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Concentrated control, institutions, and banking sector: An international study
Haw I.-M.; Ho S.S.M.; Hu B.; Wu D.
2010
Source PublicationJournal of Banking and Finance
ISSN3784266
Volume34Issue:3Pages:485
AbstractUsing a broad sample of listed commercial banks in East Asia and Western Europe, this paper investigates the relations among concentrated control, a set of bank operating characteristics, and legal and regulatory regimes. We find that banks with concentrated control exhibit poorer performance, lower cost efficiency, greater return volatility, and higher insolvency risk, relative to widely held ones. We also document that legal institutions and private monitoring effectively reduce the detrimental effects of concentrated control and that official disciplinary power plays a weak governance role, whereas government intervention exacerbates the adverse effects. Further evidence shows that the relations between control concentration and bank operating characteristics are curvilinear and vary according to the types of controlling owners. Overall, our findings support the contention that country-level institutions play important roles in constraining insider expropriation, and that private monitoring mechanisms are more effective than are public rules and supervision in governing banks. © 2009 Elsevier B.V. All rights reserved.
KeywordBank operations Bank regulations Concentrated control Legal institutions
DOI10.1016/j.jbankfin.2009.08.013
URLView the original
Language英语
The Source to ArticleScopus
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Cited Times [WOS]:42   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionUniversity of Macau
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GB/T 7714
Haw I.-M.,Ho S.S.M.,Hu B.,et al. Concentrated control, institutions, and banking sector: An international study[J]. Journal of Banking and Finance,2010,34(3):485.
APA Haw I.-M.,Ho S.S.M.,Hu B.,&Wu D..(2010).Concentrated control, institutions, and banking sector: An international study.Journal of Banking and Finance,34(3),485.
MLA Haw I.-M.,et al."Concentrated control, institutions, and banking sector: An international study".Journal of Banking and Finance 34.3(2010):485.
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