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File name: SSRN-id2119234. ; Size: 321K
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The Effect of Ownership Structure on Financial Stability: An Empirical Investigation
Mónica LopezPuertas-Lamy
Universidad Carlos III de Madrid - Department of Business Administration
Oscar Gutierrez
Autonomous University of Barcelona - Faculty of Economics and Business Studies
October 28, 2009
Abstract:
This paper analyzes the stability of financial systems with different bank’s ownership structures. We distinguish between profit oriented banks (commercial banks) and non-profit maximizing bank such as savings banks and cooperative banks (stakeholder banks). Using a country-level panel dataset over the period 1993-2007, and two different measures of financial stability at the systemic level (the country portfolio Z-score and a crisis dummy variable), we find consistent evidence that the presence of stakeholder banks in the financial sector increases systemic financial stability.
Number of Pages in PDF File: 32
Keywords: Ownership structure, Risk-taking, Financial stability, Stakeholders, Concentration
JEL Classification: G21, G32, G18, G38.
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Date posted: October 29, 2009
; Last revised: August 24, 2012
Suggested CitationLopezPuertas-Lamy, Mónica and Gutierrez, Oscar, The Effect of Ownership Structure on Financial Stability: An Empirical Investigation (October 28, 2009). Available at SSRN: http://ssrn.com/abstract=1495856 or http://dx.doi.org/10.2139/ssrn.1495856
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