Girotti, Mattia; Meade, Richard - 2017
Originally, U.S. savings banks were owned by their depositors. In recent decades, many savings banks have "demutualized … (including banks' ownership type). We then measure the effect on depositor welfare of a simulated demutualization of all customer …-owned savings banks. We find that depositors' welfare would increase on average. In particular, if demutualize savings banks offered …