Government ownership and corporate governance: Evidence from the EU

Borisova, Ginka; Brockman, Paul; Salas, Jesus M.; Zagorchev, Andrey

doi:10.1016/j.jbankfin.2012.01.008

Cited by 229 publications

(190 citation statements)

References 48 publications

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“…In the other study McConnell and Servaes (1990) mentioned that the relationship between insider ownership and performance is not linear, but they found that insider ownership always have positive effect on firm performance. Borisova et al (2012) investigated the impact of government ownership structure on corporate governance. Their finding showed that government ownership is related with lower governance quality and it is negatively influence the firm's corporate governance.…”

Section: Ownership Structure Risk Taking and Performancementioning

confidence: 99%

Mediating Risk Taking on Relationship between Board Structure Determinants and Banks Financial Performance

Nodeh

Anuar²,

Ramakrishnan³

et al. 2015

ASS

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This study examines the relevance of bank board structure determinants (board independence, board size and concentrated ownership) on financial performance and level risk taking. In addition, the role of risk taking investigated as mediator variable on relationship between these variables and financial performance. This research contributes to the empirical research, Using a sample of 37 Malaysian Islamic and conventional banks over [2005][2006][2007][2008][2009][2010][2011][2012][2013][2014]. In This study, The relationship between board structure determinants with level of risk taking and financial performance tested by pooled ordinary least square (OLS), fixed effects model, and generalized method of moments (GMM), however the role of risk taking as mediator variable examined by Baron and Kenny approach and Sobel test. The results shows that board structure have positive and negative relationship with financial performance and level of risk taking respectively. Furthermore, the relationship between board independence and concentrated ownership with financial performance mediate by risk taking.

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Section: Ownership Structure Risk Taking and Performancementioning

confidence: 99%

Mediating Risk Taking on Relationship between Board Structure Determinants and Banks Financial Performance

Nodeh

Anuar²,

Ramakrishnan³

et al. 2015

ASS

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show abstract

“…Therefore, Governments intervene and implement reforms and take corrective actions that bring the efficiency and stability to the financial system. This led regulators to conduct new cautious standards, in order to create healthier and stronger bank governance [10].…”

Section: Introductionmentioning

confidence: 99%

The Relationship Between Board of Directors’ Characteristics and Bank Risk-Taking: Evidence from Egyptian Banking Sector

Abobakr¹

2017

JFA

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Abstract:There is argument that the main reason behind the corporate failure is the engagement of banks in excessive risk taking. However, the existence literature provides conflicting evidence in this concern. The main objectives of this study is to investigate the influence of board characteristics on bank risk taking, by using Pooled Ordinary Least Squares regression techniques to test a sample of 27 Egyptian banks covering the period from 2006 to 2011. Measures of bank risk employed are the insolvency risk, credit risk and liquidity risk. The explanatory variables of board characteristics are board size, nonexecutive directors, CEO duality, female presence and, board qualifications. The control variables are bank size, debt ratio, and crisis. The results show that Board size is positively significant with the three measures of risks. Non-executive directors are negatively significant correlated with both insolvency and liquidity risk. CEO's duality is found positively significant with credit risk. Board female is negatively significant with insolvency and liquidity risk, while it is positively significant with credit risk. Board qualifications have no effect on the three measures of risks. The findings support the idea that board of director's characteristics is a determinant factor for bank risk taking.

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“…Similarly to Sovereign Wealth Funds, other relatively new intuitions have recently become important equity owners alongside the more traditional investors, such as pension funds and investment funds. In a similar vein, Bortolotti et al (2014) suggest that SWFs are the single most important expression of the force that can be called the rise of the fi duciary state. What makes this phenomenon especially signifi cant is the fact that the largest number of government equity purchases have been acquisitions in foreign companies, where a state purchaser has limited ability to exercise any sovereign regulatory or supervisory power.…”

Section: Institutional Investment In Global Financial Marketsmentioning

confidence: 94%

“…Much of this state investment was channeled through special investment vehicles -Sovereign Wealth Funds, and the vast bulk of stock purchases have been cross border transactions. SWFs have been buying non-controlling stakes in foreign and domestic companies in order to realize a longterm fi nancial return, rather than to own and operate these businesses as state enterprises (Bortolotti, Fotak, & Megginson, 2014).…”

Section: Institutional Investment In Global Financial Marketsmentioning

confidence: 99%

The impact of sovereign wealth fund ownership on the financial performance of firms: the evidence from emerging markets

Urban¹

2017

E+M

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Government ownership and corporate governance: Evidence from the EU

Cited by 229 publications

References 48 publications

Mediating Risk Taking on Relationship between Board Structure Determinants and Banks Financial Performance

Mediating Risk Taking on Relationship between Board Structure Determinants and Banks Financial Performance

The Relationship Between Board of Directors’ Characteristics and Bank Risk-Taking: Evidence from Egyptian Banking Sector

The impact of sovereign wealth fund ownership on the financial performance of firms: the evidence from emerging markets

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