Universal Business Model and Bank Misconduct
研究了美国银行从传统零售银行转向全能、收费型商业模式是否与更多不当行为相关，发现全能银行与不当行为可能性正相关，支持简化金融集团商业模式的改革。
ABSTRACT Repeated episodes of bank misconduct can threaten financial stability and increase the risk of systemic crises, yet evidence on their drivers remains limited. This paper investigates whether the shift from traditional retail banking towards a universal, fee‐based business model in the United States is associated with greater misconduct. Using a panel of more than 70 US banks, we find that universal banking is positively related to the likelihood of misconduct. These results support structural banking reforms aimed at reducing the complexity of financial conglomerates' business models.