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Bank Corporate Governance and Real Estate Lending During the Financial Crisis

Author

Listed:
  • Emilia Peni

    () (University of Vaasa)

  • Stanley D. Smith

    () (University of Central Florida)

  • Sami Vahamaa

    () (University of Vaasa)

Abstract

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.

Suggested Citation

  • Emilia Peni & Stanley D. Smith & Sami Vahamaa, 2013. "Bank Corporate Governance and Real Estate Lending During the Financial Crisis," Journal of Real Estate Research, American Real Estate Society, vol. 35(3), pages 313-344.
  • Handle: RePEc:jre:issued:v:35:n:3:2013:p:313-344
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    Cited by:

    1. Iqbal, Jamshed & Strobl, Sascha & Vähämaa, Sami, 2015. "Corporate governance and the systemic risk of financial institutions," Journal of Economics and Business, Elsevier, vol. 82(C), pages 42-61.
    2. repec:eee:quaeco:v:64:y:2017:i:c:p:120-129 is not listed on IDEAS

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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