Dealing with Cross-Border Bank Distress: Some Specific Options for Reform

Claessens, Stijn

doi:10.1142/9789814322096_0023

Cited by 2 publications

(2 citation statements)

References 7 publications

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“…The sample period is significant for three reasons. Firstly, it represents the post GFC period, which saw significant changes in corporate governance (Claessens, 2009) across various countries and increased intervention of governments in capital markets. One of the notable consequences was increased government shareholdings in multiple sectors (The World Borisova et al, 2012;PwC, 2015).…”

Section: Methodology 41 Sample Selectionmentioning

confidence: 99%

State-owned enterprises' board characteristics and audit fees: an international perspective in view of economic freedom, political democracy and protection of minority shareholders

Shaat

Aldamen

Kercher

et al. 2023

ARA

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PurposeThe paper examines the relationship between board effectiveness and audit fees for state-owned enterprises (SOEs). Furthermore, given the unique nature of SOEs, the paper assesses country-level influences, such as economic freedom, political democracy and protection of minority shareholders, which can impact board effectiveness and audit fees.Design/methodology/approachA combination of two-stage and ordinary least squares regression is used to examine the board characteristics-audit fee relationship for SOEs in a multinational setting during the period from 2016 to 2018.FindingsThe results indicate that board characteristics that represent a high level of effectiveness are associated with higher audit fees in SOEs. Furthermore, the findings suggest SOE's operating in countries evidencing medium levels of democracy and economic freedom and medium to high levels of protection of minority shareholders may be motivated to reduce agency conflicts by promoting accountability and transparency, thereby demanding increasing levels of corporate governance, monitoring and audit quality, thereby increasing audit fees.Practical implicationsThe results provide further support for the OECD (2015) guidelines promoting the use of high-quality external audits in SOEs.Originality/valueAs a result of the scarceness of research in this area, the current study extends the literature by examining the role of corporate governance and audit fees in SOEs, while examining the influence of economic freedom, political democracy and protection of minority shareholders.

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Section: Methodology 41 Sample Selectionmentioning

confidence: 99%

State-owned enterprises' board characteristics and audit fees: an international perspective in view of economic freedom, political democracy and protection of minority shareholders

Shaat

Aldamen

Kercher

et al. 2023

ARA

View full text Add to dashboard Cite

show abstract

“…For more details on principles of corporate debt restructuring, including SMEs, seeLaryea (2010),Hagan et al (2003),Hoelscher andQuintyn (2003), andClaessens et al (2003). Since SMEs share characteristics with the restructuring of household debt (both are small and numerous, complicating restructuring, and both rely heavily on property as collateral for loans), see alsoLaeven and Laryea (2009).©International Monetary Fund.…”

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confidence: 99%

Ireland: Selected Issues

Fund¹

2012

IMF Staff Country Reports

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This paper on Ireland was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on August 28, 2012. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Ireland or the Executive Board of the IMF.The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information.

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Dealing with Cross-Border Bank Distress: Some Specific Options for Reform

Cited by 2 publications

References 7 publications

State-owned enterprises' board characteristics and audit fees: an international perspective in view of economic freedom, political democracy and protection of minority shareholders

State-owned enterprises' board characteristics and audit fees: an international perspective in view of economic freedom, political democracy and protection of minority shareholders

Ireland: Selected Issues

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