Do Managers of Mutual Institutions Choose Efficiency-Improving Mergers? The Recent Experience of Japanese Credit Associations
The IUP Journal of Bank Management, Vol. 9, Nos. 1 & 2, pp. 7-11, February & May 2010
Posted: 17 May 2010
Date Written: May 14, 2010
Because of the unique corporate governance feature of mutual institutions, managers are expected to maximize their own interests at the expense of other stakeholders’ interests. However, this study finds that managers of Japanese mutual banks do not behave as suggested.
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