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- Institutional Investors of Portuguese BanksPublication . Pereira, VítorCorporate governance aspects do not function in an isolated form but they function like diverse bundles which can affect banks’ performance. Therefore, there is a tendency in corporate governance research to use statistical methodologies that can handle those diverse bundles of corporate governance aspects like fuzzy-set qualitative comparative analysis (fs/QCA). Moreover, I identify a lot of changes in the type of shareholders that own the Portuguese banks in particular in terms of institutional investors and I want to know if this aspect has an influence in terms of banks’ performance. In resume I want to apply a fs/QCA methodology to analyse the effects of diverse bundles of corporate governance in terms of banks’ performance. Therefore, the current research can have fruitful results for main actors of the Portuguese banking system like the Portuguese government, the Bank of Portugal, the European Central Bank, among others.
- 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.
- Quality of Board Members’ Training and Bank Financial Performance: Evidence from PortugalPublication . Pereira, Vítor; José António FilipeThis study examines the impact of the quality of board members’ training on the financial performance of Portuguese banks. The study employs a sample of 276 board members. Financial ratios such as return on average assets (ROAA) and return on average equity (ROAE) are used as measures for gauging banks’ financial performance. Three indexes are used as proxies for board members’ educational qualifications, specifically: Eduindex, for all academic qualifications obtained in areas such as business or economics; EduindexDP, for all qualifications obtained in prestigious domestic business schools; and EduindexFP, for all qualifications obtained in prestigious foreign business schools. The study findings have important policy implications, specifically a positive and significant impact on the bank’s financial performance from having board members holding degrees from prestigious foreign business schools. In particular, the findings suggest that the prudential supervision developed by Banco de Portugal in cooperation with the European Central Bank should include a more rigorous process in the selection of board members. The present study is one of the first attempts in the literature emphasizing all these aspects simultaneously, that is, the banking sector, quality of board members’ training, and Eduniversal Rankings, in the context in which all the banks of a specific country are analysed.
- 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.