摘要
本文以1996—2005年间美国43家商业银行为样本,实证分析了商业银行董事会治理的特征及其对绩效的影响。研究表明:平均而言,商业银行董事会的规模略大于非金融性企业的这一指标,且外部董事的比例较高;董事会规模与银行绩效之间存在非线性的倒U型曲线关系,但外部董事的比例对银行绩效的影响不显著;董事长与总经理两职合一、董事会次级委员会的数量、外部董事拥有的董事席位数均与银行绩效显著负相关;董事会会议频率对当年度银行绩效的影响不显著,但与前一会计年度的绩效之间存在显著的负相关关系;董事持股比例与银行绩效之间存在非线性的关系,而总经理任职年限对银行绩效的影响不显著。
This paper examines the characteristics of board of directors and its effects on commercial bank performance in U. S. during 1996 - 2005. We find that, on average, board size is larger in commercial banks than that in non financial firms, and an inverted U shaped relation between board size and bank performance; the average ratio of outside directors is higher, but its effects on bank performance is insignificant; board leadership structures where the chairman of board and CEO is separated, is positively related to bank performance, but the numbers of board committees and the board seats hold by outside directors are negatively associated with bank performance; the association between the annual number of board meetings and bank performance is insignificant, but the board meeting frequency is inversely related to prior bank performance; a non-linear relation between the fractions of stock owned by board members and bank performance, and the effect of CEO tenures on bank performance is insignificant.
出处
《金融研究》
CSSCI
北大核心
2008年第7期133-144,共12页
Journal of Financial Research
基金
国家社科基金项目"基于银行业行业特征的商业银行公司治理机制研究"(项目批准号:06BJY107)
教育部"新世纪优秀人才支持计划"项目
武汉大学国家"985"创新研究基地项目子课题的资助
关键词
商业银行
董事会
公司治理
银行绩效
commercial banks
board of directors
corporate governance
bank performance
