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Clustering or competition? The foreign investment behaviour of German banks

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dc.creator Lipponer, Alexander
dc.creator Buch, Claudia M.
dc.date 2004
dc.date.accessioned 2013-10-16T07:05:10Z
dc.date.available 2013-10-16T07:05:10Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19473
dc.identifier ppn:385183445
dc.identifier RePEc:zbw:bubdp1:1819
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19473
dc.description The presence of other firms in a foreign market can have a double-edged effect on the profitability of new entrants. Firstly, a larger presence of other firms implies more competition and thus lowers the earnings prospects of new entrants. Secondly, there might be positive spill-over effects between the activities of new and old entrants, which can lead to clustering effects. Such clustering of firms in foreign markets has been documented in the empirical literature on foreign direct investment (FDI) of nonfinancial firms, but little evidence is available for banks. This paper analyses whether banks have a tendency to cluster abroad and whether smaller banks in particular invest in markets where other banks are already present. We use firm-level evidence on the foreign direct investments of German banks for the period 1997-2000 to test this hypothesis. Our results suggest that German banks are indeed more active in markets in which other German banks are already present. However, once we control for countryfixed effects, the negative competition effect dominates.
dc.language eng
dc.relation Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,06
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject F21
dc.subject F0
dc.subject ddc:330
dc.subject international banking
dc.subject clustering
dc.subject foreign direct investment
dc.subject Bank
dc.subject Direktinvestition
dc.subject Deutsch
dc.subject Regionale Konzentration
dc.subject Schätzung
dc.subject Deutschland
dc.title Clustering or competition? The foreign investment behaviour of German banks
dc.type doc-type:workingPaper


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