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In search for the best alliance structure between banks and insurance companies

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dc.contributor Aalto-yliopisto fi
dc.contributor Aalto University en
dc.contributor.author Voutilainen, Raimo
dc.date.accessioned 2013-11-26T10:53:34Z
dc.date.available 2013-11-26T10:53:34Z
dc.date.issued 2006
dc.identifier.isbn 951-791-994-8
dc.identifier.issn 1237-556X
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/11485
dc.description.abstract In search for the best alliance structure between banks and insurance companies Banks and insurance companies have widely recognized the need for mutual co-operation in the form of cross-sector alliances. In these articles we study the problem of finding the most suitable alliance structure between banks and insurance companies from the points of view of executive management, supervisory authorities and customers. We also study possible compromise alliance models for several decision maker groups and a group’s understanding of other groups’ decisions. In the first article we study alliances between banks and insurance companies from the perspective of the top management. We define six different structural models for financial alliances. We also characterize nine criteria according to which the previously defined models are to be compared to achieve the most attractive alliance model. Thus, we obtain a multi-criteria decision problem. In the second article we solve the problem of searching the most preferred alliance model by using an expert panel and the Analytic Hierarchy Process (AHP). The experts are representatives of the top management of Finnish banks and insurance companies. Based on the evaluations of the panel, the alternatives Financial Conglomerate and Cross-Selling Agreement, no Overlapping Service Channels are most preferred. Which one is chosen, depends on how risk is emphasized. In the third article we look for the best alliance compromise structure between the executives and the bank and insurance supervisory authorities in Finland. First, we study alternative alliance structures from the point of view of supervisors. We introduce eight criteria for the evaluation of the alternative alliance structures. The evaluation is carried out by an expert panel consisting of supervisory authorities. The alliance models based on plain cross-selling agreements receive the highest ranks. The financial conglomerate might be an acceptable compromise alternative for the supervisory authorities as well on certain conditions. In the fourth article we study alternative alliance structures from the point of view of Finnish customer representatives. Seven criteria are introduced for the evaluation of the models. The evaluation is carried out by an expert panel consisting of customer representatives. The alliance models based on cross-selling agreements receive the highest ranks. The customer representatives then evaluate the models using the most important executive and supervisory criteria from our earlier studies. They also invent executive and supervisory criteria. It is more difficult for them to assume supervisory than executive thinking. Finally, we compare the criteria and the model priorities of this and our earlier articles. The best compromise model from all three points of view could be the financial conglomerate on certain conditions en
dc.format.extent [104] s.
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.publisher Helsinki School of Economics en
dc.publisher Helsingin kauppakorkeakoulu fi
dc.relation.ispartofseries Acta Universitatis oeconomicae Helsingiensis. A fi
dc.relation.ispartofseries 267 fi
dc.title In search for the best alliance structure between banks and insurance companies en
dc.type G5 Artikkeliväitöskirja fi
dc.contributor.school Kauppakorkeakoulu fi
dc.contributor.school School of Business en
dc.identifier.urn URN:ISBN:951-791-994-8
dc.type.dcmitype text en
dc.programme.major Taloustieteiden kvantitatiiviset menetelmät fi
dc.programme.major Quantitative Methods en
dc.type.ontasot Väitöskirja (artikkeli) fi
dc.type.ontasot Doctoral dissertation (article-based) en
dc.contributor.supervisor Korhonen, Pekka, professor
dc.opn Salo, Ahti, professor, University of Technology, Finland
dc.opn Ruohonen, Matti, professor, Veritas Life Insurance, Finland
dc.subject.helecon Pankit
dc.subject.helecon Vakuutusyhtiöt
dc.subject.helecon Kumppanuus
dc.subject.helecon Yhteistyö
dc.subject.helecon Banks
dc.subject.helecon Insurance companies
dc.subject.helecon Partnership
dc.subject.helecon Cooperation
dc.date.defence 2006-03-03
dc.dissid 297
dc.identifier.bibid 329591
local.aalto.digifolder Aalto_68404
local.aalto.digiauth ask


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