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Corporate Governance and Mergers and Acquisitions Performance in Banks: Evidence under the Special Regulatory Environment in Taiwan

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  • Chien-Chi Chu
  • Ying-Maw Teng
  • Hsiu-Ling Lee

Abstract

In this study, we focus on the relation between bank governance and bank merger results under Taiwan’s special regulatory environment in 2000. Adopting governance variables (executive remuneration, managerial ownership, and board diversity), we find that managerial ownership is positively related to bank merger results and that board size is negatively correlated with bank mergers’ performance. This study supports sound governance mechanisms to prevent banks from pursuing a value-loss merger and acquisition (M&A). Our results offer the insight that internal bank governance structures have a bigger impact on the value effects from bank mergers. Thus, regulators may elevate the performance of bank M&As by enhancing corporate governance codes.

Suggested Citation

  • Chien-Chi Chu & Ying-Maw Teng & Hsiu-Ling Lee, 2016. "Corporate Governance and Mergers and Acquisitions Performance in Banks: Evidence under the Special Regulatory Environment in Taiwan," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(10), pages 2309-2320, October.
    • Handle: RePEc:mes:emfitr:v:52:y:2016:i:10:p:2309-2320
    DOI: 10.1080/1540496X.2015.1103120
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    Cited by:

    1. Saleh F. A. Khatib & Dewi Fariha Abdullah & Ahmed A. Elamer & Raed Abueid, 2021. "Nudging toward diversity in the boardroom: A systematic literature review of board diversity of financial institutions," Business Strategy and the Environment, Wiley Blackwell, vol. 30(2), pages 985-1002, February.
    2. Arthur Jin Lin & Hai-Yen Chang, 2019. "Business Sustainability Performance Evaluation for Taiwanese Banks—A Hybrid Multiple-Criteria Decision-Making Approach," Sustainability, MDPI, vol. 11(8), pages 1-26, April.
    3. Hsueh-Li HUANG & Lien-Wen LIANG & Yi-Ching SU CHU, 2022. "The Impact of Corporate Social Responsibility and Corporate Governance on Bank Efficiency. Comparative Analysis of Consolidated and Nonconsolidated Banks," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 105-127, October.
    4. Chiaramonte, Laura & Dreassi, Alberto & Piserà, Stefano & Khan, Ashraf, 2023. "Mergers and acquisitions in the financial industry: A bibliometric review and future research directions," Research in International Business and Finance, Elsevier, vol. 64(C).
    5. Liu, Dandan & Zhu, Ying & Xie, Xinxin, 2024. "The tangible hand? Does Communist Party involvement in governance promote corporate M&A performance," Finance Research Letters, Elsevier, vol. 61(C).

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