Abstract
This study uses hazard function estimations and time-series and cross-sectional growth regressions to examine the impact of exit through merger and acquisition (M&A) or failure, and internally-generated growth, on the firm-size distribution within the US credit union sector. Consolidation through M&A was the principal cause of a reduction in the number of credit unions, but impact on concentration was small. Divergence between the average internally-generated growth of smaller and larger credit unions was the principal driver of the rise in concentration.
Original language | English |
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Pages (from-to) | 304-319 |
Number of pages | 16 |
Journal | Economic Inquiry |
Volume | 52 |
Issue number | 1 |
Early online date | 05 Jul 2013 |
DOIs | |
Publication status | Published - 2014 |
Keywords
- credit unions
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Donal McKillop
- Queen's Management School - Emeritus Professor
- Finance
- Centre for Not-For-Profit and Public-Sector Research
Person: Emeritus