Isomorphic Convergence & the Great Recession of 2008: A Case Study of Eight Investment Banks
Bianco, Steven Blake. “Isomorphic Convergence & the Great Recession of 2008”, Boston College, 2016. http://hdl.handle.net/2345/bc-ir:106716.
This research aims at contributing to the prevailing literature on the causal origins of the 2008 Recession. Organizations within major investment finance very likely converged towards increased speculation as the result of a process called isomorphism. This approach engaged in a multiple-embedded case study of eight banks including Bank of America, J.P. Morgan Case, Wells Fargo, Bank of New York, Mellon Financial, Bank of New York Mellon, PNC Financial (or PNC Bank), and U.S. Bancorp. The work draws from a qualitative content analysis of quantitative accounting data disclosed under annual financial reports between 2003 and 2008. Trend analyses and accounting ratios were utilized to locate points of convergence in the financial data for these organizations. Conclusively, the research found convergence in the valuation of revenues during certain periods, the valuation of net-income during certain periods, the proportion of noninterest income to revenues, the liquidity ratio, the investment of mortgage-backed securities, outstanding total loans, and net cash used in financial activities.