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Incentives to Improve the Corporate Governance of Risk in Financial Institutions

In: Research Handbook on International Banking and Governance

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  • Richard J. Herring

Abstract

The contributors – top international scholars from finance, law and business – explore the role of governance, both internal and external, in explaining risk-taking and other aspects of the behavior of financial institutions. Additionally, they discuss market and policy features affecting objectives and quality of governance. The chapters provide in-depth analysis of factors such as: ownership, efficiency and stability; market discipline; compensation and performance; social responsibility; and governance in non-bank financial institutions. Only through this kind of rigorous examination can one hope to implement the financial reforms necessary and sufficient to reduce the likelihood and severity of future crises.

Suggested Citation

  • Richard J. Herring, 2012. "Incentives to Improve the Corporate Governance of Risk in Financial Institutions," Chapters, in: James R. Barth & Chen Lin & Clas Wihlborg (ed.), Research Handbook on International Banking and Governance, chapter 16, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14045_16
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    References listed on IDEAS

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    1. Herring, Richard J., 2010. "Wind-Down Plans As an Alternative to Bailouts: The Cross-Border Challenges," Working Papers 10-08, University of Pennsylvania, Wharton School, Weiss Center.
    2. James R. Barth & Chen Lin & Clas Wihlborg (ed.), 2012. "Research Handbook on International Banking and Governance," Books, Edward Elgar Publishing, number 14045.
    3. Guttentag, Jack & Herring, Richard, 1984. "Credit Rationing and Financial Disorder," Journal of Finance, American Finance Association, vol. 39(5), pages 1359-1382, December.
    4. Grant Kirkpatrick, 2009. "The corporate governance lessons from the financial crisis," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2009(1), pages 61-87.
    5. Carola Frydman & Raven E. Saks, 2010. "Executive Compensation: A New View from a Long-Term Perspective, 1936--2005," The Review of Financial Studies, Society for Financial Studies, vol. 23(5), pages 2099-2138.
    6. Avgouleas, Emilios & Goodhart, Charles & Schoenmaker, Dirk, 2010. "Living Wills as a Catalyst for Action," Working Papers 10-09, University of Pennsylvania, Wharton School, Weiss Center.
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