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Merger and Acquisition Activity as Driver of Spatial Clustering: The Spatial Evolution of the Dutch Banking Industry, 1850-1993

Boschma, Ron LU and Hartog, Matte (2014) In Economic Geography 90(3). p.247-266
Abstract
This article investigates the extent to which merger and acquisition (M&A) activity contributed to the spatial clustering of the Dutch banking industry in Amsterdam. This analysis is based on a unique database of all banks in the Netherlands that existed in the period 1850-1993. We found that spatial clustering of the Dutch banking industry was not driven by the fact that banks performed better in the Amsterdam region: being located in Amsterdam decreased rather than increased the survival chances of banks. However, banks in Amsterdam were disproportionally active in acquiring other banks outside Amsterdam. Experience in M&As accumulated mainly in the Amsterdam region, which in turn had a positive impact on the survival chances of... (More)
This article investigates the extent to which merger and acquisition (M&A) activity contributed to the spatial clustering of the Dutch banking industry in Amsterdam. This analysis is based on a unique database of all banks in the Netherlands that existed in the period 1850-1993. We found that spatial clustering of the Dutch banking industry was not driven by the fact that banks performed better in the Amsterdam region: being located in Amsterdam decreased rather than increased the survival chances of banks. However, banks in Amsterdam were disproportionally active in acquiring other banks outside Amsterdam. Experience in M&As accumulated mainly in the Amsterdam region, which in turn had a positive impact on the survival chances of banks located there. Our findings suggest that M& A activity was a driving force behind the spatial clustering of the Dutch banking industry between 1850 and 1993. (Less)
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author
and
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
industrial dynamics, cluster, mergers and acquisitions, banking sector, evolutionary economic geography
in
Economic Geography
volume
90
issue
3
pages
247 - 266
publisher
Economic Geography
external identifiers
  • wos:000340600500001
  • scopus:84904336364
ISSN
0013-0095
DOI
10.1111/ecge.12054
language
English
LU publication?
yes
id
ef8ba156-fe9d-4f27-8653-4371418331ba (old id 4655953)
date added to LUP
2016-04-01 10:06:58
date last changed
2021-09-01 03:16:17
@article{ef8ba156-fe9d-4f27-8653-4371418331ba,
  abstract     = {This article investigates the extent to which merger and acquisition (M&A) activity contributed to the spatial clustering of the Dutch banking industry in Amsterdam. This analysis is based on a unique database of all banks in the Netherlands that existed in the period 1850-1993. We found that spatial clustering of the Dutch banking industry was not driven by the fact that banks performed better in the Amsterdam region: being located in Amsterdam decreased rather than increased the survival chances of banks. However, banks in Amsterdam were disproportionally active in acquiring other banks outside Amsterdam. Experience in M&As accumulated mainly in the Amsterdam region, which in turn had a positive impact on the survival chances of banks located there. Our findings suggest that M& A activity was a driving force behind the spatial clustering of the Dutch banking industry between 1850 and 1993.},
  author       = {Boschma, Ron and Hartog, Matte},
  issn         = {0013-0095},
  language     = {eng},
  number       = {3},
  pages        = {247--266},
  publisher    = {Economic Geography},
  series       = {Economic Geography},
  title        = {Merger and Acquisition Activity as Driver of Spatial Clustering: The Spatial Evolution of the Dutch Banking Industry, 1850-1993},
  url          = {http://dx.doi.org/10.1111/ecge.12054},
  doi          = {10.1111/ecge.12054},
  volume       = {90},
  year         = {2014},
}