This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
The Role of the Local Business Environment in Banking Consolidation Author info | Abstract | Publisher info | Download info | Related research | Statistics Luca Colombo () (DISCE, Università Cattolica)
Gilberto Turati () (DISCE, Università Cattolica)
Additional information is available for the following
registered author(s):
We study whether local economic conditions in different areas have an impact on the magnitude and direction of the concentration process of a banking industry. By using probit and count data (ZIP) models to study the consolidation of the Italian banking sector in the second half of the 1990s, we document a significant direct impact of the local ‘business environment’ on the concentration of the industry at the regional level. This effect complements the well known indirect effect of macroeconomic characteristics on the profitability and efficiency of banks. We also show that institutional and organizational variables affect the likelihood and number of M&A deals, and help explaining differences in performance. Our results appear to be robust to different specifications, and to a number of robustness checks, including alternative sets of variables defining local ‘business environment conditions’.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Paper provided by Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE) in its series DISCE - Quaderni dell'Istituto di Economia e Finanza with number
ief0076.
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Length: nn pages 28
Date of creation: Nov 2007Date of revision:
Handle: RePEc:ctc:serie3:ief0076Contact details of provider: Email: Web page: http://www.unicatt.it/Istituti/EconomiaFinanza More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Massimo Bordignon).
Keywords: Banking M&As ; local business environment ; profitability ; efficiency ; credit policies ; count data models ; Other versions of this item:
Find related papers by JEL classification: G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
This paper has been announced in the following NEP Reports :
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Krishna B. Kumar & Raghuram G. Rajan & Luigi Zingales, 1999.
"What Determines Firm Size? ,"
NBER Working Papers
7208, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Krishna B. Kumar & Raghuram G. Rajan & Luigi Zingales, .
"What Determines Firm Size? ,"
CRSP working papers
496, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
[Downloadable!] Kumar, Krishna B & Rajan, Raghuram G & Zingales, Luigi, 1999.
"What Determines Firm Size? ,"
CEPR Discussion Papers
2211, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Alessio De Vincenzo & Claudio Doria & Carmelo Salleo, 2005.
"The Motivations for Bank Takeovers: Some Empirical Evidence from Italy ,"
Giornale degli Economisti ,
GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 64(4), pages 327-358, December.
[Downloadable!]
Fridolfsson S.O. & Stennek J., 1999.
"Why mergers reduce profits, and raise share prices: A theory of preemptive mergers ,"
Working Papers
1999018, University of Antwerp, Faculty of Applied Economics.
[Downloadable!]
Other versions:
Sven-Olof Fridolfsson & Johan Stennek, 2001.
"Why Mergers Reduce Profits and Raise Share Prices: A Theory of Preemptive Mergers ,"
CIG Working Papers
FS IV 01-26, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
[Downloadable!] Sven-Olof Fridolfsson & Johan Stennek, 2005.
"Why Mergers Reduce Profits And Raise Share Prices-A Theory Of Preemptive Mergers ,"
Journal of the European Economic Association ,
MIT Press, vol. 3(5), pages 1083-1104, 09.
[Downloadable!] (restricted) Focarelli, Dario & Panetta, Fabio & Salleo, Carmelo, 2002.
"Why Do Banks Merge? ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 34(4), pages 1047-66, November.
John Goddard & Phil Molyneux & John O. S. Wilson, 2004.
"The profitability of european banks: a cross-sectional and dynamic panel analysis ,"
Manchester School ,
University of Manchester, vol. 72(3), pages 363-381, 06.
[Downloadable!] (restricted)
R.T.A. de Haas & I.P.P. van Lelyveld, 2003.
"Foreign Bank Penetration and Private Sector Credit in Central and Eastern Europe ,"
DNB Staff Reports (discontinued)
91, Netherlands Central Bank.
[Downloadable!]
Other versions: Luigi Guiso & Paola Sapienza & Luigi Zingales, 2004.
"The Role of Social Capital in Financial Development ,"
American Economic Review ,
American Economic Association, vol. 94(3), pages 526-556, June.
[Downloadable!]
Other versions:
Luigi Guiso & Paola Sapienza & Luigi Zingales, 2000.
"The Role of Social Capital in Financial Development ,"
CRSP working papers
511, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
[Downloadable!] Guiso, Luigi & Sapienza, Paola & Zingales, Luigi, 2000.
"The Role of Social Capital In Financial Development ,"
CEPR Discussion Papers
2383, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Luigi Guiso & Paola Sapienza & Luigi Zingales, 2000.
"The Role of Social Capital in Financial Development ,"
NBER Working Papers
7563, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Knack, Stephen & Keefer, Philip, 1997.
"Does Social Capital Have an Economic Payoff? A Cross-Country Investigation ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 112(4), pages 1251-88, November.
Altunbas, Yener & Evans, Lynne & Molyneux, Philip, 2001.
"Bank Ownership and Efficiency ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 33(4), pages 926-54, November.
Angelini, P. & Di Salvo, R. & Ferri, G., 1998.
"Availability and cost of credit for small businesses: Customer relationships and credit cooperatives ,"
Journal of Banking & Finance ,
Elsevier, vol. 22(6-8), pages 925-954, August.
[Downloadable!] (restricted)
Nicola Cetorelli, 2004.
"Real effects of bank competition ,"
Proceedings ,
Federal Reserve Bank of Cleveland, pages 543-562.
Other versions:
Nicola Cetorelli, 2004.
"Real effects of bank competition ,"
Working Paper Series
WP-04-03, Federal Reserve Bank of Chicago.
[Downloadable!] Cetorelli, Nicola, 2004.
"Real Effects of Bank Competition ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 36(3), pages 543-58, June.
Peek, Joe & Rosengren, Eric S., 1998.
"Bank consolidation and small business lending: It's not just bank size that matters ,"
Journal of Banking & Finance ,
Elsevier, vol. 22(6-8), pages 799-819, August.
[Downloadable!] (restricted)
Other versions: Rasmusen, Eric, 1988.
"Mutual Banks and Stock Banks ,"
Journal of Law & Economics ,
University of Chicago Press, vol. 31(2), pages 395-421, October.
Luigi Guiso & Paola Sapienza & Luigi Zingales, 2004.
"Does Local Financial Development Matter? ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 119(3), pages 929-969, August.
[Downloadable!] (restricted)
Other versions:
Luigi Guiso & Paola Sapienza & Luigi Zingales, 2002.
"Does Local Financial Development Matter? ,"
NBER Working Papers
8923, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Guiso, Luigi & Sapienza, Paola & Zingales, Luigi, 2002.
"Does Local Financial Development Matter? ,"
CEPR Discussion Papers
3307, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Focarelli, Dario & Pozzolo, Alberto Franco, 2003.
"Where Do Banks Expand Abroad? An Empirical Analysis ,"
Economics & Statistics Discussion Papers
esdp03009, University of Molise, Dept. SEGeS.
[Downloadable!]
Other versions: Goddard, John & Molyneux, Phil & Wilson, John O S, 2004.
"Dynamics of Growth and Profitability in Banking ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 36(6), pages 1069-90, December.
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Maria Flavia Ambrosanio & Massimo Bordignon & Floriana Cerniglia, 2008.
"Constitutional reforms, fiscal decentralization and regional fiscal flows in Italy ,"
DISCE - Quaderni dell'Istituto di Economia e Finanza
ief0084, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
[Downloadable!]
Angelo Baglioni & Andrea Monticini, 2008.
"The intraday interest rate under a liquidity crisis: the case of August 2007 ,"
DISCE - Quaderni dell'Istituto di Economia e Finanza
ief0083, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
[Downloadable!]
Access and
download statistics Did you know? RePEc data is maintained by each archive holder on its own website. Nothing is held centrally.
This page was last updated on 2009-11-24.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .