Appendix for “Effects of Bank Branch/ATM Consolidations on Cash Demand:

of ATM use prior 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more Note: The dependent variable is the logarithm of the explained variable after adding one except for the ATM withdrwals ratio and transaction dummy. [...] of ATM use prior 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 1.000 1 or more Age 60 or older 15 to 39 Gender Male Female Wealth Below 25% 25 to 50% 50 to 75% Above 75% Income Below 25% 25 to 50% 50 to 75% Above 75% Note: The dependent variable is the logarithm of the explained variable after adding one. [...] Distance represents the straight line distance from the branch of Mizuho Bank to be consolidated to the branch to be consolidating and by Mizuho Bank, while distance* represents the straight line distance from the branch of Mizuho Bank to be consolidated to the nearest competitor branch of the other two major banks. [...] of ATM use prior 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more Note: The dependent variable is the logarithm of the explained variable after adding one except for the ATM withdrwals ratio and transaction dummy. [...] of ATM use prior 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 2 or more 1.000 1 or more Age 60 or older 15 to 39 Gender Male Female Wealth Below 25% 25 to 50% 50 to 75% Above 75% Income Below 25% 25 to 50% 50 to 75% Above 75% Note: The dependent variable is the logarithm of the explained variable after adding one.