Ethics, banking and ownership

Panu Kalmi

Data publikacji : 2014-05-01

Tom 55 Nr 2 (2014)

Ethics, banking and ownership

Panu Kalmi

Abstrakt

The paper analyses the notion of banking ethics and presents a simple model of risk shifting that illuminates the conflict between depositors and shareholders and presents shareholder incentives to gamble “with other peoples’ money”. Customer ownership through cooperative or savings bank structure solves this problem, however, these structures have problems of their own. Finally, it stresses the benefits of organizational diversity in banking, on how banks in different ownership structures may foster that diversity, and also why ownership may not be a sufficient condition for diversity.

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Zasady cytowania

Kalmi, P. (2014). Ethics, banking and ownership. Bezpieczny Bank, 55(2), 27–37. Pobrano z https://ojs.bfg.pl/index.php/bb/article/view/373

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Utwór dostępny jest na licencji Creative Commons Uznanie autorstwa – Użycie niekomercyjne – Na tych samych warunkach 4.0 Międzynarodowe.

Bibliografia

Bülbül, D., Schmidt, R.H. and Schüwer, U., (2013): “Caisses d’epargne et banques cooperatives en Europe”. Revue d’Economie Financiere, 111: 159–187.

Cornée, S. and Szafarz, A. (2014): “Vive la Différence: Social Banks and Reciprocity in the Credit Market”. Journal of Business Ethics, forthcoming.

Cuevas, C.E. and Fischer, K.P. (2006): “Cooperative financial institutions – issues in governance, regulation, and supervision”. World Bank Working Paper No. 82.

De Serres, A., Jaeger, M. and Ory, J.-N. (2011): “Have Co-operative Banks Lost Their Soul? The Me-Too Effect of Regulation”. Working paper, University of Lorraine.

EACB (2012): Consultation to the Consultation by the High Level Expert Group on Reforming the Structure of the European Banking Sector. Brussels: European Association of Co-operative Banks.

Estrin, S. and Jones, D.C. (1992): “The Viability of Employee-owned Firms: Evidence from France”. Industrial and Labor Relations Review 45(2): 323–338.

Ferri, G. and Kalmi, P. (2014): Only Up: Regulatory Burden and Its Effects on Credit Unions. Filene Institute Research Report, forthcoming.

Ferri, G., Kalmi, P. and Kerola, E. (2014a): “Organizational Structure and Performance in European Banks: A Post-Crisis Reassessment”. Working paper, LUMSA University, University of Vaasa and Aalto University.

Ferri, G., Kalmi, P. and Kerola, E. (2014b): “Organizational Structure and Exposure to Crisis in European Banks: Evidence From Rating Changes”. Journal of Entrepreneurial and Organizational Diversity, forthcoming.

Ferri, G., Kalmi, P. and Kerola, E. (2014c): “Does Bank Ownership Affect Lending Behavior? Evidence from the Euro Area”. Journal of Banking and Finance (forthcoming).

Haldane, A. (2010): The $100 Billion Question. Bank of England.

Hansmann, H. (1996): The Ownership of Enterprise. Cambridge MA: Belknap Press.

Hesse, H. and Ĉihák, M. (2007): “Cooperative Banks and Financial Stability”. IMF Working Paper WP/07/2.

Jones, D.C. (1976): “British Economic Thought on Associations of Labourers, 1848–1974”. Annals of Public and Cooperative Economics, 47: 5–36.

Liikanen Committee (2012): High Level Expert Group on Reforming the Structure of the European Banking Sector. Brussels.

Michie, J. and Oughton, C. (2013): “Measuring Diversity in Financial Services Markets: A Diversity Index”. SOAS, University of London: Centre for Financial and Management Studies Discussion Paper No. 113.