Board of directors' configurations and the performance of banks: lessons learned from the global financial crisis

Nicola Cucari, Michele Simoni and Antonio Renzi

International Journal of Business Governance and Ethics, 2023, vol. 17, issue 3, 223-245

Abstract: Our paper analyses the characteristics of the boards of directors of the best performing listed Italian banks during the last global financial crisis (from 2008 to 2015). Through a fuzzy-set qualitative comparative analysis (fsQCA), the study identifies three different board configurations (archetypes) that these banks adopted: a committee-based board, a gender diversity-based board, and a large size-based board. Although different in some of their characteristics, these configurations share the rationale of favouring the advisory services that the board can provide to managers in their decision-making activities. These services, in turn, are particularly valuable in a time of high risk and uncertainty for banks. With its results, the paper contributes to the literature on the relationship between board characteristics and organisational performance and to a better understanding of the configurations that can best serve when firms' decision-making, for various reasons, becomes particularly complex and can benefit from board support. Our results also contribute to further detail the governance characteristics of banks in the Italian context.

Keywords: board of directors; board role; financial performance; bank governance; qualitative comparative analysis. (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbget:v:17:y:2023:i:3:p:223-245

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