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Corporate governance and banks: What have we learned from the financial crisis? : Hamid Mehran; Alan Morrison; Joel Shapiro

Mehran, Hamid; Morrison, Alan; Shapiro, Joel - 2011

Recent academic work and policy analysis give insight into the governance problems exposed by the financial crisis and suggest possible solutions. We begin this paper by explaining why governance of banks differs from governance of nonfinancial firms. We then look at four areas of governance:...

Persistent link: https://www.econbiz.de/10010287091

Bank capital and value in the cross section

Mehran, Hamid; Thakor, Anjan - 2009

We address two questions: (i) Are bank capital structure and value correlated in the cross section, and if so, how? (ii …) If bank capital does affect bank value, how are the components of bank value affected by capital? We first develop a … dynamic model with a dissipative cost of bank capital that is traded off against the benefits of capital: strengthened …

Persistent link: https://www.econbiz.de/10010287142

Robust capital regulation

Acharya, Viral; Mehran, Hamid; Schuermann, Til; Thakor, … - 2011

Banks' leverage choices represent a delicate balancing act. Credit discipline argues for more leverage, while balance-sheet opacity and ease of asset substitution argue for less. Meanwhile, regulatory safety nets promote ex post financial stability, but also create perverse incentives for banks...

Persistent link: https://www.econbiz.de/10010287178