Corporate Spatial Links With Financial Institutions: The Role of the Metropolitan Hierarchy

Abstract

This study focuses on the spatial linkages between major U.S. corporations and financial institutions. The results support the hypothesis that corporations reach up the metropolitan hierarchy for banking services, i.e., they are more strongly linked with higher-order centers than with lowerorder metropolitan areas. A second hypothesis, also confirmed, is that larger corporations are more strongly tied to the upper end of the metropolitan hierarchy than are smaller firms. Although some elements of banking are located in the same metropolitan area as the corporate headquarters that use their services, a significant component of banking services—especially investment and foreign banking—involves intermetropolitan linkages. These linkages are national rather than regional and do not follow the traditional distance-decay model.

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