The effect of board size and composition on European bank performance |
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Authors: | Panagiotis K Staikouras Christos K Staikouras Maria-Eleni K Agoraki |
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Institution: | (1) Department of Banking and Financial Management, University of Piraeus, 80 Karaoli & Dimitriou Street, 18534 Piraeus, Greece;(2) Department of Accounting and Finance, Athens University of Economics and Business, Athens, Greece |
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Abstract: | Banks are “special” financial institutions generating distinct corporate governance challenges. The present paper examines
the relationship between two of the most pertinent corporate governance factors—that is, the size of the Board of Directors
and the proportion of non-executive directors—and firm performance on a sample of 58 large European banks over the period
2002–2004. The empirical analysis embraces a number of bank-specific variables. Our results reveal that bank profitability
is negatively related to the size of the Board of Directors, while the impact of Board composition, although positive in all
models, is, in most cases, insignificant. The results are robust after controlling for firm-specific variables.
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Keywords: | Corporate governance Bank performance Board size Board composition |
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