Ownership structure, regulation and the market for corporate control in the EU banking sector

Köhler, Matthias

doi:10.1007/s10657-010-9174-y

Cited by 3 publications

(2 citation statements)

References 32 publications

(47 reference statements)

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“…We consider shareholders with less than 10% of voting rights to be a null value, following Laeven and Levine (2009). According to Köhler (2010), the mean of United Kingdom (UK) voting rights is lower when comparing with Continental Europe [8], mainly due to the protection of shareholders' rights in UK, where large shareholders do not need to have much control of the bank to be able to control the management decisions.…”

Section: Methodsmentioning

confidence: 99%

Risk-taking by banks: evidence from European Union countries

Garcia

2023

CFRI

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PurposeThe aim of this paper is to study the relationship between banks' ownership structure and their risk-taking behavior as well as the impact of banking regulation on banks' approach to taking risk, after the 2008 financial crisis.Design/methodology/approachThe empirical analysis considers a sample of listed banks from European Union (EU) countries, over the period of 2011–2016 and uses the generalized least squared (GLS) random effect (RE) method, following Baltagi and Wu (1999) and Pathan (2009).FindingsThe authors find that the structure of the board of directors can influence bank risk behavior but not the ownership concentration. No significant relation was found between the influence of the regulatory environment and bank risk, i.e., stricter regulation has no effect on risk taking by banks.Originality/valueThe paper contributes to the literature in risk measures and banks' corporate governance. It also considers the impact of regulatory framework on banks' risk-taking behavior. The aim of this empirical analysis was to examine in greater detail these subjects and the dynamics between them after the significant structural changes in the macroeconomic environment and in the financial system, particularly with regards the regulatory and supervisory framework following the 2008 financial crisis, using data from European Union countries.

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Section: Methodsmentioning

confidence: 99%

Risk-taking by banks: evidence from European Union countries

Garcia

2023

CFRI

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“…La Porta et al, (2000) argued that a better investor protection framework will reduce the need for the emergence of large shareholders to control management. The largest shareholder is defined as the largest direct or indirect stake of an individual shareholder or a group of shareholders (Köhler, 2012). Normally, large shareholders should mitigate the self-interested managerial behaviour.…”

Section: Ownership Structure and Banks` Attitude Towards Risk And Permentioning

confidence: 99%

Corporate Governance in Banks and its Impact on Risk and Performance: Review of Literature on the Selected Governance Mechanisms

Himaj

2014

Journal of Central Banking Theory and Practice

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Corporate governance is viewed as an important, essential, and most significant factor for well-functioning of firms. Recent academic work and policy analyses have given insight into the governance problems in banks exposed to the financial crisis and suggest possible solutions. This paper begins by explaining the importance of corporate governance and its impact on risk taking and bank performance based on the theoretical background relevant to the corporate governance of banks. I combine the literature that looks at three areas of governance: ownership structure; board structure; and risk management, with the literature on risk-taking and performance effects in order to better assess the weight of the impact that these governance mechanisms have on both performance and risk. The paper concludes by highlighting the areas where further research is needed.

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An examination into the markets for corporate control: Evidence on merger and acquisition deals involving Qatari companies

Bodolica¹

2013

COC

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Although a rich body of literature on acquisition deals and their distinguishing features exists in Western business settings, the current understanding of the governance discipline instituted by the market for corporate control in the emerging and rapidly growing economy of Qatar is severely underdeveloped. As the country is seeking to achieve its vision of becoming a preferred financial hub in the MENA region by hosting mega sport events and attracting significant foreign investments, the importance of the local market for corporate control as an external governance mechanism cannot be neglected. This study seeks to contribute to the building of a contextual knowledge in the field by providing empirical evidence on M&A transactions involving Qatari targets and acquirers. The collected data are analyzed in terms of both the idiosyncrasies of participating companies (i.e., industry and public/private status of target and acquiring firms; features of repetitive acquirers) and specific deal characteristics (i.e., absolute number and dollar value; diversifying versus consolidating, domestic versus cross-border, and synergistic versus disciplinary acquisitions; size of control premium; mode of financing; type of antitakeover defenses). Several recommendations for future research directions on M&A activities in Qatar are provided in the concluding section of the article

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Ownership structure, regulation and the market for corporate control in the EU banking sector

Cited by 3 publications

References 32 publications

Risk-taking by banks: evidence from European Union countries

Risk-taking by banks: evidence from European Union countries

Corporate Governance in Banks and its Impact on Risk and Performance: Review of Literature on the Selected Governance Mechanisms

An examination into the markets for corporate control: Evidence on merger and acquisition deals involving Qatari companies

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