Geography matters: The impact of geographic expansion on bank performance during the Great Recession
研究发现在经济衰退期间，银行的地理扩张会因信息不对称而损害绩效，单个银行扩张有微弱正面效应，但整体扩张通过溢出效应产生负面影响。
Geographic expansion negatively impacts bank outcomes during recessions. While increases in average bank-to-branch distance for a given bank have a small positive impact on bank performance, increases in average bank-to-branch distance across all banks negatively impact performance as a result of aggregate spillovers. These findings support the existence of economically substantive geographic information asymmetries in banking, emphasizing the need for an explicit consideration of the spatial implications of banking (de-)regulation.