We develop a theory of bank board risk committees that explains why such committees can be valuable to shareholders even when they do not reduce bank risk....
This recent paper by Rui Albuquerque (Boston College), Luis Cabral (NYU) and Jose Correa Guedes (Catholic University of Portugal) shows that in...Read more
Financial institutions increasingly rely on third parties to provide their core business processes and information technology. With the rapid...Read more
Banks are special, and so is the corporate governance of banks and other financial institutions as compared with the general corporate governance...Read more
Shocks that hit part of the financial system, such as the subprime mortgage market in 2007, can propagate and amplify through the complex network...Read more
Bank executive incentives and compensation have been in the spotlight since the 2007-2009 financial crisis. Some claim that there was a corporate...Read more
The 2008 financial crisis set off a major debate about the role of accounting for financial stability. Politicians, policymakers and commentators...Read more
The financial crisis of 2008 and the ensuing sovereign debt crises of 2010 to 2012 had devastating consequences for European economies, not least...Read more
Modern finance is fast moving, complex, and the source of pervasive unknowns. Yet the processes governing how finance is regulated are typically...Read more