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Risk-adjusted measures of value creation in financial institutions

Milne, Alistair; Onorato, Mario - Suomen Pankki - 2009

Measuring value creation by comparing the RAROC of an exposure (the return on risk capital) with a single institution-wide hurdle rate is inconsistent with the standard theory of financial valuation. We use asset pricing theory to determine the appropriate hurdle rate for such a RAROC...

Persistent link: https://www.econbiz.de/10008509435

Corporate social responsibility and shareholder's value: an empirical analysis

Becchetti, Leonardo; Ciciretti, Rocco; Hasan, Iftekhar - Suomen Pankki - 2009

In today’s global economy, corporate social responsibility (CSR) is a core component of corporate strategy. Due in part to financial scandals, losses, and the diminished reputation of the affected listed companies, CRS is emerging as a crucial instrument for minimizing conflicts with...

Persistent link: https://www.econbiz.de/10005648877

Managers and efficiency in banking

Kauko, Karlo - Suomen Pankki - 2007

This paper presents evidence on the impact of managers on cost efficiency in banking. Stochastic frontier analysis is …. University education enhances efficiency if the manager is running a large bank. Managing director changes are systematically …

Persistent link: https://www.econbiz.de/10005190734

Yearbook / Suomen Pankki

Suomen Pankki; Taloustieteellinen Tutkimuslaitos <Helsinki>; … - Helsinki [u.a.] : Gov. Print. Off. - 1.1914/20 - 76.1995(1996)

Persistent link: https://www.econbiz.de/10000450105

Monthly bulletin / Bank of Finland. Ed. by the Bank of Finland Institute of Economic Research

Suomen Pankki - Helsinki : Bank - 1.1921 - 19.1939,10; 20.1946 - 61.1987

Persistent link: https://www.econbiz.de/10000350882

Special Issue: Financial stability, bank risk, and regulation in the light of the crisis

Papanikolaou, Nikolaos I. (contributor) - 2014

Persistent link: https://www.econbiz.de/10011301298

Do corporate boards affect firm performance? New evidence from the financial crisis

Francis, Bill; Hasan, Iftekhar; Wu, Qiang - Suomen Pankki - 2012

This study uses the current financial crisis as a quasi-experiment to examine whether and to what extent corporate boards affect the performance of firms. Using cumulative stock returns over the crisis to measure of firm performance, we find that board independence, as traditionally defined,...

Persistent link: https://www.econbiz.de/10010542073

Managerial style and bank loan contracting

Francis, Bill B.; Hasan, Iftekhar; Zhu, Yun - Suomen Pankki - 2013

sample that tracks job movement of top managers, we find that managerial style is a critical factor that explains a large … firm performance and corporate decisions, implying that certain managers achieve better firm performance via lower cost of … capital and other desirable non-price loan terms. We further find direct evidence that banks “follow” managers’ job changes …

Persistent link: https://www.econbiz.de/10010720138

Professors in the boardroom and their impact on corporate governance and firm performance

Francis, Bill B.; Hasan, Iftekhar; Wu, Qiang - Suomen Pankki - 2014

Directors from academia served on the boards of around 40% of S&P 1,500 firms over the 1998–2011 period. This paper investigates the effects of academic directors on corporate governance and firm performance. We find that companies with directors from academia are associated with higher...

Persistent link: https://www.econbiz.de/10010818982

Liquidity and market efficiency : alive and well?

Liikanen, Erkki; Jylhä, Petri; Pennacchi, George G.; … - Joint Conference with the Bank of Finland in Helsinki …; … - 2015

On 3 July 2015, SUERF organized its sixth joint conference with the Bank of Finland in Helsinki on the subject of …

Persistent link: https://www.econbiz.de/10011414459