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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State-owned rural bank performance: do government ownership and corporate governance uniqueness matter?
TL;DR: In this paper, the authors examined whether rural banks owned by government have poorer performance than those owned by private parties with the emphasis on corporate governance uniqueness of state-owned rural banks.
Journal Article
The Significance of Indigenous Banks to Economic Development in Zimbabwe: A Case Study of Harare Metropolitan
Gerald Munyoro,Fanuel Dube +1 more
TL;DR: In this paper, the authors conducted a study to ascertain the significance of indigenous banks to the economic development of Zimbabwe because any economy requires the existence of a banking system to ensure the mobilization of excess money, as well as guiding money towards the pursuit of efficient economic activities that promote economic development.
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The effect of board size on shareholder value: Evidence from bank mergers and acquisitions
TL;DR: In this article , the effect of board size on the economic impact of bank mergers and acquisitions (M&A) in the US was examined and it was shown that board size is negatively related to acquirer excess returns.
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CEO Turnover, Forced Chairman Replacements and Firm Performance: Case of the Costa Rican Banking System
TL;DR: In this article, the effectiveness of corporate governance mechanisms in the Costa Rican banking sector, an industry characterised by fully outside boards, was examined using a regression analysis using the GMM technique in order to address endogeneity and firm-specific effects.
Journal Article
A Comparison of Board Governance Practices of Selected Philippine and Hong Kong Banks
TL;DR: In this article, the board governance practices between Philippine and Hong Kong banks using the Walker Review recommendations are compared and the governance gaps between the two countries are identified and proposed areas for improvement are also discussed so that the Philippine financial system will remain safe and sound.
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.
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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.
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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.