The aim of this paper is to analyze the combined effect of both internal and external mechanisms on the performance of thirty European banks. This research uses a technique of panel data over the period 2004 to 2009. The results show that banks conduct trade-offs between different governance...

This paper extends Ellul and Yerramilli's (2013) risk governance index for U.S. banks to international banks across 33 countries, using that index to examine relations between national codes of governance, individual bank risk governance and both risk and performance outcome measures in periods...

Is the governance of banks different from other corporations? Which regulation and public policies enhance the governance of banks? We address these questions investigating the existence and magnitude of private benefits of control in banks around the world. We construct a new database covering...

We provide evidence that large creditors exert a governing influence over corporate borrowers outside of covenant (technical) violation and payment default states. We show that, subsequent to syndicated loan origination, borrowers decrease capital inefficiencies, increase investments in...

Though overall bank performance from July 2007 to December 2008 was the worst since the Great Depression, there is significant variation in the cross-section of stock returns of large banks across the world during that period. We use this variation to evaluate the importance of factors that have...

We analyse the wide array of rescue programmes adopted in several countries, following Lehman Brothers' default in September 2008, in order to support banks and other financial institutions. We first provide an overview of the programmes, comparing their characteristics, magnitudes and...

We use a large sample of non-US banks to examine the propagation of the 2007-2009 crisis. Using both stock market and structural variables we test whether the relative incidence of the crisis was better explained by crisis models or by the VaR-type analysis of the Basel system. Consistent with...

We empirically identify exploratory evidence suggesting the potential for establishing an international corporate governance law protecting investors in relation to the outside directors on the board. Our conclusions are consistent with the principles proposed by OECD in 2004. Our study...

Though overall bank performance from July 2007 to December 2008 was the worst since at least the Great Depression, there is significant variation in the cross-section of stock returns of large banks across the world during that period. We use this variation to evaluate the importance of factors...

We analyse the wide array of rescue programmes adopted in several countries, following Lehman Brothers' default in September 2008, in order to support banks and other financial institutions. We first provide an overview of the programmes, comparing their characteristics, magnitudes and...