Bondholder representatives on bank boards: A means of disciplining the market

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Finance d’Entreprise et Finance de Marché

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We investigate whether bondholder representation on boards can be an effective market discipline mechanism for reducing bank risk, using a unique dataset combining information on bondholders and boards of listed European banks. Our results show that the influence of bondholder representatives on bank boards significantly reduces bank risk without impacting profitability.

Liens et ressources

https://onlinelibrary.wiley.com/doi/10.1111/ecin.13137

Mots clés

Conseil d’administration, Discipline de marché, représentants des détenteurs d'obligations, risque bancaire

Auteur.e(s)

TRAN Phan Huy Hieu
Professeur assistant en Finance
Burgundy School of Business

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