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Board composition, monitoring and credit risk: evidence from the UK banking industry

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Listed:
  • Jia Lu

    (Liverpool Hope University)

  • Agyenim Boateng

    (Glasgow Caledonian University)

Abstract

This paper examines the effects of board composition and monitoring on the credit risk in the UK banking sector. The study finds CEO duality, pay and board independence to have a positive and significant effect on credit risk of the UK banks. However, board size and women on board have a negative and significant influence on credit risk. Further analysis using sub-samples divided into pre-financial crisis, during the financial crisis and post crisis reinforce the robustness of our findings. Overall, the paper sheds light on the effectiveness of the within-firm monitoring arrangement, particularly, the effects of CEO power and board independence on credit risk decisions thereby contributing to the agency theory.

Suggested Citation

  • Jia Lu & Agyenim Boateng, 2018. "Board composition, monitoring and credit risk: evidence from the UK banking industry," Review of Quantitative Finance and Accounting, Springer, vol. 51(4), pages 1107-1128, November.
    • Handle: RePEc:kap:rqfnac:v:51:y:2018:i:4:d:10.1007_s11156-017-0698-x
    DOI: 10.1007/s11156-017-0698-x
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    More about this item

    Keywords

    Corporate governance; Board composition; Monitoring; Credit risk; Banks;
    All these keywords.

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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