Purpose - The need for robust governance standards in financial institutions requires no overemphasis. However …, instances of governance failures have been a recurring global phenomenon. This paper examines the key elements of governance in … financial institutions, evaluates reasons for failures and suggests ways to strengthen governance and prevent such failures …

financial firms for the period 1996-2007, I document that the governance of financial firms is, on average, not obviously worse … than in nonfinancial firms. In fact, using simple governance scores and governance indices as measures, banks and nonbank … more independent than in other banks. My results suggest that measures of governance that have been the focus of recent …