Ownership structure and market conduct among Swiss banks

Author: Shaffer S.

Source: Applied Economics, Volume 34, Number 16, 10 November 2002 , pp. 1999-2009(11)

Publisher: Routledge, part of the Taylor & Francis Group

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Abstract:

This paper explores the degree of competition among each of several major categories of Swiss banks, using a structural econometric model. Conduct is found to vary across ownership structures, with foreign-owned banks exhibiting the most market power and state-owned or mutual banks the least. The results are consistent with agency theory but contrast with some previous empirical results. They are also consistent with a Swiss premium in the provision of international banking services, though this latter hypothesis is not formally tested.

Document Type: Research article

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