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The effect of board size and composition on bank efficiency

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  • Agoraki, Maria-Eleni
  • Delis, Manthos D
  • Staikouras, Panagiotis

Abstract

This paper analyzes the relationship between board structure, in terms of board size and composition, and bank performance. Unlike previous studies, the present analysis is carried out within a stochastic frontier framework. To this end, bank performance is proxied by both cost and profit efficiency, measures that present considerable advantages over simple accounting ratios. The empirical framework formed is applied to a panel of large European banks operating during the period 2002-2006. We find that board size negatively affects banks’ cost and profit efficiency, while the impact of board composition on profit efficiency is non-linear. Finally, introducing risk-taking (credit risk) as an interaction component of board size and composition does not affect the robustness of the results.

Suggested Citation

  • Agoraki, Maria-Eleni & Delis, Manthos D & Staikouras, Panagiotis, 2009. "The effect of board size and composition on bank efficiency," MPRA Paper 18548, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:18548
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    4. Isabel-María García-Sánchez, 2010. "The effectiveness of corporate governance: board structure and business technical efficiency in Spain," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 18(3), pages 311-339, September.
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    Keywords

    Corporate governance; Board size and composition; Bank cost and profit efficiency; Stochastic frontier analysis;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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