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
Citations
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Bank governance and performance: a survey of the literature
TL;DR: In this article, a review of the existing research on the relationship between bank governance and performance is provided, providing guidance for investors and regulators on the major points of consensus and disagreement among researchers on this issue.
Journal ArticleDOI
Gender Diversity on European Banks' Board of Directors: Traces of Discrimination
TL;DR: In this article, women's presence on boards of European Union (EU25) banks and the determinants that can explain their presence on their boards of directors, and identify the types of discrimination that are behind this determinants in order to show the economics and policy implications that can be derived of their analysis.
Posted Content
Corporate Governance of Banks in Developing Economies: Concepts and Issues
Thankom Arun,John D. Turner +1 more
TL;DR: In this paper, the authors discuss the corporate governance of banking institutions in developing economies and suggest that banking reforms can only be fully implemented once a prudential regulatory system is in place, which is a prerequisite for successful divestiture of government ownership.
Recent Developments in Corporate Governance
Joseph A. McCahery,Luc Renneboog +1 more
TL;DR: The OECD has published a number of guidelines and reports in the area of corporate governance, including its Principles of Corporate Governance; Good Practice Guidance on Internal Controls, Ethics, and Compliance; Guidelines on Corporate governance of State-Owned Enterprises; and Guidelines for Multinational Enterprises.
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.
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.