New Cooperative Banking in Europe Strategies for Adapting the Busine
This edited volume showcases how the European cooperative banks have continued to evolve amid a new competitive scenario that resulted from the Global Financial Crisis started in Europe in 2008. The cooperative banking paradigm has been put under an unpre
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Edited by Marco Migliorelli
New Cooperative Banking in Europe
Marco Migliorelli Editor
New Cooperative Banking in Europe Strategies for Adapting the Business Model Post Crisis
Editor Marco Migliorelli IAE Université Paris 1 Panthéon-Sorbonne (Sorbonne Business School) Paris, France
ISBN 978-3-319-93577-5 ISBN 978-3-319-93578-2 (eBook) https://doi.org/10.1007/978-3-319-93578-2 Library of Congress Control Number: 2018950363 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: VanReeel, iStock / Getty Images Plus This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Foreword
The idea of this book came from several meetings I had with professors, practitioners and students that, like me, are passionate by the theme of cooperative banking. Many of them advocate that the cooperative model, axed on membership, democratic governance, proximity and commitment to social values, represented during and in the aftermath of the Great Crisis a valuable anchor for businesses and households and that such a model should be further encouraged. Others claim that cooperative banks were, in the longer term, not shielded from the drawbacks of the economic turmoil and progressively weakened their capacity to generate a distinctive value proposition, in particular due to the reluctance to adapt their business model to the changed competitive scenario. The possibility to enrich this debate is what inspired this collective work. The convergence towards the joint-stock company model or the necessity of some deep evolution in crucial aspects of the cooperative paradigm was often at the heart of the discussions I had on the possible future of cooperative banking
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