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Conference Paper
Board structure, banking firm performance and the bank holding company organizational form
Mehran, Hamid; Adams, Renee B. (2003)
Proceedings , Paper 866

Newsletter
Corporate governance: implications for financial services firms
Darwish, Nisreen; Evanoff, Douglas D.; Brewer, Elijah (2003-12)
Chicago Fed Letter , Issue Dec

Journal Article
A survey of blockholders and corporate control
Holderness, Clifford G. (2003-04)
The author surveys the empirical literature on large-percentage shareholders in public corporations, focusing on four key issues: the prevalence of blockholders; the motivation for block ownership; the effect of blockholders on executive compensation, leverage, the incidence of takeovers, and a wide range of corporate decisions; and the effect of blockholders on firm value. A central finding of this study is that there is little reason for policymakers or small investors to fear large-percentage shareholders in general, especially when the blockholders are active in firm management.
Economic Policy Review , Volume 9 , Issue Apr , Pages 51-64

Report
When is there a strong transfer risk from the sovereigns to the corporates? Property rights gaps and CDS spreads
Bai, Jennie; Wei, Shang-Jin (2012)
When a sovereign faces the risk of debt default, it may be tempted to expropriate the private sector. This may be one reason why international investment in private companies has to take into account the sovereign risk. But the likelihood of sovereign risk transferring to corporates and increasing their risk of default may be mitigated by legal institutions that provide strong property rights protection. Using a novel credit default swaps (CDS) data set covering government and corporate entities across thirty countries, we study both the average strength of the transfer risks and the role of ...
Staff Reports , Paper 579

Speech
Supervisory reform for global banks
Dahlgren, Sarah J. (2013)
Remarks at the Center for Transnational Legal Studies Seminar on the Impact of U.S. Regulatory Reform on Global Banks, New York City.
Speech , Paper 96

Report
Firm value and cross-listings: the impact of stock market prestige
Peristiani, Stavros; Cetorelli, Nicola (2010)
This study investigates the valuation impact of a firm?s decision to cross-list on a more (or less) prestigious stock exchange relative to its own domestic market. We use network analysis to derive broad market-based measures of prestige for forty-five country or regional stock exchange destinations between 1990 and 2006. We find that firms cross-listing in a more prestigious market enjoy significant valuation gains over the five-year period following the listing. We also document a reverse effect for firms cross-listing in less prestigious markets: These firms experience a significant ...
Staff Reports , Paper 474

Conference Paper
Corporate governance : a rational course for public policy
Moskow, Michael H. (2003)
Proceedings , Paper 839

Working Paper
Is auditor independence endogenous: evidence and implications for public policy
Falaschetti, Dino; Orlando, Michael J. (2003-12-01)
This paper examines the extent to which firm-specific levels of auditor-independence are codetermined with alternative inputs to governance production. We identify a number of governance-producing mechanisms that are causally or simultaneously related to auditor independence. These results are shown to be robust to omitted variable bias. Consequently, prescriptive regulation of auditor independence will be at least partly offset by firm adjustments on alternative governance-producing margins. ; Original title: Optimization in production of corporate governance - evidence from auditor ...
Research Working Paper , Paper RWP 03-13

Journal Article
Risk and return of publicly held versus privately owned banks
Kwan, Simon H. (2004-09)
The author divides bank holding companies (BHCs) into four size classes, then categorizes each class according to public or private ownership. He compares the performance and risk across bank size classes between 1986 and 2000 and in five-year windows therein. For the largest BHCs, returns on assets and operating costs do not depend on ownership, but for the smaller BHCs, returns on assets are lower and operating costs are higher for those that are publicly owned. Small public BHCs also hold more capital than do small private ones.
Economic Policy Review , Issue Sep , Pages 97-107

Journal Article
Who’s minding the bank : governance practices at Tenth District institutions
Myers, Forest (2005-07)
TEN , Issue Sum , Pages 22-27

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