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Finance and Economics Discussion Series - The Effects of Competition from Large, Multimarket Firms on the Performance of Small, Single-Market Firms: Evidence from the Banking Industry (Paperback)
Loot Price: R317
Discovery Miles 3 170
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Finance and Economics Discussion Series - The Effects of Competition from Large, Multimarket Firms on the Performance of Small, Single-Market Firms: Evidence from the Banking Industry (Paperback)
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List price R392
Loot Price R317
Discovery Miles 3 170
You Save R75 (19%)
Expected to ship within 10 - 15 working days
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We offer and test two competing hypotheses for the consolidation
trend in banking using U.S. banking industry data over the period
1982-2000. Under the efficiency hypothesis, technological progress
improved the performance of large, multimarket firms relative to
small, single-market firms, whereas under the hubris hypothesis,
consolidation was largely driven by corporate hubris. Our results
are consistent with an empirical dominance of the efficiency
hypothesis over the hubris hypothesis-on net, technological
progress allowed large, multimarket banks to compete more
effectively against small, single-market banks in the 1990s than in
the 1980s. We also isolate the extent to which technological
progress occurred through scale versus geographic effects and how
they affected the performance of small, single-market banks through
revenues versus costs. The results may shed light as well on some
of the research and policy issues related to community banking, and
on the question of how community banks should be defined.
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