Organizational Form and Expense Preference: Spanish Experience

Iftekhar Hasan and Ana Lozano-Vivas

Bulletin of Economic Research, 2002, vol. 54, issue 2, 135-50

Abstract: This article investigates the effect of alternative ownership structures, stock versus mutual, on the cost of production of Spanish depository institutions. By introducing a stochastic frontier analysis in estimating the best-practiced expense-preference behaviour, the empirical approach adjusts for the possibility that the two sectors of the banking industry employ different production technologies and finds evidence that is consistent with expense-preference behaviour by the mutual savings banks. Copyright 2002 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research

Date: 2002
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Working Paper: Organizational Form and Expense Preference: Spanish Experience (1999)
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