Organizational Form and Expense Preference: Spanish Experience
November 1999
Iftekhar Hasan and Ana Lozano
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.
Hasan: (212) 998-0329 ihasan@stern.nyu.edu
Lozano: 34 952131256 (O); 34 952 131299 (F) lozano@correo.vnet.es
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