As the financial services industry becomes increasingly international, the more narrowly defined and historically protected national financial markets become less significant. Consequently, financial institutions must achieve a critical size in order to compete. Bank Mergers & Acquisitions...

This article explores an important but little studied dimension of the ongoing transformation of banking markets: the growth of risk management and compliance as key governance functions and the focus on risk as a foundation stone for regulatory strategy. The developments in risk and compliance...

[...]We begin with an overview of the topic of corporategovernance and proceed to a discussion of the particularcorporate governance problems of banks. We embrace the viewthat a corporation is best defined as a complex web or “nexus”of contractual relationships among the various claimants to...

The corporate governance problems of banks are qualitatively and quantitatively different from those of other firms. The authors argue that a key factor contributing to this difference is the growing opacity and complexity of bank activities, a trend that has increased the difficulty of managing...