Digital disruption and market structure: the case of internet banking

IF 2.8 4区管理学 Q2 BUSINESS Industrial and Corporate Change Pub Date : 2024-03-21 DOI:10.1093/icc/dtae013

Bruce Lyons, Minyan Zhu

引用次数: 0

Abstract

We provide an econometric study of the adoption of internet banking, a case of a potentially disruptive digital technology which could devalue/replace an incumbent legacy. Our aim is to better understand the extent to which it disrupted the market structure where incumbents start with a strong customer base. We study both regional integration and national concentration dimensions of market structure in EU member states during the period of 1997–2018. We find that internet banking was initially introduced earlier in more concentrated markets. Although consumer uptake was slower over time than in less concentrated markets, the initial higher consumer penetration in more concentrated markets was sustained until market maturity. We further find a substantial de-concentrating effect of internet banking, and evidence of integration in previously regionalized markets following uptake.

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数字颠覆与市场结构：互联网金融案例

我们对互联网银行的采用情况进行了计量经济学研究，这是一种具有潜在破坏性的数字技术，可以贬低/取代现有的传统技术。我们的目的是要更好地了解互联网金融在多大程度上扰乱了市场结构，因为在市场结构中，现有企业一开始就拥有强大的客户基础。我们研究了 1997-2018 年间欧盟成员国市场结构的区域一体化和国家集中度两个维度。我们发现，在集中度较高的市场中，互联网银行的引入时间较早。虽然随着时间的推移，消费者的吸收速度慢于集中度较低的市场，但在集中度较高的市场，最初较高的消费者渗透率一直持续到市场成熟。我们进一步发现，互联网银行业务具有显著的去集中化效应，而且有证据表明，在吸收互联网银行业务后，以前的区域化市场出现了整合。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Industrial and Corporate Change Multiple-

CiteScore

5.10

自引率

4.00%

发文量

期刊介绍： The journal covers the following: the internal structures of firms; the history of technologies; the evolution of industries; the nature of competition; the decision rules and strategies; the relationship between firms" characteristics and the institutional environment; the sociology of management and of the workforce; the performance of industries over time; the labour process and the organization of production; the relationship between, and boundaries of, organizations and markets; the nature of the learning process underlying technological and organizational change.