Publicação
Board´s characteristics and the financial crisis
| Resumo: | The 2007-2008 financial crisis is considered the worst financial crisis since the Great Depression and failures in governance, especially concerning boards, have been blamed for this financial turmoil. But, when dealing with governance issues, most research excludes financial firms from its analysis and is focused on US. So, we intend to fill this gap by analysing European banks. Also, why some banks suffered much more than others despite that they were exposed to the same macroeconomic factors? Can board’s features explain the variation of banks’ return during the crisis? And, which is the impact of the gender factor? Literature doesn’t answer these questions completely, so we intend to address it in our paper. Using a sample of 53 publicly listed banks from EMU countries, the main results suggest that banks whose executive directors are older and have more professional experience had better return during the crisis. Also, independence gains significance when combined with the gender factor. |
|---|---|
| Autores principais: | Fernandes, Catarina |
| Outros Autores: | Farinha, Jorge; Martins, F. Vitorino; Mateus, Cesário |
| Assunto: | Corporate governance Banks Financial crisis |
| Ano: | 2012 |
| País: | Portugal |
| Tipo de documento: | comunicação em conferência |
| Tipo de acesso: | acesso restrito |
| Instituição associada: | Instituto Politécnico de Bragança |
| Idioma: | inglês |
| Origem: | Biblioteca Digital do IPB |
| Resumo: | The 2007-2008 financial crisis is considered the worst financial crisis since the Great Depression and failures in governance, especially concerning boards, have been blamed for this financial turmoil. But, when dealing with governance issues, most research excludes financial firms from its analysis and is focused on US. So, we intend to fill this gap by analysing European banks. Also, why some banks suffered much more than others despite that they were exposed to the same macroeconomic factors? Can board’s features explain the variation of banks’ return during the crisis? And, which is the impact of the gender factor? Literature doesn’t answer these questions completely, so we intend to address it in our paper. Using a sample of 53 publicly listed banks from EMU countries, the main results suggest that banks whose executive directors are older and have more professional experience had better return during the crisis. Also, independence gains significance when combined with the gender factor. |
|---|