Investigating Management Turnover in Italian Cooperative Banks

Mitja Stefancic ()
Additional contact information
Mitja Stefancic: Faculty of Economics, University of Ljubljana, Slovenia

Journal of Entrepreneurial and Organizational Diversity, 2014, vol. 3, issue 1, 131-163

Abstract: Management turnover is a common tool for disciplining top managers both in corporations and in financial intermediaries. This paper examines the turnover of top managers in Italian banks. By applying a survival analysis to a dataset covering all Italian banks, the study tests the hypothesis that management turnover differs according to different types of banks; and, specifically, it attempts to assess whether top managers in non-commercial banks are more likely to stay on in their managerial position longer than those in commercial banks. Results confirm that the juridical form of banks is significantly related to management turnover as top managers in cooperative banks show a higher survival probability. Similarly, banks’ history and institutional legacy have a significant influence on both management turnover and on the disciplinary mechanisms for top managers. Managers in cooperative banks tend to survive longer even when bank performance, measured as return on assets, is below average.

Keywords: Italian cooperative banks; Juridical form of banks; Turnover of top managers; Corporate governance; Institutional settings (search for similar items in EconPapers)
JEL-codes: D21 G21 G28 G34 J63 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://jeodonline.com/jeod_articles/investigating ... n-cooperative-banks/ (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:trn:csnjrn:v:3:i:1:p:131-163

Access Statistics for this article

More articles in Journal of Entrepreneurial and Organizational Diversity from European Research Institute on Cooperative and Social Enterprises Contact information at EDIRC.
Bibliographic data for series maintained by Barbara Franchini ().