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Title: Determinants of clustering, cluster growth and performance
Author: Kuah, Adrian T. H.
Awarding Body: University of Manchester
Current Institution: University of Manchester
Date of Award: 2007
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Previous studies on industry clusters argue that there are benefits and externalities that only incumbents enjoy. Many studies focus on manufacturing and hightechnology clusters with less importance placed on services clusters. There are even fewer studies considering financial agglomerations as clusters that could create national competitive advantage. This thesis investigates the detenninants of clustering by focusing on the UK and Singapore financial sectors. It adopts an approach that concentrates on pure agglomerations - the importance of clientele, suppliers, factor conditions, rivalry, and how the agglomerations of competing and related industries influence incumbents' growth and perfonnance. The thesis combines two cluster models (Porter, 1990 and Swann et al., 1998) that contribute to an understanding of how, what and why certain detenninants lead to better perfonnance of finns in a cluster. It contributes to the existing literature by demonstrating that Porter's generic model is applicable to an international financial cluster and to another cluster in a smaller and open economy through the case studies of the London and Singapore financial centres. It advances knowledge on cluster theories by affinning Swann's lifetime growth model in the UK and Singapore financial clusters through econometric analysis, and extending the model to consider the causal and significant effects of cluster strengths in influencing finn perfonnance and the growth lifecycle of some 17,000 finns in the UK and Singapore. The thesis highlights the importance of factor and demand conditions in a cluster, and at the same time, the role that competitors and related industries play in enhancing the competitive advantage of the location. It illuminates the need for strong agglomerations of competing industry and related industries in a regional cluster to enhance incumbent's growth and actual financial perfonnance. Concertedly through the two cluster models, this thesis provides evidences of improved finn growth and actual financial perfonnance the more financial services finns cluster together, and how certain clustering conditions aid incumbents attain their competitive advantage.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available