Arbeitspapier

U.S. Savings Banks' Demutualization and Depositor Welfare

Originally, U.S. savings banks were owned by their depositors. In recent decades, many savings banks have "demutualized", by converting from customer to investor ownership. We examine the implications of such events for depositor welfare. We introduce a random coefficients logit model of bank account choice and estimate depositors' tastes for bank characteristics (including banks' ownership type). We then measure the effect on depositor welfare of a simulated demutualization of all customer-owned savings banks. We find that depositors' welfare would increase on average. In particular, if demutualize savings banks offered a deposit rate in line with existing demutualized banks, each depositor would gain $1.14 annually, for a total of $22 million for each state and year.

Sprache
Englisch

Erschienen in
Series: Economics Working Paper Series ; No. 2017/08

Klassifikation
Wirtschaft
Consumer Economics: Empirical Analysis
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Business Objectives of the Firm
Cooperative Enterprises
Thema
Banks
Deposits
Demand Estimation
Customer Ownership
Mutuals

Ereignis
Geistige Schöpfung
(wer)
Girotti, Mattia
Meade, Richard
Ereignis
Veröffentlichung
(wer)
Auckland University of Technology (AUT), Faculty of Business, Economics and Law
(wo)
Auckland
(wann)
2017

Handle
Letzte Aktualisierung
10.03.2025, 11:43 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Girotti, Mattia
  • Meade, Richard
  • Auckland University of Technology (AUT), Faculty of Business, Economics and Law

Entstanden

  • 2017

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