Shareholder dispersion and performance of Argentine banks

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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...

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Autores principales:	Dutto, Martín, Narvaez, Marcos, Carlevaro, Emiliano, Jullier, Juan
Formato:	Artículo revista
Lenguaje:	Español
Publicado:	Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2021
Materias:	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
Acceso en línea:	https://revistas.unc.edu.ar/index.php/REyE/article/view/36338
Aporte de:	Revistas de la UNC de Universidad Nacional de Córdoba

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spelling	I10-R10-article-363382022-05-08T23:50:40Z 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 https://revistas.unc.edu.ar/index.php/REyE/article/view/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 http://creativecommons.org/licenses/by-nc-nd/4.0
institution	Universidad Nacional de Córdoba
institution_str	I-10
repository_str	R-10
container_title_str	Revistas de la UNC
language	Español
format	Artículo revista
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
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
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
author	Dutto, Martín Narvaez, Marcos Carlevaro, Emiliano Jullier, Juan
author_facet	Dutto, Martín Narvaez, Marcos Carlevaro, Emiliano Jullier, Juan
author_sort	Dutto, Martín
title	Shareholder dispersion and performance of Argentine banks
title_short	Shareholder dispersion and performance of Argentine banks
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_sort	shareholder dispersion and performance of argentine banks
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
publisher	Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba.
publishDate	2021
url	https://revistas.unc.edu.ar/index.php/REyE/article/view/36338
work_keys_str_mv	AT duttomartin shareholderdispersionandperformanceofargentinebanks AT narvaezmarcos shareholderdispersionandperformanceofargentinebanks AT carlevaroemiliano shareholderdispersionandperformanceofargentinebanks AT jullierjuan shareholderdispersionandperformanceofargentinebanks AT duttomartin dispersionaccionariaydesempenodelosbancosargentinos AT narvaezmarcos dispersionaccionariaydesempenodelosbancosargentinos AT carlevaroemiliano dispersionaccionariaydesempenodelosbancosargentinos AT jullierjuan dispersionaccionariaydesempenodelosbancosargentinos
first_indexed	2022-08-20T00:58:15Z
last_indexed	2022-08-20T00:58:15Z
_version_	1770716791213916160

Shareholder dispersion and performance of Argentine banks

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