Shareholder dispersion and performance of Argentine banks
In this paper, we analyze the degree of ownership concentration as a determinant of performance in Argentine banks, measured through return on assets (ROA), return on equity (ROE), and Net Financial Income during the period from 2005 to 2017. Based on panel data analysis, we conclude that there is a...
| Main Authors: | , , , |
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| Format: | Online |
| Language: | spa |
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Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba.
2021
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| Subjects: | |
| Online Access: | https://revistas.unc.edu.ar/index.php/REyE/article/view/36338 |
| _version_ | 1842488252968206336 |
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| author | Dutto, Martín Narvaez, Marcos Carlevaro, Emiliano Jullier, Juan |
| author_facet | Dutto, Martín Narvaez, Marcos Carlevaro, Emiliano Jullier, Juan |
| author_sort | Dutto, Martín |
| collection | Portal de Revistas |
| description | In this paper, we analyze the degree of ownership concentration as a determinant of performance in Argentine banks, measured through return on assets (ROA), return on equity (ROE), and Net Financial Income during the period from 2005 to 2017. Based on panel data analysis, we conclude that there is a negative relationship between ownership concentration and performance. This association is positive for banks with few owners. We argue that controlling owners take excessive risk in banks with lower levels of ownership concentration which results in low returns. Adversely, a less risk taking behavior increases at higher levels of concentration.
Reception date: April 20, 2020Acceptance date: October 9, 2021 |
| format | Online |
| id | oai:ojs.revistas.unc.edu.ar:article-36338 |
| institution | Universidad Nacional de Cordoba |
| language | spa |
| publishDate | 2021 |
| publisher | Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. |
| record_format | ojs |
| spelling | oai:ojs.revistas.unc.edu.ar:article-363382025-09-03T18:14:37Z Shareholder dispersion and performance of Argentine banks Dispersión accionaria y desempeño de los bancos argentinos Dutto, Martín Narvaez, Marcos Carlevaro, Emiliano Jullier, Juan ownership structure agency theory banks performance Corporate Finance and Governance Banks estructura de propiedad teoría de la agencia bancos rendimiento Gobierno y financiación de la empresa Bancos In this paper, we analyze the degree of ownership concentration as a determinant of performance in Argentine banks, measured through return on assets (ROA), return on equity (ROE), and Net Financial Income during the period from 2005 to 2017. Based on panel data analysis, we conclude that there is a negative relationship between ownership concentration and performance. This association is positive for banks with few owners. We argue that controlling owners take excessive risk in banks with lower levels of ownership concentration which results in low returns. Adversely, a less risk taking behavior increases at higher levels of concentration. Reception date: April 20, 2020Acceptance date: October 9, 2021 El objetivo de este trabajo es explorar la asociación entre el grado de concentración propietaria y el desempeño de los bancos argentinos, medido a través del retorno real sobre los activos (ROA), rentabilidad sobre el patrimonio (ROE), e ingresos financieros netos durante el período 2005 a 2017. A partir de un análisis de regresión lineal con datos de panel, se describe una asociación negativa entre la concentración y el desempeño. Esta asociación es positiva para bancos con pocos propietarios. Argumentamos que, para bajos niveles de concentración, el propietario mayoritario toma excesivo riesgo resultando en menores retornos, mientras que la toma de riesgos se vuelve menor a mayor concentración propietaria. Fecha de recepción: 20 de Abril de 2020 Fecha de aceptación: 9 de Octubre de 2021 Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2021-12-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf text/html https://revistas.unc.edu.ar/index.php/REyE/article/view/36338 10.55444/2451.7321.2021.v59.n1.36338 Revista de Economía y Estadística; Vol. 59 No. 1 (2021); 125-150 Revista de Economía y Estadística; Vol. 59 Núm. 1 (2021); 125-150 2451-7321 0034-8066 10.55444/2451.7321.2021.v59.n1 spa https://revistas.unc.edu.ar/index.php/REyE/article/view/36338/36671 https://revistas.unc.edu.ar/index.php/REyE/article/view/36338/50365 http://creativecommons.org/licenses/by-nc-nd/4.0 |
| spellingShingle | ownership structure agency theory banks performance Corporate Finance and Governance Banks estructura de propiedad teoría de la agencia bancos rendimiento Gobierno y financiación de la empresa Bancos Dutto, Martín Narvaez, Marcos Carlevaro, Emiliano Jullier, Juan Shareholder dispersion and performance of Argentine banks |
| title | Shareholder dispersion and performance of Argentine banks |
| title_alt | Dispersión accionaria y desempeño de los bancos argentinos |
| title_full | Shareholder dispersion and performance of Argentine banks |
| title_fullStr | Shareholder dispersion and performance of Argentine banks |
| title_full_unstemmed | Shareholder dispersion and performance of Argentine banks |
| title_short | Shareholder dispersion and performance of Argentine banks |
| title_sort | shareholder dispersion and performance of argentine banks |
| topic | ownership structure agency theory banks performance Corporate Finance and Governance Banks estructura de propiedad teoría de la agencia bancos rendimiento Gobierno y financiación de la empresa Bancos |
| topic_facet | ownership structure agency theory banks performance Corporate Finance and Governance Banks estructura de propiedad teoría de la agencia bancos rendimiento Gobierno y financiación de la empresa Bancos |
| url | https://revistas.unc.edu.ar/index.php/REyE/article/view/36338 |
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