["Kennesaw State University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Kennesaw State University","institution_ids":["https://openalex.org/I172980758"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5084890583","display_name":"James G. Tompkins","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I172980758","display_name":"Kennesaw State University","ror":"https://ror.org/00jeqjx33","country_code":"US","type":"education","lineage":["https://openalex.org/I172980758"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"James G. Tompkins","raw_affiliation_strings":["Kennesaw State University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Kennesaw State University","institution_ids":["https://openalex.org/I172980758"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":2900,"currency":"USD","value_usd":2900},"apc_paid":null,"fwci":2.7224,"has_fulltext":false,"cited_by_count":45,"citation_normalized_percentile":{"value":0.91734677,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"37","issue":"1","first_page":"53","last_page":"72"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.51419997215271,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.51419997215271,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.20669999718666077,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.1793999969959259,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-liberalization","display_name":"financial liberalization","score":0.4699999988079071},{"id":"https://openalex.org/keywords/insurance-companies","display_name":"insurance companies","score":0.8180000185966492},{"id":"https://openalex.org/keywords/investment-banks","display_name":"investment banks","score":0.9919999837875366},{"id":"https://openalex.org/keywords/commercial-banks","display_name":"commercial banks","score":0.9990000128746033},{"id":"https://openalex.org/keywords/abnormal-returns","display_name":"abnormal returns","score":0.6679999828338623},{"id":"https://openalex.org/keywords/bank-size","display_name":"bank size","score":0.6000000238418579},{"id":"https://openalex.org/keywords/economies-of-scope","display_name":"economies of scope","score":0.6639999747276306}],"concepts":[{"id":"https://openalex.org/C139043278","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial services","level":2,"score":0.6667536497116089},{"id":"https://openalex.org/C165696696","wikidata":"https://www.wikidata.org/wiki/Q11287","display_name":"Exploit","level":2,"score":0.6557953357696533},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6251880526542664},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.5910069942474365},{"id":"https://openalex.org/C2777351106","wikidata":"https://www.wikidata.org/wiki/Q49371","display_name":"Legislation","level":2,"score":0.589719831943512},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5769463181495667},{"id":"https://openalex.org/C2778012447","wikidata":"https://www.wikidata.org/wiki/Q1034415","display_name":"Scope (computer science)","level":2,"score":0.5689210891723633},{"id":"https://openalex.org/C53844881","wikidata":"https://www.wikidata.org/wiki/Q856122","display_name":"Modernization theory","level":2,"score":0.5117949843406677},{"id":"https://openalex.org/C5600068","wikidata":"https://www.wikidata.org/wiki/Q21002696","display_name":"Broker-dealer","level":3,"score":0.5086520314216614},{"id":"https://openalex.org/C15241564","wikidata":"https://www.wikidata.org/wiki/Q319845","display_name":"Investment banking","level":2,"score":0.47928565740585327},{"id":"https://openalex.org/C2780378061","wikidata":"https://www.wikidata.org/wiki/Q25351891","display_name":"Service (business)","level":2,"score":0.47832298278808594},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.47591763734817505},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.4606187045574188},{"id":"https://openalex.org/C196390999","wikidata":"https://www.wikidata.org/wiki/Q11655436","display_name":"Indirect finance","level":3,"score":0.4375610947608948},{"id":"https://openalex.org/C2777303404","wikidata":"https://www.wikidata.org/wiki/Q759757","display_name":"Convergence (economics)","level":2,"score":0.4295371174812317},{"id":"https://openalex.org/C2777313351","wikidata":"https://www.wikidata.org/wiki/Q1370301","display_name":"Economies of scope","level":3,"score":0.4106605052947998},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.34101414680480957},{"id":"https://openalex.org/C50522688","wikidata":"https://www.wikidata.org/wiki/Q189833","display_name":"Economic growth","level":1,"score":0.08371543884277344},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.0},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0},{"id":"https://openalex.org/C29321873","wikidata":"https://www.wikidata.org/wiki/Q5970087","display_name":"Economies of scale","level":2,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1111/1540-6288.00004","doi":"https://doi.org/10.1111/1540-6288.00004","is_oa":false,"landing_page_url":"https://doi.org/10.1111/1540-6288.00004","pdf_url":null,"source":{"id":"https://openalex.org/S9351053","display_name":"Financial Review","issn_l":"0732-8516","issn":["0732-8516","1540-6288"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial Review","raw_type":"journal-article"},{"id":"pmh:oai:digitalcommons.kennesaw.edu:facpubs-3139","doi":null,"is_oa":false,"landing_page_url":"https://digitalcommons.kennesaw.edu/facpubs/2132","pdf_url":null,"source":{"id":"https://openalex.org/S4377196456","display_name":"DigitalCommons - Kennesaw State University (Kennesaw State University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I172980758","host_organization_name":"Kennesaw State University","host_organization_lineage":["https://openalex.org/I172980758"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Faculty Articles","raw_type":"text"},{"id":"mag:3123755481","doi":null,"is_oa":true,"landing_page_url":"https://autopapers.ssrn.com/sol3/papers.cfm?abstract_id=311279","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null}],"best_oa_location":{"id":"mag:3123755481","doi":null,"is_oa":true,"landing_page_url":"https://autopapers.ssrn.com/sol3/papers.cfm?abstract_id=311279","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.44999998807907104,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W2008983704","https://openalex.org/W1492660697","https://openalex.org/W1530600360","https://openalex.org/W2067924562","https://openalex.org/W303314169","https://openalex.org/W1594833651","https://openalex.org/W7099091721","https://openalex.org/W7096887204","https://openalex.org/W2073133737","https://openalex.org/W2252407061"],"abstract_inverted_index":{"The":[0],"Financial":[1],"Modernization":[2],"Act":[3],"of":[4,17],"1999":[5],"dramatically":[6],"increased":[7],"insurers\u2019":[8],"and":[9,20,28,51,54,92],"investment":[10,26,52],"banks\u2019":[11],"authority":[12],"to":[13,24,39,98],"provide":[14],"an":[15],"array":[16],"financial":[18,66,85],"services":[19],"allowed":[21],"commercial":[22,59],"banks":[23,75],"offer":[25],"banking":[27],"insurance":[29,49],"services.":[30],"In":[31],"this":[32,40],"paper":[33],"we":[34],"examine":[35],"the":[36,100],"market":[37],"response":[38,47,57],"legislation.":[41],"We":[42],"find":[43],"a":[44],"strong":[45],"positive":[46],"among":[48,58],"companies":[50],"banks,":[53],"no":[55],"significant":[56],"banks.":[60],"Larger":[61],"institutions":[62],"in":[63],"all":[64],"three":[65],"sectors":[67],"earn":[68,76],"higher":[69,77],"abnormal":[70,78],"returns.":[71,79],"Additionally,":[72],"better":[73],"performing":[74],"Our":[80],"results":[81],"suggest":[82],"that":[83,93],"allowing":[84],"convergence":[86],"can":[87],"add":[88],"value":[89],"through":[90],"synergies":[91],"large":[94],"players":[95],"are":[96],"needed":[97],"exploit":[99],"scope":[101],"economies.":[102]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":4}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}