Ownership Structure and Building Society Efficiency

Tiffany Hutcheson () and Ian Sharpe
Additional contact information
Ian Sharpe: School of Banking and Finance, University of New South Wales

No 78, Working Paper Series from Finance Discipline Group, UTS Business School, University of Technology, Sydney

Abstract: This paper investigates the effect of ownership structure on the cost efficiency of Australian building societies using the stochastic econometric frontier approach. Contrary to the expense preference hypothesis, mutually owned societies we found to be, on average, more cost efficient than those under stock ownership. Moreover, mutual and stoc-owned societies have significantly different cost functions or production technologies. The results are consistent with U.S. results of Mester (1993).

Keywords: cost efficiency; ownership diffusion (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Pages: 30 pages
Date: 1997-10-01
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published as: Hutcheson, T. and Sharpe, I., 1998, "Ownership Structure and Building Society Efficiency", Australian Journal of Management, 23(2), 151-168.

Downloads: (external link)
http://www.finance.uts.edu.au/research/wpapers/wp78.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.finance.uts.edu.au:80 (A connection attempt failed because the connected party did not properly respond after a period of time, or established connection failed because connected host has failed to respond.)

Related works:
Journal Article: Ownership Structure and Building Society Efficiency (1998)
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:uts:wpaper:78

Access Statistics for this paper

More papers in Working Paper Series from Finance Discipline Group, UTS Business School, University of Technology, Sydney PO Box 123, Broadway, NSW 2007, Australia. Contact information at EDIRC.
Bibliographic data for series maintained by Duncan Ford ().