Implications of Basel II for Different Bank Ownership Patterns in Europe |
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Authors: | Santiago Carbó-Valverde |
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Institution: | (1) Departmento de Teoría e Historia Económica, Facultad de CCEE y Empresariales, Universidad de Granada, Campus de Cartuja s/n, 18071 Granada, Spain |
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Abstract: | This paper explains that Basel II has different implications for stakeholder-owned (mutual) and stockholder banks in the European
Union. Some strategic paths for stakeholder-owned banks are proposed as a response to the Stockholder Value Maximization goals
Basel II implicitly advances. Even though empirical evidence indicates that capital strength and risk-taking exposures do
not differ across bank ownership structures, SME lending and other characteristic specializations of stakeholder banks promise
to generate high capital charges. However, improved corporate-governance practices and cooperative securitization and risk-management
activities can reduce the compliance costs and risk-taking constraints mutual banks might experience from shifting to a Stakeholder
Value Maximization Model. For all EU banks irrespective of their ownership structure, the analysis stresses that establishing
an incentive-compatible cross-country safety-net scheme poses a critical challenge.
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Keywords: | Capital adequacy Bank ownership Regulation |
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