Aanbevelingen voor eventueel vervolgonderzoek

Eventueel vervolgonderzoek zou kunnen analyseren of andere parameters die de prestaties meten, een verband hebben met factoren die de samenstelling van de raad van commissarissen uitmaken. De nadruk zou daarbij kunnen liggen op de ROE en de ROA (zie paragraaf 2.4).

In dit onderzoek is uitgegaan van het gerealiseerde risico, een a posteriori gegeven. De risicobereidheid van banken – een a priori gegeven - zou in vervolgonderzoek gemeten kunnen worden door dicht bij de bron interviews of wellicht enquetes af te nemen – dus bij de leden van de raad van bestuur en de raad van commissarissen van de banken.

Referenties

Artikelen en boeken

Adams, R., Mehran, H. (2003). Is corporate governance different for bank holding companies? Federal Reserve Bank of New York, Economic Policy Review, April, pp. 123 – 142.

Adams, R., Mehran, H., 2008. Corporate performance, board structure and their

determinants in the banking Industry. Federal Reserve Bank of New York Staff Report No 330.

Adams, R., Ferreira, D., 2009. Women in the boardroom and their impact on governance and performance. Journal of Financial Economics 94(2), pp. 291-309.

de Andres, P. and Vallelado, E. 2008. Corporate governance in banking: The role of the board of directors. Journal of Banking and Finance, 32, pp. 2570-2580.

Becht M., Bolton P., Roell A. 2011. Why bank governance is different.

Oxford Review of Economic Policy, Volume 27, Number 3, 2011, pp. 437–463. Belkhir, M., 2009. Board of directors’ size and performance in the banking industry, International Journal of Managerial Finance (Emerald), vol 5, No.2, pp. 201 – 221. Bijlsma M. en G.T.J. Zwart, 2009. Falende Corporate Governance: Waarom Banken verslaafd zijn aan risico. Maandschrift economie, CPB, Vol. 6. 2009, 4, p. 577-613.

Boone, A. L., Field, L. C., Karpoff, J. M., Raheja, C. G. (2007). The determinants of corporate board size and composition: An empirical analysis. Journal of Financial Economics, 85 (2007), pp. 66–101.

Booth, J. R., Marcia M. C., and Hassan T., 2002. Boards of directors,

ownership, and regulation. Journal of Banking and Finance 26, pp. 1973-1996.

Coffey, B. S., & Wang, J. (1998). Board diversity and managerial control as predictors of corporate social performance. Journal of Business Ethics, 17(14), pp. 1595-1603. COSO (2004), Enterprise Risk Management Integrated Framework Executive Summary Framework. Coso website: http://www.coso.org/documents.

CPB (2013). CPB Risicorapportage Financiële Markten 2013.

Denis, D.K., McConnell, J.J., 2003. International Corporate Governance. Journal of Financial and Quantitative Analysis 38, pp. 1-36.

European Central Bank, Beyond (2010). RoE – How to measure bank performance, Appendix to the report on EU banking structures.

Faleye, O., & Krishnan, K. (2010, July). Risky Lending: Does Bank Corporate Governance Matter? In 23rd Australasian Finance and Banking Conference.

Fama, E.F. (1980). Agency Problems and the Theory of the Firm. Journal of Political Economy, 88, pp. 288-307.

Fama, E. F. and Jensen, M.C.. Separation of Ownership and Control. Michael C. Jensen, FOUNDATIONS OF ORGANIZATIONAL STRATEGY, Harvard University Press, 1998, and Journal of Law and Economics, Vol. 26, June 1983.

Francis, Bill B., Hasan, Iftekhar and Wu, Qiang. Do Corporate Boards Affect Firm

Performance? New Evidence from the Financial Crisis (April 12, 2012). Bank of Finland Research Discussion Paper No. 11/2012.

Freeman, R. E. (1984). Strategic management: A stakeholder approach.

Farrell, K.A. and Hersch, P.L. (2005). Additions to Corporate Boards: The Effect of Gender, Journal of Corporate Finance, 11, pp. 85-106.

Hambrick, D.C. & Mason, P.A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2), 193-106.

Hardie, I. and Howarth, D. 2009. Die Krise but not La Crise? The Financial Crisis and the Transformation of German and French Banking Systems. Journal of Common Market Studies 47(5), pp. 1017-1039.

Hasher & Kim (2005). The attraction effect in decision making: superior performance by older adults.

Hau, H., & Thum, M. (2009). Subprime crisis and board (in‐)competence: private versus public banks in Germany. Economic Policy, 24(60), pp. 701-752.

Haugen, Robert A. (1997). Modern Investment Theory.

Hellwig, M. F. (2009), Februari). Sstemic risk in the financial sector: an analysis. De

economist, pp. 129-207.

Hermalin, B., and M. Weisbach. 1998. Endogenously Chosen Boards of Directors and Their Monitoring of the CEO. American Economic Review 88, pp. 96-118.

Hermalin, B E., and Michael S. W. (2003). Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature. Federal Reserve Bank of New York Economic Policy Review, 9(1), pp. 7–26.

Jensen, M., 1993. The modern industrial revolution, exit and the failure of internal control Systems. Journal of Finance, 48, pp. 831-880.

Commissarissen op de kwaliteit van het RvC-verslag in het jaarrapport. Scriptiebestanden RUG.

Knyazeva, A., Knyazeva, D., & Masulis, R. (2009). Local director talent and board composition. Unpublished working paper.

Leenaars, J.J.A. (2003). Risicomanagement van Banken. Maandblad Voor Accountancy En Bedrijfseconomie, Jul/Aug, p. 340-347.

Lipton, M. and J. W. Lorsch, 1992. A modest proposal for improved corporate governance. Business Lawyer, 1, pp. 59-77.

Milliken, F. J., & Martins, L. L. (1996). Searching for common threads: Understanding the multiple effects of diversity in organizational groups. Academy of Management Review, 21(2), 402-403.

Millet-Reyes, B. and Zhao, R. (2010). A Comparison Between One-Tier and Two-Tier Board Structures in France. Journal of International Financial Management &

Accounting, 21, pp. 279–310.

Pathan, S., 2009. Strong boards, CEO power and bank risk taking. Journal of Banking and Finance 33, pp. 1340-1350.

Minton, B. A., Taillard, J. and Williamson, R.. Do Independence and Financial Expertise of the Board Matter for Risk Taking and Performance? (June 20, 2011). Fisher College of Business Working Paper No. 2010-03-014.

Nederlandse Vereniging van Banken 2009, Code Banken, 2009. Monitoring Commissie Corporate Governance Code 2010.

Monitoring Commissie Corporate Governance Code, tweede rapport over de naleving van de Nederlandse Corporate Governance Code, 2010.

Oonincx, prof. drs J.A.M. (2004); Financieel Zakboek (tweede druk), Reed Business Information, p.470.

O'Sullivan J., Hassan M.K. en Mamun A., 2012. The Relationship between Boards Characteristics and Risk-Taking: Evidence from Bank Holding Companies.

Rabobank Groep. Jaarverslag, 2007.

Scott, W. (2012). Financial Accounting Theory.

Vance S.C. (1964) Board of Directors: Structure and Perfomance. Harvard Business School Press, Boston,

Vishny, R.W. & Shleifer (1997) A.. A Survey of Corporate Governance, Journal of Finance, 52(2), pp. 737–83.

Wang, J. & Coffey, B. S. (1998). Managerial control and diversity as predictors of corporate social performance. Journal of Business Ethics, 17, pp. 1595-1603. Yermack, D. 1996. Higher Market Valuation of Companies with a Small Board of Directors, Journal of Financial Economics, vol. 40, no. 2, pp. 185-211.

Geraadpleegde jaarverslagen Duitse en Franse banken

 Aaeral Bank: 2005, 2006, 2007, 2008  BNP Paribas: 2005, 2006, 2007, 2008  CIC: 2005, 2006, 2007, 2008  Commerzbank: 2005, 2006, 2007, 2008  Credit Agricole: 2005, 2006, 2007, 2008  Deutsche Bank: 2005, 2006, 2007, 2008  Deutsche Postbank: 2005, 2006, 2007, 2008  DVB Bank: 2005, 2006, 2007, 2008  IKB Bank: 2005, 2006, 2007, 2008  Natixis: 2005, 2006, 2007, 2008  Société Générale: 2005, 2006, 2007, 2008 Websites

Nauta Dutilh (2013). Wet Bestuur en Toezicht in werking per 1 januari 2013

Geraadpleegd via: http://www.newsletter-nautadutilh.com/EN/xzine/corporate/one-tier_board_act_entry_into_effect_on_1_january_2013/wet_bestuur_en_toezicht_in_werkin g_per_1_januari_2013/wet_bestuur_en_toezicht_in_werking_per_1_januari_2013.html?ci d=4&xzine_id=4695&aid=13232

Kranten

Daily Mail “Board shake-up at Standard Chartered after bank pays £217 million over claims it hid billion dollar deals with Iran” (18 augustus 2012)

Geraadpleegd via: http://www.dailymail.co.uk/news/article-2190250/Board-shake-Standard-Chartered-bank-pays--217-million-claims-hid-billion-dollar-deals-Iran.html Financieel Dagblad “Adoboli schuldig aan fraude bij UBS” (20 november 2012)

Databases

 Bankscope

 Boardex

 Company.info