Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/19473 
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dc.contributor.authorLipponer, Alexanderen
dc.contributor.authorBuch, Claudia M.en
dc.date.accessioned2009-01-28T15:58:48Z-
dc.date.available2009-01-28T15:58:48Z-
dc.date.issued2004-
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 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.en
dc.language.isoengen
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.en
dc.relation.ispartofseries|aDiscussion Paper Series 1 |x2004,06en
dc.subject.jelF21en
dc.subject.jelF0en
dc.subject.ddc330en
dc.subject.keywordinternational bankingen
dc.subject.keywordclusteringen
dc.subject.keywordforeign direct investmenten
dc.subject.stwBanken
dc.subject.stwDirektinvestitionen
dc.subject.stwDeutschen
dc.subject.stwRegionale Konzentrationen
dc.subject.stwSchätzungen
dc.subject.stwDeutschlanden
dc.titleClustering or competition? The foreign investment behaviour of German banks-
dc.typeWorking Paperen
dc.identifier.ppn385183445en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bubdp1:1819en

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