Financial agglomerations in the UK: geographical cluster size and firm performance

Kuah, Adrian, Tse, Terence, and Esposito, Mark (2013) Financial agglomerations in the UK: geographical cluster size and firm performance. Journal of Competitiveness & Strategy, 3. pp. 16-35.

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Abstract

This paper reinforces the premise that cluster size has beneficial influence on performance by using data of 17,535 UK financial services companies.The research issue is whether having a closely related industry cluster is truly beneficial to member firms' profitability, as recent studies alleged that a large cluster creates congestion and has negative implications for performance.However, a myriad of performance measures were used and notably many still consider financial performance as key measures. By segregating a cluster into its competing and related sectors, I find they work in opposite directions on promoting firm growth prospects and financial performance. I argue related sectors in a cluster allow the firm to draw pecuniary benefits to better its financial performance, while the competing sector promotes its growth prospects.

Item ID: 28398
Item Type: Article (Refereed Research - C1)
ISSN: 2250-3587
Date Deposited: 15 Aug 2013 06:10
FoR Codes: 14 ECONOMICS > 1403 Econometrics > 140301 Cross-Sectional Analysis @ 20%
14 ECONOMICS > 1402 Applied Economics > 140209 Industry Economics and Industrial Organisation @ 40%
15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment > 150203 Financial Institutions (incl Banking) @ 40%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9104 Management and Productivity > 910499 Management and Productivity not elsewhere classified @ 100%
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