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Bank Corporate Governance and Real Estate Lending During the Financial Crisis

Listed author(s):
  • Emilia Peni


    (University of Vaasa)

  • Stanley D. Smith


    (University of Central Florida)

  • Sami Vahamaa


    (University of Vaasa)

This paper examines the effects of bank corporate governance on real estate lending and loan losses during the recent financial crisis. The results indicate that banks with stronger corporate governance mechanisms had higher profitability during the period 2006–2009. Our findings on the effects of corporate governance on real estate lending performance are mixed and depend on the definition of the crisis period. Although banks with stronger governance practices had a lower amount of real estate loan losses during 2006–2008, our results also show that these banks experienced significantly larger losses in 2009.

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Article provided by American Real Estate Society in its journal journal of Real Estate Research.

Volume (Year): 35 (2013)
Issue (Month): 3 ()
Pages: 313-344

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Handle: RePEc:jre:issued:v:35:n:3:2013:p:313-344
Contact details of provider: Postal:
American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323

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Order Information: Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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