Isabel Fernández - Academia.edu (original) (raw)
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Papers by Isabel Fernández
This paper analyzes how banks' profitability varies depending on the type of bank ownership. We c... more This paper analyzes how banks' profitability varies depending on the type of bank ownership. We compare stock banks, mutual banks, state-owned banks and saving banks organized as foundations, using country-level panel data from eight OECD countries to correct for unobserved country heterogeneity. Our results indicate that mutual and state-owned banks have higher interest margins than commercial stock banks that are not explained by differences in risk. However, mutual and state-owned banks do not have higher net income than stock banks because they also have higher non-interest expenses. Furthermore, the results indicate that state-owned banks have the lowest risk-taking motivation, and that mutual banks use provisions for income smoothing.
This paper analyzes how banks' profitability varies depending on the type of bank ownership. We c... more This paper analyzes how banks' profitability varies depending on the type of bank ownership. We compare stock banks, mutual banks, state-owned banks and saving banks organized as foundations, using country-level panel data from eight OECD countries to correct for unobserved country heterogeneity. Our results indicate that mutual and state-owned banks have higher interest margins than commercial stock banks that are not explained by differences in risk. However, mutual and state-owned banks do not have higher net income than stock banks because they also have higher non-interest expenses. Furthermore, the results indicate that state-owned banks have the lowest risk-taking motivation, and that mutual banks use provisions for income smoothing.