US credit unions: survival, consolidation and growth

Goddard, J. and McKillop, D. and Wilson, J.O.S. (2013) US credit unions: survival, consolidation and growth. Economic Inquiry, 52 (1). pp. 304-319. DOI: 10.1111/ecin.12032

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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 U.S. 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. (JEL G21)

Item Type: Article
Subjects: Research Publications
Departments: College of Business, Law, Education and Social Sciences > Bangor Business School
Date Deposited: 29 May 2015 02:45
Last Modified: 23 Sep 2015 03:05
ISSN: 0095-2583
Publisher's Statement: This is the peer reviewed version of the article which has been published in final form at http://dx.doi.org/10.1111/ecin.12032. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions. © 2013 John Wiley & Sons, Ltd.
URI: http://e.bangor.ac.uk/id/eprint/4609
Identification Number: DOI: 10.1111/ecin.12032
Publisher: John Wiley & Sons
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