Consumer Biases and Firm Ownership

Bubb, Ryan; Kaufman, Alex

doi:10.2139/ssrn.1945852

Cited by 5 publications

(1 citation statement)

References 27 publications

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“…Bubb and Kaufman (2009) demonstrate how ownership of a firm by its customers, as well as nonprofit status, can prevent a firm from exploiting consumer biases. By eliminating an outside residual claimant with control over the firm, these alternatives to investor ownership reduce the incentive of the firm to offer contractual terms that exploit the mistakes consumers make.…”

Section: Demutualizationmentioning

confidence: 97%

Credit Unions: A Theoretical and Empirical Overview

McKillop¹,

Wilson²

2011

Financial Market

104

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In 2009 there were over 49,330 credit unions across 98 countries with more than 184 million members and approximately $1,354 billion in assets. There is a great diversity within the credit union movement across these countries. This reflects the various economic, historic and cultural contexts within which credit unions operate. This paper traces the evolution of the credit union movement. It examines credit union objectives, and considers issues relating to efficiency, technology adoption, product diversification, merger, failure and demutualization. The regulatory environment within which credit unions operate is also explored under the themes of interest rate regulation, common bond requirements, taxation, deposit insurance and capital regulation. The overview also considers demutualization and the costs and benefits to credit unions of altering their organizational form.

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Section: Demutualizationmentioning

confidence: 97%

Credit Unions: A Theoretical and Empirical Overview

McKillop¹,

Wilson²

2011

Financial Market

104

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The Influence of Fannie and Freddie on Mortgage Loan Terms

Kaufman

2013

Real Estate Economics

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This article uses a novel instrumental variables approach to quantify the effect that government‐sponsored enterprise (GSE) purchase eligibility had on equilibrium mortgage loan terms in the period from 2003 to 2007. The technique is designed to eliminate sources of bias that may have affected previous studies. GSE eligibility appears to have lowered interest rates by about ten basis points, encouraged fixed‐rate loans over ARMs and discouraged low documentation and brokered loans. There is no measurable effect on loan performance or on the prevalence of certain types of “exotic” mortgages. The overall picture suggests that GSE purchases had only a modest impact on loan terms during this period.

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Consumer Inattention and Bill-Shock Regulation

Grubb

2012

SSRN Journal

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Consumer Biases and Firm Ownership

Cited by 5 publications

References 27 publications

Credit Unions: A Theoretical and Empirical Overview

Credit Unions: A Theoretical and Empirical Overview

The Influence of Fannie and Freddie on Mortgage Loan Terms

Consumer Inattention and Bill-Shock Regulation

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