Corporate Governance and Banks: What Have We Learned from the Financial Crisis?

44 Pages Posted: 7 Jul 2011  

Hamid Mehran

Independent

Alan D. Morrison

University of Oxford - Said Business School; University of Oxford - Merton College

Joel D. Shapiro

University of Oxford - Said Business School

Date Written: June 1, 2011

Abstract

Recent academic work and policy analysis give insight into the governance problems exposed by the financial crisis and suggest possible solutions. We begin this paper by explaining why governance of banks differs from governance of non-financial firms. We then look at four areas of governance: executive compensation, boards, risk management, and market discipline. We discuss promising solutions and areas where further research is needed.

Keywords: governance, banks

JEL Classification: G01, G21, G32, G39

Suggested Citation

Mehran, Hamid and Morrison, Alan D. and Shapiro, Joel D., Corporate Governance and Banks: What Have We Learned from the Financial Crisis? (June 1, 2011). FRB of New York Staff Report No. 502. Available at SSRN: https://ssrn.com/abstract=1880009 or http://dx.doi.org/10.2139/ssrn.1880009

Hamid Mehran (Contact Author)

Independent ( email )

No Address Available

Alan Morrison

University of Oxford - Said Business School ( email )

Department of Finance
Park End Street
Oxford OX1 1HP
United Kingdom
+44 18 6527 6343 (Phone)
+44 18 6527 6310 (Fax)

University of Oxford - Merton College

Merton Street
Oxford OX1 4JD
United Kingdom
+44 18 6527 6343 (Phone)

Joel D. Shapiro

University of Oxford - Said Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain

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