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Boards of Banks

Author

Listed:
  • Daniel Ferreira

  • Tom Kirchmaier

  • Daniel Metzger

Abstract

We show that country characteristics explain most of the cross-sectional variation in bank board independence. In contrast, country characteristics have little explanatory power for the fraction of outside bank directors with experience in the banking industry. Exploiting the time-series dimension of the sample, we show that changes in bank characteristics are not robustly associated with changes in board independence, while changes in board experience are positively related to changes in bank size and negatively related to changes in performance. The evidence suggests that country-specific laws and regulations affect the composition of boards of banks mainly through requirements for director independence.

Suggested Citation

  • Daniel Ferreira & Tom Kirchmaier & Daniel Metzger, 2011. "Boards of Banks," FMG Discussion Papers dp664, Financial Markets Group.
    • Handle: RePEc:fmg:fmgdps:dp664
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    File URL: http://www.lse.ac.uk/fmg/workingPapers/discussionPapers/DP664_2010_BoardsofBanks.pdf
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    Cited by:

    1. Li, Li & Song, Frank M., 2013. "Do bank regulations affect board independence? A cross-country analysis," Journal of Banking & Finance, Elsevier, vol. 37(8), pages 2714-2732.

    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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