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Liberalization, Corporate Governance, and Savings Banks

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Author Info
Manuel Illueca () (Universitat Jaume I (Spain), Department of Finance and Accounting)
Lars Norden () (University of Mannheim (Germany), Department of Banking anf Finance)
Gregory F. Udell () (Kelly School of Business, Indiana University)

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Abstract

We study the effects of the interplay between banking deregulation and corporate governance on the lending behavior of savings banks in Spain. The removal of branching barriers that constrained these banks has led to a nationwide expansion, increasing the number of their branches and their commercial lending volume dramatically. Analyzing a unique data set combining information on the geographic distribution of bank branches and matched lenderborrower financial statements during 1996-2004, we provide evidence that suggests that the governance of those banks affects the way in which they expand their lending activities. In particular, political influence affects where they expand and their ex ante risk taking behavior. Because most countries have a portion of their banking system that is not privately owned, the behavior of these Spanish savings banks may have broader implications about the impact of global banking deregulation and industry consolidation and their interaction with bank governance.

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File URL: http://dea2.univpm.it/quaderni/pdfmofir/Mofir017.pdf
File Format: application/pdf
File Function: First version, 2009
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Publisher Info
Paper provided by Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economics in its series Mo.Fi.R. Working Papers with number 17.

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Length: 51
Date of creation: Feb 2009
Date of revision:
Handle: RePEc:anc:wmofir:17

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Web page: http://www.mofir.univpm.it/

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Related research
Keywords: Banck branching; Bank lending; Deregulation; Distance; Geographic expansion;

Find related papers by JEL classification:
G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
G30 - Financial Economics - - Corporate Finance and Governance - - - General
H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
L30 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - General

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This page was last updated on 2009-11-12.

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