Anginer, Deniz; Demirguc-Kunt, Asli; Huizinga, Harry; … - C.E.P.R. Discussion Papers - 2014
This paper finds that shareholder-friendly corporate governance is positively associated with bank insolvency risk, as proxied by the Z-score and the Merton’s distance to default measure, for an international sample of banks over the 2004-2008 period. Banks are special in that ‘good’...