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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Analysis of the effect of corporate governance attributes on risk management practices
TL;DR: Gouiaa et al. as discussed by the authors analyzed the effect of corporate governance attributes on risk management practices in financial markets and institutions, and found that they had a negative effect on the performance of risk management.
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Best practice in bank corporate governance: The case of Islamic banks
Bchr Alatassi,Steve Letza +1 more
TL;DR: In this article, a conceptual model of corporate governance for Islamic banks based on both Islamic finance principles while fused with elements of Corporate Governance standards from Western theories and codes, primarily the UK, is presented.
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Corporate boards and firm performance: a meta-analytic approach to examine the impact of contextual factors
Anupama Prashar,Parul Gupta +1 more
TL;DR: In this paper, the impact of specific CB attributes on firm performance studied in varied contextual settings and investigates the moderating effects of three contextual factors, i.e. legal origin, industry type and firm type on CB-performance relationships.
Posted Content
Effective bank corporate governance: Observations from the market crash and recommendations for policy
TL;DR: In this paper, the authors examined the role of inadequate corporate governance in the financial market crash and found that the nature and composition of boards was not robust enough to provide independent direction.
Executive compensation, board independence and bank efficiency in China: the effects of the financial crisis
TL;DR: In this paper, the authors investigated how executive compensation affects bank efficiency in China using commercial bank data from 2004 and 2011, and found that higher compensation to executives reduces bank efficiency and this negative impact becomes more severe during the financial crisis.
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.