Board diversity reforms: Do they matter for EU bank performance?

Arnaboldi, Francesca; Casu, Barbara; Kalotychou, Elena; Sarkisyan, Anna

doi:10.1111/eufm.12238

Cited by 31 publications

(37 citation statements)

References 59 publications

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“…A few papers use non‐linear models to test non‐monotonic associations (Arnaboldi et al, 2020b; Fan et al, 2019; Fernandes, Farinha, Martins, & Mateus, 2017; Kiliç et al, 2015; Wang & Hsu, 2013). For instance, Fan et al (2019) contend that there is a non‐linear association between earnings management and gender diversity of banks and this relationship shifts from positive to negative until the number of women on the board is three or more.…”

Section: Slr Findingsmentioning

confidence: 99%

“…The empirical studies have applied a wide range of regression methods including ordinary least square (Bektas & Kaymak, 2009; Cardillo, Onali, & Torluccio, 2020), probit (Fernandes et al, 2016; Nguyen et al, 2015), logit (Talavera et al, 2018; Tapver et al, 2020), 2SLS (García‐Meca, Uribe‐Bohórquez, & Cuadrado‐Ballesteros, 2018; Owen & Temesvary, 2018), Heckman (Gangi et al, 2019), the difference in difference (Arnaboldi et al, 2020b; Berger et al, 2014), weighted least squares (Fernandes et al, 2017), and generalized method of moments (GMM; Ghosh, 2017; Pathan & Faff, 2013). Interestingly, there is no study applying structural equation model.…”

Section: Slr Findingsmentioning

confidence: 99%

“…First, the financial sector is different in terms of the pervasive role of regulation and the opaque nature of its main activities (Elamer, Ntim, & Abdou, 2020; Elamer, Ntim, Abdou, & Pyke, 2019; Elamer, Ntim, Abdou, Zalata, & Elmagrhi, 2019; Hagendorff et al, 2007). Financial companies are subject to more strict regulations and compliance standards (Arnaboldi, Casu, Kalotychou, & Sarkisyan, 2020b; Elamer et al, 2020). Second, due to the availability of loan activities, banks are exposed to more risk and make information asymmetry acute agency issue for banks.…”

Section: Introductionmentioning

confidence: 99%

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Nudging toward diversity in the boardroom: A systematic literature review of board diversity of financial institutions

et al. 2020

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Going beyond the mere gender diversity in the boardroom, this systematic review comprehensively covers the research on board diversity of financial institutions. More specifically, we cover gender diversity, as well as other characteristics of diversity, such as nationality, age, tenure, experience, education, ethnicity, and religion. A systematic literature review was employed using Scopus and Web of Science databases, covering all publications until May 2020, which resulted in 91 studies from 66 top‐ranked journals in accounting, finance, and economic fields. We analyze them based on the journal, methodology, research construct questions, and theoretical perspectives. Our results highlight the substantial knowledge gaps and the inconsistent findings of prior studies on several aspects of the field, suggesting avenues for further studies in terms of research designs, settings, scope, and theories. We argue that there is a need to explore other board diversity attributes rather than focusing on the gender diversity of the boards of financial institutions to achieve sustainable development. Also, more work is outlined on topics related to board diversity of financial firms that receive limited attention from scholars, such as (but not limited to) environmental performance, capital structure, intellectual capital, innovation and earnings quality of financial institutions, as well as the indirect effect of policy settings.

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Section: Slr Findingsmentioning

confidence: 99%

Section: Slr Findingsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Nudging toward diversity in the boardroom: A systematic literature review of board diversity of financial institutions

et al. 2020

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“…The e®ect of reforms on bank performance is however complex to disentangle. Arnaboldi et al (2018b) document that reforms increase bank stock returns up to two years after their introduction. While the impact is similar across mandatory regulation and soft law, the e®ectiveness of reforms depends on a country's institutional environment, its legal origin and its cultural openness to diversity.…”

Section: The Role Of Diversity In Bank Corporate Governancementioning

confidence: 99%

Corporate Governance in the European Banking Sector: Some Remarks on Diversity

Arnaboldi

2019

J. Fin. Mngt. Mar. Inst.

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This work discusses some of the critical aspects of bank corporate governance in the European Union. Enhancing sound corporate governance practices has become one of the major concerns in the supervisory authority's agenda and one of the critical features to evaluate banks' stability. The global rethinking about corporate governance rules has translated into a stronger focus on board diversity for EU banks. The existing literature and sound corporate governance practices support the view that di®erent types of board members may bring di®erent capabilities to their banks. Even if board diversity may add complexity to the functioning of the board, the advantages it brings are of utmost importance in the challenging environment banks are facing. This work highlights the fragmentation of the EU corporate governance rules as banks have to comply with 27 sets of di®erent regulations and codes. This complexity should not be ignored, as member states' speci¯cities, legal systems, and a more general openness to diversity in°uence the e®ect reforms may have on banks' performance and stability.

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“…The term of crisis has become common nowadays and the economic downturn have increased competition among companies to have better monitoring mechanisms and ethical codes (Arnaboldi et al, 2020;Ogunsanwo, 2019). In Brazil the subject is recurrent both in the economic and social spheres, and especially in the political ones.…”

Section: Introductionmentioning

confidence: 99%

Code of ethics and conduct in the light of corporate governance: the stakeholders' perspective

et al. 2021

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Purpose: To evaluate the theme "Code of Ethics and Conduct" in private or public organizations, considering the relationship between ethical issues and good practices in Corporate Governance, measures that subsidize the planning and strengthening of ethical cultures in the interpersonal context.Design / methodology / approach: The descriptive survey relied on the application of questionnaires and obtained 184 responses from organizations of various types. The study was carried out using codes of conduct made available by companies on their websites, characterized as primary sources. The data collected were worked in the SPSS, tabulated and presented as results in the form of tables or graphs, with appropriate analyses.Findings: The results show the adoption of good practices of integrity, especially on the Code of Ethics and Conduct. The adoption of an ethical code can be considered a way to formalize, encourage and guide responsible behavior among employees and organizations. Seen from the outside, it contributes to creating and maintaining a good corporate reputation and stakeholder trust. In this sense, the reasons behind the creation of a code have been stated in the Shareholders' Theory, the Legitimacy Theory and the Stakeholder Theory.Originality / value: The Code of Ethics and Conduct arises as an instrument to guide ethical behavior in organizations. Therefore, it is the declaration of the set of rights, duties, business conduct towards stakeholders, reflecting the culture and set of norms that enrich the company's decision-making processes and guide its behavior.

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Board diversity reforms: Do they matter for EU bank performance?

Cited by 31 publications

References 59 publications

Nudging toward diversity in the boardroom: A systematic literature review of board diversity of financial institutions

Nudging toward diversity in the boardroom: A systematic literature review of board diversity of financial institutions

Corporate Governance in the European Banking Sector: Some Remarks on Diversity

Code of ethics and conduct in the light of corporate governance: the stakeholders' perspective

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