Banking

The Corporate Governance Movement, Banks and the Financial Crisis

This paper discusses why a ?corporate governance movement? that commenced in the United States in the 1970s became an entrenched feature of American...

CRD IV and the Mandatory Structure of Bankers? Pay

In this paper, I analyse the rise of mandatory structure of bankers? pay in Europe as outcome of criticism of pre-crisis remuneration practices at...

Post-Crisis Corporate Culture and Governance in Banking

This paper provides a brief assessment of how ethics, culture and corporate governance have evolved in banking since the financial crisis. It concludes...

Unbundling Banking, Money, and Payments

For centuries, our systems of banking, money, and payments have been legally and institutionally intertwined.  The fact that these...

Securitization, Covered Bonds and the Risk Taking Behavior of European Banks

This study investigates the impact of securitization and the issuance of covered bonds on the credit risk taking behavior of banks. We collected data for...

'Glossy Green' Banks: The Disconnect Between Environmental Disclosures and Lending Activities

Using a credit registry of European banks’ new loan issuance and content analysis on their environmental disclosures, we show that banks that discuss...

The Political Economy of Bank- and Market Dominance

Corporate Governance in the Recent Financial Crisis: Evidence from Financial Institutions Worldwide

The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises

In the context of the global market for syndicated bank loans, we provide evidence that the collapse of international markets during financial crises...

Management Insulation and Bank Failures

How does management insulation from shareholder pressure influence banks’ resilience to crises? To address this question, we develop a...

Banks, Government Bonds, and Default: What do the Data Say?

We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold...

Bank Governance

According to a common narrative, in addition to inadequate capital and liquidity, the failure of banks in the financial crisis also reflected their poor...