Open AccessPosted Content
The Corporate Governance of Banks
Jonathan R. Macey,Maureen O'Hara +1 more
TLDR
In this paper, the authors argue that commercial banks pose unique corporate governance problems for managers and regulators, as well as for claimants on the banks' cash flows, such as investors and depositors.Abstract:
The study argues that commercial banks pose unique corporate governance problems for managers and regulators, as well as for claimants on the banks' cash flows, such as investors and depositors The authors support the general principle that fiduciary duties should be owed exclusively to shareholders However, in the special case of banks, they contend that the scope of the fiduciary duties and obligations of officers and directors should be broadened to include creditors In particular, the authors call on bank directors to take solvency risk explicitly and systematically into account when making decisions or else face personal liability for failure to do soread more
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The impact of ownership of banks on their performance: Case study of sample of Balkan countries
TL;DR: In this paper, the authors investigate the relationship between bank ownership (foreign vs. domestic) and bank profitability in three South-Eastern European countries, Bulgaria, Macedonia and Serbia using individual bank data, and explore this hypothesis on basis of a sample of 24 banks from the three sample countries through a data series of ROE for the period 2008-2016.
Posted Content
Performance and corporate governance in microfinance institutions
TL;DR: In this paper, the effect of board characteristics, ownership type, competition and regulation on the MFI's outreach to poor clients and its financial performance was studied. But no difference between nonprofit organizations and shareholder firms in financial performance and outreach was found.
Journal ArticleDOI
Best Practice Corporate Governance? The Failure of Bridgecorp
TL;DR: Limitations in regulatory structure and corporate governance contributed to the recent collapse of the finance company industry in New Zealand as mentioned in this paper, which is illustrated by the Bridgecorp Finance Ltd failure.
Proceedings ArticleDOI
After crisis the incentive contracts of commercial banks in China: A study based on Holmstrom-Milgrom model
Cui Ying,Qu Shi-you +1 more
TL;DR: In this paper, the authors analyze the multitasking principal-agent relationship and propose an optimal solution for equalization of incentive contracts in the framework of Holmstrom-Milgrom model.
Journal ArticleDOI
Reconceptualizing the Concept of Corporate Governance and its Goals in People’s Credit Banks in Indonesia
TL;DR: In this paper, the authors examined the concept of corporate governance and its goals in People's Credit Banks (PCBs) and concluded that corporate governance in PCBs should deal more with the achievement of long-term success of PCBs.
References
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Book
The Modern Corporation and Private Property
TL;DR: Weidenbaum and Jensen as mentioned in this paper reviewed the impact of developments not fully anticipated by Berle and Means, such as the rise of the service sector, and the significant role played by institutional investors in the owner/manager equation.
Journal ArticleDOI
Bank Runs, Deposit Insurance, and Liquidity
TL;DR: The authors showed that bank deposit contracts can provide allocations superior to those of exchange markets, offering an explanation of how banks subject to runs can attract deposits, and showed that there are circumstances when government provision of deposit insurance can produce superior contracts.
Journal ArticleDOI
Agency Problems and the Theory of the Firm
TL;DR: In this article, the authors explain how the separation of security ownership and control, typical of large corporations, can be an efficient form of economic organization, and set aside the presumption that a corporation has owners in any meaningful sense.
Book
A Monetary History of the United States
Milton Friedman,Anna J. Schwartz +1 more
TL;DR: The long-awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement as discussed by the authors, and the treatment of innumerable issues, large and small, have been brought to bear on the solution of complex and subtle economic issues.
Journal Article
Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure
TL;DR: In this paper, the authors integrate elements from the theory of agency, property rights and finance to develop a theory of the ownership structure of the firm and define the concept of agency costs, show its relationship to the separation and control issue, investigate the nature of the agency costs generated by the existence of debt and outside equity, demonstrate who bears costs and why and investigate the Pareto optimality of their existence.