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http://ssrn.com/abstract=1495856
 
 

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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 Citation

LopezPuertas-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

Contact Information

Mónica LopezPuertas-Lamy (Contact Author)
Universidad Carlos III de Madrid - Department of Business Administration ( email )
Calle Madrid 126
Getafe, Madrid, Madrid 28903
Spain
Oscar Gutierrez
Autonomous University of Barcelona - Faculty of Economics and Business Studies ( email )
Campus Bellaterra
Barcelona, 08193
Spain
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