Being a member of a cooperative bank: ethical or financial decision?
The definition of co-operative banks given by the International Cooperative Banking Association (ICBA) states that co-operative members, who buy and hold member shares, believe in the ethical values of honesty, openness, social responsibility and altruism. Using a unique database of 246,120 clients/...
Shranjeno v:
| izdano v: | URI:https://journals.openedition.org/fcs, |
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| Auteurs principaux: | , |
| Format: | Article ou chapitre numérique |
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Finance Contrôle Stratégie
2017
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| Online dostop: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |
| Izvleček: | The definition of co-operative banks given by the International Cooperative Banking Association (ICBA) states that co-operative members, who buy and hold member shares, believe in the ethical values of honesty, openness, social responsibility and altruism. Using a unique database of 246,120 clients/members at a cooperative bank, we show that the trading volume of member shares is far from insignificant. The analysis of clients’ portfolios over a 13-month period shows that clients use member shares as standard savings and investment vehicles. These results show that the reasons given by the ICBA to become a member of a cooperative bank are unimportant in the decision process. |
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