当前位置: X-MOL 学术International Review of Financial Analysis › 论文详情
Our official English website, www.x-mol.net, welcomes your feedback! (Note: you will need to create a separate account there.)
Board gender diversity, power, and bank risk taking
International Review of Financial Analysis ( IF 8.235 ) Pub Date : 2021-03-10 , DOI: 10.1016/j.irfa.2021.101733
Heba Abou-El-Sood

Having female board members brings ethical/societal perspectives and new resources to decision making. However, there is lack of evidence on whether it mitigates bank excessive risk-taking; hence, this paper addresses this question. It complements the normative corporate governance literature by combining agency theory and approach/inhibition theory of power from social psychology. For a sample of 195 U.S. commercial banks during 2002–2018, banks invest in more risky assets when female directors perceive the positive rewards of risky investments (in banks that have larger regulatory capital ratios and/or are well-capitalized) and when power shifts away due to CEO equity ownership. On the other hand, banks invest in less risky positions when female directors perceive the penalties inherent in a risky investment during the financial crisis. This paper provides novel evidence on the effect of gender diversity, as a governance mechanism, on risk taking in a social-psychology context. It offers insights on the effect of gender diversity on bank riskiness.



中文翻译:

董事会性别多元化,权力和银行风险承担

拥有女性董事会成员可为决策提供道德/社会观点和新资源。但是,缺乏证据表明它是否可以减轻银行的过度冒险行为;因此,本文解决了这个问题。它通过结合代理理论和社会心理学的权力方法/抑制理论,对规范的公司治理文献进行了补充。以2002-2018年间195家美国商业银行为样本,当女性董事感知到风险投资的积极回报(在监管资本比率较大和/或资本充足的银行中)且权力转移时,银行投资于风险较高的资产因首席执行官股权而离开。另一方面,当女性董事意识到金融危机期间风险投资固有的惩罚时,银行投资于风险较小的头寸。本文提供了一种新的证据,说明社会心理学背景下性别多样性作为一种治理机制对冒险的影响。它提供了有关性别多样性对银行风险的影响的见解。

更新日期:2021-03-22
down
wechat
bug