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Bakhru, A. and Brown, A.
(2005).
URL: http://www.blackwellpublishing.com/grant/default.h...
Abstract
The advent of the Internet resulted in established brokerage firms being challenged by a host of online upstarts riding on the back of the late 1990s technology boom. By 2001, the game has changed - declining trading volumes are putting pressure on the whole industry and on the online brokers especially. How should E*Trade (an online broker), Schwab (a discount broker) and Merrill Lynch (a full-service broker) adjust to the new market conditions, and which business model is likely to be most successful in the future?