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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Financial Sector Reforms and Corporate Governance of Banks in Developing Economies: The Indian Experience
Thankom Arun,John D. Turner +1 more
TL;DR: In this paper, the authors found that the partial divestment of public sector banks (PSBs) has not brought about any significant changes in the quality of corporate governance mechanisms and confirmed the urgent need to review the size and composition of the PSB boards in India, particularly on adequate board level representation for private shareholders when there is mixed ownership between the government and the private sector.
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The Role of accounting in corporate governance in a developing country : institutional political economy perspective
Athula Ekanayake,Sujatha Perera +1 more
TL;DR: In this article, the authors examined the socio-political and institutional complexities associated with using accounting as a mechanism of governance in a government-owned commercial bank in a developing country, and found that compliance was mainly to gain legitimacy, appearance and society's support, rather than to enhance good governance.
Posted Content
Corporate Governance, Cash Flows, and Bank Performance: Developed and Developing Countries
TL;DR: In this article, the authors investigate the impact of corporate governance on bank performance and the mediating role of cash flows between corporate governance and bank performance in developed and developing countries, and find that the impact is more significant in developed countries than in developing countries.
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Corporate social responsibility: finding the middle ground
TL;DR: In this paper, the authors examine CSR theorists' criteria from the corporate executive's perspective and find out how corporate executives perceive CSR and how they would like to be perceived as CSR implementers.
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.
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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.