Skip to main content
Top
Published in: Economic Change and Restructuring 4/2023

19-04-2023

Stability versus soundness: what matters for women central bank governors?

Author: Saibal Ghosh

Published in: Economic Change and Restructuring | Issue 4/2023

Log in

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

Using cross-country data, the paper examines the influence of women central bank governors (WCBGs) on bank soundness and stability. The evidence appears to suggest that WCBGs are more concerned with stability and less towards soundness. This response differs across advanced and emerging economies. We undertake a wide set of robustness checks and continue to find evidence in support of these findings.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Footnotes
1
The classification of countries as advanced and EMDEs is based on IMF (2019).
 
2
The updated database on central bank governors obtained from the website [https://​kof.​ethz.​ch/​en/​data/​data-on-central-bank-governors.​html.
 
Literature
go back to reference Adams R, and Ferreira D (2009b) Women in the boardroom Adams R, and Ferreira D (2009b) Women in the boardroom
go back to reference Adams RB, Ferreira D (2009) Women in the boardroom and their impact on governance and performance. Financ Econ 94(2):291–309CrossRef Adams RB, Ferreira D (2009) Women in the boardroom and their impact on governance and performance. Financ Econ 94(2):291–309CrossRef
go back to reference Adams R, Ferreira D (2009a) Women in the boardroom and their impact on governance and performance. J Financ Econ 94:291–309CrossRef Adams R, Ferreira D (2009a) Women in the boardroom and their impact on governance and performance. J Financ Econ 94:291–309CrossRef
go back to reference Adhikari BK, Agrawal A (2016) Does local religiosity matter for bank risk-taking? J Corp Finan 38:272–293CrossRef Adhikari BK, Agrawal A (2016) Does local religiosity matter for bank risk-taking? J Corp Finan 38:272–293CrossRef
go back to reference Adolph C (2013) Bankers, Bureaucrats and Central Bank Politics: The Myth of Neutrality. Cambridge University Press, CambridgeCrossRef Adolph C (2013) Bankers, Bureaucrats and Central Bank Politics: The Myth of Neutrality. Cambridge University Press, CambridgeCrossRef
go back to reference Agbloyor E, Abor J, Adjasi C, Yawson A (2013) Exploring the causality links between financial markets and foreign direct investment in Africa. Res Int Bus Financ 28:118–134CrossRef Agbloyor E, Abor J, Adjasi C, Yawson A (2013) Exploring the causality links between financial markets and foreign direct investment in Africa. Res Int Bus Financ 28:118–134CrossRef
go back to reference Allen F, Demirguc-Kunt A, Klapper L, Peria MSM (2016) The foundations of financial inclusion: understanding ownership and use of formal accounts. J Financ Int 27:1–30 Allen F, Demirguc-Kunt A, Klapper L, Peria MSM (2016) The foundations of financial inclusion: understanding ownership and use of formal accounts. J Financ Int 27:1–30
go back to reference Ashraf BN (2017) Political institutions and bank risk-taking behaviour. J Financ Stab 29:13–35CrossRef Ashraf BN (2017) Political institutions and bank risk-taking behaviour. J Financ Stab 29:13–35CrossRef
go back to reference Athanasoglou PP, Brissimis SN, Delis MD (2008) Bank-specific, industry-specific and macroeconomic determinants of bank profitability. J Int Finan Markets Inst Money 18:121–136CrossRef Athanasoglou PP, Brissimis SN, Delis MD (2008) Bank-specific, industry-specific and macroeconomic determinants of bank profitability. J Int Finan Markets Inst Money 18:121–136CrossRef
go back to reference Bank of Japan (2007). Financial System Report (September). Bank of Japan: Tokyo. Bank of Japan (2007). Financial System Report (September). Bank of Japan: Tokyo.
go back to reference Baum CF, Caglayan M, Talavera O (2010) Parliamentary election cycles and the Turkish banking sector. J Bank Finance 34:2709–2719CrossRef Baum CF, Caglayan M, Talavera O (2010) Parliamentary election cycles and the Turkish banking sector. J Bank Finance 34:2709–2719CrossRef
go back to reference Beck T, Behr P, Guettler A (2013) Gender and banking: are women better loan officers? Rev Financ 17:1279–1321CrossRef Beck T, Behr P, Guettler A (2013) Gender and banking: are women better loan officers? Rev Financ 17:1279–1321CrossRef
go back to reference Becker GS (1964) Human capital: a theoretical and empirical analysis, with special reference to education. Columbia University Press, New York Becker GS (1964) Human capital: a theoretical and empirical analysis, with special reference to education. Columbia University Press, New York
go back to reference Berger AN, Bouwman CHS (2009) Bank liquidity creation. Rev Financ Stud 22:3779–3837CrossRef Berger AN, Bouwman CHS (2009) Bank liquidity creation. Rev Financ Stud 22:3779–3837CrossRef
go back to reference Berger AN, DeYoung R (1997) Problem loans and cost efficiency in commercial banks. J Bank Financ 21(6):849–870CrossRef Berger AN, DeYoung R (1997) Problem loans and cost efficiency in commercial banks. J Bank Financ 21(6):849–870CrossRef
go back to reference Berger AN, Turk-Ariss R (2015) Do depositors discipline banks and did government actions during the recent crisis reduce this discipline? An international perspective. J Financ Serv Res 48:103–126CrossRef Berger AN, Turk-Ariss R (2015) Do depositors discipline banks and did government actions during the recent crisis reduce this discipline? An international perspective. J Financ Serv Res 48:103–126CrossRef
go back to reference Berger A, Klapper L, Turk-Ariss R (2009) Bank competition and financial stability. J Financ Serv Res 35(2):99–118CrossRef Berger A, Klapper L, Turk-Ariss R (2009) Bank competition and financial stability. J Financ Serv Res 35(2):99–118CrossRef
go back to reference Berger AN, Kick T, Schaeck K (2014) Executive board composition and bank risk taking. J Corp Finan 28:48–65CrossRef Berger AN, Kick T, Schaeck K (2014) Executive board composition and bank risk taking. J Corp Finan 28:48–65CrossRef
go back to reference Berger A, Ghoul SE, Guedhami O, Roman R (2017) Internationalization and bank risk. Manage Sci 63:2283–2301CrossRef Berger A, Ghoul SE, Guedhami O, Roman R (2017) Internationalization and bank risk. Manage Sci 63:2283–2301CrossRef
go back to reference Berger AN, Bouwman C, Kick T, Schaeck K (2016) Bank liquidity creation following regulatory interventions and capital support. J Fin Intermedia 26:115–141CrossRef Berger AN, Bouwman C, Kick T, Schaeck K (2016) Bank liquidity creation following regulatory interventions and capital support. J Fin Intermedia 26:115–141CrossRef
go back to reference Bodea C, Kerner A (2022) Fear of inflation and gender representation in central banking. Eur J Polit Econ 74:102192CrossRef Bodea C, Kerner A (2022) Fear of inflation and gender representation in central banking. Eur J Polit Econ 74:102192CrossRef
go back to reference Boyd J, de Nicolo G (2005) The theory of bank risk-taking and competition revisited. J Financ 60:1329–1343CrossRef Boyd J, de Nicolo G (2005) The theory of bank risk-taking and competition revisited. J Financ 60:1329–1343CrossRef
go back to reference Bystrom HNE (2004) The market’s view on the probability of banking sector failure: cross-country comparisons. J Int Finan Markets Inst Money 14:419–438CrossRef Bystrom HNE (2004) The market’s view on the probability of banking sector failure: cross-country comparisons. J Int Finan Markets Inst Money 14:419–438CrossRef
go back to reference Calice P, Leonida L, Muzzupappa E (2021) Concentration-stability vs concentration-fragility: new cross-country evidence. J Int Financ Markets Instit Money 74:101411CrossRef Calice P, Leonida L, Muzzupappa E (2021) Concentration-stability vs concentration-fragility: new cross-country evidence. J Int Financ Markets Instit Money 74:101411CrossRef
go back to reference Cardillo G, Onali E, Torluccio G (2021) Does gender diversity on banks’ boards matter? Evidence from public bailouts. J Corp Financ 71:101560CrossRef Cardillo G, Onali E, Torluccio G (2021) Does gender diversity on banks’ boards matter? Evidence from public bailouts. J Corp Financ 71:101560CrossRef
go back to reference Carstens, A. (2018). Deposit insurance and financial stability: old and new challenges. Keynote address at the Annual Conference on "Deposit insurance and financial stability: Recent financial topics". BIS: Basel. Carstens, A. (2018). Deposit insurance and financial stability: old and new challenges. Keynote address at the Annual Conference on "Deposit insurance and financial stability: Recent financial topics". BIS: Basel.
go back to reference Carter DA, Simkins B, Simpson W (2003) Corporate governance, board diversity and firm value. Financ Rev 38:33–53CrossRef Carter DA, Simkins B, Simpson W (2003) Corporate governance, board diversity and firm value. Financ Rev 38:33–53CrossRef
go back to reference Carter D, D'Souza F, Simkins B, Simpson G (2010) The gender and ethnic diversity of US boards and board committees and firm financial performance. Corporate Governance: An International Review 18:396–414CrossRef Carter D, D'Souza F, Simkins B, Simpson G (2010) The gender and ethnic diversity of US boards and board committees and firm financial performance. Corporate Governance: An International Review 18:396–414CrossRef
go back to reference Casu, B., di Petro, F., and Trujillo-Ponce, A. (2016). Liquidity creation and bank capital in the Eurozone. SSRN Paper No.2828619. Casu, B., di Petro, F., and Trujillo-Ponce, A. (2016). Liquidity creation and bank capital in the Eurozone. SSRN Paper No.2828619.
go back to reference Chen L, Li H, Liu FH, Zhou Y (2021) Bank regulation and systemic risk: cross country evidence. Rev Quant Financ Acc 57:353–387CrossRef Chen L, Li H, Liu FH, Zhou Y (2021) Bank regulation and systemic risk: cross country evidence. Rev Quant Financ Acc 57:353–387CrossRef
go back to reference Claessens S, Dell’Ariccia G, Igan D, Laeven L (2010) Cross-country experiences and policy implications from the global financial crisis. Econ Policy 62:267–293CrossRef Claessens S, Dell’Ariccia G, Igan D, Laeven L (2010) Cross-country experiences and policy implications from the global financial crisis. Econ Policy 62:267–293CrossRef
go back to reference Claessens S, Coleman N, Donnelly M (2018) Low-for-long interest rates and banks’ interest margins and profitability: cross-country evidence. J Financ Intermed 35A:1–16CrossRef Claessens S, Coleman N, Donnelly M (2018) Low-for-long interest rates and banks’ interest margins and profitability: cross-country evidence. J Financ Intermed 35A:1–16CrossRef
go back to reference Correa R, Goldberg L (2022) Bank complexity, governance and risk. J Bank Financ 134:106013CrossRef Correa R, Goldberg L (2022) Bank complexity, governance and risk. J Bank Financ 134:106013CrossRef
go back to reference Correia S (2017) REGHDFE: Stata module for linear and instrumental-variable/gmm regression absorbing multiple levels of fixed effects. Statistical Software Components s457874, Boston College, USA Correia S (2017) REGHDFE: Stata module for linear and instrumental-variable/gmm regression absorbing multiple levels of fixed effects. Statistical Software Components s457874, Boston College, USA
go back to reference Crowe C, Meade EE (2008) Central bank independence and transparency: evolution and effectiveness. Eur J Polit Econ 24:763–777CrossRef Crowe C, Meade EE (2008) Central bank independence and transparency: evolution and effectiveness. Eur J Polit Econ 24:763–777CrossRef
go back to reference Cukierman A (1992) Measuring the independence of central banks and its effects on policy outcomes. World Bank Econ Rev 6:353–398CrossRef Cukierman A (1992) Measuring the independence of central banks and its effects on policy outcomes. World Bank Econ Rev 6:353–398CrossRef
go back to reference Davis P, Karim D, Noel D (2020) The bank capital-competiiton-risk nexus: a global perspective. J Int Financ Markets Instit Money 65:101169CrossRef Davis P, Karim D, Noel D (2020) The bank capital-competiiton-risk nexus: a global perspective. J Int Financ Markets Instit Money 65:101169CrossRef
go back to reference de Alonso PA, Vallelado E (2008) Corporate governance in banking: the role of the board of directors. J Bank Financ 32:2570–2580CrossRef de Alonso PA, Vallelado E (2008) Corporate governance in banking: the role of the board of directors. J Bank Financ 32:2570–2580CrossRef
go back to reference De Young R, Distinguin I, Tarazi A (2018) The joint regulation of bank liquidity and bank capital. J Financ Intermed 34:32–46CrossRef De Young R, Distinguin I, Tarazi A (2018) The joint regulation of bank liquidity and bank capital. J Financ Intermed 34:32–46CrossRef
go back to reference Demirguc Kunt A, Kane E, and Laeven L (2014) Deposit insurance database. IMF Working Paper No.118. IMF: Washington DC Demirguc Kunt A, Kane E, and Laeven L (2014) Deposit insurance database. IMF Working Paper No.118. IMF: Washington DC
go back to reference Demirgüç-Kunt A, Kane E, Laeven L (2008) Determinants of deposit-insurance adoption and design. J Financ Intermed 17:407–438CrossRef Demirgüç-Kunt A, Kane E, Laeven L (2008) Determinants of deposit-insurance adoption and design. J Financ Intermed 17:407–438CrossRef
go back to reference Demirguc-Kunt A, Detragiache E (1998) The determinants of banking crises in developed and developing economies. IMF Staff Pap 45:81–109CrossRef Demirguc-Kunt A, Detragiache E (1998) The determinants of banking crises in developed and developing economies. IMF Staff Pap 45:81–109CrossRef
go back to reference Demirguc-Kunt A, Detragiache E (2002) Does deposit insurance increase banking system stability? J Monet Econ 49:1373–1406CrossRef Demirguc-Kunt A, Detragiache E (2002) Does deposit insurance increase banking system stability? J Monet Econ 49:1373–1406CrossRef
go back to reference Dincer NN and Eichengreen B (2007) Central bank transparency: where, why, and with what effects?. NBER Working Paper No. 13003. Cambridge: MA Dincer NN and Eichengreen B (2007) Central bank transparency: where, why, and with what effects?. NBER Working Paper No. 13003. Cambridge: MA
go back to reference Distinguin I, Roulet C, Tarazi A (2013) Bank regulatory capital and liquidity: evidence from US and European publicly traded banks. J Bank Financ 37:3295–3317CrossRef Distinguin I, Roulet C, Tarazi A (2013) Bank regulatory capital and liquidity: evidence from US and European publicly traded banks. J Bank Financ 37:3295–3317CrossRef
go back to reference Doumpos M, Gaganis C, Pasiouras F (2015) Central bank independence, financial supervision structure and bank soundness: an empirical analysis around the crisis. J Bank Financ 61:S69–S83CrossRef Doumpos M, Gaganis C, Pasiouras F (2015) Central bank independence, financial supervision structure and bank soundness: an empirical analysis around the crisis. J Bank Financ 61:S69–S83CrossRef
go back to reference Dreher A, Strum J-E, de Haan J (2010) When is a central bank governor replaced? Evidence based on a new data set. J Macroecon 32:766–781CrossRef Dreher A, Strum J-E, de Haan J (2010) When is a central bank governor replaced? Evidence based on a new data set. J Macroecon 32:766–781CrossRef
go back to reference Eckel C, Grossman P (2008) Men, women and risk aversion: Experimental evidence. Handbook of Experimental Economics Results, North Holland, Amsterdam, pp 1061–1073 Eckel C, Grossman P (2008) Men, women and risk aversion: Experimental evidence. Handbook of Experimental Economics Results, North Holland, Amsterdam, pp 1061–1073
go back to reference Eijffinger SC, Geraats PM (2006) How transparent are central banks?’. Eur J Polit Econ 22:1–21CrossRef Eijffinger SC, Geraats PM (2006) How transparent are central banks?’. Eur J Polit Econ 22:1–21CrossRef
go back to reference European Central Bank (2017). Guidance to banks on non-performing loans (March). ECB: Frankfurt. European Central Bank (2017). Guidance to banks on non-performing loans (March). ECB: Frankfurt.
go back to reference Faccio M, Marchica MT, Mura R (2016) CEO gender and corporate risk-taking, and the efficiency of capital allocation. J Corp Finan 39:193–209CrossRef Faccio M, Marchica MT, Mura R (2016) CEO gender and corporate risk-taking, and the efficiency of capital allocation. J Corp Finan 39:193–209CrossRef
go back to reference Fama E, Jensen M (1983) Separation of ownership and control. J Law Econ 26:301–325CrossRef Fama E, Jensen M (1983) Separation of ownership and control. J Law Econ 26:301–325CrossRef
go back to reference Ferrera FM, Angino S (2021) Does clarity make central bank more engaging? Lessons from ECB communication. Eur J Polit Econ 74:102146CrossRef Ferrera FM, Angino S (2021) Does clarity make central bank more engaging? Lessons from ECB communication. Eur J Polit Econ 74:102146CrossRef
go back to reference Filippin A, Crosetto P (2016) A reconsideration of gender differences in risk attitudes. Manage Sci 62:3138–3160CrossRef Filippin A, Crosetto P (2016) A reconsideration of gender differences in risk attitudes. Manage Sci 62:3138–3160CrossRef
go back to reference Flannery M, Rangan K (2008) What caused the bank capital build-up of the 1990s? Rev Financ 12:391–429CrossRef Flannery M, Rangan K (2008) What caused the bank capital build-up of the 1990s? Rev Financ 12:391–429CrossRef
go back to reference Ghosh S (2017a) Does central bank governors term in office matter for macroprudential policies? Evidence from MENA banks. Res Int Bus Financ 40:34–51CrossRef Ghosh S (2017a) Does central bank governors term in office matter for macroprudential policies? Evidence from MENA banks. Res Int Bus Financ 40:34–51CrossRef
go back to reference Ghosh S (2017b) Why is it a man’s world, after all? Women on bank boards in India. Econ Syst 41:109–121CrossRef Ghosh S (2017b) Why is it a man’s world, after all? Women on bank boards in India. Econ Syst 41:109–121CrossRef
go back to reference Ghosh S, Das A (2005) Market discipline, capital adequacy and bank behaviour. Econ Pol Wkly 2005:1210–1215 Ghosh S, Das A (2005) Market discipline, capital adequacy and bank behaviour. Econ Pol Wkly 2005:1210–1215
go back to reference Gibson R, Michayluk D, Van de Venter G (2013) Financial risk tolerance: an analysis of unexplored factors. Financ Serv Rev 22(1):23–50 Gibson R, Michayluk D, Van de Venter G (2013) Financial risk tolerance: an analysis of unexplored factors. Financ Serv Rev 22(1):23–50
go back to reference Gohlmann S, Vaubel R (2007) The educational and occupational background of central bankers and its effect on inflation: an empirical analysis. Eur Econ Rev 51:925–941CrossRef Gohlmann S, Vaubel R (2007) The educational and occupational background of central bankers and its effect on inflation: an empirical analysis. Eur Econ Rev 51:925–941CrossRef
go back to reference Goodhart C, Schoenmaker D (1995) Should the functions of monetary policy and banking supervision be separated? Oxf Econ Pap 47:539–560CrossRef Goodhart C, Schoenmaker D (1995) Should the functions of monetary policy and banking supervision be separated? Oxf Econ Pap 47:539–560CrossRef
go back to reference Gul F, Srinidhi B, Ng AC (2011) Does board gender diversity improve the informativeness of stock prices? J Account Econ 15:314–338CrossRef Gul F, Srinidhi B, Ng AC (2011) Does board gender diversity improve the informativeness of stock prices? J Account Econ 15:314–338CrossRef
go back to reference Gulamhussen MA, Santa SF (2015) Female directors in bank boardrooms and their influence on performance and risk-taking. Glob Financ J 28:10–23CrossRef Gulamhussen MA, Santa SF (2015) Female directors in bank boardrooms and their influence on performance and risk-taking. Glob Financ J 28:10–23CrossRef
go back to reference Hayat MA, Farvaque E (2011) When are central bankers removed? Revue Economique 62:471–478CrossRef Hayat MA, Farvaque E (2011) When are central bankers removed? Revue Economique 62:471–478CrossRef
go back to reference International Monetary Fund (2019) World Economic Outlook (April). IMF, Washington DC International Monetary Fund (2019) World Economic Outlook (April). IMF, Washington DC
go back to reference International Monetary Fund (2020) Global Financial Stability Report (Chapter 4: Low rates, low profits). IMF, Washington DC International Monetary Fund (2020) Global Financial Stability Report (Chapter 4: Low rates, low profits). IMF, Washington DC
go back to reference Jackson (1999a). Jackson, P. (1999a). Capital requirements and bank behaviour: The Jackson (1999a). Jackson, P. (1999a). Capital requirements and bank behaviour: The
go back to reference Jensen MC, Meckling WH (1976) Theory of the firm: managerial behaviour, agency costs and ownership structure. J Financ Econ 3:305–360CrossRef Jensen MC, Meckling WH (1976) Theory of the firm: managerial behaviour, agency costs and ownership structure. J Financ Econ 3:305–360CrossRef
go back to reference Jha CK, Sarangi S (2018) Women and corruption: what positions must they hold to make a difference? J Econ Behav Organ 151:219–233CrossRef Jha CK, Sarangi S (2018) Women and corruption: what positions must they hold to make a difference? J Econ Behav Organ 151:219–233CrossRef
go back to reference Kanagaretnam K, Lobo GJ, Wang C, Whalen D (2015) Religiosity and risk-taking in international banking. J Behav Exp Financ 7:42–59CrossRef Kanagaretnam K, Lobo GJ, Wang C, Whalen D (2015) Religiosity and risk-taking in international banking. J Behav Exp Financ 7:42–59CrossRef
go back to reference Kaufmann D, Kraay A, and Mastruzzi, M (2010) The worldwide governance indicators: Methodology and analytical issues. Policy Research Working Paper No.5430. The World Bank: Washington DC Kaufmann D, Kraay A, and Mastruzzi, M (2010) The worldwide governance indicators: Methodology and analytical issues. Policy Research Working Paper No.5430. The World Bank: Washington DC
go back to reference Kutan AM, Samargandi N, Sohag K (2017) Does institutional quality matter for financial development and growth? Further evidence from MENA countries. Aust Econ Pap 56:228–248CrossRef Kutan AM, Samargandi N, Sohag K (2017) Does institutional quality matter for financial development and growth? Further evidence from MENA countries. Aust Econ Pap 56:228–248CrossRef
go back to reference Kuttner KN, Posen AS (2010) Do markets care who chairs the central bank? J Money, Credit, Bank 42:347–371CrossRef Kuttner KN, Posen AS (2010) Do markets care who chairs the central bank? J Money, Credit, Bank 42:347–371CrossRef
go back to reference La Porta R, Lopez de Silanes F, Shleifer A, Vishny R (1997) Legal determinants of external finance. J Financ 52:1131–1150CrossRef La Porta R, Lopez de Silanes F, Shleifer A, Vishny R (1997) Legal determinants of external finance. J Financ 52:1131–1150CrossRef
go back to reference La Porta R, Lopez-de-Silanes F, Shleifer A (2008) The economic consequences of legal origins. J Econ Literat 46:285–332CrossRef La Porta R, Lopez-de-Silanes F, Shleifer A (2008) The economic consequences of legal origins. J Econ Literat 46:285–332CrossRef
go back to reference Laeven L and Valencia F (2018) Systemic banking crises revisited. IMF Working Paper No. 206. IMF: Washington DC Laeven L and Valencia F (2018) Systemic banking crises revisited. IMF Working Paper No. 206. IMF: Washington DC
go back to reference Leung WS, Taylor N, Evans KP (2015) The determinants of bank risks: evidence from the recent financial crisis. J Int Finan Markets Inst Money 34:277–293CrossRef Leung WS, Taylor N, Evans KP (2015) The determinants of bank risks: evidence from the recent financial crisis. J Int Finan Markets Inst Money 34:277–293CrossRef
go back to reference Li H, Liu H, Veld C (2019) The effects of bank regulation stringency on seasoned equity offering announcements. J Int Money Financ 91:71–85CrossRef Li H, Liu H, Veld C (2019) The effects of bank regulation stringency on seasoned equity offering announcements. J Int Money Financ 91:71–85CrossRef
go back to reference Li X, Liu Z, Peng Y, and Xu Z (2020) Bank risk-taking and monetary policy transmission: Evidence from China. Federal Reserve Bank of San Francisco Working Paper No.27. FRB San Francisco Li X, Liu Z, Peng Y, and Xu Z (2020) Bank risk-taking and monetary policy transmission: Evidence from China. Federal Reserve Bank of San Francisco Working Paper No.27. FRB San Francisco
go back to reference Liu Y, Wei Z, Xie F (2014) Do women directors improve firm performance in China? J Corp Finan 28:169–184CrossRef Liu Y, Wei Z, Xie F (2014) Do women directors improve firm performance in China? J Corp Finan 28:169–184CrossRef
go back to reference Lu Y, Nikolaev V (2021) Expected loan loss provisioning: an empirical model. Account Rev 97:319–346CrossRef Lu Y, Nikolaev V (2021) Expected loan loss provisioning: an empirical model. Account Rev 97:319–346CrossRef
go back to reference Luu HN, Vo XV (2021) The impact of supervisory stress tests on bank ex-ante risk-taking behaviour: empirical evidence from a quasi-natural experiment. Int Rev Financ Anal 75:101586CrossRef Luu HN, Vo XV (2021) The impact of supervisory stress tests on bank ex-ante risk-taking behaviour: empirical evidence from a quasi-natural experiment. Int Rev Financ Anal 75:101586CrossRef
go back to reference Maechler A, McDill K (2006) Dynamic depositor discipline in US banks. J Bank Finance 30:1871–1898CrossRef Maechler A, McDill K (2006) Dynamic depositor discipline in US banks. J Bank Finance 30:1871–1898CrossRef
go back to reference Masciandaro D, Profeta P and Romelli D (2018) Do women matter in monetary policymaking? Baffi Carefin Centre, Bocconi University, Working Paper No. 88. Bocconi: Italy. Masciandaro D, Profeta P and Romelli D (2018) Do women matter in monetary policymaking? Baffi Carefin Centre, Bocconi University, Working Paper No. 88. Bocconi: Italy.
go back to reference Masciandaro D, Romelli D (2018) Central bankers as supervisors: do crises matter? Eur J Polit Econ 52:12–140CrossRef Masciandaro D, Romelli D (2018) Central bankers as supervisors: do crises matter? Eur J Polit Econ 52:12–140CrossRef
go back to reference Micco A, Panizza U, Yañez M (2007) Bank ownership and performance. Does politics matter? J Bank Financ 31:219–241CrossRef Micco A, Panizza U, Yañez M (2007) Bank ownership and performance. Does politics matter? J Bank Financ 31:219–241CrossRef
go back to reference Mirzaei A, Moore T, Liu G (2013) Does market structure matter on bank’ profitability and stability? Emerging vs. advanced economies. J Bank Financ 37:2920–2937CrossRef Mirzaei A, Moore T, Liu G (2013) Does market structure matter on bank’ profitability and stability? Emerging vs. advanced economies. J Bank Financ 37:2920–2937CrossRef
go back to reference Mishkin F (1999) Financial consolidation: dangers and opportunities. J Bank Financ 23:675–691CrossRef Mishkin F (1999) Financial consolidation: dangers and opportunities. J Bank Financ 23:675–691CrossRef
go back to reference Mishra P, Rashef A (2019) How does central bank governors matter? Regulation and the financial sector. J Money, Credit, Bank 51:369–402CrossRef Mishra P, Rashef A (2019) How does central bank governors matter? Regulation and the financial sector. J Money, Credit, Bank 51:369–402CrossRef
go back to reference Moser C, Dreher A (2010) Do markets care about central bank governor changes? Evidence from emerging markets. J Money Credit, Bank 42:1589–1612CrossRef Moser C, Dreher A (2010) Do markets care about central bank governor changes? Evidence from emerging markets. J Money Credit, Bank 42:1589–1612CrossRef
go back to reference De Nicoló G (2000) Size, charter value and risk in banking: an international perspective. International Finance Discussion Paper 689. Board of Governors of the Federal Reserve System. Federal Reserve: USA. De Nicoló G (2000) Size, charter value and risk in banking: an international perspective. International Finance Discussion Paper 689. Board of Governors of the Federal Reserve System. Federal Reserve: USA.
go back to reference Nyugen H, Faff R (2006) Impact of board size and board diversity on firm value: Australian evidence. Corp Ownersh Control 4:24–32 Nyugen H, Faff R (2006) Impact of board size and board diversity on firm value: Australian evidence. Corp Ownersh Control 4:24–32
go back to reference Olszak M, Pipien M, Kowalska I, Roszkowska S (2017) What drives heterogeneity of cyclicality of loan-loss provisions in the EU? J Financ Serv Res 51:55–96CrossRef Olszak M, Pipien M, Kowalska I, Roszkowska S (2017) What drives heterogeneity of cyclicality of loan-loss provisions in the EU? J Financ Serv Res 51:55–96CrossRef
go back to reference Osei-Tutu F, Weill L (2021) How language shapes bank risk taking. J Financ Serv Res 59:47–68CrossRef Osei-Tutu F, Weill L (2021) How language shapes bank risk taking. J Financ Serv Res 59:47–68CrossRef
go back to reference Ozili PK (2020) Does competence of central bank governors influence financial stability? Future Bus J 6:24CrossRef Ozili PK (2020) Does competence of central bank governors influence financial stability? Future Bus J 6:24CrossRef
go back to reference Pathan S, Faff R (2013) Does board structure in banks really affect their performance? J Bank Financ 37:1573–1589CrossRef Pathan S, Faff R (2013) Does board structure in banks really affect their performance? J Bank Financ 37:1573–1589CrossRef
go back to reference Peek J, Rosengren E, Tootell G (1999) Is banking supervision central to central banking? Quart J Econ 114:629–653CrossRef Peek J, Rosengren E, Tootell G (1999) Is banking supervision central to central banking? Quart J Econ 114:629–653CrossRef
go back to reference Pfeffer J, Salancik GR (1978) The external control of organisations: a resource dependence perspective. Harper and Row, New York Pfeffer J, Salancik GR (1978) The external control of organisations: a resource dependence perspective. Harper and Row, New York
go back to reference Reserve F (2020) Supervision and regulation report (November). Board of Governors of the Federal Reserve, Washington DC Reserve F (2020) Supervision and regulation report (November). Board of Governors of the Federal Reserve, Washington DC
go back to reference Reserve Bank of India (2017). Financial Stability Review (November). RBI: Mumbai. Reserve Bank of India (2017). Financial Stability Review (November). RBI: Mumbai.
go back to reference Roberts MR, Whited TM (2013) Endogeneity in empirical corporate finance. In: Constantinides GM, Harris M, Stulz RM (eds) Handbook of the economics of finance. Elsevier, North Holland, pp 493–572CrossRef Roberts MR, Whited TM (2013) Endogeneity in empirical corporate finance. In: Constantinides GM, Harris M, Stulz RM (eds) Handbook of the economics of finance. Elsevier, North Holland, pp 493–572CrossRef
go back to reference Sahay R and Cihak M (2018) Women in finance: a case for closing gaps. IMF Staff Discussion Note No.5. IMF: Washington DC Sahay R and Cihak M (2018) Women in finance: a case for closing gaps. IMF Staff Discussion Note No.5. IMF: Washington DC
go back to reference Salas V, Saurina J (2002) Credit risk in two institutional regimes: Spanish commercial and savings banks. J Financ Serv Res 22(3):203–224CrossRef Salas V, Saurina J (2002) Credit risk in two institutional regimes: Spanish commercial and savings banks. J Financ Serv Res 22(3):203–224CrossRef
go back to reference Sapienza P, Zingales L, Maestripieri D (2009) Gender differences in financial risk aversion and career choices are affected by testosterone. Proc Natl Acad Sci 106:15268–15273CrossRef Sapienza P, Zingales L, Maestripieri D (2009) Gender differences in financial risk aversion and career choices are affected by testosterone. Proc Natl Acad Sci 106:15268–15273CrossRef
go back to reference Sheng A (1991) The role of the central bank in banking crises: an overview. In: Downes P, Vaez-Zadeh R (eds) The evolving role of central banks. IMF, Washington DC, pp 193–217 Sheng A (1991) The role of the central bank in banking crises: an overview. In: Downes P, Vaez-Zadeh R (eds) The evolving role of central banks. IMF, Washington DC, pp 193–217
go back to reference Shrieves RE, Dahl D (1992) The relationship between risk and capital in commercial banks. J Bank Financ 16:439–457CrossRef Shrieves RE, Dahl D (1992) The relationship between risk and capital in commercial banks. J Bank Financ 16:439–457CrossRef
go back to reference Singh V, Vinnicombe S (2004) Why so few women directors in top UK boardrooms? Evidence and theoretical explanations. Corp Gov Int Rev 12:479–488CrossRef Singh V, Vinnicombe S (2004) Why so few women directors in top UK boardrooms? Evidence and theoretical explanations. Corp Gov Int Rev 12:479–488CrossRef
go back to reference Skala D, Weill L (2018) Does CEO gender matter for bank risk? Econ Syst 42:64–74CrossRef Skala D, Weill L (2018) Does CEO gender matter for bank risk? Econ Syst 42:64–74CrossRef
go back to reference Violon A, Durant D, Toader O (2020) The impact of the designation of globally systematically important banks on their business model. Int J Cent Bank 16:95–142 Violon A, Durant D, Toader O (2020) The impact of the designation of globally systematically important banks on their business model. Int J Cent Bank 16:95–142
go back to reference Wiedner K (2020) A common european deposit insurance system on the path towards a steady-state banking union. EDIS, NPLs. De Gruyter, Sovereign Debt and Safe Assets. Berlin, pp 39–58 Wiedner K (2020) A common european deposit insurance system on the path towards a steady-state banking union. EDIS, NPLs. De Gruyter, Sovereign Debt and Safe Assets. Berlin, pp 39–58
go back to reference World Bank (2018) Financial development and structure dataset (Updated November). The World Bank, Washington, DC World Bank (2018) Financial development and structure dataset (Updated November). The World Bank, Washington, DC
Metadata
Title
Stability versus soundness: what matters for women central bank governors?
Author
Saibal Ghosh
Publication date
19-04-2023
Publisher
Springer US
Published in
Economic Change and Restructuring / Issue 4/2023
Print ISSN: 1573-9414
Electronic ISSN: 1574-0277
DOI
https://doi.org/10.1007/s10644-023-09514-8

Other articles of this Issue 4/2023

Economic Change and Restructuring 4/2023 Go to the issue

Premium Partner