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Supervisory boards, financial crisis and bank performance: do board characteristics matter?

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dc.contributor.authorFernandes, Catarina
dc.contributor.authorFarinha, Jorge
dc.contributor.authorMartins, Francisco Vitorino
dc.contributor.authorMateus, Cesário
dc.date.accessioned2017-12-13T16:13:59Z
dc.date.available2017-12-13T16:13:59Z
dc.date.issued2017
dc.description.abstractFailures in governance, especially in regard to boards of directors, have been blamed for the 2007-2008 financial crisis. The increased public scrutiny regarding the actions and role of the board of directors in banks, following the crisis, inspires to examine whether and to what extent the characteristics of banks’ boards influence their performance in the crisis. Using a sample of 72 publicly listed European banks, we find that banks with more independent and busy boards experienced worse stock returns during the crisis. Conversely, the better performing banks had more banking experts serving as supervisory directors. Additionally, we find that gender and age diversity improved banks’ performance during the crisis; hence, diversity matters. We also construct a governance quality index on the basis of board characteristics and conclude that governance quality positively affects banks’ returns during the crisis. Overall, we find evidence that banks’ performance during the financial crisis is a function of their boards’ characteristics.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationFernandes, Catarina; Farinha, Jorge; Martins, Francisco Vitorino; Mateus, Cesario (2017). Supervisory boards, financial crisis and bank performance: do board characteristics matter? Journal of Banking Regulation. ISSN 1745-6452. 18:4, p. 310–337pt_PT
dc.identifier.doi10.1057/s41261-016-0037-5pt_PT
dc.identifier.urihttp://hdl.handle.net/10198/14715
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectCorporate governancept_PT
dc.subjectPerformancept_PT
dc.subjectBankspt_PT
dc.subjectFinancial crisispt_PT
dc.titleSupervisory boards, financial crisis and bank performance: do board characteristics matter?pt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.issue4pt_PT
oaire.citation.titleJournal of Banking Regulationpt_PT
oaire.citation.volume18pt_PT
person.familyNameFernandes
person.givenNameCatarina
person.identifier.ciencia-id9E19-46B7-D5BC
person.identifier.orcid0000-0002-3160-462X
person.identifier.scopus-author-id57192082026
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublication8ab5a126-6c6f-4e57-9a3d-a40fbf1d80ff
relation.isAuthorOfPublication.latestForDiscovery8ab5a126-6c6f-4e57-9a3d-a40fbf1d80ff

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