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- An examination of the Portuguese banking sector crisisPublication . Pereira, Vítor; Filipe, JoséThe purpose of this research is to analyse the trends in data from monetary financial institutions (MFIs) in Portugal compared to the Euro Area. The analysis principally focuses on the period after the subprime crisis, which started in 2007 in the USA. Moreover, this article exposes some interesting data about corporate governance in Portuguese banks (e.g. governance model, gender, board dimension, executive compensation, board members’ qualifications). Of particular note is the fact that after the bail-out of Portugal in 2011, the Portuguese banking system started a process of downsizing evidenced not only by the reduction in the number of branches but also cuts to human resources. In terms of board characteristics, it is evident that the majority of Portuguese banks use the Latin model of corporate governance. Furthermore, only a small number of Portuguese banks are listed (a total of three were registered). Another aspect of note is the limited presence of women on boards of directors.
- Board Attributes and Foreign Shareholdings in Portuguese BanksPublication . Pereira, Vítor; Filipe, JoséThis research studies the effect of some characteristics of the board of directors in terms of foreign shareholdings. For that, all Portuguese banks operating in 2011 were considered. In terms of board size no particular significance in the banks’ foreign shareholdings was identified. Moreover, it was tested the relationship between Board diligence and Foreign shareholdings and no relationship was obtained between these variables. Finally, the association between Board commissions and Foreign shareholdings was analyzed. A significant effect in the variable Board commissions was verified when the control variable Listed was added to the study. However, the regression results present a negative relationship, meaning that the existence of board commissions may have a negative effect in the Foreign shareholdings. So, it seems that Portuguese market regulators and policy makers need to develop other kind of measures in order to better inform investors. The Portuguese banking system needs to have a stronger disclosure of information made by banks, in particular banks that are not listed.