Profits persistence and ownership: evidence from the Italian banking sector

被引：16

作者：

Agostino, M

Leonida, L

Trivieri, F

机构：

[1] Univ Calabria, Dipartimento Econ & Stat, I-87036 Cosenza, Italy

[2] Univ York, Dept Econ & Related Studies, York YO10 5DD, N Yorkshire, England

来源：

APPLIED ECONOMICS | 2005年 / 37卷 / 14期

关键词：

D O I：

10.1080/00036840500214223

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The hypothesis that ownership structure affects persistence of profits in the Italian banking industry is tested. The time-invariant components of ROA and ROE are regressed against ownership concentration and the fraction of shares held by the major shareholders. The results show that abnormal profits increase if ownership is concentrated in foundations and banks, and decrease if market forces are allowed to operate.

引用

页码：1615 / 1621

页数：7

共 23 条

[1] Why are bank profits so persistent? The roles of product market competition, informational opacity, and regional/macroeconomic shocks [J].