文章基本信息

标题：Does Board Collective Suitability Affect Performance and Risk? Evidence from European Banks
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作者：Maria Luisa Di Battista ; Laura Nieri ; Marina Resta 等
期刊名称：International Journal of Economics and Finance
印刷版ISSN：1916-971X
电子版ISSN：1916-9728
出版年度：2022
卷号：14
期号：2
页码：1-22
DOI：10.5539/ijef.v14n2p1
语种：English
出版社：Canadian Center of Science and Education
摘要：This paper analyzes the features of the boards of large listed European banks and their degree of “collective suitability” as formalized by the Capital Requirements Directives (CRD4) and evaluates whether closer proximity to the collective suitability regulatory paradigm affects banks’ performance, risk and risk-adjusted performance. We leverage Self-Organizing Maps (SOMs) to analyze board features and suitability (i.e. competence, diversity, independence and time commitment) jointly as a multifaceted, non-linear combination of all board variables, rather than evaluating the single variables individually as in the mainstream literature. Using a hand-collected dataset based on numerous features of boards of directors, we find that European banks’ boards can be classified in four different board archetypes characterized by different degrees of collective suitability. Our findings also suggest positive relationships between the degree of collective suitability and performance, risk-adjusted performance, and risk, confirming that the regulatory provisions on governance are going in the right direction, enhancing effective and prudent management.
关键词：banks;boards;corporate governance;regulation;Self-Organizing Map;suitability