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Cooperative Banks in Europe--Policy Issues

Cooperative Banks in Europe--Policy Issues by Wim Fonteyne
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This paper explains the continuing success of European cooperative banks through evolving comparative advantages. It points out that a cooperative is built around an intergenerational endowment without final owners, which creates particular governance challenges. Risks include the use of the endowment for purposes other than members' best interest, such as empire-building, and attempts at appropriation. The risk of empire-building is reinforced by mechanisms that foster capital accumulation and asymmetric opportunities for consolidation. The paper concludes that some form of independent external oversight of corporate governance is warranted and that cooperatives need mechanisms enabling them to better manage their capital.
International Monetary Fund; July 2007
68 pages; ISBN 9781452742045
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Title: Cooperative Banks in Europe--Policy Issues
Author: Wim Fonteyne
 
ISBNs
1451911769
9781451867237
9781451911763
9781452742045