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The financial crisis has led to renewed interest in the effects of deregulation on bank governance and incentives … provided to bank CEOs. We examine the relation between bank CEO turnover and performance, and whether this relation has been … affected by banking deregulation. We find that bank CEO turnover is more (less) sensitive to stock (accounting) performance in …
Persistent link: https://www.econbiz.de/10012895379
firm's chief executive officer (CEO) facial trustworthiness into bank loan contracting. We find that banks tend to grant …
Persistent link: https://www.econbiz.de/10012841598
We examine the effects of CEO turnover in banks. Incoming bank CEOs face problems from information asymmetry because … banks' operations are opaque and bank risk can change dramatically in a short time. Incoming bank CEOs may therefore change … bank policies to manage their personal risks. Since CEO turnover is usually endogenous, we utilize a setting where CEO …
Persistent link: https://www.econbiz.de/10012970063
show that CEO power underscores the absence or lack of gender composition of bank boards and constrains independent … the CEO power effect on bank board structure, such that the actual sign of the marginal effect of CEO power on bank board … antecedent of bank corporate governance (i.e. board structure) by providing an understanding of the implications of social …
Persistent link: https://www.econbiz.de/10012057302
banks from 2002 to 2010, we find that the inclusion of female executives increases bank performance after addressing … gender ratio results in a greater impact on bank performance and risk taking. This supports the argument to increase gender …
Persistent link: https://www.econbiz.de/10013057446
Using a hand-collected sample of covenant violations reported by U.S. public firms, we examine whether and to what extent the entrenched board affects loan covenant violations. We find that CEO tenure is significantly and positively related to future covenant violation. Long tenure enhances CEO...
Persistent link: https://www.econbiz.de/10013059976
In this research, we examine the effect of focus and managerial ownership on the financial performance of REITs from the US financial market. Our empirical results demonstrate that there is a positive relationship between focus and financial performance in this sector that are consistent with...
Persistent link: https://www.econbiz.de/10012930605
It is the common understanding that private lenders evaluate and price the debt contract based on the credit rating, default risk and firm characteristics of the borrowing firms. This paper takes a different angel and investigates the extent to which the loan contract incorporates and reflects...
Persistent link: https://www.econbiz.de/10013034593
Understanding CEO compensation plans is a continuing challenge for directors and investors. The disclosure of these plans is dictated by SEC rules that rely heavily on the “fair value” of awards at the time they are granted. The problem with these numbers is that they are static and do not...
Persistent link: https://www.econbiz.de/10011870307
We investigate the effect of managerial incentives and market power on bank risk-taking for a sample of 212 large US … bank holding companies over 1997-2004 (i.e. 1,534 observations). Bank managers have incentives to prefer less risk while … bank shareholders have preference for ‘excessive' risk. Likewise, the market power is the centre piece of any bank …
Persistent link: https://www.econbiz.de/10013133995