Jeod Articles

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A Model for the Interest Margin of a Risk-neutral Bank. The Role of the Bank Orientation

This paper examines the impact of the bank orientation on classical banking business, distinguishing between shareholder and stakeholder banks, and analyzes the preconditions for positive social welfare effects from the existence of stakeholder banks. For this reason we develop a theoretical bank decision model based on the utility approach and… Read More

Investigating Management Turnover in Italian Cooperative Banks

Management turnover is a common tool for disciplining top managers both in corporations and in financial intermediaries. This paper examines the turnover of top managers in Italian banks. By applying a survival analysis to a dataset covering all Italian banks, the study tests the hypothesis that management turnover differs according… Read More

Loan Loss Provisioning and Relationship Banking in Italy: Practices and Empirical Evidence

A panel of Italian banks for the period 2006-2012 is used in this paper to examine LLP main determinants. Our analysis also focuses on the determinants of the sub-components of LLP, i.e. provisions associated to Bad Loans and Impaired Loans and Bad Loans and Impaired Loans Coverage Ratio. A specific… Read More

Soft Information and Default Prediction in Cooperative and Social Banks

In this paper, to begin with, we define soft information as qualitative, subjective information produced by banks through the establishment of long-term lending relationships. We then highlight the importance of soft information for cooperative and social banks in the screening, pricing and monitoring of their borrowers as a result of… Read More

Did the Extent of Hybridization Better Enable Cooperative Banking Groups to Face the Financial Crisis?

The 2008 financial crisis affected both cooperative and joint-stock banking groups. But since these groups had adopted different forms and modes of governance, cooperative banks might have suffered less. Cooperative banking groups are seen as more risk-averse than jointstock banking groups. One possible explanation is that they are owned by… Read More

Organizational Structure and Exposure to Crisis among European Banks: Evidence from Rating Changes

The Great Crisis that started in 2007 deeply affected banks throughout Europe. Using the assessments of the two global agencies that publish ratings of the financial strength of individual banks, we study whether the crisis hit European banks differently depending on their organizational structure. We analyze the changes in the… Read More

Features, Facts and Figures of European Cooperative Banking Groups over Recent Business Cycles

This paper complements the existing scarce literature on financial cooperatives in various ways. First, we describe the background and evolution of European Cooperative Banking Groups (ECBGs). Second, we summarize the main reasons for the past disregard and recent revaluation of the cooperative banking model. Third, we empirically investigate to what… Read More

Editorial: Cooperative Banks at a Turning Point?

Many changes occurred in the last years in the economic and social framework make this question quite actual. This special issue argues that the new reality created by the great financial crisis has fostered cooperative banks’ development —at least at local level—and allowed them to re-establish and even strengthen trust… Read More

The Role of Participatory Governance in the EMES Approach to Social Enterprise

This paper emphasizes the importance of participative governance in the EMES approach to social enterprise. The EMES approach is based on three dimensions, rather than a single one, as is common in most Anglo-American definitions of social enterprise. The latter often see social enterprise as a simple phenomenon that can… Read More

Invited Paper: Worker Cooperatives: Good, Sustainable Jobs in the Community

Worker cooperatives are the least well-known part of the cooperative movement. Part of the reason is that the idea of a business run by its employees sounds unrealistic to many people. Yet there are thousands of worker cooperatives and related businesses around the world, including some very large firms. In… Read More