Ownership structure and risk at Colombian banks
The separation between ownership and the control of capital in banks generates differences in the preferences for risk among shareholders and the manager. These differences could imply a corporate governance problem in banks with a dispersed ownership, since owners fail to exert control in the alloc...
- Autores:
- Tipo de recurso:
- Fecha de publicación:
- 2011
- Institución:
- Universidad del Rosario
- Repositorio:
- Repositorio EdocUR - U. Rosario
- Idioma:
- spa
- OAI Identifier:
- oai:repository.urosario.edu.co:10336/10822
- Acceso en línea:
- https://doi.org/10.48713/10336_10822
http://repository.urosario.edu.co/handle/10336/10822
- Palabra clave:
- Economía financiera
corporate governance
banking risk
Corporaciones financieras
Evaluación de riesgos
Bancos comerciales
- Rights
- License
- http://purl.org/coar/access_right/c_abf2
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Ownership structure and risk at Colombian banksEconomía financieracorporate governancebanking riskCorporaciones financierasEvaluación de riesgosBancos comercialesThe separation between ownership and the control of capital in banks generates differences in the preferences for risk among shareholders and the manager. These differences could imply a corporate governance problem in banks with a dispersed ownership, since owners fail to exert control in the allocation of capital. In this paper we examine the relationship between the ownership structure and risk for Colombian banks. Our results suggest that a high ownership concentration leads to higher levels of risk.Universidad del RosarioFacultad de Economía20112015-09-18T14:25:37Zinfo:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_804212 páginasRecurso electrónicoapplication/pdfDocumentoMartínez, C., & Ramírez, M. (2011). Ownership structure and risk at Colombian banks. Bogotá: Universidad del Rosario.https://doi.org/10.48713/10336_10822 Universidad del Rosariohttp://repository.urosario.edu.co/handle/10336/10822Anderson R., and Fraser D. (2000) “Corporate control, bank risk taking, and the health of the banking industry” Journal of Banking and Finance 24, 1383 - 1398Boyd J., and De Nicoló G. (2005) “The theory of bank risk taking and competition revisited” Journal of Finance, Vol. 60, 1329 - 1343Boyd J., De Nicoló G., and Jalal A. (2006) “The theory of bank risk taking and competition revisited: New Theory and New Evidence” IMF Working Paper 297Boyd J., and Runkle D. (1993) “Size and Performance of Banking Firms” Journal of Monetary Economics 31Caprio G., and Levine R. (2002) “Corporate governance in Finance: concepts and international observations” paper prepared for the 2002 World Bank, IMF and Brookings institution conferenceCaprio G., Laeven L., and Levine R. (2007) “Governance and bank valuation” Journal of Financial Intermediation 16, 584 – 617Chumacero R., and Langoni P. (2001) “Riesgo, Tamaño y Concentración en el sistema Bancario Chileno” Vol. 4 , No. 1, Economía Chilena, Banco Central de ChileDemsetz R., and Strahan P. (1997) “Diversification, size and risk at Bank holding companies” Journal of Money Credit and Banking 29, 300 - 313Demsetz R., Saidenberg M., and Strahan P. (1997) “Agency problems and risk taking at banks” Federal Reserve Bank of New York, Research paper No, 9709De Nicoló G., and Loukoianova E. (2007) “Bank ownership, Market structure and risk” IMF Working Paper 215García T., and Robles M. (2008) “Risk-taking behaviour and ownership in the banking industry: The Spanish evidence” Journal of Economics and Business 60, 332 – 354Laeven L., and Levine R. (2009) “Bank governance, regulation and risk taking” Journal of Financial Economics 93, 259-275Saunders A., Strock E., and Travlos N. (1990) “Ownership structure, Deregulation and Bank risk taking” The Journal of Finance 45, 643 - 654instname:Universidad del Rosarioinstname:Universidad del Rosarioreponame:Repositorio Institucional EdocURspahttps://ideas.repec.org/p/col/000092/008016.htmlhttp://purl.org/coar/access_right/c_abf2Martínez, ConstanzaRamírez Gómez, Manueloai:repository.urosario.edu.co:10336/108222021-06-03T00:46:35Z |
| dc.title.none.fl_str_mv |
Ownership structure and risk at Colombian banks |
| title |
Ownership structure and risk at Colombian banks |
| spellingShingle |
Ownership structure and risk at Colombian banks Economía financiera corporate governance banking risk Corporaciones financieras Evaluación de riesgos Bancos comerciales |
| title_short |
Ownership structure and risk at Colombian banks |
| title_full |
Ownership structure and risk at Colombian banks |
| title_fullStr |
Ownership structure and risk at Colombian banks |
| title_full_unstemmed |
Ownership structure and risk at Colombian banks |
| title_sort |
Ownership structure and risk at Colombian banks |
| dc.subject.none.fl_str_mv |
Economía financiera corporate governance banking risk Corporaciones financieras Evaluación de riesgos Bancos comerciales |
| topic |
Economía financiera corporate governance banking risk Corporaciones financieras Evaluación de riesgos Bancos comerciales |
| description |
The separation between ownership and the control of capital in banks generates differences in the preferences for risk among shareholders and the manager. These differences could imply a corporate governance problem in banks with a dispersed ownership, since owners fail to exert control in the allocation of capital. In this paper we examine the relationship between the ownership structure and risk for Colombian banks. Our results suggest that a high ownership concentration leads to higher levels of risk. |
| publishDate |
2011 |
| dc.date.none.fl_str_mv |
2011 2015-09-18T14:25:37Z |
| dc.type.none.fl_str_mv |
info:eu-repo/semantics/workingPaper |
| dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_8042 |
| dc.identifier.none.fl_str_mv |
Martínez, C., & Ramírez, M. (2011). Ownership structure and risk at Colombian banks. Bogotá: Universidad del Rosario. https://doi.org/10.48713/10336_10822 Universidad del Rosario http://repository.urosario.edu.co/handle/10336/10822 |
| identifier_str_mv |
Martínez, C., & Ramírez, M. (2011). Ownership structure and risk at Colombian banks. Bogotá: Universidad del Rosario. Universidad del Rosario |
| url |
https://doi.org/10.48713/10336_10822 http://repository.urosario.edu.co/handle/10336/10822 |
| dc.language.none.fl_str_mv |
spa |
| language |
spa |
| dc.relation.none.fl_str_mv |
https://ideas.repec.org/p/col/000092/008016.html |
| dc.rights.coar.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
| rights_invalid_str_mv |
http://purl.org/coar/access_right/c_abf2 |
| dc.format.none.fl_str_mv |
12 páginas Recurso electrónico application/pdf Documento |
| dc.publisher.none.fl_str_mv |
Universidad del Rosario Facultad de Economía |
| publisher.none.fl_str_mv |
Universidad del Rosario Facultad de Economía |
| dc.source.none.fl_str_mv |
Anderson R., and Fraser D. (2000) “Corporate control, bank risk taking, and the health of the banking industry” Journal of Banking and Finance 24, 1383 - 1398 Boyd J., and De Nicoló G. (2005) “The theory of bank risk taking and competition revisited” Journal of Finance, Vol. 60, 1329 - 1343 Boyd J., De Nicoló G., and Jalal A. (2006) “The theory of bank risk taking and competition revisited: New Theory and New Evidence” IMF Working Paper 297 Boyd J., and Runkle D. (1993) “Size and Performance of Banking Firms” Journal of Monetary Economics 31 Caprio G., and Levine R. (2002) “Corporate governance in Finance: concepts and international observations” paper prepared for the 2002 World Bank, IMF and Brookings institution conference Caprio G., Laeven L., and Levine R. (2007) “Governance and bank valuation” Journal of Financial Intermediation 16, 584 – 617 Chumacero R., and Langoni P. (2001) “Riesgo, Tamaño y Concentración en el sistema Bancario Chileno” Vol. 4 , No. 1, Economía Chilena, Banco Central de Chile Demsetz R., and Strahan P. (1997) “Diversification, size and risk at Bank holding companies” Journal of Money Credit and Banking 29, 300 - 313 Demsetz R., Saidenberg M., and Strahan P. (1997) “Agency problems and risk taking at banks” Federal Reserve Bank of New York, Research paper No, 9709 De Nicoló G., and Loukoianova E. (2007) “Bank ownership, Market structure and risk” IMF Working Paper 215 García T., and Robles M. (2008) “Risk-taking behaviour and ownership in the banking industry: The Spanish evidence” Journal of Economics and Business 60, 332 – 354 Laeven L., and Levine R. (2009) “Bank governance, regulation and risk taking” Journal of Financial Economics 93, 259-275 Saunders A., Strock E., and Travlos N. (1990) “Ownership structure, Deregulation and Bank risk taking” The Journal of Finance 45, 643 - 654 instname:Universidad del Rosario instname:Universidad del Rosario reponame:Repositorio Institucional EdocUR |
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