scholarly journals The Role of Bank Management in the EU Resolution Regime for NPLs

2020 ◽  
Vol 6 (2) ◽  
pp. 204-232
Author(s):  
Andreas Kokkinis ◽  
Andrea Miglionico
Keyword(s):  
Corporate Governance ◽  
Global Financial Crisis ◽  
Regulatory Oversight ◽  
Bank Management ◽  
Monitoring Tools ◽  
Perverse Incentives ◽  
Regulatory Measures ◽  
The Global Financial Crisis ◽  
The Eu

ABSTRACT During the global financial crisis, the growth of non-performing loans (NPLs) was partly a consequence of lack of regulatory oversight and poor bank internal processes. NPLs require intrusive monitoring tools and effective corporate governance is crucial in dealing with the deterioration of loans; however, perverse incentives to delay their recognition leave the process at risk. The EU legislation has adopted a set of regulatory measures to resolve and restructure non-performing exposures. While existing literature approaches NPLs from a regulatory and accounting perspective, this article takes a distinctive corporate governance view in order to conceptualize the NPL problem. The strategies through which senior management and shareholder incentives may undermine regulatory objectives on NPL disclosure are identified and an evidence-based approach to reconsidering and settling these problems is advanced.

19. Policy-Making in a Time of Crisis Trends and Challenges

2017 ◽  
Author(s):  
Mark A. Pollack ◽  
Helen Wallace ◽  
Alasdair R. Young
Keyword(s):  
Policy Making ◽  
Global Financial Crisis ◽  
Domestic Institutions ◽  
European Union Policy ◽  
Member States ◽  
Eu Policy ◽  
Union Policy ◽  
The Global Financial Crisis ◽  
The Eu

This chapter examines trends and challenges in European Union policy-making during times of crisis. It first considers the main trends in EU policy-making that emerge from policy case studies, including experimentation with new modes of policy-making, often in conjunction with more established modes, leading to hybridization; renegotiation of the role of the member states (and their domestic institutions) in the EU policy process; and erosion of traditional boundaries between internal and external policies. The chapter proceeds by discussing the issue of national governance as well as the interaction between European and global governance. Finally, it explores how the EU has responded to the challenges of coping with enlargement from fifteen to twenty-eight member states, digesting the reforms adopted following the implementation of the Treaty of Lisbon, and responding to the economic dislocation associated with the global financial crisis.

scholarly journals ESG Performance and Shareholder Value Creation in the Banking Industry: International Differences

2019 ◽  
Vol 11 (5) ◽  
pp. 1404 ◽  
Author(s):  
María Miralles-Quirós ◽  
José Miralles-Quirós ◽  
Jesús Redondo Hernández
Keyword(s):  
Corporate Governance ◽  
Value Creation ◽  
Global Financial Crisis ◽  
Banking Industry ◽  
Shareholder Value ◽  
Geographic Area ◽  
Socially Responsible ◽  
The Global Financial Crisis ◽  
The Relationship

The aim of this paper is to study the role of socially responsible activities on shareholder value creation in a sample of 166 banks from 31 countries over the 2010–2015 period. Prior research about this relationship is scarce and limited to the period before and during the global financial crisis. In contrast, this research analyzes banks over a period of time when these institutions have increased their social responsibility practices in order to reinforce their credibility and the trust their stakeholders have in them. More precisely, we analyze the relationship between these two magnitudes distinguishing between environmental, social, and corporate governance actions as well as between countries taking into account the level of development, legal systems, and the geographic area. Our findings are relevant not only for academics, but also for the managers of these companies, policymakers, investors, and society in general.

scholarly journals Steering capital: the growing private authority of index providers in the age of passive asset management

2019 ◽  
Author(s):  
Johannes Petry ◽  
Jan Fichtner ◽  
Eelke Heemskerk
Keyword(s):  
Corporate Governance ◽  
Asset Management ◽  
Global Financial Crisis ◽  
Primary Source ◽  
Economic Policies ◽  
Index Funds ◽  
Economic Role ◽  
Private Authority ◽  
The Global Financial Crisis

Since the global financial crisis, there is a massive shift of assets towards index funds. Rather than picking stocks, index funds replicate stock indices such as the S&P 500. But where do these indices actually come from? This paper analyzes the politico-economic role of index providers, a small group of highly profitable firms including MSCI, S&P DJI, and FTSE Russell, and develops a research agenda from an IPE perspective. We argue that these index providers have become actors that exercise growing private authority as they steer investments through the indices they create and maintain. While technical expertise is a precondition, their brand is the primary source of index provider authority, which is entrenched through network externalities. Rather than a purely technical exercise, constructing indices is inherently political. Which companies or countries are included into an index or excluded (i.e. receive investment in- or outflows) is based on criteria defined by index providers, thereby setting standards for corporate governance and investor access. Hence, in this new age of passive asset management index providers are becoming gatekeepers that exert de facto regulatory power and thus may have important effects on corporate governance and the economic policies of countries.

Financial Supervisory and Regulatory Reform of the EU after the Global Financial Crisis

2013 ◽  
Author(s):  
Yoo-Duk Kang ◽  
Kyuntae Kim ◽  
Tae Hyun Oh ◽  
Cheol-Won Lee ◽  
Hyun Jean Lee ◽  
...  
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Regulatory Reform ◽  
The Global Financial Crisis ◽  
The Eu
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