generate high costs for banks which have a representative on the board of a client firm that experiences financial distress …. The protection of shareholder versus creditor rights under the U.S. bankruptcy doctrines may reduce the role that banks … implications for the current bank regulatory reform debate, such as whether to permit banks to own equity in non-financial firms …

, there is significant variation in the cross-section of stock returns of large banks across the world during that period. We … performance of banks during the credit crisis. More specifically, we investigate whether bank performance is related to bank … the crisis. Banks that the market favored in 2006 had especially poor returns during the crisis. Using conventional …

This paper conducts the first empirical assessment of theories concerning relationships among risk taking by banks …

Which public policies and ownership structures enhance the governance of banks? This paper constructs a new database on … the ownership of banks internationally and then assesses the ramifications of ownership, shareholder protection laws, and … supervisory/regulatory policies on bank valuations. Except in a few countries with very strong shareholder protection laws, banks …

countries. We find that firms in countries with strong official supervisory agencies that directly monitor banks tend to face … supervisory agency that is independent of the government and banks mitigates the adverse consequences of powerful supervision …. Finally, we find that bank supervisory agencies that force accurate information disclosure by banks and enhance private …

This paper investigates the frequency of connections between banks and non-financial firms through board linkages and … normally justifiable on economic grounds. To address this issue, we first document that banks are heavily involved in the … corporate governance network through frequent board linkages. Banks tend to have larger boards with a higher proportion of …

time, the typical firm on the Tokyo Stock Exchange lost more" than half its value and banks experienced severe adverse … firms suffer when their banks" are experiencing difficulties …

investment, and for contesting corporate governance. In Germany, where the stock market has historically been small, banks hold … equity stakes in firms and have proxy voting rights over other agents' shares. In addition, banks lend to firms and have … should improve the performance of firms. But, if banks have private information about firms that they lend to and have …

Managers' incentives may conflict with those of shareholders or creditors, particularly at leveraged, opaque banks … risks that benefit themselves at the expense of depositors. Banks must design contracting and governance structures that … sufficiently resolve agency problems so that they can attract funding from outside shareholders and depositors. We examine banks …