Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/19473
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dc.contributor.authorLipponer, Alexanderen_US
dc.contributor.authorBuch, Claudia M.en_US
dc.date.accessioned2009-01-28T15:58:48Z-
dc.date.available2009-01-28T15:58:48Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/19473-
dc.description.abstractThe presence of other firms in a foreign market can have a double-edged effect on theprofitability of new entrants. Firstly, a larger presence of other firms implies morecompetition and thus lowers the earnings prospects of new entrants. Secondly, theremight 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 hasbeen documented in the empirical literature on foreign direct investment (FDI) of nonfinancialfirms, but little evidence is available for banks. This paper analyses whetherbanks have a tendency to cluster abroad and whether smaller banks in particular investin markets where other banks are already present. We use firm-level evidence on theforeign direct investments of German banks for the period 1997-2000 to test thishypothesis. Our results suggest that German banks are indeed more active in markets inwhich other German banks are already present. However, once we control for countryfixedeffects, the negative competition effect dominates.en_US
dc.language.isoengen_US
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.-
dc.relation.ispartofseries|aDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank |x2004,06en_US
dc.subject.jelF21en_US
dc.subject.jelF0en_US
dc.subject.ddc330en_US
dc.subject.keywordinternational bankingen_US
dc.subject.keywordclusteringen_US
dc.subject.keywordforeign direct investmenten_US
dc.subject.stwBanken_US
dc.subject.stwDirektinvestitionen_US
dc.subject.stwDeutschen_US
dc.subject.stwRegionale Konzentrationen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleClustering or competition? The foreign investment behaviour of German banksen_US
dc.typeWorking Paperen_US
dc.identifier.ppn385183445en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:1819-

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