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Determinants of banking profitability: explaining the Nordic-Southern European divide
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This paper explains the profitability gap between the better performing Nordic banks and their Southern European counterparts. The research, focused on the 2010-2017 period, ascertains that there are substantial differences in corporate governance mechanisms between the groups’ largest banks, but these either are non-significant or show mixed results when correlated with profitability. Additionally, the gap is partially explained by the higher Southern effective tax rates coupled with an increased focus on retail banking activity in the Nordics, but liquidity, proxied by total deposits over total assets, was found to positively influence profitability and to be higher in the South.
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Banks Financial sector Europe Profitability Corporate Governance Liquidity