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Banks on the Move : why did financial institutes transfer to Frankfurt or Paris, as a result of the Brexit agreement?

Grotschulte, Niklas J. (2021) Banks on the Move : why did financial institutes transfer to Frankfurt or Paris, as a result of the Brexit agreement?

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Abstract:In this thesis, Germain´s principal financial centre theory, lobbying theories and herd behaviour theories are used to examine the movement of banks. To answer the question of why banks transferred to Frankfurt or Paris as a result of the Brexit agreement, three hypotheses are presented: First, I assume that the principal financial centre with the densest private sector network will attract the most banks. Second, I hypothesize that the city with the most convincing pull factors, provided by the public administration, will lobby most efficiently, and attract the most banks. Finally, these hypotheses are combined into the assumption that both, the attraction of private networks and the pull factors of public actors lead to a herd behaviour towards a certain city. This framework will close a gap in the literature and provide a more thorough explanation of the complexity of Brexit than just one theory could. Secondary data helped to uncover the key findings: Both, private networks and pull factors provided by public actors contributed to the movement of banks towards both cities. Frankfurt attracted more banks by offering the denser network and providing more convincing pull factors. Time will show whether herd behaviour is apparent or not.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:88 social and public administration
Programme:Management Society and Technology BSc (56654)
Link to this item:http://purl.utwente.nl/essays/87492
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