Publicação
Supervisory boards, financial crisis and bank performance: do board characteristics matter?
| Resumo: | Failures in governance, especially in regard to boards of directors, have been blamed for the 2007-2008 financial crisis. The increased public scrutiny regarding the actions and role of the board of directors in banks, following the crisis, inspires to examine whether and to what extent the characteristics of banks’ boards influence their performance in the crisis. Using a sample of 72 publicly listed European banks, we find that banks with more independent and busy boards experienced worse stock returns during the crisis. Conversely, the better performing banks had more banking experts serving as supervisory directors. Additionally, we find that gender and age diversity improved banks’ performance during the crisis; hence, diversity matters. We also construct a governance quality index on the basis of board characteristics and conclude that governance quality positively affects banks’ returns during the crisis. Overall, we find evidence that banks’ performance during the financial crisis is a function of their boards’ characteristics. |
|---|---|
| Autores principais: | Fernandes, Catarina |
| Outros Autores: | Farinha, Jorge; Martins, Francisco Vitorino; Mateus, Cesário |
| Assunto: | Corporate governance Performance Banks Financial crisis |
| Ano: | 2017 |
| País: | Portugal |
| Tipo de documento: | artigo |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Instituto Politécnico de Bragança |
| Idioma: | inglês |
| Origem: | Biblioteca Digital do IPB |
| _version_ | 1867172828600598528 |
|---|---|
| author | Fernandes, Catarina |
| author2 | Farinha, Jorge Martins, Francisco Vitorino Mateus, Cesário |
| author2_role | author author author |
| author_facet | Fernandes, Catarina Farinha, Jorge Martins, Francisco Vitorino Mateus, Cesário |
| author_role | author |
| contributor_name_str_mv | Biblioteca Digital do IPB |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Fernandes, Catarina\",\"Person.identifier.orcid\":\"0000-0002-3160-462X\"},{\"Person.name\":\"Farinha, Jorge\"},{\"Person.name\":\"Martins, Francisco Vitorino\"},{\"Person.name\":\"Mateus, Cesário\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Biblioteca Digital do IPB |
| datacite.creators.creator.creatorName.fl_str_mv | Fernandes, Catarina Farinha, Jorge Martins, Francisco Vitorino Mateus, Cesário |
| datacite.date.Accepted.fl_str_mv | 2017-01-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2017-12-13T16:13:59Z |
| datacite.date.embargoed.fl_str_mv | 2017-12-13T16:13:59Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | Corporate governance Performance Banks Financial crisis |
| datacite.titles.title.fl_str_mv | Supervisory boards, financial crisis and bank performance: do board characteristics matter? |
| dc.contributor.none.fl_str_mv | Biblioteca Digital do IPB |
| dc.creator.none.fl_str_mv | Fernandes, Catarina Farinha, Jorge Martins, Francisco Vitorino Mateus, Cesário |
| dc.date.Accepted.fl_str_mv | 2017-01-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2017-12-13T16:13:59Z |
| dc.date.embargoed.fl_str_mv | 2017-12-13T16:13:59Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10198/14715 |
| dc.language.none.fl_str_mv | eng |
| dc.rights.cclincense.fl_str_mv | http://creativecommons.org/licenses/by/4.0/ |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | Corporate governance Performance Banks Financial crisis |
| dc.title.fl_str_mv | Supervisory boards, financial crisis and bank performance: do board characteristics matter? |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_6501 |
| description | Failures in governance, especially in regard to boards of directors, have been blamed for the 2007-2008 financial crisis. The increased public scrutiny regarding the actions and role of the board of directors in banks, following the crisis, inspires to examine whether and to what extent the characteristics of banks’ boards influence their performance in the crisis. Using a sample of 72 publicly listed European banks, we find that banks with more independent and busy boards experienced worse stock returns during the crisis. Conversely, the better performing banks had more banking experts serving as supervisory directors. Additionally, we find that gender and age diversity improved banks’ performance during the crisis; hence, diversity matters. We also construct a governance quality index on the basis of board characteristics and conclude that governance quality positively affects banks’ returns during the crisis. Overall, we find evidence that banks’ performance during the financial crisis is a function of their boards’ characteristics. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | article |
| fulltext.url.fl_str_mv | https://bibliotecadigital.ipb.pt/bitstreams/9aee0bba-862d-474f-aa95-0e20c2cb0f21/download |
| id | ipb_3d8e53c19fd885e64a1f2d1d361f629b |
| identifier.url.fl_str_mv | http://hdl.handle.net/10198/14715 |
| instacron_str | ipb |
| institution | Instituto Politécnico de Bragança |
| instname_str | Instituto Politécnico de Bragança |
| language | eng |
| network_acronym_str | ipb |
| network_name_str | Biblioteca Digital do IPB |
| oai_identifier_str | oai:bibliotecadigital.ipb.pt:10198/14715 |
| organization_str_mv | urn:organizationAcronym:ipb |
| person_str_mv | Fernandes, Catarina Fernandes, Catarina https://www.ciencia-id.pt/9E19-46B7-D5BC 9E19-46B7-D5BC http://orcid.org/0000-0002-3160-462X 0000-0002-3160-462X Farinha, Jorge Martins, Francisco Vitorino Mateus, Cesário |
| publishDate | 2017 |
| reponame_str | Biblioteca Digital do IPB |
| repository_id_str | urn:repositoryAcronym:ipb |
| service_str_mv | urn:repositoryAcronym:ipb |
| spelling | engpt_PTFailures in governance, especially in regard to boards of directors, have been blamed for the 2007-2008 financial crisis. The increased public scrutiny regarding the actions and role of the board of directors in banks, following the crisis, inspires to examine whether and to what extent the characteristics of banks’ boards influence their performance in the crisis. Using a sample of 72 publicly listed European banks, we find that banks with more independent and busy boards experienced worse stock returns during the crisis. Conversely, the better performing banks had more banking experts serving as supervisory directors. Additionally, we find that gender and age diversity improved banks’ performance during the crisis; hence, diversity matters. We also construct a governance quality index on the basis of board characteristics and conclude that governance quality positively affects banks’ returns during the crisis. Overall, we find evidence that banks’ performance during the financial crisis is a function of their boards’ characteristics.application/pdfpt_PTSupervisory boards, financial crisis and bank performance: do board characteristics matter?PersonalFernandes, CatarinaDSpacehttp://dspace.org/items/8ab5a126-6c6f-4e57-9a3d-a40fbf1d80ffDSpacehttp://dspace.org/items/8ab5a126-6c6f-4e57-9a3d-a40fbf1d80ffFernandesCatarinaCiência IDhttps://www.ciencia-id.pt9E19-46B7-D5BCORCIDhttp://orcid.org0000-0002-3160-462XScopus Author IDhttps://www.scopus.com57192082026Farinha, JorgeMartins, Francisco VitorinoMateus, CesárioHostingInstitutionOrganizationalBiblioteca Digital do IPBe-mailmailto:dspace@ipb.ptdspace@ipb.ptDOIIsPartOf10.1057/s41261-016-0037-52017-12-13T16:13:59Z20172017-01-01T00:00:00ZHandlehttp://hdl.handle.net/10198/14715http://purl.org/coar/access_right/c_abf2open accessCorporate governancePerformanceBanksFinancial crisis851745 bytesliteraturehttp://purl.org/coar/resource_type/c_6501journal article2017http://creativecommons.org/licenses/by/4.0/http://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://bibliotecadigital.ipb.pt/bitstreams/9aee0bba-862d-474f-aa95-0e20c2cb0f21/downloadJournal of Banking Regulation184 |
| spellingShingle | Supervisory boards, financial crisis and bank performance: do board characteristics matter? Fernandes, Catarina Corporate governance Performance Banks Financial crisis |
| status | SINGLETON |
| subject.fl_str_mv | Corporate governance Performance Banks Financial crisis |
| title | Supervisory boards, financial crisis and bank performance: do board characteristics matter? |
| title_full | Supervisory boards, financial crisis and bank performance: do board characteristics matter? |
| title_fullStr | Supervisory boards, financial crisis and bank performance: do board characteristics matter? |
| title_full_unstemmed | Supervisory boards, financial crisis and bank performance: do board characteristics matter? |
| title_short | Supervisory boards, financial crisis and bank performance: do board characteristics matter? |
| title_sort | Supervisory boards, financial crisis and bank performance: do board characteristics matter? |
| topic | Corporate governance Performance Banks Financial crisis |
| topic_facet | Corporate governance Performance Banks Financial crisis |
| url | http://hdl.handle.net/10198/14715 |
| visible | 1 |