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Central counterparty clearing: constructing a framework for evaluation of risks and benefits

Ripatti, Kirsi - Suomen Pankki - 2004

A Central Counterparty (CCP) is an entity that interposes itself between transacting counterparties – a seller vis-à-vis the original buyer and a buyer vis-à-vis the original seller – to guarantee execution of the transaction. Thus, the original transacting parties substitute their...

Persistent link: https://www.econbiz.de/10005419682

Incentives to Corporate Governance Activism

Leech, Dennis - Royal Economic Society - RES - 2003

governance of under-performing companies in their portfolio as recently proposed. By considering the private benefits and the … system of corporate governance. It finds that in many cases, by contrast, these incentives would be very strong indeed if …

Persistent link: https://www.econbiz.de/10005398515

Firm structure in banking and finance: is broader better?

Schmid, Markus; Walter, Ingo - In: Journal of Financial Perspectives 2 (2014) 2, pp. 65-75

A focal point in strategic and regulatory debates about the pros and cons of diversification among financial institutions continues to be the issue of economies of scope in financial intermediation. In this paper, we summarize the theoretical research on the value of diversification in financial...

Persistent link: https://www.econbiz.de/10011096787

Corporate Governance and Bank Performance: Evidence from Macedonia

Fidanoski, Filip; Mateska, Vesna; Simeonovski, Kiril - Volkswirtschaftliche Fakultät, … - 2013

governance in banks with the global financial crises, this paper investigates the relevance of board size, board composition and … hypotheses to test whether good corporate governance system can contribute towards higher banks performance. This research is …

Persistent link: https://www.econbiz.de/10011107627

Risk Choices and Compensation Design

Carey, Mark S.; Sun, Bo - Federal Reserve Board (Board of Governors of the … - 2015

We analyze the impact of bad-tail risks on managerial pay functions, especially the decision to pay managers in stock or in options. In contrast to conventional wisdom, we find that options are often a superior vehicle for limiting managerial incentives to take bad-tail risks while providing...

Persistent link: https://www.econbiz.de/10011268460

Do institutional investors monitor management? Evidence from the relationship between institutional ownership and capital structure

Chung, Chune Young; Wang, Kainan - In: The North American Journal of Economics and Finance 30 (2014) C, pp. 203-233

We examine the dynamic relations between institutional ownership and a firm's capital structure. We find that a firm's leverage decreases when institutional ownership increases. This result implies that a firm reduces its debt level as institutional investors substitute for the monitoring role...

Persistent link: https://www.econbiz.de/10011117735

DETERMINANTS OF BANK BOARD STRUCTURE IN GHANA

Adusei, Michael - In: The International Journal of Business and Finance Research 6 (2012) 1, pp. 15-23

The paper investigates the determinants of bank board structure in Ghana and finds that the Scope of Operations Hypothesis could explain the variation in board size but not board independence. On the other hand, the Board Monitoring Hypothesis could only explain the variation in board...

Persistent link: https://www.econbiz.de/10011206154

Risk management formations - an alternative approach to the 3 lines of defense model

Martin, Clive; Willman, Paul; Boukens, Roy; Rockley, Oliver - In: Journal of Financial Perspectives 2 (2014) 3, pp. 137-145

Many firms use the “3 lines of defense” (3LOD) model to clarify responsibility for risk management but this approach has limitations, as three distinct “lines” do not always enable sufficient clarity, mindsets formed through deployment in one business can be difficult to break when...

Persistent link: https://www.econbiz.de/10011196656

Corporate governance and risk reporting in South Africa: A study of corporate risk disclosures in the pre- and post-2007/2008 global financial crisis periods

Ntim, Collins G.; Lindop, Sarah; Thomas, Dennis A. - In: International Review of Financial Analysis 30 (2013) C, pp. 363-383

The 2007/2008 global financial crisis has reignited the debate regarding the need for effective corporate governance …

Persistent link: https://www.econbiz.de/10010730272

CORPORATE GOVERNANCE CODES OF BEST PRACTICE OF TOP ROMANIAN BANKS

Marilen, Pirtea; Ana-Cristina, Nicolescu - In: Annals of Faculty of Economics 1 (2013) 2, pp. 390-397

for avoiding a future one. Therefore, concern with governance issues and their focus has increased dramatically in recent … years. An effective corporate governance requires supervision and stability of the authority and rights and also obligations … of shareholders, stakeholders, and civil society altogether. Corporate governance cannot be considered a fixed number of …

Persistent link: https://www.econbiz.de/10010733839