Board´s characteristics and the financial crisis

Fernandes, Catarina; Farinha, Jorge; Martins, F. Vitorino; Mateus, Cesário

http://hdl.handle.net/10198/10274

Use this identifier to reference this record.

Name:	Description:	Size:	Format:
P3_F4_27.pdf		300.68 KB	Adobe PDF	Download

Send Feedback

Authors

Abstract(s)

The 2007-2008 financial crisis is considered the worst financial crisis since the Great Depression and failures in governance, especially concerning boards, have been blamed for this financial turmoil. But, when dealing with governance issues, most research excludes financial firms from its analysis and is focused on US. So, we intend to fill this gap by analysing European banks. Also, why some banks suffered much more than others despite that they were exposed to the same macroeconomic factors? Can board’s features explain the variation of banks’ return during the crisis? And, which is the impact of the gender factor? Literature doesn’t answer these questions completely, so we intend to address it in our paper. Using a sample of 53 publicly listed banks from EMU countries, the main results suggest that banks whose executive directors are older and have more professional experience had better return during the crisis. Also, independence gains significance when combined with the gender factor.

Keywords

Corporate governance Banks Financial crisis

URI

http://hdl.handle.net/10198/10274

Citation

Fernandes, Catarina; Farinha, Jorge; Martins, F. Vitorino; Mateus, Cesário (2012). Board´s characteristics and the financial crisis. In 7th Portuguese Finance Network. Aveiro. ISBN: 978-972-789-362-1.