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Efficiency and hybridization in cooperative banking: the French case

Author

Listed:
  • Jean-Noël Ory

    (CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine)

  • Yasmina Lemzeri

    (CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine)

Abstract

This paper analyzes how French cooperative banking groups adapted their organization, status and model to develop and grow, until the current financial crisis. It explores how they benefitted from evolutions in cooperative law that lowered financing constraints and increased the scope of their activities, becoming large banking groups, and identifies how these groups tried to develop a model of governance, characterized by internal control, which was partly dedicated to the members, but biased more and more towards the top of the organizational pyramid and to stockholders (the new stakeholders coming from the existence of listed vehicles). While the developing business model for cooperative banks appeared to confer a comparative advantage and was synonymous with efficiency before the financial crisis, it seems that the hybridization of the cooperative model has also been a source of conflict of interest, weakness in strategy and an incentive to increase risk. The third part

Suggested Citation

  • Jean-Noël Ory & Yasmina Lemzeri, 2012. "Efficiency and hybridization in cooperative banking: the French case," Post-Print hal-01380714, HAL.
    • Handle: RePEc:hal:journl:hal-01380714
    DOI: 10.1111/j.1467-8292.2012.00462.x
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    Citations

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    Cited by:

    1. Mikko MAKINEN & Derek C. JONES, 2015. "Comparative Efficiency Between Cooperative, Savings And Commercial Banks In Europe Using The Frontier Approach," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 86(3), pages 401-420, September.
    2. Simon Cornée, 2014. "Soft Information and Default Prediction in Cooperative and Social Banks," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 3(1), pages 89-103, June.
    3. Feiza El Hancha Sfar & Olfa Ben Ouda, 2016. "Contribution of Cooperative Banks to the Regional Economic Growth: Empirical Evidence from France," International Journal of Economics and Financial Issues, Econjournals, vol. 6(2), pages 508-514.
    4. MAREK HUDON & BENJAMIN HUYBRECHTS & Anaïs PÉRILLEUX & Marthe NYSSENS, 2017. "Understanding Cooperative Finance As A New Common," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 88(2), pages 155-177, June.
    5. Almudena Martínez-Campillo & Yolanda Fernández-Santos, 2017. "What About the Social Efficiency in Credit Cooperatives? Evidence from Spain (2008–2014)," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 131(2), pages 607-629, March.
    6. Jordan van Rijn & Shuwei Zeng & Brent Hueth, 2023. "Do credit unions have distinct objectives? Evidence from executive compensation structures," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 94(1), pages 5-38, March.
    7. Kwame Ohene Djan & Roy Mersland, 2022. "Are NGOs and cooperatives similar or different? A global survey using microfinance data," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(2), pages 641-683, June.
    8. Franck Bailly & Karine Chapelle & Lionel Prouteau, 2017. "What are the determinants of the pay gap between conventional firms and cooperatives? Evidence from France," Working Papers hal-01455741, HAL.
    9. Guglielmo Forges Davanzati & Rosario Patalano & Guido Traficante, 2019. "The Italian economic stagnation in a Kaldorian theoretical perspective," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 36(3), pages 841-861, October.
    10. Hans Groeneveld, 2020. "Reconciling different truths about isomorphic pressure and distinctive behavior at European cooperative banks: Back to the future with Raiffeisen's principles," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 91(3), pages 359-386, September.
    11. Theo Benos & Nikos Kalogeras & Martin Wetzels & Ko De Ruyter & Joost M. E. Pennings, 2018. "Harnessing a ‘Currency Matrix’ for Performance Measurement in Cooperatives: A Multi-Phased Study," Sustainability, MDPI, vol. 10(12), pages 1-38, December.
    12. Almudena Martínez-Campillo & Yolanda Fernández-Santos & María Pilar Sierra-Fernández, 2018. "How Well Have Social Economy Financial Institutions Performed During the Crisis Period? Exploring Financial and Social Efficiency in Spanish Credit Unions," Journal of Business Ethics, Springer, vol. 151(2), pages 319-336, August.

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