Corporate board and default risk of financial firms
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Corporate board and default risk of financial firms

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Corporate board and default risk of financial firms

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dc.contributor.author García Martín, Constantino José
dc.contributor.author Herrero Piqueras, María Begoña
dc.contributor.author Morillas Jurado, Francisco Gabriel
dc.date.accessioned 2022-04-06T08:30:48Z
dc.date.available 2022-04-06T08:30:48Z
dc.date.issued 2022
dc.identifier.uri https://hdl.handle.net/10550/82189
dc.description.abstract This paper analyses the impact of corporate board structure on default risk of European banking firms. We focus on four core aspects of boards that have been addressed in Directive 2013/36/EU to strengthen the corporate governance of banks: the size of boards, their independence, the participation of female directors and CEO duality. We employ panel data analysis to study the 109 European listed banks between 2002 and 2019. Default risk is estimated by Merton's (1974) distance to default. We take into account the presence of unobservable heterogeneity, simultaneity and dynamic endogeneity and estimate the model using the dynamic difference and dynamic system GMM methodologies. The results show that the size of the board influences banks' default risk. Furthermore, bank size, firm profitability and GDP also exert a considerable influence.
dc.language.iso eng
dc.relation.ispartof Ekonomska Istrazivanja-Economic Research, 2022
dc.rights.uri info:eu-repo/semantics/openAccess
dc.source García Martín, Constantino José Herrero Piqueras, María Begoña Morillas Jurado, Francisco Gabriel 2022 Corporate board and default risk of financial firms Ekonomska Istrazivanja-Economic Research, vol 35, n. 1 511-528.
dc.subject Finances
dc.title Corporate board and default risk of financial firms
dc.type info:eu-repo/semantics/article
dc.date.updated 2022-04-06T08:30:48Z
dc.identifier.doi https://doi.org/10.1080/1331677X.2021.1909490
dc.identifier.idgrec 148777

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