The Role of Foreign Banks in Corporate Governance in European Emerging Market Economies

• Autorzy: Tadeusz Kowalski , Evan Kraft , Andrew Mullineux , Clas Wihlborg
• Języki publikacji: EN

Abstrakty

EN

Foreign banks have played an important role in restructuring banking sectors in the European emerging market economies (EEMEs). However this role has been a controversial issue in the EEMEs. In this paper we focus on the potential impact of foreign banks on corporate governance in the indigenous banking sector, as well as on the corporate governance of non- financial firms. After summarizing current literature on the issue we present findings on the influence of foreign banks on the governance of domestic banks. Thereafter we study the credit policies of foreign banks, and the involvement of these banks in the corporate governance of non-financial firms. Lastly we seek to explain these aspects of the behavior of foreign banks relative to clients using quantitative measures describing the governance of foreign banks' operations in the EEMEs, and regulatory characteristics of the countries. Most of the data that will be used in this study will come from responses to questionnaires that have been sent to banks in Croatia, Estonia, Lithuania, Poland, and Rumania. (original abstract)

Słowa kluczowe

EN

Foreign bank; Banking sector; Financial institutions; Crediting policy; Bank management

PL

Banki zagraniczne; Sektor bankowy; Instytucje finansowe; Polityka kredytowa; Zarządzanie bankiem

• Czasopismo: Raporty. Opracowania. Referaty / Akademia Ekonomiczna w Poznaniu
• Rocznik: 2002
• Numer: nr 20 Foreign Banks and Economic Transition: Papers in Progress
• Strony: 147--156

Twórcy

autor

Tadeusz Kowalski

• Poznań University of Economics, Poland

autor

Evan Kraft

• National Bank of Croatia

autor

Andrew Mullineux

• University of Birmingham, United Kingdom

autor

Clas Wihlborg

• Copenhagen Business School

Bibliografia

• M. Albert (1991, French edition). Capitalism Against Capitalism, (English edition 1993, reprinted 1994). Whurr Publishers, London.
• H. Boi, J. de Haan (2002). Survey of the literature on foreign banks and economic transition. Central and east European countries, in R. Lensink, T. Kowalski and V. Vensel eds, Foreign Banks in Transition Economies, Papers in Progress, The Poznan University of Economics Working Papers.
• S. Bozsik and Ch. W. Neal (2000). The privatisation of the Hungarian state-owned banks, chapter 5 in T. Kowalski and S. Letza eds., Financial Reform and Institutions, Wydawnictwo Akademii Ekonomicznej w Poznaniu, Poznan 2000, pp. 83-113.
• D.W. Diamond (1984). Financial intermediation and delegated monitoring, Review of Economic Studies, 51, pp. 393-414.
• P. Dittus (1994). Corporate governance in central Europe: The role of banks, BIS Economic Papers, No. 42 - August.
• S. Gangopadhyay and C. Wihlborg (2001). Infrastructure requirements in the area of bankruptcy law, in Brookings-Wharton Papers on Financial Services.
• G.M.M. Gelauff and C. den Broeder (1997). Governance of stakeholder relationships. The German and Dutch experience, SUERF Studies, No. 1.
• G. Fink and P. Haiss (1998). Seven years of financial market reform in central Europe, in corporate governance in central and Eastern Europe. Transition management is a tough job, SEURF Studies, No. 3, pp. 57-95.
• M. Fukao (1995). Financial Integration, Corporate Governance, and the Performance of International Companies, The Brookings Institution, Washington D C.
• R. de Haas, I. Van Lelyveld (2002). Foreign banks in central and eastern Europe. How important are they, in R. Lensink, T. Kowalski and V. Vensel eds. Foreign Banks in Transition Economies, Papers in Progress, The Poznan University of Economics Working Papers.
• N. Hermes and R. Lensink (2002). The impact of foreign bank entry on domestic banks in LDCs: An econometric analysis, in R. Lensink, T. Kowalski and V. Vensel eds, Foreign Banks in Transition Economies, Papers in Progress, The Poznan University of Economics Working Papers.
• A. Janc, T. Kowalski (1996). Kontrakty finansowe i współzależności w sektorze małych przedsiębiorstw w Polsce: wyniki badań ankietowych, in Reformy finansowe w krajach tworzących gospodarkę rynkową. Modele i badania empiryczne, A. Janc, T. Kowalski eds., Wydawnictwo Akademii Ekonomiczej w Poznaniu, Poznan pp. 127-156.
• T. Kowalski (2000). The banking law of August 29, 1997 vs. efficiency and stability of the Polish banking sector, Chapter 2 in T. Kowalski and S. Letza eds., Financial Reform and Institutions, Wydawnictwo Akademii Ekonomicznej w Poznaniu, Poznan, pp. 23-45.
• T. Kowalski, D. Staniszewska and C. Wihlborg (1999). Institutional and macroeconomic developments and operational efficiency of commercial Banks in Poland in 1994-1997, in Ch. Green, T. Kowalski and R. Lensink eds., Proceedings of the ACE/PHARE Conference on Building Financial Institutions in Transition Economies, The Poznan University of Economics, Poznan.
• T. Kowalski, A. Jane (1999). Financial contract and relations in the small and medium sized enterprises sector in Poland, in Economic Performance and Financial Sector Reform in Central and Eastern Europe: capital Flows, bank and Enterprise Restructuring, edited by Ch. Green and A. Mullineux, Edward Elgar 1999, pp. 351-374.
• A. Mullineux, V. Murinde (2002). The Globalisation of Banking, chapter 1 in A. Mullineux and V. Murinde eds. Handbook of International Banking, forthcoming, Edward Elgar, Gloucester.
• V. Murinde, J. Agung, A. Mullineux (1999). Convergence of European financial systems: Banks or equity markets?, chapter 7 (pp. 129-142) in M.M. Fisher and P. Nijkamp, eds., Spatial Dynamics of European Integration, Springer, Berlin.
• M.A. O'Sullivan (2000). Contests for Corporate Control: Corporate Governance and Economic Performance in the United States and Germany, Oxford University Press, Oxford.
• S. Provvse (1994). Corporate Governance in an International Perspective: A Survey of Corporate control and Mechanisms Among Large Firms in the United States, the United Kingdom, Japan and Germany, BIS Economic Papers, No. 41 - July.
• R. Rajan and Zingales (1997). The International Evidence on Capital Structure, Journal of Finance.
• D. Revoltella (1998). Financing Finns in East European Countries: An Asymmetric Information and Agency Costs Approach, in Corporate Governance in Central and Eastern Europe. Transition Management is a Tough Job, SEURF Studies, No. 3, pp. 9-50.
• T. Rybczyński (1986). Industrial Finance System in Europe, U.S. and Japan, in R.H. Day and G. Elliansson eds., The Dynamics of Market Economies, North-Holland Amsterdam and Oxford, pp. 385-396.
• T. Rybczyński (1991). The Sequencing of Reforms, Oxford Review of Economic Policy, Winter, 7(4), pp. 26-34.
• Zingales (2001). Infrastructure Requirements in the Area of Corporate Governance, Brookings- Wharton papers on Financial Services.