Corporate Governance and Banks: What Have We Learned From the Financial Crisis?

Mehran, Hamid, Morrison, Alan and Shapiro, Joel (2012) Corporate Governance and Banks: What Have We Learned From the Financial Crisis? In: Dewatripont, M and Freixas, Xavier, (eds.) The Crisis Aftermath: New Regulatory Paradigms. Centre for Economic Policy Research, London, pp. 11-44. ISBN 9781907142512

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Abstract

The current crisis and its high social cost have shattered the confidence of economic agents in the banking system and questioned the capacity of financial markets to channel resources to their best use. While it is essential for the well functioning of economic activity that financial institutions do take risk, the decisions taken by financial intermediaries have proven ex post to be excessively risky. So, what was wrong with financial regulation? How were overoptimistic expectations, short termism and inaccurate risk models implicitly encouraged? This book is devoted to exploring the general issue of the origins of excessive risk-taking in the banking industry. In doing so, it will provide the analytical ammunition required to rigorously examine regulatory policy at a time when it is undergoing a complete metamorphosis.

Item Type: Book Section
Keywords: corporate governance; financial institutions; economic crisis; finance
Subject(s): Corporate reputation
Finance
Centre: Oxford University Centre for Corporate Reputation
Date Deposited: 01 Mar 2012 16:25
Last Modified: 19 Sep 2018 09:13
Funders: N/A
URI: http://eureka.sbs.ox.ac.uk/id/eprint/1700

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