Search results
Filter
3 results
Sort by:
CORPORATE CONTROL IN COMMERCIAL BANKS
In: The journal of financial research: the journal of the Southern Finance Association and the Southwestern Finance Association, Volume 20, Issue 4, p. 509-527
ISSN: 1475-6803
AbstractUnique factors in commercial banks' legal and regulatory environment may influence their mechanisms of corporate control. I investigate this issue in a sample of U.S. bank holding companies (BHCs) by analyzing how many underwent a change in corporate control by hostile takeover, friendly merger, management turnover by the board, or intervention by regulators. I compare the relative importance of these methods with those in nonfinancial firms. 1 relate the use of these methods to BHC board and ownership structure and performance. I find that the most important corporate control mechanism in banks is regulatory intervention, and that the primary market‐based corporate control mechanism is action by the board of directors. Overall, however, BHC boards are much less assertive than their counterparts at nonfinancial firms. I examine reasons for this.
The Ikle-Wohlstetter report
In: The national interest, Issue 12, p. 11-22
ISSN: 0884-9382
World Affairs Online