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Cited by 1,202

The DOI matches its Crossref record; 76 of the 76 references it cites were found in a registry or an index.

Corporate governance in the 2007–2008 financial crisis: Evidence from financial institutions worldwide

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Erkens, David H., Hung, Mingyi, Matos, Pedro·2012·Journal of Corporate Finance
DOI 10.1016/j.jcorpfin.2012.01.005
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Abstract

This paper investigates the influence of corporate governance on financial firms' performance during the 2007–2008 financial crisis. Using a unique dataset of 296 financial firms from 30 countries that were at the center of the crisis, we find that firms with more independent boards and higher institutional ownership experienced worse stock returns during the crisis period. Further exploration suggests that this is because (1) firms with higher institutional ownership took more risk prior to the crisis, which resulted in larger shareholder losses during the crisis period, and (2) firms with more independent boards raised more equity capital during the crisis, which led to a wealth transfer from existing shareholders to debtholders. Overall, our findings add to the literature by examining the corporate governance determinants of financial firms' performance during the 2007–2008 crisis.

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Metadata

Authors
Erkens, D. H., Hung, M., & Matos, P.
Venue
Journal of Corporate Finance
Publisher
Elsevier BV
Published
2012-04
Volume
18
Issue
2
Pages
389-411
ISSN
0929-1199 (ISSN-L)
DOI
10.1016/j.jcorpfin.2012.01.005
OpenAlex
W2100116030
Cited by
1,202
References
76
FWCI
377.16
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Corporate governance in the 2007–2008 financial crisis: Evidence from financial institutions worldwide. https://app.cochat.ai/papers/10.1016/j.jcorpfin.2012.01.005
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Erkens, D. H., Hung, M., & Matos, P. (2012). Corporate governance in the 2007–2008 financial crisis: Evidence from financial institutions worldwide. Journal of Corporate Finance. https://doi.org/10.1016/j.jcorpfin.2012.01.005

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.