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Assessing effectiveness and compliance of banking boards

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  • Alessandro Carretta
  • Vincenzo Farina
  • Paola Schwizer

Abstract

Purpose – This paper aims to develop a model to assess the effectiveness and compliance of bank boards, taking into account their unique characteristics, financial industry standards and regulations. Design/methodology/approach – The literature on the roles and effectiveness of boards and directors in the financial industry is reviewed. Findings – The main finding in the literature suggests that evaluating the effectiveness of a board must include characteristics of the entire board as well as individual contributions of directors. Practical implications – Banking boards, more than in the past, must proactively evaluate their effectiveness and compliance with existing rules. Originality/value – The paper proposes a model for assessing the effectiveness and compliance of boards and directors of banking organizations, considering their characteristics, financial industry standards and regulations.

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Bibliographic Info

Article provided by Emerald Group Publishing in its journal Journal of Financial Regulation and Compliance.

Volume (Year): 18 (2010)
Issue (Month): 4 (November)
Pages: 356-369

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Handle: RePEc:eme:jfrcpp:v:18:y:2010:i:4:p:356-369

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Related research

Keywords: Banking; Boards of Directors; Corporate governance; Financial industries;

References

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  1. Alessandro Minichilli & Jonas Gabrielsson & Morten Huse, 2007. "Board Evaluations: making a fit between the purpose and the system," Corporate Governance: An International Review, Wiley Blackwell, vol. 15(4), pages 609-622, 07.
  2. Andy Mullineux, 2006. "The corporate governance of banks," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 14(4), pages 375-382, November.
  3. Mohamed Belkhir, 2009. "Board of directors' size and performance in the banking industry," International Journal of Managerial Finance, Emerald Group Publishing, vol. 5(2), pages 201-221, April.
  4. John A. Wagner III, 1998. "Board Composition and Organizational Performance: Two Studies of Insider/outsider Effects," Journal of Management Studies, Wiley Blackwell, vol. 35(5), pages 655-677, 09.
  5. Murphy, Kevin J. & Zimmerman, Jerold L., 1993. "Financial performance surrounding CEO turnover," Journal of Accounting and Economics, Elsevier, vol. 16(1-3), pages 273-315, April.
  6. Jensen, Michael C & Murphy, Kevin J, 1990. "Performance Pay and Top-Management Incentives," Journal of Political Economy, University of Chicago Press, vol. 98(2), pages 225-64, April.
  7. Renée B. Adams & Hamid Mehran, 2008. "Corporate performance, board structure, and their determinants in the banking industry," Staff Reports 330, Federal Reserve Bank of New York.
  8. Lex Donaldson & James H. Davis, 1991. "Stewardship Theory or Agency Theory: CEO Governance and Shareholder Returns," Australian Journal of Management, Australian School of Business, vol. 16(1), pages 49-64, June.
  9. Morten Huse & Violina Rindova, 2001. "Stakeholders' Expectations of Board Roles: The Case of Subsidiary Boards," Journal of Management and Governance, Springer, vol. 5(2), pages 153-178, June.
  10. Jens Hagendorff & Michael Collins & Kevin Keasey, 2007. "Bank Governance and Acquisition Performance," Corporate Governance: An International Review, Wiley Blackwell, vol. 15(5), pages 957-968, 09.
  11. Kaplan, Steven N. & Reishus, David, 1990. "Outside directorships and corporate performance," Journal of Financial Economics, Elsevier, vol. 27(2), pages 389-410, October.
  12. Kose John & Yiming Qian, 2003. "Incentive features in CEO compensation in the banking industry," Economic Policy Review, Federal Reserve Bank of New York, issue Apr, pages 109-121.
  13. Klein, April, 1998. "Firm Performance and Board Committee Structure," Journal of Law and Economics, University of Chicago Press, vol. 41(1), pages 275-303, April.
  14. Andres, Pablo de & Vallelado, Eleuterio, 2008. "Corporate governance in banking: The role of the board of directors," Journal of Banking & Finance, Elsevier, vol. 32(12), pages 2570-2580, December.
  15. David A. Becher & Terry L. Campbell II & Melissa B. Frye, 2005. "Incentive Compensation for Bank Directors: The Impact of Deregulation," The Journal of Business, University of Chicago Press, vol. 78(5), pages 1753-1778, September.
  16. Yermack, David, 1996. "Higher market valuation of companies with a small board of directors," Journal of Financial Economics, Elsevier, vol. 40(2), pages 185-211, February.
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