This paper finds that shareholder-friendly corporate governance is positively associated with bank insolvency risk, as proxied by the Z-score and the Merton's distance to default measure, for an international sample of banks over the 2004-08 period. Banks are special in that "good" corporate governance increases bank insolvency risk relatively more for banks that are large and located in countries with sound public finances, as banks aim to exploit...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2014/09/01
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Рабочий документ в рамках исследования вопросов политики
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WPS7017
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1
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1
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2014/09/01
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Disclosed
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Corporate governance and bank insolvency risk : international evidence
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corporate governance