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U.S. CREDIT UNIONS: SURVIVAL, CONSOLIDATION, AND GROWTH
Author(s) -
GODDARD JOHN,
MCKILLOP DONAL,
WILSON JOHN O. S.
Publication year - 2014
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/ecin.12032
Subject(s) - consolidation (business) , economics , principal (computer security) , credit union , finance , computer science , operating system
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)