Access the full text.
Sign up today, get DeepDyve free for 14 days.
(1998)
JEL Classification:
G. Mortlock (1996)
Banking supervision: placing a new emphasis on the role of bank directorsReserve Bank of New Zealand Bulletin, 59
G. Mortlock (2003)
New Zealand's financial sector regulationReserve Bank of New Zealand Bulletin, 66
M. Guillén, A. Tschoegl (1999)
At Last the Internationalization of Retail Banking? The Case of the Spanish Banks in Latin AmericaInternational Political Economy: Investment & Finance eJournal
C. Goodhart, P. Hartmann, D. Llewellyn, L. Rojas-Suárez, S. Weisbrod (1998)
Financial Regulation: Why, How and Where Now?
N. Quigley, L. Evans (2002)
An Analysis of the Reserve Bank of New Zealand's Policy on the Incorporation of Foreign Banks
D. Llewellyn, D. Mayes (2003)
The Role of Market Discipline in Handling Problem BanksOrganizations & Markets eJournal
M. McIntyre, Steven Murphy, P. Mitchell (2007)
The top team: examining board composition and firm performanceCorporate Governance, 7
L. Goldberg, Jennifer Crystal, B. Dages (2002)
Has Foreign Bank Entry Led to Sounder Banks in Latin America?Latin American Economics
Huong To, D. Tripe (2002)
Factors influencing the performance of foreign-owned banks in New ZealandJournal of International Financial Markets, Institutions and Money, 12
R. Levine (1999)
Financial Development and Economic Growth: Views and Agenda
(2000)
Foreign and Domestic Bank Participation in Emerging Markets: Lessons from Mexico and Argentina
G. Mortlock (1996)
New disclosure regime for registered banksReserve Bank of New Zealand Bulletin, 59
M. Jensen (1993)
The Modern Industrial Revolution, Exit, and the Failure of Internal Control SystemsCGA: Governance & Internal Control Systems (Topic)
Steven Murphy, M. McIntyre (2007)
Board of director performance: a group dynamics perspectiveCorporate Governance, 7
C. Vries (2005)
The simple economics of bank fragilityWO Research Memoranda
Purpose – The purpose of this paper is to present competing theories that argue: that boards of directors of locally incorporated subsidiaries of trans‐national entities contribute positively to local operations; and that locally constituted boards are an unnecessary expense and can confound the governance efforts of the trans‐national entities' boards of directors. Design/methodology/approach – The relative merits of the competing theories are considered by examining whether a small sample of trans‐national entities choose to limit the role of their boards to the local regulator's minimum requirements, or to voluntarily exceed them. Findings – The paper finds that in all cases board construction meets the local regulator's requirements, but in some cases, trans‐national entities have chosen to exceed minimum requirements, suggesting that in some cases a well constructed local board can make a positive contribution to local operations. Research limitations/implications – This research is limited by the fact that it considers one sector (banking) in one jurisdiction (New Zealand). Future research could consider other sectors and locations. Practical implications – The results in this paper suggest that there is latitude for regulators to expect more of local boards than is currently the case. Moreover, there is no conclusive empirical support for the argument that a local board is an unnecessary expense and might confound the governance initiatives of a parent company. Originality/value – To the best of the authors' knowledge, this is the first paper to empirically examine the two competing theories of locally constructed boards of directors set out above. It is of interest to regulators and others considering the role of local boards of directors.
Corporate Governance – Emerald Publishing
Published: Oct 16, 2009
Keywords: Boards of Directors; Governance; Banking; Regulation; New Zealand
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.