Boards Determinants in Banking Industry: An International Perspective

23 Pages Posted: 6 Aug 2009 Last revised: 18 Mar 2013

See all articles by Marcos Santamaría-Mariscal

Marcos Santamaría-Mariscal

University of Burgos

Pablo de Andrés

Universidad Autonoma de Madrid; ECGI

Elena Romero-Merino

European University Miguel de Cervantes

Eleuterio Vallelado

University of Valladolid; University of Valladolid

Date Written: August 5, 2009

Abstract

Using and international sample of commercial banks over the period 1996-2006, our study analyzes if bank’s specific factors and the legal environment in which they operate affect the board’s composition. We consider the dual role of the board as both monitor and advisor. Results show that there is no optimal board for every bank but it depends on several variables such as the bank’s size, the ownership concentration, the growth opportunities and the monitoring power of the country’s authorities. Our results lead us to a warning related to the general recommendations included in the codes of good governance because each bank needs a specific board of directors.

Keywords: Banks, Corporate Governance, Board of Directors, Board's determinants

JEL Classification: G21, G34

Suggested Citation

Santamaría-Mariscal, Marcos and Andrés, Pablo de and Romero-Merino, Elena and Vallelado, Eleuterio, Boards Determinants in Banking Industry: An International Perspective (August 5, 2009). 22nd Australasian Finance and Banking Conference 2009, Available at SSRN: https://ssrn.com/abstract=1444475 or http://dx.doi.org/10.2139/ssrn.1444475

Marcos Santamaría-Mariscal (Contact Author)

University of Burgos ( email )

Plaza Infanta Elena
Burgos, Burgos 09001
Spain
34 947 258968 (Phone)

Pablo de Andrés

Universidad Autonoma de Madrid ( email )

Campus de Cantoblanco
C/ Francisco Tomás y Valiente, 5
Madrid, Madrid 28049
Spain
+34 91 497 6527 (Phone)
+34 91 497 3954 (Fax)

HOME PAGE: http://www.uam.es

ECGI

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

Elena Romero-Merino

European University Miguel de Cervantes ( email )

C/ Padre Julio Chevalier, n° 2
Valladolid, Valladolid 47012
Spain

HOME PAGE: http://www.uemc.edu

Eleuterio Vallelado

University of Valladolid ( email )

Avda. Valle Esgueva 6
47011 Valladolid, 47011
Spain
983423387 (Phone)
983186484 (Fax)

HOME PAGE: http://eleuteriovallelado.blogs.uva.es/

University of Valladolid ( email )

8 C/Plaza de Santa Cruz
Valladolid, Valladolid 47002
Spain
+34983423387 (Phone)

HOME PAGE: http://eleuteriovallelado.blogs.uva.es/

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