Berger, Allen N.; Dick, Astrid A. - In: Proceedings (2004) May, pp. 243-254
Using a sample for 1972-2002 with over 8,000 bank entries into local markets, we find a market share advantage for earlier entrants. In particular, the earlier a bank enters, the larger is its market share relative to other banks, controlling for firm, market and time effects, with a market...