TY  - JOUR 
TI  - Efficiency and expense preference in the colombian financial cooperative sector
PB  - Taylor and Francis Ltd.
PY  - 2008
issn 0225-5189
AB  - This paper explores the expense preference behaviour in Colombian financial cooperatives. Our findings indicate that small cooperatives seem to use a production technology that is different from that of large ones, high-leverage cooperatives appear to use a technology that is different from that of low-leverage cooperatives, and managers of larger units exhibit separable-expense behaviour, while managers from lower-leverage units exhibit joint-expense preference behaviour. These results suggest that, in Colombia, a merger of small cooperatives into larger ones is a decision that should either not be promoted or carefully analyzed before being taken, in order to clearly detect all the possible benefits that might counterbalance managers' expense preference behaviour. © Canadian Association for the Study of International Development, 2009.
KW  - Economía
KW  - Negocios y management
KW  - Economics
KW  - Business
UR  - http://hdl.handle.net/10906/78307
ER  -