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Publication date: 1 October 2015

James E. McNulty and Aigbe Akhigbe

Directors help determine the strategic direction of a corporation and are responsible for ensuring the institution has a good system of internal control. Banking institutions…

Abstract

Directors help determine the strategic direction of a corporation and are responsible for ensuring the institution has a good system of internal control. Banking institutions without a strategic direction emphasizing sound lending practices that promote the long-run financial health and viability of the institution will be sued more frequently than peer institutions. Institutions that do not have a good system of internal control will also be sued more frequently. Hence, legal expense is a bank corporate governance measure. We compare the performance of bank legal expense and a widely cited corporate governance index in a regression framework to determine which better predicts bank performance. The regressions indicate legal expense is a much better predictor, hence a better measure of bank corporate governance. Regulators should require legal expense reporting and rank institutions by the ratio of legal expense to assets to help identify institutions with weak governance. Seven case studies illustrate the role of legal expense in corporate governance.

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International Corporate Governance
Type: Book
ISBN: 978-1-78560-355-6

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Publication date: 1 January 1997

James E. McNulty, George E. Morgan, Craig K. Ruff and Stephen D. Smith

The common view of many regulators and practitioners is that the minimum risk maturity gap is equal to zero. However, because of the interest sensitivity of such non‐gap items as…

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Abstract

The common view of many regulators and practitioners is that the minimum risk maturity gap is equal to zero. However, because of the interest sensitivity of such non‐gap items as the average spread between asset and liability rates, lending activity, fee income and prepayments, the minimum risk gap could be significantly different from zero. We formulate and test a model for a sample of four hundred and twenty six thrift institutions. The results strongly suggest that the minimum risk maturity gap is positive for the average firm in the sample and that there is substantial cross‐sectional variability in the ratio of the minimum risk gap to assets. This suggests that attempts to regulate interest rate risk using a uniform gap as a benchmark are misdirected. Finally, we provide some evidence that there is, in fact, a positive cross‐sectional relationship between measured maturity gap positions and our estimates of the minimum risk maturity gap.

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Managerial Finance, vol. 23 no. 1
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 February 1996

Craig R. Brown and Drew B. Winters

The State of Delaware recently passed a new banking law that allows banks and bank affiliates chartered in Delaware to sell and underwrite insurance nationwide. The new laws…

103

Abstract

The State of Delaware recently passed a new banking law that allows banks and bank affiliates chartered in Delaware to sell and underwrite insurance nationwide. The new laws provide two potential benefits to banks; (1) increased profits from selling insurance and (2) reduced interest rate risk exposure from underwriting insurance. We find support for increased profit potential to banks from the law, but we fail to find a reduction in the interest rate risk exposure of the banks.

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Studies in Economics and Finance, vol. 17 no. 1
Type: Research Article
ISSN: 1086-7376

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Book part
Publication date: 1 October 2015

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International Corporate Governance
Type: Book
ISBN: 978-1-78560-355-6

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Publication date: 28 May 2019

Mark E. Lokanan

The London Interbank Offered Rate (LIBOR) is considered to be the most important interest rate in finance upon which trillions in financial contracts are decided. In 2008, it was…

Abstract

The London Interbank Offered Rate (LIBOR) is considered to be the most important interest rate in finance upon which trillions in financial contracts are decided. In 2008, it was revealed that the LIBOR traders were rigging the interest rates. Yet, there is an unresolved question that regulators and banking officials did not address in their quest to seek answers to the fraud: Were the banks under financial strain when they underreported their LIBOR rates? To answer this question, the article posits that the pressure to meet market expectations led the banks to experience financial strain. Data were gathered from 2004 to 2008 on the banks that were involved in the fraud (fraud banks) and matched with a control group of non-fraud banks. The results from a logistic regression model found sufficient statistical evidence to support the claim that fraud will be greater in banks characterized by a higher level of organizational complexity. Variables such as percent of outside directors, board members on the audit committee, and number of employees were all found to be statistically significant. These variables may offer key insights into detecting and preventing frauds in banks.

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Beyond Perceptions, Crafting Meaning
Type: Book
ISBN: 978-1-78973-224-5

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Publication date: 19 July 2014

Alessandro Hinna, Ernesto De Nito, Gianluigi Mangia, Danila Scarozza and Andrea Tomo

In recent years, increasing scholarly attention has been directed towards the field of governing bodies research. However, little attention has been paid to the behavioural…

Abstract

Purpose

In recent years, increasing scholarly attention has been directed towards the field of governing bodies research. However, little attention has been paid to the behavioural perspective on studying public boards. Aiming to fulfil this gap this paper offers a review of the international literature addressing boards behaviour within the unique organizational setting of public sector.

Design/methodology/approach

Considering as behavioural studies those publications focusing on actors, processes, decision-making, relationships and interaction inside and outside the boardroom, 91 papers were analysed. Adopting the framework provided by Huse (2007), the papers are classified following four behavioural dimensions/blocks which are crucial to understand board dynamics: board members, interactions, structures and leadership, decision-making culture.

Findings

The literature review shows the increasing production – in the last years – on the theoretical issues related to the behavioural perspective in public governance literature. The most relevant part of these contributions addresses the theoretical dimensions of the board member’s characteristics and of structural leadership.

Originality/value of the chapter

The manuscript reveals the need to adopt a more organizational approach for studying the behavioural categories and levels of analysis proposed by public governance literature. Moreover, the article evidences some possible directions for future research that might further contribute to enrich the ‘behavioural governance perspective’ in public organizations.

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Mechanisms, Roles and Consequences of Governance: Emerging Issues
Type: Book
ISBN: 978-1-78350-706-1

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Book part
Publication date: 30 September 2016

Charles R. McCann and Vibha Kapuria-Foreman

Robert Franklin Hoxie was of the first generation of University of Chicago economists, a figure of significance in his own time. He is often heralded as the first of the…

Abstract

Robert Franklin Hoxie was of the first generation of University of Chicago economists, a figure of significance in his own time. He is often heralded as the first of the Institutional economists and the impetus behind the field of labor economics. Yet today, his contributions appear as mere footnotes in the history of economic thought, when mentioned at all, despite the fact that in his professional and popular writings he tackled some of the most pressing problems of the day. The topics upon which he focused included bimetallism, price theory, methodology, the economics profession, socialism, syndicalism, scientific management, and trade unionism, the last being the field with which he is most closely associated. His work attracted the notice of some of the most famous economists of his time, including Frank Fetter, J. Laurence Laughlin, Thorstein Veblen, and John R. Commons. For all the promise, his suicide at the age of 48 ended what could have been a storied career. This paper is an attempt to resurrect Hoxie through a review of his life and work, placing him within the social and intellectual milieux of his time.

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Research in the History of Economic Thought and Methodology
Type: Book
ISBN: 978-1-78560-962-6

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Publication date: 14 December 2018

Kathryn M. Nowotny

This review integrates and builds linkages among existing theoretical and empirical literature from across disciplines to further broaden our understanding of the relationship…

Abstract

This review integrates and builds linkages among existing theoretical and empirical literature from across disciplines to further broaden our understanding of the relationship between inequality, imprisonment, and health for black men. The review examines the health impact of prisons through an ecological theoretical perspective to understand how factors at multiple levels of the social ecology interact with prisons to potentially contribute to deleterious health effects and the exacerbation of race/ethnic health disparities.

This review finds that there are documented health disparities between inmates and non-inmates, but the casual mechanisms explaining this relationship are not well-understood. Prisons may interact with other societal systems – such as the family (microsystem), education, and healthcare systems (meso/exosystems), and systems of racial oppression (macrosystem) – to influence individual and population health.

The review also finds that research needs to move the discussion of the race effects in health and crime/justice disparities beyond the mere documentation of such differences toward a better understanding of their causes and effects at the level of individuals, communities, and other social ecologies.

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Inequality, Crime, and Health Among African American Males
Type: Book
ISBN: 978-1-78635-051-0

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Documents from and on Economic Thought
Type: Book
ISBN: 978-1-84950-450-8

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Article
Publication date: 1 September 2005

Rachel Ashworth, Tom Entwistle, Julian Gould‐Williams and Michael Marinetto

This monograph contains abstracts from the 2005 Employment Research Unit Annual Conference Cardiff Business School,Cardiff University, 6‐7th September 2005

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Abstract

This monograph contains abstracts from the 2005 Employment Research Unit Annual Conference Cardiff Business School, Cardiff University, 6‐7th September 2005

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Management Research News, vol. 28 no. 9
Type: Research Article
ISSN: 0140-9174

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