IDEAS home Printed from https://ideas.repec.org/a/prs/recofi/ecofi_0987-3368_2002_num_67_3_3578.html
   My bibliography  Save this article

Le statut de coopérative est-il source d’efficacité dans le secteur bancaire ?

Author

Listed:
  • Emmanuelle Gurtner
  • Mireille Jaeger
  • Jean-Noël Ory

Abstract

[eng] Is the cooperative ownership structure a factor of efficiency in banking firms ? . Some economists, especially American, consider that cooperative banks operate inefficiently, and that they will disappear. Using the same analysis than these authors, we try, in this paper, to explain the good performances of cooperative banks in France, comparing to stock banks. The relevant criterion which allows to set apart cooperative banks from stock banks is the ownership structure, and not the existence of a common bond. We then develop the consequences of the cooperative ownership structure of financial institutions. Cooperative banks appear to be able to compete efficiently with stock banks, even if the aim of the organisation is not the maximisation of the profitability for the capital owners. . JEL classifications : G21, L2 [fre] La littérature retient deux critères de différenciation entre le statut bancaire de coopérative ou de SA : la notion d’intérêt commun et la structure de propriété. Le premier semble mal adapté aux coopératives françaises, car leur taille et leur champ d’activité n’ont pas été contraints par l’existence d’un intérêt commun aux sociétaires, et parce qu’elles se situent sur un marché très concurrentiel et peu segmenté. Le deuxième semble prééminent. Dans une coopérative bancaire, la structure des droits de propriété va déterminer un profil d’organisation qui influencera l’efficacité. Les banques coopératives sont donc capables de soutenir la concurrence avec les banques SA, tout en ayant d’autres objectifs que la maximisation du profit. La concurrence les oblige à fonctionner efficacement sur le long terme, sans être contraintes à court terme par la nécessité de créer de la valeur. . Classification JEL : G21, L2

Suggested Citation

  • Emmanuelle Gurtner & Mireille Jaeger & Jean-Noël Ory, 2002. "Le statut de coopérative est-il source d’efficacité dans le secteur bancaire ?," Revue d'Économie Financière, Programme National Persée, vol. 67(3), pages 133-163.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2002_num_67_3_3578
    DOI: 10.3406/ecofi.2002.3578
    Note: DOI:10.3406/ecofi.2002.3578
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecofi.2002.3578
    Download Restriction: no
    File URL: https://www.persee.fr/doc/ecofi_0987-3368_2002_num_67_3_3578
    Download Restriction: no
    File URL: https://libkey.io/10.3406/ecofi.2002.3578?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Mester, Loretta J., 1991. "Agency costs among savings and loans," Journal of Financial Intermediation, Elsevier, vol. 1(3), pages 257-278, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. E. Avisoa, 2016. "European banks’ technical efficiency and performance: do business models matter? The case of European co-operatives banks," Débats économiques et financiers 25, Banque de France.
    2. Amélie Artis & Maryline Filippi & Francesca Petrella, 2023. "La convention d’identité coopérative : création de compromis sectoriels et territoriaux," Post-Print hal-04435785, HAL.
    3. Alexandre Pourchet & Andrée de Serres & Bernard de Montmorillon, 2014. "Une analyse néo-institutionnelle de l'évolution de la gouvernance et des activités métiers du Groupe Bancaire Coopératif en France," Post-Print hal-01457041, HAL.
    4. repec:dau:papers:123456789/13773 is not listed on IDEAS
    5. Yasmina Lemzeri, 2014. "Did the Extent of Hybridization Better Enable Cooperative Banking Groups to Face the Financial Crisis?," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 3(1), pages 57-85, June.
    6. Pascal Glémain, 2018. "Finances et financement des activités d'utilité sociale locales : point de vue à partir des finances citoyennes «situées»," Post-Print hal-02150257, HAL.
    7. Barry, Thierno Amadou & Tacneng, Ruth, 2014. "The Impact of Governance and Institutional Quality on MFI Outreach and Financial Performance in Sub-Saharan Africa," World Development, Elsevier, vol. 58(C), pages 1-20.
    8. Butzbach Olivier & von Mettenheim Kurt E., 2015. "Alternative Banking and Theory," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 5(2), pages 105-171, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hasan, Iftekhar & Lozano-Vivas, Ana, 2002. "Organizational Form and Expense Preference: Spanish Experience," Bulletin of Economic Research, Wiley Blackwell, vol. 54(2), pages 135-150, April.
    2. J. David Cummins & Mary A. Weiss & Hongmin Zi, 1998. "Organizational Form and Efficiency: An Analysis of Stock and Mutual Property-Liability Insurers," Center for Financial Institutions Working Papers 97-02, Wharton School Center for Financial Institutions, University of Pennsylvania.
    3. A. Cole, Rebel & Mehran, Hamid, 1998. "The effect of changes in ownership structure on performance: Evidence from the thrift industry," Journal of Financial Economics, Elsevier, vol. 50(3), pages 291-317, December.
    4. J. Cummins & Hongmin Zi, 1998. "Comparison of Frontier Efficiency Methods: An Application to the U.S. Life Insurance Industry," Journal of Productivity Analysis, Springer, vol. 10(2), pages 131-152, October.
    5. Joseph P. Hughes & Loretta J. Mester, "undated". "Evidence on the Objectives of Bank Managers," Rodney L. White Center for Financial Research Working Papers 4-94, Wharton School Rodney L. White Center for Financial Research.
    6. Joseph P. Hughes & Loretta J. Mester, 2008. "Efficiency in banking: theory, practice, and evidence," Working Papers 08-1, Federal Reserve Bank of Philadelphia.
    7. Esho, Neil & Sharpe, Ian G., 1995. "Long-run estimates of technological change and scale economies in a dynamic framework: Australian permanent building societies, 1974-1990," Journal of Banking & Finance, Elsevier, vol. 19(7), pages 1135-1157, October.
    8. Simona Galletta & Sebastiano Mazzù & Valeria Naciti, 2021. "Banks' business strategy and environmental effectiveness: The monitoring role of the board of directors and the managerial incentives," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2656-2670, July.
    9. Borochin, Paul & Knopf, John D., 2021. "Do managers seek control and entrenchment?," Journal of Corporate Finance, Elsevier, vol. 67(C).
    10. Hughes, Joseph P. & Mester, Loretta J. & Moon, Choon-Geol, 2001. "Are scale economies in banking elusive or illusive?: Evidence obtained by incorporating capital structure and risk-taking into models of bank production," Journal of Banking & Finance, Elsevier, vol. 25(12), pages 2169-2208, December.
    11. Baharin, Roziana & isa, zaidi, 2018. "Box Cox- Fourier Flexible Functional Forms in Stochastic Metafrontier Analysis: The Cost Efficiency of the Insurance Industry in Malaysia," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(1), pages 135-144.
    12. Ana María Olaya Pardo & Manuel Ramírez Gómez, 2004. "Aversión al riesgo y eficiencia de escala en los bancos: Incluyendo variables de riesgo y regulación," Borradores de Investigación 4346, Universidad del Rosario.
    13. Martin Desrochers & Klaus P. Fischer, 2005. "The Power of Networks: Integration and Financial Cooperative Performance," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 76(3), pages 307-354, September.
    14. Manuel Illueca & Lars Norden & Gregory F. Udell, 2014. "Liberalization and Risk-Taking: Evidence from Government-Controlled Banks," Review of Finance, European Finance Association, vol. 18(4), pages 1217-1257.
    15. Grifell-Tatjé, E., 2011. "Profit, productivity and distribution: Differences across organizational forms - The case of Spanish banks," Socio-Economic Planning Sciences, Elsevier, vol. 45(2), pages 72-83, June.
    16. Paul Leonard & Rita Biswas, 1998. "The Impact of Regulatory Changes on the Risk-Taking Behavior of State Chartered Savings Banks," Journal of Financial Services Research, Springer;Western Finance Association, vol. 13(1), pages 37-69, February.
    17. Nobuyoshi Yamori & Kozo Harimaya & Kei Tomimura, 2017. "Corporate governance structure and efficiencies of cooperative banks," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 22(4), pages 368-378, October.
    18. Loretta J. Mester, "undated". "Efficiency of Banks in the Third Federal Reserve District," Rodney L. White Center for Financial Research Working Papers 02-94, Wharton School Rodney L. White Center for Financial Research.
    19. Mr. Wim Fonteyne, 2007. "Cooperative Banks in Europe—Policy Issues," IMF Working Papers 2007/159, International Monetary Fund.
    20. Nada Kobeissi, 2004. "Ownership Structure and Bank Performance: Evidence from the Middle East and North Africa," Working Papers 0413, Economic Research Forum, revised 06 Mar 2004.

    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:recofi:ecofi_0987-3368_2002_num_67_3_3578. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecofi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.