Breaking down Oslo; a new approach to determine microclustering

Abstract

This paper examines the clustering and micro-clustering tendencies related to the financial institutions involved in IPO’s on the Oslo Stock exchange and Oslo Axcess. In our paper we developed a data-set by collecting information about 184 IPO’s between 2002-2017. We developed a new method of defining and determining micro-cluster by using the Haversine distance formula. Our findings and method highlights local influence and competition, in addition to the presences of two Micro-clusters within the municipality of Oslo, with a supportmicro cluster surrounding the two MC´s. The MC’s are discussed in light of network-theory, with Porter’s conditions of a cluster set as a basis.