The Law of Proportionate Effect: The Growth of the UK Credit Union Movement at National and Regional Level
: This study examines credit union size‐growth relationships within the context of Gibrat's law of proportionate effect. This relates to the hypothesis that the growth of each firm in each period is random. The analysis covers the period 1994 to 2000 and is undertaken separately for the United...
Saved in:
Published in | Journal of business finance & accounting Vol. 32; no. 9-10; pp. 1827 - 1859 |
---|---|
Main Authors | , |
Format | Journal Article |
Language | English |
Published |
Oxford, UK; Malden, USA
Blackwell Publishing Ltd/Inc
01.11.2005
Wiley Blackwell Blackwell Publishing Ltd |
Series | Journal of Business Finance & Accounting |
Subjects | |
Online Access | Get full text |
Cover
Loading…
Abstract | : This study examines credit union size‐growth relationships within the context of Gibrat's law of proportionate effect. This relates to the hypothesis that the growth of each firm in each period is random. The analysis covers the period 1994 to 2000 and is undertaken separately for the United Kingdom (UK) and its regions, Northern Ireland, England & Wales and Scotland. Sample attrition is a characteristic of the data and to avoid the problem of survivorship bias the inverse of the Mill's ratio, obtained from a probit regression for surviving credit unions, is introduced into the estimating relationship. In terms of the empirical results, little evidence emerged to support the law of proportionate effect as a theoretical paradigm. Although not universal, three broad findings emerged. First, small credit unions on average grow faster than their larger counterparts, although there was also some evidence of non‐linearity in this relationship. Secondly, growth persistence pertained with credit unions which experienced above average growth (below average growth) in one period, experiencing above average growth (below average growth) in the next. Thirdly, variability of growth was not independent of size with the cross‐sectional variance of the error term inversely related to size suggesting that small credit unions have greater growth variability than larger ones. |
---|---|
AbstractList | This study examines credit union size-growth relationships within the context of Gibrat's law of proportionate effect. This relates to the hypothesis that the growth of each firm in each period is random. The analysis covers the period 1994 to 2000 and is undertaken separately for the United Kingdom (UK) and its regions, Northern Ireland, England & Wales and Scotland. Sample attrition is a characteristic of the data and to avoid the problem of survivorship bias the inverse of the Mill's ratio, obtained from a probit regression for surviving credit unions, is introduced into the estimating relationship. In terms of the empirical results, little evidence emerged to support the law of proportionate effect as a theoretical paradigm. Although not universal, three broad findings emerged. First, small credit unions on average grow faster than their larger counterparts, although there was also some evidence of non-linearity in this relationship. Secondly, growth persistence pertained with credit unions which experienced above average growth (below average growth) in one period, experiencing above average growth (below average growth) in the next. Thirdly, variability of growth was not independent of size with the cross-sectional variance of the error term inversely related to size suggesting that small credit unions have greater growth variability than larger ones. Reprinted by permission of Blackwell Publishers This study examines credit union size-growth relationships within the context of Gibrat's law of proportionate effect. This relates to the hypothesis that the growth of each firm in each period is random. The analysis covers the period 1994 to 2000 and is undertaken separately for the United Kingdom (UK) and its regions, Northern Ireland, England & Wales and Scotland. Sample attrition is a characteristic of the data and to avoid the problem of survivorship bias the inverse of the Mill's ratio, obtained from a probit regression for surviving credit unions, is introduced into the estimating relationship. In terms of the empirical results, little evidence emerged to support the law of proportionate effect as a theoretical paradigm. Although not universal, three broad findings emerged. First, small credit unions on average grow faster than their larger counterparts, although there was also some evidence of non-linearity in this relationship. Secondly, growth persistence pertained with credit unions which experienced above average growth (below average growth) in one period, experiencing above average growth (below average growth) in the next. Thirdly, variability of growth was not independent of size with the cross-sectional variance of the error term inversely related to size suggesting that small credit unions have greater growth variability than larger ones. [PUBLICATION ABSTRACT] This study examines credit union size‐growth relationships within the context of Gibrat's law of proportionate effect. This relates to the hypothesis that the growth of each firm in each period is random. The analysis covers the period 1994 to 2000 and is undertaken separately for the United Kingdom (UK) and its regions, Northern Ireland, England & Wales and Scotland. Sample attrition is a characteristic of the data and to avoid the problem of survivorship bias the inverse of the Mill's ratio, obtained from a probit regression for surviving credit unions, is introduced into the estimating relationship. In terms of the empirical results, little evidence emerged to support the law of proportionate effect as a theoretical paradigm. Although not universal, three broad findings emerged. First, small credit unions on average grow faster than their larger counterparts, although there was also some evidence of non‐linearity in this relationship. Secondly, growth persistence pertained with credit unions which experienced above average growth (below average growth) in one period, experiencing above average growth (below average growth) in the next. Thirdly, variability of growth was not independent of size with the cross‐sectional variance of the error term inversely related to size suggesting that small credit unions have greater growth variability than larger ones. : This study examines credit union size‐growth relationships within the context of Gibrat's law of proportionate effect. This relates to the hypothesis that the growth of each firm in each period is random. The analysis covers the period 1994 to 2000 and is undertaken separately for the United Kingdom (UK) and its regions, Northern Ireland, England & Wales and Scotland. Sample attrition is a characteristic of the data and to avoid the problem of survivorship bias the inverse of the Mill's ratio, obtained from a probit regression for surviving credit unions, is introduced into the estimating relationship. In terms of the empirical results, little evidence emerged to support the law of proportionate effect as a theoretical paradigm. Although not universal, three broad findings emerged. First, small credit unions on average grow faster than their larger counterparts, although there was also some evidence of non‐linearity in this relationship. Secondly, growth persistence pertained with credit unions which experienced above average growth (below average growth) in one period, experiencing above average growth (below average growth) in the next. Thirdly, variability of growth was not independent of size with the cross‐sectional variance of the error term inversely related to size suggesting that small credit unions have greater growth variability than larger ones. This study examines credit union size-growth relationships within the context of Gibrat's law of proportionate effect. This relates to the hypothesis that the growth of each firm in each period is random. The analysis covers the period 1994 to 2000 and is undertaken separately for the United Kingdom (UK) and its regions, Northern Ireland, England & Wales and Scotland. Sample attrition is a characteristic of the data and to avoid the problem of survivorship bias the inverse of the Mill's ratio, obtained from a probit regression for surviving credit unions, is introduced into the estimating relationship. In terms of the empirical results, little evidence emerged to support the law of proportionate effect as a theoretical paradigm. Although not universal, three broad findings emerged. First, small credit unions on average grow faster than their larger counterparts, although there was also some evidence of non-linearity in this relationship. Secondly, growth persistence pertained with credit unions which experienced above average growth (below average growth) in one period, experiencing above average growth (below average growth) in the next. Thirdly, variability of growth was not independent of size with the cross-sectional variance of the error term inversely related to size suggesting that small credit unions have greater growth variability than larger ones. Copyright Blackwell Publishers Ltd, 2005. |
Author | McKillop, Donal G. Ward, Ann-Marie |
Author_xml | – sequence: 1 givenname: Ann-Marie surname: Ward fullname: Ward, Ann-Marie email: a.m.ward@qub.ac.uk organization: E-mail: a.m.ward@qub.ac.uk – sequence: 2 givenname: Donal G. surname: McKillop fullname: McKillop, Donal G. |
BackLink | http://econpapers.repec.org/article/blajbfnac/v_3a32_3ay_3a2005-11_3ai_3a9-10_3ap_3a1827-1859.htm$$DView record in RePEc |
BookMark | eNqNkV1v0zAUhi00JLrBf7C44C7FH3GcIHExuq2wlQHTKiZuLMc5oQlpHBz369_jNKgXXGHp2DnS87xyfM7RWWtbQAhTMqVhva2nhJMkStLkacoIEVNCkjib7p-hCY2TNBKZkGdocoJeoPO-rwkhjCZygurHFeCF3mFb4q_Odtb5yrbaA74uSzD-HR6AubM7vxoYH7rlHZ45KCqPl22A8We7hTW0HmuP7_XRb7BuC_wAP8dmAVtoXqLnpW56ePX3vEDLm-vH2cdo8WX-aXa5iIyQJIsYZZmhJo-55sDKGJgoaF7qDFKtc0iMSGnB8pwnMaQlFblgBTVFEfo4lsLwC_RmzO2c_b2B3qt11RtoGt2C3fSKSymkZFkAX_8D1nbjwn17xbgkPCZpEqB0hIyzfe-gVJ2r1todFCVqmICq1fC4anhcNUxAHSeg9kF9GFUHHZiTlze6zstWG7VV4R9Z2A6hjmqI47oKlQ3xXHehaMqkoqnI1MqvQ-j7MXRXNXD478uo2w83l-Er-NHoV72H_cnX7pdKJJdCfb-fq6tvVz_obXannvgfo9q4Jg |
CitedBy_id | crossref_primary_10_1016_j_bar_2012_09_001 crossref_primary_10_1057_ces_2009_6 crossref_primary_10_1016_j_cya_2017_09_006 crossref_primary_10_1016_j_iref_2023_03_027 crossref_primary_10_1111_j_1467_8292_2010_00414_x crossref_primary_10_1080_14631377_2020_1727265 crossref_primary_10_1016_j_cya_2017_10_004 crossref_primary_10_1080_1331677X_2020_1722722 crossref_primary_10_2139_ssrn_1702782 crossref_primary_10_1016_j_bar_2017_11_006 crossref_primary_10_1155_2022_7593811 crossref_primary_10_1007_s11192_019_03165_1 crossref_primary_10_1111_j_1468_0416_2011_00166_x crossref_primary_10_1108_JAMR_02_2023_0053 crossref_primary_10_5424_sjar_2013114_3994 |
Cites_doi | 10.1016/S0378-4266(01)00203-5 10.1080/00036840122263 10.1086/230541 10.2307/2950485 10.1086/295735 10.2307/2098540 10.1080/000368400404245 10.1007/BF00389853 10.2307/1924043 10.1111/j.1540-6261.1974.tb03122.x 10.1111/j.1468-5957.1994.tb00303.x 10.1023/A:1007972518380 10.1080/13571510050197212 10.19030/jabr.v5i2.6361 10.1016/S0377-2217(96)00342-6 10.2307/2296816 10.2307/2097961 10.1111/1539-6975.00038 10.1111/1467-8292.00198 10.1086/296196 10.1080/00036849108841034 10.2307/2077876 10.2307/2235518 10.1007/BF00393810 10.1016/S0378-4266(01)00164-9 10.1016/S0167-7187(00)00085-0 10.1111/j.1540-6261.1981.tb00471.x 10.1111/1467-9302.00355 10.2307/1912352 10.1111/j.1536-7150.1994.tb02590.x |
ContentType | Journal Article |
Copyright | Copyright Blackwell Publishing Nov 2005 |
Copyright_xml | – notice: Copyright Blackwell Publishing Nov 2005 |
DBID | BSCLL DKI X2L AAYXX CITATION 8BJ FQK JBE |
DOI | 10.1111/j.0306-686X.2005.00649.x |
DatabaseName | Istex RePEc IDEAS RePEc CrossRef International Bibliography of the Social Sciences (IBSS) International Bibliography of the Social Sciences International Bibliography of the Social Sciences |
DatabaseTitle | CrossRef International Bibliography of the Social Sciences (IBSS) |
DatabaseTitleList | International Bibliography of the Social Sciences (IBSS) International Bibliography of the Social Sciences (IBSS) CrossRef |
Database_xml | – sequence: 1 dbid: DKI name: RePEc IDEAS url: http://ideas.repec.org/ sourceTypes: Index Database |
DeliveryMethod | fulltext_linktorsrc |
Discipline | Business |
EISSN | 1468-5957 |
EndPage | 1859 |
ExternalDocumentID | 928390451 10_1111_j_0306_686X_2005_00649_x blajbfnac_v_3a32_3ay_3a2005_11_3ai_3a9_10_3ap_3a1827_1859_htm JBFA649 ark_67375_WNG_DQDZ1J9K_X |
Genre | article Feature |
GeographicLocations | United Kingdom--UK |
GeographicLocations_xml | – name: United Kingdom--UK |
GroupedDBID | -~X .3N .GA .Y3 05W 0R~ 10A 1OB 1OC 1XV 29K 31~ 33P 3EH 4.4 41~ 50Y 50Z 51W 51Y 52M 52O 52Q 52S 52T 52U 52W 5GY 5HH 5LA 5VS 66C 702 7PT 8-0 8-1 8-3 8-4 8-5 8UM 8VB 930 A04 AABCJ AABNI AAESR AAHHS AAONW AAOUF AASGY AAXRX AAYOK AAZKR ABCQN ABCUV ABEML ABJNI ABPPZ ABPVW ABSOO ABTAH ACAHQ ACBKW ACBWZ ACCFJ ACCZN ACFBH ACGFO ACGFS ACHQT ACNCT ACPOU ACSCC ACXQS ADBBV ADEMA ADEOM ADIZJ ADKYN ADMGS ADMHG ADXAS ADZMN ADZOD AEEZP AEGXH AEIGN AEIMD AEMOZ AEQDE AEUQT AEUYR AFBPY AFEBI AFFNX AFFPM AFGKR AFKFF AFPWT AFZJQ AHBTC AHEFC AIAGR AIFKG AIURR AIWBW AJBDE AKVCP ALAGY ALMA_UNASSIGNED_HOLDINGS ALUQN AMBMR AMYDB ASPBG ASTYK AVWKF AZBYB AZFZN AZVAB BAFTC BDRZF BFHJK BKOMP BMXJE BNVMJ BQESF BROTX BRXPI BSCLL BY8 CAG COF CS3 D-C D-D D-I DC6 DCZOG DJZPD DPXWK DR2 DRFUL DRSSH EBA EBE EBO EBR EBS EBU EJD EMK F00 F01 FEDTE FZ0 G-S G.N G50 GODZA HGLYW HVGLF HZI HZ~ IHE IX1 J0M K1G K48 LATKE LC2 LC4 LEEKS LH4 LITHE LOXES LP6 LP7 LUTES LW6 LYRES MEWTI MK4 MRFUL MRSSH MSFUL MSSSH MXFUL MXSSH N04 N06 N9A NEJ NF~ O66 O9- OIG P2P P2W P2Y P4C PALCI PQQKQ Q.N Q11 QB0 QWB R.K RIWAO RJQFR ROL RX1 RXW SAMSI SUPJJ TAE TH9 TN5 U5U UB1 UPT V8K W8V W99 WBKPD WEBCB WH7 WIH WII WOHZO WQZ WRC WSUWO WXSBR XG1 XSW ZL0 ZY4 ZZTAW ~IA ~WP 08R 0R 31 3N 41 ABFLS ABWRO ACXME ADDAD AFVGU AGJLS AJYWA DKI GA HZ IA IPNFZ NF P4A PQEST QVA RIG WP X X2L XFK Y3 AAMNL AAYXX ACRPL CITATION 8BJ FQK JBE ACYXJ AHQJS |
ID | FETCH-LOGICAL-c5709-2129c1cb43a3e2f4e25d1bfa9e8aabe6c581d2bb364e8f15b52d1cdd3644475c3 |
IEDL.DBID | DR2 |
ISSN | 0306-686X |
IngestDate | Mon Dec 16 07:00:31 EST 2024 Thu Oct 10 19:44:28 EDT 2024 Fri Dec 06 00:41:54 EST 2024 Wed Aug 18 03:13:22 EDT 2021 Sat Aug 24 01:02:20 EDT 2024 Wed Oct 30 09:54:29 EDT 2024 |
IsPeerReviewed | true |
IsScholarly | true |
Issue | 9-10 |
Language | English |
License | http://onlinelibrary.wiley.com/termsAndConditions#vor |
LinkModel | DirectLink |
MergedId | FETCHMERGED-LOGICAL-c5709-2129c1cb43a3e2f4e25d1bfa9e8aabe6c581d2bb364e8f15b52d1cdd3644475c3 |
Notes | ark:/67375/WNG-DQDZ1J9K-X ArticleID:JBFA649 istex:F774EA87C639D3967D719A23FBA79F74A8775724 The authors are respectively, Lecturer in Accounting at Queen's University, Belfast; and Professor of Financial Services at Queen's University, Belfast. They are grateful for the very useful comments of the anonymous referees on an earlier draft of the paper. ObjectType-Article-2 SourceType-Scholarly Journals-1 ObjectType-Feature-1 content type line 23 |
PQID | 237034086 |
PQPubID | 38035 |
PageCount | 33 |
ParticipantIDs | proquest_miscellaneous_37757729 proquest_journals_237034086 crossref_primary_10_1111_j_0306_686X_2005_00649_x repec_primary_blajbfnac_v_3a32_3ay_3a2005_11_3ai_3a9_10_3ap_3a1827_1859_htm wiley_primary_10_1111_j_0306_686X_2005_00649_x_JBFA649 istex_primary_ark_67375_WNG_DQDZ1J9K_X |
PublicationCentury | 2000 |
PublicationDate | November 2005 |
PublicationDateYYYYMMDD | 2005-11-01 |
PublicationDate_xml | – month: 11 year: 2005 text: November 2005 |
PublicationDecade | 2000 |
PublicationPlace | Oxford, UK; Malden, USA |
PublicationPlace_xml | – name: Oxford, UK; Malden, USA – name: Oxford |
PublicationSeriesTitle | Journal of Business Finance & Accounting |
PublicationTitle | Journal of business finance & accounting |
PublicationYear | 2005 |
Publisher | Blackwell Publishing Ltd/Inc Wiley Blackwell Blackwell Publishing Ltd |
Publisher_xml | – name: Blackwell Publishing Ltd/Inc – name: Wiley Blackwell – name: Blackwell Publishing Ltd |
References | Yeats, A.J., E.D. Irons and S.A. Rhoades 1975, 'An Analysis of New Bank Growth', Journal of Business, Vol. 48, pp. 199-203. Goddard, J.A., J.O.S. Wilson and P. Blandon 2002, 'Panel Tests of Gibrat's Law for Japanese Manufacturing', International Journal of Industrial Organization, Vol. 20, pp. 415-33. Contini, B. and R. Revelli 1989, 'The Relationship Between Firm Growth and Labour Demand', Small Business Economics, Vol. 1, pp. 309-14. Reichert, A.K. and J.H. Rubens 1994, 'Risk Management Techniques Employed Within the US Credit Union Industry', Journal of Business Finance & Accounting, Vol. 21, pp. 15-35. Barron, D.N. 1995, 'Credit Unions: Density-Dependent Evolution', in G. Carroll and M. Hannan (eds.), 'Organisations in Industory' (Oxford University Press), pp. 137-62. Mansfield, E. 1962, 'Entry, Gibrat's Law, Innovation, and the Growth of Firms', American Economic Review, Vol. 52, pp. 1023-51. Berger, A.N. and D.B. Humphrey 1997, 'Efficiency of Financial Institutions: International Survey and Directions for Future Research', European Journal of Operations Research, Vol. 98, pp. 175-212. Dunne, P. and A. Hughes 1994, 'Age, Size, Growth and Survival: UK Companies in the 1980's', Journal of Industrial Economics, Vol. 42, pp. 115-40. Ferguson, C. and D.G. McKillop 1997, The Strategic Development of Credit Unions(Chichester, John Wiley & Sons Limited). Kumar, M.S. 1985, 'Growth, Acquisition Activity and Firm Size: Evidence from the UK', Journal of Industrial Economics, Vol. 33, pp. 327-38. Hardwick, P. and M.B. Adams 2002, 'Firm Size and Growth in the United Kingdom Life Insurance Industry', Journal of Risk and Insurance, Vol. 69, pp. 577-93. Hart, P.E. and N. Oulton 1996, 'The Size and Growth of Firms', Economic Journal, Vol. 106, pp. 1242-52. Croteau, J.T. 1963, The Economics of the Credit Union(Wayne State University Press, Detroit). McKillop, D.G., J.C. Glass and C. Ferguson 2002, 'Investigating the Cost Performance of UK Credit Unions Using Radial and Non-Radial Efficiency Measures', Journal of Banking and Finance, Vol. 26, pp. 1563-91. Kempson, E. and C. Whyley 1998, Kept Out or Opted Out? Understanding and Combating Financial Exclusion(Bristol: Policy Press). Gibrat, R. 1931, Les Inegalities Economiques(Paris: Sirey). Tschoegl, A.E. 1983, 'Size, Growth and Transnationality Among the World's Largest Banks', Journal of Business, Vol. 56, pp. 187-201. Lucey, B.M. 1996, 'Examining the Profit-Efficiency Relationship in Irish Credit Institutions', Irish Journal of Business and Administrative Research, Vol. 17, pp. 110-21. Wagner, J. 1992, 'Firm Size, Firm Growth and Persistence of Change: Testing Gibrat's Law with Establishment Data from Lower Saxony, 1978-1989', Small Business Economics, Vol. 4, pp. 125-31. Heckman, J.J. 1979, 'Sample Selection Bias as a Specification Error', Econometrica, Vol. 47, pp. 153-62. Sutton, J. 1997, 'Gibrat's Legacy', Journal of Economic Literature, Vol. 35, pp. 40-59. Rhoades, S.A. and A.J. Yeats 1974, 'Growth, Consolidation and Mergers in Banking', Journal of Finance, Vol. 29, pp. 1397-405. Wilson, J.O.S. and J. Williams 2000, 'The Size and Growth of Banks: Evidence from Four European Countries', Applied Economics, Vol. 32, pp. 1101-9. Kaushik, S.K. and R.H. Lopez 1994, 'The Structure and Growth of the Credit Union Industry in the United States (Meeting Challenges of the Market)', American Journal of Economics and Sociology, Vol. 53, pp. 219-43. McKillop, D.G. and J. Wilson 2003, 'Credit Unions in Britain: A Time for Change', Public Money and Management, Vol. 23, pp. 119-23 Black, H. and R. Dugger 1981, 'Credit Union Structure, Growth and Regulatory Problems', The Journal of Finance, Vol. 36, pp. 529-38. Chesher, A. 1979, 'Testing the Law of Proportionate Effect', Journal of Industrial Economics, Vol. 27, pp. 403-11. Hameeteman, D. and B. Scholtens 2000, 'Size, Growth and Variance Among the World's Largest Non-Merged Banks', International Journal of the Economics of Business, Vol. 7, pp. 313-23. Keating, M.O. and B.P. Keating 1989, 'Invidious Competition or Benevolence: Does Not-for-Profit Status Constrain the Behaviour of Credit Unions?' The Journal of Applied Business Research, Vol. 5, pp. 49-55. Goddard, J.A., P. Molyneux and J.O.S. Wilson 2001, European Banking: Efficiency, Technology and Growth(Chichester: Wiley). Patin, R.P. and D.W. McNeil 1991, 'Benefit Imbalances Among Credit Union Member Groups: Evidence of Borrower-Dominated, Saver-Dominated and Neutral Behaviour', Applied Economics, Vol. 23, pp. 769-79. Sibbald, A., C. Ferguson and D.G. McKillop 2002, 'An Examination of the Key Factors of Influence in the Development Process of Credit Union Industries', Annals of Public and Co-operative Economics. Vol. 73, pp. 399-428. Singh, A. and G. Whittington 1975, 'The Size and Growth of Firms', Review of Economic Studies, Vol. 42, pp. 15-26. Barron, D.N., E. West and M.T. Hannon 1994, 'A Time to Grow and a Time to Die: Growth and Mortality of Credit Unions in New York City, 1914-1990', American Journal of Sociology, Vol. 100, pp. 381-421. Shepherd, W.G. 1997, 'The Economics of Industrial Organization'(New Jersey: Prentice Hall). Berger, A.N. 1995, 'The Profit-Structure Relationship in Banking - Tests of Market Power and Efficient Structure Hypothesis', Journal of Money Credit and Banking, Vol. 27, pp. 404-31. Weiss, C.R. 1998, 'Size, Growth and Survival in the Upper Austrian Farm Sector', Small Business Economics, Vol. 10, pp. 305-12. Alhadeff, D.A. and C.P. Alhadeff 1964, 'Growth of Large Banks, 1930-1960', Review of Economics and Statistics, Vol. 46, pp. 356-63. Simon, H.A. and C.P. Bonnini 1958, 'The Size Distribution of Business Firms', American Economic Review, Vol. 48, pp. 607-17. Goddard, J.A., D.G. McKillop and J.O.S. Wilson 2002, 'The Growth of US Credit Unions', Journal of Banking and Finance. Vol. 26, pp. 2327-56. Rose, P.S. 1987, 'The Changing Structure of American Banking'(New York: Columbia University Press). Vander Vennet, R. 2001, 'The Law of Proportionate Effect and OECD Bank Sectors', Applied Economics, Vol. 33, pp. 539-46. 1989; 5 1996; 17 1989; 1 2002; 73 2000; 7 1998 1997 1931 1996 1995 1993 2004 1964; 46 1962; 52 1996; 106 1994; 21 1999 1994; 42 1983; 56 1979; 27 2002; 69 1994; 100 2002; 26 1979; 47 1990 2001 1991; 23 1995; 27 1997; 98 2002; 20 2000 1958; 48 2000; 32 1997; 35 1981; 36 1987 1963 1975; 48 1975; 42 1985; 33 2001; 33 1998; 10 1974; 29 1992; 4 1994; 53 2003; 23 e_1_2_7_3_1 Lucey B.M (e_1_2_7_31_1) 1996; 17 e_1_2_7_9_1 e_1_2_7_7_1 e_1_2_7_15_1 e_1_2_7_41_1 e_1_2_7_43_1 e_1_2_7_11_1 e_1_2_7_45_1 e_1_2_7_47_1 e_1_2_7_26_1 e_1_2_7_49_1 e_1_2_7_28_1 Kempson E. (e_1_2_7_29_1) 1998 Barron D.N (e_1_2_7_5_1) 1995 e_1_2_7_50_1 e_1_2_7_25_1 e_1_2_7_23_1 e_1_2_7_33_1 e_1_2_7_21_1 e_1_2_7_35_1 Ferguson C. (e_1_2_7_16_1) 1997 e_1_2_7_37_1 e_1_2_7_39_1 Simon H.A. (e_1_2_7_42_1) 1958; 48 e_1_2_7_6_1 Mansfield E (e_1_2_7_32_1) 1962; 52 e_1_2_7_4_1 Shepherd W.G (e_1_2_7_40_1) 1997 e_1_2_7_8_1 e_1_2_7_18_1 e_1_2_7_2_1 e_1_2_7_14_1 e_1_2_7_12_1 e_1_2_7_10_1 e_1_2_7_46_1 Croteau J.T (e_1_2_7_13_1) 1963 e_1_2_7_48_1 e_1_2_7_27_1 Rose P.S (e_1_2_7_38_1) 1987 Sutton J (e_1_2_7_44_1) 1997; 35 e_1_2_7_51_1 e_1_2_7_30_1 e_1_2_7_24_1 e_1_2_7_22_1 e_1_2_7_34_1 e_1_2_7_20_1 e_1_2_7_36_1 Goddard J.A. (e_1_2_7_19_1) 2001 Gibrat R (e_1_2_7_17_1) 1931 |
References_xml | – volume: 36 start-page: 529 year: 1981 end-page: 38 article-title: ‘Credit Union Structure, Growth and Regulatory Problems’ publication-title: The Journal of Finance – volume: 52 start-page: 1023 year: 1962 end-page: 51 article-title: ‘Entry, Gibrat's Law, Innovation, and the Growth of Firms’ publication-title: American Economic Review – volume: 56 start-page: 187 year: 1983 end-page: 201 article-title: ‘Size, Growth and Transnationality Among the World's Largest Banks’ publication-title: Journal of Business – volume: 100 start-page: 381 year: 1994 end-page: 421 article-title: ‘A Time to Grow and a Time to Die: Growth and Mortality of Credit Unions in New York City, 1914–1990’ publication-title: American Journal of Sociology – volume: 48 start-page: 607 year: 1958 end-page: 17 article-title: ‘The Size Distribution of Business Firms’ publication-title: American Economic Review – volume: 10 start-page: 305 year: 1998 end-page: 12 article-title: ‘Size, Growth and Survival in the Upper Austrian Farm Sector’ publication-title: Small Business Economics – volume: 26 start-page: 1563 year: 2002 end-page: 91 article-title: ‘Investigating the Cost Performance of UK Credit Unions Using Radial and Non‐Radial Efficiency Measures’, publication-title: Journal of Banking and Finance – year: 1931 – volume: 5 start-page: 49 year: 1989 end-page: 55 article-title: ‘Invidious Competition or Benevolence: Does Not‐for‐Profit Status Constrain the Behaviour of Credit Unions?’ publication-title: The Journal of Applied Business Research – volume: 32 start-page: 1101 year: 2000 end-page: 9 article-title: ‘The Size and Growth of Banks: Evidence from Four European Countries’ publication-title: Applied Economics – volume: 26 start-page: 2327 year: 2002 end-page: 56 article-title: ‘The Growth of US Credit Unions’ publication-title: Journal of Banking and Finance – year: 2001 – year: 1987 – volume: 27 start-page: 404 year: 1995 end-page: 31 article-title: ‘The Profit‐Structure Relationship in Banking – Tests of Market Power and Efficient Structure Hypothesis’ publication-title: Journal of Money Credit and Banking – volume: 42 start-page: 115 year: 1994 end-page: 40 article-title: ‘Age, Size, Growth and Survival: UK Companies in the 1980’s’ publication-title: Journal of Industrial Economics – volume: 20 start-page: 415 year: 2002 end-page: 33 article-title: ‘Panel Tests of Gibrat's Law for Japanese Manufacturing’ publication-title: International Journal of Industrial Organization – year: 2000 – volume: 4 start-page: 125 year: 1992 end-page: 31 article-title: ‘Firm Size, Firm Growth and Persistence of Change: Testing Gibrat's Law with Establishment Data from Lower Saxony, 1978–1989’ publication-title: Small Business Economics – volume: 23 start-page: 769 year: 1991 end-page: 79 article-title: ‘Benefit Imbalances Among Credit Union Member Groups: Evidence of Borrower‐Dominated, Saver‐Dominated and Neutral Behaviour’ publication-title: Applied Economics – year: 1990 – volume: 48 start-page: 199 year: 1975 end-page: 203 article-title: ‘An Analysis of New Bank Growth’ publication-title: Journal of Business – volume: 73 start-page: 399 year: 2002 end-page: 428 article-title: ‘An Examination of the Key Factors of Influence in the Development Process of Credit Union Industries’, publication-title: Annals of Public and Co‐operative Economics – year: 1998 – volume: 42 start-page: 15 year: 1975 end-page: 26 article-title: ‘The Size and Growth of Firms’ publication-title: Review of Economic Studies – volume: 7 start-page: 313 year: 2000 end-page: 23 article-title: ‘Size, Growth and Variance Among the World's Largest Non‐Merged Banks’ publication-title: International Journal of the Economics of Business – volume: 33 start-page: 327 year: 1985 end-page: 38 article-title: ‘Growth, Acquisition Activity and Firm Size: Evidence from the UK’ publication-title: Journal of Industrial Economics – year: 1963 – volume: 69 start-page: 577 year: 2002 end-page: 93 article-title: ‘Firm Size and Growth in the United Kingdom Life Insurance Industry’ publication-title: Journal of Risk and Insurance – start-page: 21 year: 1996 – volume: 1 start-page: 309 year: 1989 end-page: 14 article-title: ‘The Relationship Between Firm Growth and Labour Demand’ publication-title: Small Business Economics – volume: 27 start-page: 403 year: 1979 end-page: 11 article-title: ‘Testing the Law of Proportionate Effect’ publication-title: Journal of Industrial Economics – volume: 106 start-page: 1242 year: 1996 end-page: 52 article-title: ‘The Size and Growth of Firms’ publication-title: Economic Journal – volume: 21 start-page: 15 year: 1994 end-page: 35 article-title: ‘Risk Management Techniques Employed Within the US Credit Union Industry’ publication-title: Journal of Business Finance & Accounting – volume: 53 start-page: 219 year: 1994 end-page: 43 article-title: ‘The Structure and Growth of the Credit Union Industry in the United States (Meeting Challenges of the Market)’ publication-title: American Journal of Economics and Sociology – year: 2004 – year: 1997 – volume: 35 start-page: 40 year: 1997 end-page: 59 article-title: ‘Gibrat's Legacy’ publication-title: Journal of Economic Literature – volume: 46 start-page: 356 year: 1964 end-page: 63 article-title: ‘Growth of Large Banks, 1930–1960’ publication-title: Review of Economics and Statistics – start-page: 137 year: 1995 end-page: 62 article-title: ‘Credit Unions: Density‐Dependent Evolution’ publication-title: ‘Organisations in Industory’ – volume: 23 start-page: 119 year: 2003 end-page: 23 article-title: ‘Credit Unions in Britain: A Time for Change’ publication-title: Public Money and Management – volume: 33 start-page: 539 year: 2001 end-page: 46 article-title: ‘The Law of Proportionate Effect and OECD Bank Sectors’ publication-title: Applied Economics – volume: 47 start-page: 153 year: 1979 end-page: 62 article-title: ‘Sample Selection Bias as a Specification Error’ publication-title: Econometrica – volume: 29 start-page: 1397 year: 1974 end-page: 405 article-title: ‘Growth, Consolidation and Mergers in Banking’ publication-title: Journal of Finance – volume: 17 start-page: 110 year: 1996 end-page: 21 article-title: ‘Examining the Profit‐Efficiency Relationship in Irish Credit Institutions’ publication-title: Irish Journal of Business and Administrative Research – year: 1993 – volume: 98 start-page: 175 year: 1997 end-page: 212 article-title: ‘Efficiency of Financial Institutions: International Survey and Directions for Future Research’ publication-title: European Journal of Operations Research – year: 1999 – ident: e_1_2_7_18_1 doi: 10.1016/S0378-4266(01)00203-5 – volume: 35 start-page: 40 year: 1997 ident: e_1_2_7_44_1 article-title: ‘Gibrat's Legacy’ publication-title: Journal of Economic Literature contributor: fullname: Sutton J – ident: e_1_2_7_46_1 doi: 10.1080/00036840122263 – ident: e_1_2_7_6_1 doi: 10.1086/230541 – ident: e_1_2_7_15_1 doi: 10.2307/2950485 – volume-title: Les Inegalities Economiques year: 1931 ident: e_1_2_7_17_1 contributor: fullname: Gibrat R – ident: e_1_2_7_51_1 doi: 10.1086/295735 – ident: e_1_2_7_30_1 doi: 10.2307/2098540 – volume-title: ‘The Economics of Industrial Organization’ year: 1997 ident: e_1_2_7_40_1 contributor: fullname: Shepherd W.G – ident: e_1_2_7_49_1 doi: 10.1080/000368400404245 – ident: e_1_2_7_11_1 – ident: e_1_2_7_25_1 – ident: e_1_2_7_47_1 doi: 10.1007/BF00389853 – ident: e_1_2_7_3_1 doi: 10.2307/1924043 – ident: e_1_2_7_37_1 doi: 10.1111/j.1540-6261.1974.tb03122.x – volume-title: The Strategic Development of Credit Unions year: 1997 ident: e_1_2_7_16_1 contributor: fullname: Ferguson C. – ident: e_1_2_7_4_1 – ident: e_1_2_7_39_1 – ident: e_1_2_7_2_1 – volume-title: European Banking: Efficiency, Technology and Growth year: 2001 ident: e_1_2_7_19_1 contributor: fullname: Goddard J.A. – ident: e_1_2_7_36_1 doi: 10.1111/j.1468-5957.1994.tb00303.x – ident: e_1_2_7_48_1 doi: 10.1023/A:1007972518380 – start-page: 137 year: 1995 ident: e_1_2_7_5_1 article-title: ‘Credit Unions: Density‐Dependent Evolution’ publication-title: ‘Organisations in Industory’ contributor: fullname: Barron D.N – volume: 48 start-page: 607 year: 1958 ident: e_1_2_7_42_1 article-title: ‘The Size Distribution of Business Firms’ publication-title: American Economic Review contributor: fullname: Simon H.A. – volume-title: Kept Out or Opted Out? Understanding and Combating Financial Exclusion year: 1998 ident: e_1_2_7_29_1 contributor: fullname: Kempson E. – volume: 52 start-page: 1023 year: 1962 ident: e_1_2_7_32_1 article-title: ‘Entry, Gibrat's Law, Innovation, and the Growth of Firms’ publication-title: American Economic Review contributor: fullname: Mansfield E – volume-title: The Economics of the Credit Union year: 1963 ident: e_1_2_7_13_1 contributor: fullname: Croteau J.T – ident: e_1_2_7_21_1 doi: 10.1080/13571510050197212 – ident: e_1_2_7_28_1 doi: 10.19030/jabr.v5i2.6361 – ident: e_1_2_7_8_1 doi: 10.1016/S0377-2217(96)00342-6 – ident: e_1_2_7_43_1 doi: 10.2307/2296816 – ident: e_1_2_7_14_1 – ident: e_1_2_7_10_1 doi: 10.2307/2097961 – ident: e_1_2_7_22_1 doi: 10.1111/1539-6975.00038 – volume: 17 start-page: 110 year: 1996 ident: e_1_2_7_31_1 article-title: ‘Examining the Profit‐Efficiency Relationship in Irish Credit Institutions’ publication-title: Irish Journal of Business and Administrative Research contributor: fullname: Lucey B.M – ident: e_1_2_7_41_1 doi: 10.1111/1467-8292.00198 – ident: e_1_2_7_45_1 doi: 10.1086/296196 – ident: e_1_2_7_35_1 doi: 10.1080/00036849108841034 – ident: e_1_2_7_7_1 doi: 10.2307/2077876 – ident: e_1_2_7_23_1 doi: 10.2307/2235518 – volume-title: ‘The Changing Structure of American Banking’ year: 1987 ident: e_1_2_7_38_1 contributor: fullname: Rose P.S – ident: e_1_2_7_12_1 doi: 10.1007/BF00393810 – ident: e_1_2_7_34_1 doi: 10.1016/S0378-4266(01)00164-9 – ident: e_1_2_7_20_1 doi: 10.1016/S0167-7187(00)00085-0 – ident: e_1_2_7_50_1 – ident: e_1_2_7_9_1 doi: 10.1111/j.1540-6261.1981.tb00471.x – ident: e_1_2_7_26_1 – ident: e_1_2_7_33_1 doi: 10.1111/1467-9302.00355 – ident: e_1_2_7_24_1 doi: 10.2307/1912352 – ident: e_1_2_7_27_1 doi: 10.1111/j.1536-7150.1994.tb02590.x |
SSID | ssj0002167 |
Score | 1.8467709 |
Snippet | : This study examines credit union size‐growth relationships within the context of Gibrat's law of proportionate effect. This relates to the hypothesis that... This study examines credit union size-growth relationships within the context of Gibrat's law of proportionate effect. This relates to the hypothesis that the... This study examines credit union size‐growth relationships within the context of Gibrat's law of proportionate effect. This relates to the hypothesis that the... |
SourceID | proquest crossref repec wiley istex |
SourceType | Aggregation Database Index Database Publisher |
StartPage | 1827 |
SubjectTerms | Business studies Correlation analysis Credit co-operatives Credit unions Economic models Finance industry growth Industrywide conditions Regions Studies the law of proportionate effect United Kingdom |
Title | The Law of Proportionate Effect: The Growth of the UK Credit Union Movement at National and Regional Level |
URI | https://api.istex.fr/ark:/67375/WNG-DQDZ1J9K-X/fulltext.pdf https://onlinelibrary.wiley.com/doi/abs/10.1111%2Fj.0306-686X.2005.00649.x http://econpapers.repec.org/article/blajbfnac/v_3a32_3ay_3a2005-11_3ai_3a9-10_3ap_3a1827-1859.htm https://www.proquest.com/docview/237034086 https://search.proquest.com/docview/37757729 |
Volume | 32 |
hasFullText | 1 |
inHoldings | 1 |
isFullTextHit | |
isPrint | |
link | http://utb.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwrV3fb9MwELbQJk28ABsgwmD4AfGWSo7jpOFtrOtGOyaYqKh4sWzH2VhHUqUpjP31u3N-TEE8IMSDo0SJE_tyF3_nnL8j5HUklIm5xqVbDFOYZYGv0yD2RRYNI8XSMDQuyvc0Op6Fk7mYN_FPuBam5ofoJtzQMtz3Gg1c6VXPyBHu-nDLeTs1EoXJAPEk4zFG943O7pikAuaSyXZVekE9f75Rb6TaRKFf92DoZmmX1vRBrRuVxg_Jou1PHYyyGKwrPTA3v1E9_p8OPyIPGvBK92tt2yb3bL5DttrY-cfkEpSOnqiftMjoR0y_ULqZxsrSmiT5LcULjsDzry7wGgCfdDalByWMoBUF-Fvk9EPhGMwrqirakHZfUZWn9Mye1wcnGOf0hMzGh58Pjv0mmYNvRIx_cQBYGGZ0yBW3QRbaQKRMZyqxQ6W0jYwA5BxozaPQDjMmtAhSZtIUjpGT0PCnZCMvcvuM0ETERmsNzqwBvMkw7ykbamthYLWJyphHWPvi5LLm7JB3vg4KUaIQMQOnkE6I8tojb9wb7iqocoExb7GQX06P5OjT6CubJFM598huqwKyMfeVDDh8OEPwDj3yqjsLdoo_X1Rui_VK8jgW6Ml4ZOr0pnuQvlKXOsuVkT8kyCaAzS8ornHQYK6-QUmwA1wtoYBDGEtAWYm8qL57JHIq89f9lJN3433Ye_6vFXfJ_Zq9FmehXpCNqlzbl4DLKr0HFjd9v-fs7hY7Qig3 |
link.rule.ids | 314,780,784,1375,4009,27924,27925,46294,46718 |
linkProvider | Wiley-Blackwell |
linkToHtml | http://utb.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwrV3db9MwELfQKgEvML5ENsb8gHhLJSdx0vA2VrrSdhVMq6h4sWzHYWxdUmUpbPvruXM-piAeEOLBUaLESXy5i393ufyOkDchlzryFf66xbCEWeq5KvEil6fhIJQsCQJts3zn4XgRTJZ8WZcDwn9hKn6INuCGlmHf12jgGJDuWDniXRfOuWxiI2EQ9wFQ9sD6GeZ3DU_uuKQ8ZsvJtn06aT1_PlNnruqh2K87QLRXmLXRXVhr56XRY7JqRlSlo1z0N6Xq69vfyB7_05C3yaMav9KDSuGekHsme0ruN-nzz8g56B2dyZ80T-knrMBQ2GBjaWjFk_yO4gFH4PyXZ3gM4E-6mNLDAibRkgICzjN6nFsS85LKkta83Ssqs4SemG_VxgxTnZ6TxejD6eHYres5uJpH-CEHsIVmWgW-9I2XBsbjCVOpjM1ASmVCzQE8e0r5YWAGKeOKewnTSQLbSEuo_RdkK8sz85LQmEdaKQX-rAbIybD0KRsoY2BuNbFMmUNY8-TEuqLtEHfuDgpRoBCxCCcXVoji2iFv7SNuO8jiAtPeIi6-zI_E8PPwK5vEU7F0yG6jA6K2-Cvh-fDuDMBBdMh-uxdMFb-_yMzkmyvhRxFHZ8YhU6s47YXUSp6rNJNa_BAgGw8WN9DszcEN-_I7tBgH4Ms1NPAJIwFAKxZn5aVDQqszfz1OMXk_OoC1nX_tuE8ejE-PZ2L2cT7dJQ8rMlsMSr0iW2WxMXsA00r12prfL9qpK18 |
linkToPdf | http://utb.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwrV3db9MwELfQKk288I0IA-YHxFsq2YmThrex0o22VGOiouLFsh1nYx1JlaUw-Ou5cz6mIB4Q4sFRosSJfbmLf-ecf0fIy0goEwcal24xTGGWcV-nPPZFFo0ixdIwNC7KdxEdL8PpSqya-CdcC1PzQ3QTbmgZ7nuNBr5Js56RI9z14ZardmokCpMh4MlBGPEEefTHpzdUUpy5bLJdnV5Uz5_v1BuqBij16x4OHZR2Y00f1bphaXKXrNsO1dEo6-G20kPz8zeux__T43vkToNe6UGtbvfJLZs_ILtt8PxDcgFaR-fqOy0yeoL5F0o31VhZWrMkv6Z4wRG4_tU5XgPoky5n9LCEIbSigH-LnL4vHIV5RVVFG9buS6rylJ7as_pgjoFOj8hy8vbj4bHfZHPwjYjxNw4gC8OMDgMVWJ6FlouU6UwldqSUtpERAJ251kEU2lHGhBY8ZSZN4RhJCU3wmOzkRW6fEJqI2GitwZs1ADgZJj5lI20tjKw2URnzCGtfnNzUpB3yxtlBIUoUIqbgFNIJUV575JV7w10FVa4x6C0W8tPiSI4_jD-zaTKTK4_stSogG3u_kjyAL2cI7qFH9ruzYKj490XlttheySCOBboyHpk5vekepC_Vhc5yZeQ3CbLhsPkBxTUOGhyoL1AS7ECgNlDAI4wlwKxEnldfPRI5lfnrfsrpm8kB7D3914r7ZPdkPJHzd4vZHrldM9nijNQzslOVW_scMFqlXzjj-wUf0ioO |
openUrl | ctx_ver=Z39.88-2004&ctx_enc=info%3Aofi%2Fenc%3AUTF-8&rfr_id=info%3Asid%2Fsummon.serialssolutions.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=The+Law+of+Proportionate+Effect%3A+The+Growth+of+the+UK+Credit+Union+Movement+at+National+and+Regional+Level&rft.jtitle=Journal+of+business+finance+%26+accounting&rft.au=Ward%2C+Ann-Marie&rft.au=McKillop%2C+Donal+G.&rft.date=2005-11-01&rft.pub=Blackwell+Publishing+Ltd%2FInc&rft.issn=0306-686X&rft.eissn=1468-5957&rft.volume=32&rft.issue=9-10&rft.spage=1827&rft.epage=1859&rft_id=info:doi/10.1111%2Fj.0306-686X.2005.00649.x&rft.externalDBID=n%2Fa&rft.externalDocID=ark_67375_WNG_DQDZ1J9K_X |
thumbnail_l | http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/lc.gif&issn=0306-686X&client=summon |
thumbnail_m | http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/mc.gif&issn=0306-686X&client=summon |
thumbnail_s | http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/sc.gif&issn=0306-686X&client=summon |