IS THE MARKET WELL DEFINED IN BANK MERGER AND ACQUISITION ANALYSIS
成果类型：
Article
署名作者：
JACKSON, WE
刊物名称：
REVIEW OF ECONOMICS AND STATISTICS
ISSN/ISSBN：
0034-6535
发表日期：
1992-11
页码：
655-661
关键词：
摘要：
Two hypotheses are tested in this paper. The first is whether the appropriate geographic market for certain banking services is national, instead of local. The second is whether the definition of banking ''product'' as all banking services is too broad. A rational distributed lag model of bank pricing behavior is estimated using retail deposit rate data and the Fuller-Battese error component method. Dummy variables are incorporated into the model to test for differing pricing behavior across locally defined geographic markets. A Likelihood Ratio and F-test are used to test the national market hypothesis. The test of national market behavior can be rejected for only two of the three types of deposits. The different test results for one of the deposit types suggests that it should be considered a distinct and separate banking service.