We evaluate the impact of strategic orientation on the failure probability of financial institutions. Using the US credit union industry as the empirical setting, we find that credit unions which exhibit preferential treatment to borrowers are more likely to fail, whereas those who set operational strategies towards balancing the benefits between savers and borrowers experience a lower failure probability. The impacts appear to be more pronounced in small credit unions and in credit unions which have a lower operating experience. We also find that borrower-oriented credit unions generate lower interest margins while neutral behavior credit unions generate higher margins.

中文翻译：

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我们能怪谁？战略方向对金融机构倒闭的影响

我们评估了战略导向对金融机构失败概率的影响。以美国信用合作社行业为实证背景，我们发现对借款人表现出优惠待遇的信用合作社更有可能失败，而那些制定运营策略以平衡储户和借款人利益的信用合作社失败概率较低。在小型信用合作社和运营经验较低的信用合作社中，这种影响似乎更为明显。我们还发现，以借款人为导向的信用合作社产生较低的息差，而中性行为的信用合作社产生较高的利润率。