Profit versus Non Profit: A Third Way? The Case of the Italian Mutual Cooperative Banks

Ivana Catturani (ivana.catturani@unitnr.it) and Sandro Trento (sandro.trento@economia.unitn.it)
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Ivana Catturani: University of Trento

Rivista di Politica Economica, 2011, issue 3, 83-112

Abstract: The distinction between profit and non profit firms does not necessarily apply to some cooperative firms, such as the Italian mutual cooperative banks (MCBs). MCBs present a peculiar governance structure, a combination between a public company governance model and a non-profit one. The board of directors acts as a public-good administrator when it allocates the profits not only on the members’ community, but also on the local community. However, the governance of these banks may be affected by structural problems. This study aims at describing the governance structure of MCBs and its appropriateness given enlargement of the community of members.

Keywords: cooperative firm; mutualism; cooperative banks; corporate governance; Italian banking sector (search for similar items in EconPapers)
JEL-codes: G21 G34 J54 L31 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:y:2011:i:3:p:83-112

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