DISTANCE, BANK HETEROGENEITY AND ENTRY IN LOCAL BANKING MARKETS*
研究了1991-2002年意大利地方银行市场进入的决定因素，发现银行更倾向进入邻近市场，大银行更能应对距离成本，且技术进步使银行能进入更远市场。
We examine the determinants of entry into Italian local banking markets during the period 1991–2002 and build a simple model in which the probability of branching in a new market depends on the features of both the local market and the potential entrant. Econometric findings show that banks are more likely to expand into those markets that are closest to their pre‐entry locations. Large banks are also more able to cope with distance‐related entry costs than small banks. Finally, banks have become increasingly able to open branches in distant markets, due to the advent of information and communication technologies.