The Competitive Structure and Strategic Positioning of the Bank Industry in the Face of Major Environmental Disturbances: A Study of Brazilian Banks

ABSTRACT This work looks into the dynamics of the competitive structure and strategic positioning of Brazilian banks. Over the eighteen years covered by the study, we saw periods of strategic instability in this industry and differing structures of strategic groups, with regard to not only their number, but also their composition. Our study therefore provides empirical evidence that we will hardly find periods of full strategic stability. These findings denote that, at some moment, there is a change in the strategic positioning of these firms and provides insight with regard to the competitive patterns of an industry over the period.

摘要 本研究聚焦巴西银行业的竞争格局动态与战略定位演变。在本研究覆盖的十八年时间跨度内，该行业曾出现多段战略不稳定时期，且战略群组（strategic groups）的结构不仅在数量维度，亦在构成维度上始终存在差异。因此本研究提供的实证证据表明，该行业几乎不存在完全战略稳定的时期。上述研究结果表明，巴西银行业企业的战略定位在特定时段会发生变化，同时也为理解该研究周期内行业的竞争格局提供了独到见解。