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Effective governance, financial markets, financial institutions & crises

Balasingham Balachandran and Barry Williams

Pacific-Basin Finance Journal, 2018, vol. 50, issue C, 1-15

Abstract: This paper extends the work of Balachandran and Faff (2015) and reviews the literature on effective governance, financial markets, institutions, and crises. Specifically, we discuss the various monitoring mechanisms including independent directors, institutional investors, market for corporate control, and their effect on value creation. We further explore the important connection between the role of financial institutions as delegated monitors and the associated issues of bank governance, bank capital and systemic risk. Finally, our paper encompasses and highlights the papers featured in this special issue on the theme “Financial Markets, Institutions, governance and Crises”.

Keywords: Governance; Monitoring; Executive incentive; Firm value (search for similar items in EconPapers)
JEL-codes: G32 G34 (search for similar items in EconPapers)
Date: 2018
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