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articles: Firm characteristics and location: The case of the institutional investment advisory industry in the United States, 1983-1996


  • John E. Bodenman

    () (Department of Geography & Earth Science, Bloomsburg University, 400 East Second Street, Bloomsburg, PA 17815)


This article examines the locational dynamics of the institutional investment advisory industry in the United States, 1983-1996, focusing on the factors and firm characteristics that account for institutional investment management firms' location. The institutional investment advisory industry, one of the fastest growing industries in the financial services sector, includes firms that manage the securities portfolios of institutional clients (e.g., corporate pension funds) for a fee. Descriptive and logit analyses are used to identify, compare and contrast those factors and firm characteristics associated with firm location outside (versus inside) the traditional investment management core. The findings presented in this article diminish the notion that access to a skilled financial services labor pool and a high-quality and diversified transportation and communications infrastructure is only available in the traditional core.

Suggested Citation

  • John E. Bodenman, 2000. "articles: Firm characteristics and location: The case of the institutional investment advisory industry in the United States, 1983-1996," Papers in Regional Science, Springer;Regional Science Association International, vol. 79(1), pages 33-56.
  • Handle: RePEc:spr:presci:v:79:y:2000:i:1:p:33-56
    Note: Received: 15 March 1996

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    More about this item


    Institutional investment advisors; financial services; location;

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • L84 - Industrial Organization - - Industry Studies: Services - - - Personal, Professional, and Business Services
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes


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