TY - JOUR

T1 - US credit unions: survival, consolidation and growth

AU - Goddard, J.A.

AU - Goddard, J.

AU - McKillop, D.

AU - Wilson, J.O.

N1 - This is the peer reviewed version of the article which has been published in final form at http://dx.doi.org/10.1111/ecin.12032. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions. © 2013 John Wiley & Sons, Ltd.

PY - 2013/7/5

Y1 - 2013/7/5

N2 - This study uses hazard function estimations and time-series and cross-sectional growth regressions to examine the impact of exit through merger and acquisition (MandA) or failure, and internally generated growth, on the firm-size distribution within the U.S. credit union sector. Consolidation through MandA 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)

AB - This study uses hazard function estimations and time-series and cross-sectional growth regressions to examine the impact of exit through merger and acquisition (MandA) or failure, and internally generated growth, on the firm-size distribution within the U.S. credit union sector. Consolidation through MandA 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)

U2 - 10.1111/ecin.12032

DO - 10.1111/ecin.12032

M3 - Article

VL - 52

SP - 304

EP - 319

JO - Economic Inquiry

JF - Economic Inquiry

SN - 1465-7295

IS - 1

ER -