Organizational Form and Expense Preference: Spanish Experience

Iftekhar Hasan and Ana Lozano-Vivas ()

New York University, Leonard N. Stern School Finance Department Working Paper Seires from New York University, Leonard N. Stern School of Business-

Abstract: This article investigates the effect of alternative ownership structures, stock versus mutual, on the cost of production of Spanish depository institutions. The empirical approach adjusts for the possibility that the two sectors of the banking industry employ different production technologies and find evidence that is consistent with the expense preference behavior by the mutual savings banks.

Date: 1999
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Journal Article: Organizational Form and Expense Preference: Spanish Experience (2002)
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Persistent link: http://EconPapers.repec.org/RePEc:fth:nystfi:99-068

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