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The impact of board characteristics and CEO power on banks’ risk-taking: stable versus crisis periods

ABSTRACT: We examine the impact of board structure, CEO power and other bank-specific factors on bank risk-taking for a sample of 72 publicly listed European banks in both stable and crisis periods. Using a simultaneous equations approach, our main findings indicate that the proportion of independent directors, the board size, and Chief Executive Officer (CEO) power affected bank risk-taking negatively during the recent financial crisis. On the contrary, institutional shareholder ownership and the presence of an ex-CEO as Chairman influenced bank risk-taking positively. Additionally, we separately analyse stable and crisis periods and observe that in the pre-crisis period only board independence and institutional ownership keep the same impact on risk while CEO power has no influence and the existence of an ex-CEO as Chairman reduces risk-taking by banks. We conclude that different governance characteristics have different relevance for banks' risk-taking contingent on the economic environment being one of stability or crisis.

SUBMITTER: Fernandes C

PROVIDER: S-EPMC7993444 | biostudies-literature |

REPOSITORIES: biostudies-literature

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Project description:Incubation at controlled temperature is a key step in culture based microbiological tests. Access to culture-based microbiological testing requires access to conventional incubators in a laboratory. Portable incubators allow microbiological testing in the field and in resource-limited settings, and can eliminate the challenge of sample transportation, minimising the chance of sample degradation. Recent studies have reported low-cost portable incubator designs suitable for field or off-grid use, but these either need an external power supply (e.g. mains AC or 12 V DC), or rely on passive heating without thermostatic control. Here we report that small inexpensive uninterruptable power supply (UPS) products manufactured for consumer electronics and powered by lithium-ion battery packs allowing thermostatic temperature control in small portable incubators that can maintain precise temperatures with or without external power. We present an open-source design for a Microbiological Mobile Incubator (MicroMI) in two sizes for field use. The MicroMI is built from simple and widely available components and is easy to set up. The open source design can be customised for different numbers of samples. The smallest and most efficient design uses a vacuum insulated food flask that allows longer operation with smaller, lower capacity UPS. The larger flight case design has space for more samples, but depletes the battery faster. The UPS maintains a typical microbiology incubation temperature for up to 24 h without external power- ideal for typical incubation needed for culture methods. The battery capacity, incubator design, and external ambient temperature all affected duration of operation without requiring external power. We validated the MicroMI by conducting classical microbiological tests using agar petri dishes, slant cultures and dip slides, and biochemical tests. We conclude the MicroMI design allows inexpensive lithium battery products to be used to simplify field microbiology and increase access to vital analytical microbiology testing.

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The impact of board characteristics and CEO power on banks’ risk-taking: stable versus crisis periods

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