U.S. Credit Unions: Survival, Consolidation, and Growth

16 Pages Posted: 20 Nov 2013

See all articles by John Goddard

John Goddard

Bangor Business School

Donal G. McKillop

Queen's University Management School

John O. S. Wilson

University of St. Andrews

Date Written: January 2014

Abstract

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 Classification: G21

Suggested Citation

Goddard, John and McKillop, Donal G. and Wilson, John O. S., U.S. Credit Unions: Survival, Consolidation, and Growth (January 2014). Economic Inquiry, Vol. 52, Issue 1, pp. 304-319, 2014. Available at SSRN: https://ssrn.com/abstract=2357234 or http://dx.doi.org/10.1111/ecin.12032

John Goddard

Bangor Business School ( email )

Bangor Business School
College Road
Gwynedd LL57 2DG, Wales LL57 2DG
United Kingdom

Donal G. McKillop

Queen's University Management School ( email )

25 University Square
Belfast, Northern Ireland BT7 1NN
Northern Ireland

John O. S. Wilson

University of St. Andrews ( email )

North St
Saint Andrews, Fife KY16 9AJ
United Kingdom

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