Cooperative banks: What do we know about competition and risk preferences?
研究了2006-2014年间欧洲合作银行竞争与金融稳定的关系，发现市场力量与稳定性呈倒U型关系，且资产负债多元化显著提升偿付能力。
In the wake of the Global Financial Crisis the discussion on preventive regulatory policies has generally overlooked the role of different business models and goals. Credit institutions with mutual objectives are a case in point that is the object of this study, which focuses on the relationship between competition and financial stability in European cooperative banking between 2006 and 2014. Our results show that there exists a hump-shaped relationship between market power and stability, particularly in the loan market. Interestingly, we also find that, diversification in assets and liabilities significantly increases cooperative banks’ solvency.