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Corporate governance and bank performance : a joint analysis of the static, selection, and dynamic effects of domestic, foreign, and state ownership, Volume 1
Author:Berger, Allen N.; Clarke, George R. G.; Cull, Robert; Klapper, Leora; Udell, Gregory F.; Country:World; Argentina;
Date Stored:2005/06/14Document Date:2005/06/01
Document Type:Policy Research Working PaperSubTopics:Financial Crisis Management & Restructuring; Banks & Banking Reform; Municipal Financial Management; Financial Intermediation; National Governance
Language:EnglishRegion:The World Region; Latin America & Caribbean
Report Number:WPS3632Collection Title:Policy, Research working paper ; no. WPS 3632
Volume No:1  

Summary: The authors jointly analyze the static, selection, and dynamic effects of domestic, foreign, and state ownership on bank performance. They argue that it is important to include indicators of all the relevant governance effects in the same model. "Nonrobustness" checks (which purposely exclude some indicators) support this argument. Using data from Argentina in the 1990s, their strongest and most robust results concern state ownership. State-owned banks have poor long-term performance (static effect), those undergoing privatization had particularly poor performance beforehand (selection effect), and these banks dramatically improved following privatization (dynamic effect. However, much of the measured improvement is likely due to placing nonperforming loans into residual entities, leaving "good" privatized banks.

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