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首页> 外文期刊>Journal of banking & finance >Corporate Governance In Banking: The Role Of The Board Of Directors
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Corporate Governance In Banking: The Role Of The Board Of Directors

机译：银行业的公司治理：董事会的作用

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摘要

We use a sample of large international commercial banks to test hypotheses on the dual role of boards of directors. We use a suitable econometric model (two step system estimator) to solve the well-known endogeneity problem in corporate governance literature, and demonstrate the empirical and theoretical superiority of system estimator over OLS and within estimators. We find an inverted U-shaped relation between bank performance and board size, and between the proportion of non-executive directors and performance. Our results show that bank board composition and size are related to directors' ability to monitor and advise management, and that larger and not excessively independent boards might prove more efficient in monitoring and advising functions, and create more value. All of these relations hold after we control for the measure of performance, the weight of the banking industry in each country, bank ownership, and regulatory and institutional differences.
机译：我们使用大型国际商业银行的样本来检验关于董事会双重角色的假设。我们使用合适的计量经济学模型（两步系统估计器）来解决公司治理文献中众所周知的内生性问题，并证明系统估计器相对于OLS和估计器在经验和理论上的优越性。我们发现银行绩效与董事会规模之间，非执行董事所占比例与绩效之间呈倒U形关系。我们的结果表明，银行董事会的组成和规模与董事监督和建议管理层的能力有关，而且规模更大且不太独立的董事会可能在监督和建议职能方面更为有效，并创造了更多价值。在控制了绩效衡量标准，每个国家银行业的权重，银行所有权以及监管和机构差异之后，所有这些关系均成立。

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