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...Journal of banking and finance north holland economies scale scope in the securities industry lawrence g goldberg department university miami coral gables fl usa gerald a hanweck george mason fairfax va michael keenan new york universify ny allan young syracuse received september tinal version march for are estimated lirst time using previously unavailable survey data employing translog multiproduct cost function model results reveal smaller specialized firms diseconomies larger more diversified do not appear to be important if glass steagall restrictions relaxed suggest that banks can enter with brokerage division moderate about s million revenues live equity required suggests only assets over sl billion capital relatively modest investment there however substantial number who considered as potential entrants zyxwvutsrqponmlkjihgfedcbazyxwvutsrqponmlkjihgfedcba introduction united states is undergoing significant structural changes merger activity has been extensive firm activities ha...