LEADER 05189oam 22010694 450 001 9910788518303321 005 20230721050911.0 010 $a1-4623-9519-8 010 $a1-4527-3499-2 010 $a1-282-55817-X 010 $a1-4519-1019-3 010 $a9786613822314 035 $a(CKB)3360000000443266 035 $a(EBL)1608452 035 $a(SSID)ssj0000946205 035 $a(PQKBManifestationID)11573199 035 $a(PQKBTitleCode)TC0000946205 035 $a(PQKBWorkID)10893091 035 $a(PQKB)11026104 035 $a(OCoLC)535146888 035 $a(MiAaPQ)EBC1608452 035 $a(IMF)WPIEE2007002 035 $a(EXLCZ)993360000000443266 100 $a20020129d2007 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCooperative Banks and Financial Stability /$fMartin Cihak, Heiko Hesse 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2007. 215 $a1 online resource (50 p.) 225 1 $aIMF Working Papers 300 $a"January 2007." 300 $aAt head of title: Monetary and Capital Markets Department. 311 $a1-4518-6566-X 320 $aIncludes bibliographical references (p. 35-36). 327 $aCover Page; Title Page; Copyright Page; Contents; I. Motivation and Literature Overview; 1. Cooperative Banks: Retail Market Shares in Selected Countries; II. Data and Methodology; A. Data; B. Measuring Bank Stability; C. Methodology; 1. Summary Statistics of Bank-Specific Variables in the Sample, 1994-2004; III. Results; A. Decomposition of Z-Scores and Correlation Analysis; 2. Decomposition of Z-Scores for the Full Sample, 1994-2004; 3. Decomposition of Z-Scores for Selected Countries, 1994-2004; 4. Sensitivity of the Z-score Decomposition 327 $a5. Fitch: Long-Term Ratings: Distribution of the Banks in Sample6. Correlation Coefficients between the Z-Score and Selected Key Variables, 1994-2004; B. Regression Analysis; 7. Regression Results (Full Sample); 8. OECD Regressions with Governance Variable; 9. Regression Results (Large Banks); 10. Regression Results (Small Banks); 11. Robust Regressions; 12. Quantile Regressions (Full Sample); IV. Conclusions and Topics for Further Research; I. Data Issues; References; Footnotes 330 3 $aCooperative banks are an important, and growing, part of many financial systems. This paper empirically analyzes the role of cooperative banks in financial stability. Contrary to some suggestions in the literature, we find that cooperative banks are more stable than commercial banks. This finding is due to the lower volatility of the cooperative banks' returns, which more than offsets their lower profitability and capitalization. This is most likely due to cooperative banks' ability to use customer surplus as a cushion in weaker periods. We also find that in systems with a high presence of cooperative banks, weak commercial banks are less stable than they would be otherwise. The overall impact of a higher cooperative presence on bank stability is positive on average but insignificant in some specifications. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2007/002 606 $aBanks and banking, Cooperative 606 $aEconomic stabilization 606 $aBanks and Banking$2imf 606 $aMacroeconomics$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aPersonal Income, Wealth, and Their Distributions$2imf 606 $aInterest Rates: Determination, Term Structure, and Effects$2imf 606 $aBanking$2imf 606 $aFinance$2imf 606 $aCooperative banks$2imf 606 $aCommercial banks$2imf 606 $aPersonal income$2imf 606 $aLong term interest rates$2imf 606 $aBanks and banking, Cooperative$2imf 606 $aBanks and banking$2imf 606 $aIncome$2imf 606 $aInterest rates$2imf 607 $aGermany$2imf 615 0$aBanks and banking, Cooperative. 615 0$aEconomic stabilization. 615 7$aBanks and Banking 615 7$aMacroeconomics 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aPersonal Income, Wealth, and Their Distributions 615 7$aInterest Rates: Determination, Term Structure, and Effects 615 7$aBanking 615 7$aFinance 615 7$aCooperative banks 615 7$aCommercial banks 615 7$aPersonal income 615 7$aLong term interest rates 615 7$aBanks and banking, Cooperative 615 7$aBanks and banking 615 7$aIncome 615 7$aInterest rates 676 $a334.22 676 $a334.220681 700 $aCihak$b Martin$01106217 701 $aHesse$b Heiko$01472688 712 02$aInternational Monetary Fund.$bMonetary and Capital Markets Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788518303321 996 $aCooperative Banks and Financial Stability$93844933 997 $aUNINA