Araştırma Makalesi
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Yıl 2018, Cilt: 5 Sayı: 1, 34 - 50, 30.03.2018
https://doi.org/10.17261/Pressacademia.2018.815

Öz

Kaynakça

  • Abedifar, P., Molyneux, P., and Tarazi, A., 2013. Risk in Islamic banking. Review of Finance 17, 2035 - 2096
  • Abu-Tapanjeh, A.M. 2009, Corporate governance from the Islamic perspective: A comparative analysis with OECD principles, Critical Perspectives on Accounting, Vol. 20, pp. 556-567.
  • Adams, R.B. and Mehran, H. 2012, Bank board structure and performance: evidence for large bank holding companies, Journal of Financial Intermediation, Vol. 21, pp. 243–267.
  • Aebi, V., Sabato, G., Schmid, M., 2012. Risk management, corporate governance, and bank performance in the financial crisis. Journal of Banking & Finance 32, 3213-3226.
  • Andres, P. and Vallelado, E. 2008, Corporate governance in banking: the role of board of directors, Journal of Banking and Finance, Vol. 32, pp. 2570–2580.
  • Arellano, M. and Bond, S. 1998, Dynamic panel data estimation using DPD98 for GAUSS: A guide for users, Working paper, Institute for Fiscal Studies.
  • Arellano, M., Bover, O., 1995. Another look at the instrumental-variable estimation of errorcomponents models. Journal of Econometrics 68, 29—52
  • Ariss, R.T., 2010. Competitive conditions in Islamic and conventional banking: A global perspective. Review of Financial Economics 19, 101-108.
  • Baltagi, B.H. 2005, Econometric Analysis of Panel Data, John Wiley and Sons, Chichester.
  • Baltagi, B.H. and Wu, P.X. 1999, Unequally spaced panel data regressions with AR (1) disturbances, Econometric Theory, Vol. 15, pp. 814-823.
  • Beck, T., Demirguc-Kunt, A., Merrouche, O., 2013. Islamic vs. conventional banking: Business model, efficiency, and stability. Journal of Banking and Finance 37, 433-447.
  • Bauer, R., Frijns, B., Otten, R. and Tourani-Rad A. 2008, The impact of corporate governance on corporate performance: evidence from Japan, Pacific-Basin Finance Journal, Vol. 16, pp. 236-251.
  • Blundell, R., and Bond, S., 1998. Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics 87, 115-143.
  • Bourkhis, K., Nabi, M.S., 2013. Islamic and conventional bank’ soundness during the 2007-2008 financial crisis. Review of Financial Economics 22, 68-77.
  • Chapra, U., 2009. Global Financial Crisis: Can Islamic Finance help? A book chapter in Issues in the International Financial Crisis from the Islamic perspective. Islamic Economic Research Centre, Saudi Arabia.
  • Chapra, U., 2010. Global Perspective on Islamic Finance. LSE-Harvard Public Lecture on Islamic Finance (February 24).
  • Choddhury, M.A., and M.Z. Hoque 2006, Corporate Governance in Islamic Perspective, Corporate Governance 62, pp. 116-128.
  • Cihak, M., and Hesse, H. 2010. Islamic banks and financial stability: An empirical analysis. Journal of Financial Services Research 38, 95-113.
  • Erkens, D., Hung, M., Matos, P., 2012. Corporate governance in the 2007-2008 Financial Crisis: Evidence from Financial Institutions Worldwide. Journal of Corporate Finance 18, 389-411.
  • Ernst & Young 2012 World Islamic Banking Competitiveness Report 2011- 2012
  • Ernst & Young 2013 World Islamic Banking Competitiveness Report 2012 - 2013
  • Francis, B., Hassan, I., and Wu, Q. 2012, Do Corporate Boards Affect Firm Performance? New Evidence from the Financial Crisis. SSRN Working Paper: ssrn.com
  • Gambin, L., 2004. Gender differences in the effect of health on wages in Britain. http://www2.eur.nl/bmg/ecuity/public_papers/ECuity3wp20GambinGenderhealthonincome.pdf
  • Gani, L. and Jermias, J. 2006, Investigating the effect of board independence on performance across different strategies, The International Journal of Accounting, Vol. 41, pp. 295-3 14.
  • Grais, W., and Pellegrini, M. 2006, Corporate governance and Shari’ah compliance in institutional offering Islamic financial services, World Bank Policy Research Working Paper #WPS4054, 1-35.
  • Green, S., 2010. Global perspective on Islamic finance. LSE-Harvard Public Lecture on Islamic Finance (February 24).
  • Gupta, P.P. Kenndy, D.B. and Weaver, S.C. 2009, Corporate Governance and Firm Value: Evidence from Canadian Capital Markets, Corporate Ownership and Control, Vol. 6, No. 3, pp. 293-307.
  • Hassan, M. K., 2011, Corporate governance practices in emerging economies: initial findings from the UAE”, China-USA Business Review Journal, Vol. 10, No. 9, pp. 856-864.
  • Hermalin, B.E., and Weisbach, M.S. 2003, Boards of directors as an endogenously determined institution: A survey of the economic literature, FRBNY Economic Policy Review 9, 7-26.
  • Hutchinson, M. 2002, An analysis of the association between firms' investment opportunities, board composition, and firm performance, Asia Pacific Journal of Accounting and Economics, Vol. 9, pp. 17−39.
  • Jensen, M.C., 1993. The modern industrial revaluation, exist and failure of internal control systems. The Journal of Finance 48, 831-880.
  • Kirkpatrick, G., 2009. The Corporate governance lessons from the financial crisis, Financial Market Trends, OECD 2009/1, 1-30.
  • Larcker, D.F., Richardson, A.A. and Tuna, I 2007, Corporate Governance, Accounting Outcomes, and Organizational Performance, The Accounting Review, Vol. 82, NO.4, pp. 963-1008.
  • Lee, C., Rosenstein, S., Rangan, N., & Davidson III, W. N. 1992, Board composition and shareholder wealth: The case of management buyouts, Financial Management, Vol. 21, pp. 58−72.
  • Lewis, M.K. 2005, Islamic corporate governance, Review of Islamic Economics, Vol. 9, pp. 5-29.
  • Pathan, S. 2009, Strong Boards, CEO Power and Bank Risk-Taking, Journal of Banking & Finance, Vol. 33, pp. 1340-1350.
  • Pathan, S. and Faff, R. 2013, Does board structure in banks really affect their performance? Journal of Banking & Finance, Vol. 37, pp. 1573-1589.
  • Roodman, D. 2006, How to do xtabond2: An introduction to ‘difference’ and ‘system’ GMM in Stata, Working paper, Center for Global Development.
  • Safieddin, A. 2009, Islamic financial institutions and corporate governance: New insights for agency theory, Corporate Governance: An International Review, 17, pp. 142-158.
  • Sharfman, B. S., 2009. Enhancing the efficiency of board decision making: Lessons learned from the financial crisis of 2008. Delaware Journal of Corporate Law 34, 813-851.
  • Sierra, G.E., Talmor, E., Wallace, J.S. 2006, An examination of multiple governance forces within bank holding companies, Journal of Financial Services Research, Vol. 29, pp. 105–123.
  • Stanwick, P.A. and Stanwick, S. D. 2010, The relationship between governance and financial performance: an empirical study of Canadian firms, The Business Review, Vol. 16, No. 2, pp. 35-41.
  • Thomson Reuters’ 2016/2017 ‘State of The Global Islamic Economy’ report https://ceif.iba.edu.pk/pdf/ThomsonReuters-stateoftheGlobalIslamicEconomyReport201617. pdf
  • Weir, C., Laing, D., McKnight, P.J., 2002, Internal and external governance mechanisms: their impact on the performance of the UK large public companies, Journal of Business Finance and Accounting, Vol. 29, pp. 579-611.
  • Wilson, R., 2010. Why is Islamic banking successful? Islamic banks are unscathed despite financial crisis. www.islamonline.net
  • Wintoki, M.B., Linck, J.S., Netter, J.M. 2012, Endogeneity and the dynamics of corporate governance, Journal of Financial Economics, Vol. 105, pp. 581–606.
  • Wooldridge, J.M. 2002, Econometric analysis of cross-section and panel data, MIT Press, Cambridge, Massachusetts, London.

A COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE AND BANK PERFORMANCE: ISLAMIC BANKS VERSUS CONVENTIONAL BANKS

Yıl 2018, Cilt: 5 Sayı: 1, 34 - 50, 30.03.2018
https://doi.org/10.17261/Pressacademia.2018.815

Öz

Purpose - This study examines the relationship between the
multi-layer corporate governance model of Islamic banking and bank performance.
   

Methodology - The random-effects GLS method for the regression
analysis and two-step generalized methods of moments for the robustness check
of the findings were utilized.

Findings - The results show that boards are strong and the CEO’s are
powerful in Islamic banks. While the return variables of Islamic banks are
positively correlated with the financial disclosure index and board structure
variables, they are negatively correlated with the risk closure index and CEO
related variables. The corporate governance and financial disclosure indices
lessen the profitability of Islamic banks as they are negatively significant
with performance variables.







Conclusion - The governance mechanism provides a weak explanation
for the changes in shareholders’ value of Islamic banks, which shows that
conventional banks have better, more effective, governance system than Islamic
banks in this regard.
  

Kaynakça

  • Abedifar, P., Molyneux, P., and Tarazi, A., 2013. Risk in Islamic banking. Review of Finance 17, 2035 - 2096
  • Abu-Tapanjeh, A.M. 2009, Corporate governance from the Islamic perspective: A comparative analysis with OECD principles, Critical Perspectives on Accounting, Vol. 20, pp. 556-567.
  • Adams, R.B. and Mehran, H. 2012, Bank board structure and performance: evidence for large bank holding companies, Journal of Financial Intermediation, Vol. 21, pp. 243–267.
  • Aebi, V., Sabato, G., Schmid, M., 2012. Risk management, corporate governance, and bank performance in the financial crisis. Journal of Banking & Finance 32, 3213-3226.
  • Andres, P. and Vallelado, E. 2008, Corporate governance in banking: the role of board of directors, Journal of Banking and Finance, Vol. 32, pp. 2570–2580.
  • Arellano, M. and Bond, S. 1998, Dynamic panel data estimation using DPD98 for GAUSS: A guide for users, Working paper, Institute for Fiscal Studies.
  • Arellano, M., Bover, O., 1995. Another look at the instrumental-variable estimation of errorcomponents models. Journal of Econometrics 68, 29—52
  • Ariss, R.T., 2010. Competitive conditions in Islamic and conventional banking: A global perspective. Review of Financial Economics 19, 101-108.
  • Baltagi, B.H. 2005, Econometric Analysis of Panel Data, John Wiley and Sons, Chichester.
  • Baltagi, B.H. and Wu, P.X. 1999, Unequally spaced panel data regressions with AR (1) disturbances, Econometric Theory, Vol. 15, pp. 814-823.
  • Beck, T., Demirguc-Kunt, A., Merrouche, O., 2013. Islamic vs. conventional banking: Business model, efficiency, and stability. Journal of Banking and Finance 37, 433-447.
  • Bauer, R., Frijns, B., Otten, R. and Tourani-Rad A. 2008, The impact of corporate governance on corporate performance: evidence from Japan, Pacific-Basin Finance Journal, Vol. 16, pp. 236-251.
  • Blundell, R., and Bond, S., 1998. Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics 87, 115-143.
  • Bourkhis, K., Nabi, M.S., 2013. Islamic and conventional bank’ soundness during the 2007-2008 financial crisis. Review of Financial Economics 22, 68-77.
  • Chapra, U., 2009. Global Financial Crisis: Can Islamic Finance help? A book chapter in Issues in the International Financial Crisis from the Islamic perspective. Islamic Economic Research Centre, Saudi Arabia.
  • Chapra, U., 2010. Global Perspective on Islamic Finance. LSE-Harvard Public Lecture on Islamic Finance (February 24).
  • Choddhury, M.A., and M.Z. Hoque 2006, Corporate Governance in Islamic Perspective, Corporate Governance 62, pp. 116-128.
  • Cihak, M., and Hesse, H. 2010. Islamic banks and financial stability: An empirical analysis. Journal of Financial Services Research 38, 95-113.
  • Erkens, D., Hung, M., Matos, P., 2012. Corporate governance in the 2007-2008 Financial Crisis: Evidence from Financial Institutions Worldwide. Journal of Corporate Finance 18, 389-411.
  • Ernst & Young 2012 World Islamic Banking Competitiveness Report 2011- 2012
  • Ernst & Young 2013 World Islamic Banking Competitiveness Report 2012 - 2013
  • Francis, B., Hassan, I., and Wu, Q. 2012, Do Corporate Boards Affect Firm Performance? New Evidence from the Financial Crisis. SSRN Working Paper: ssrn.com
  • Gambin, L., 2004. Gender differences in the effect of health on wages in Britain. http://www2.eur.nl/bmg/ecuity/public_papers/ECuity3wp20GambinGenderhealthonincome.pdf
  • Gani, L. and Jermias, J. 2006, Investigating the effect of board independence on performance across different strategies, The International Journal of Accounting, Vol. 41, pp. 295-3 14.
  • Grais, W., and Pellegrini, M. 2006, Corporate governance and Shari’ah compliance in institutional offering Islamic financial services, World Bank Policy Research Working Paper #WPS4054, 1-35.
  • Green, S., 2010. Global perspective on Islamic finance. LSE-Harvard Public Lecture on Islamic Finance (February 24).
  • Gupta, P.P. Kenndy, D.B. and Weaver, S.C. 2009, Corporate Governance and Firm Value: Evidence from Canadian Capital Markets, Corporate Ownership and Control, Vol. 6, No. 3, pp. 293-307.
  • Hassan, M. K., 2011, Corporate governance practices in emerging economies: initial findings from the UAE”, China-USA Business Review Journal, Vol. 10, No. 9, pp. 856-864.
  • Hermalin, B.E., and Weisbach, M.S. 2003, Boards of directors as an endogenously determined institution: A survey of the economic literature, FRBNY Economic Policy Review 9, 7-26.
  • Hutchinson, M. 2002, An analysis of the association between firms' investment opportunities, board composition, and firm performance, Asia Pacific Journal of Accounting and Economics, Vol. 9, pp. 17−39.
  • Jensen, M.C., 1993. The modern industrial revaluation, exist and failure of internal control systems. The Journal of Finance 48, 831-880.
  • Kirkpatrick, G., 2009. The Corporate governance lessons from the financial crisis, Financial Market Trends, OECD 2009/1, 1-30.
  • Larcker, D.F., Richardson, A.A. and Tuna, I 2007, Corporate Governance, Accounting Outcomes, and Organizational Performance, The Accounting Review, Vol. 82, NO.4, pp. 963-1008.
  • Lee, C., Rosenstein, S., Rangan, N., & Davidson III, W. N. 1992, Board composition and shareholder wealth: The case of management buyouts, Financial Management, Vol. 21, pp. 58−72.
  • Lewis, M.K. 2005, Islamic corporate governance, Review of Islamic Economics, Vol. 9, pp. 5-29.
  • Pathan, S. 2009, Strong Boards, CEO Power and Bank Risk-Taking, Journal of Banking & Finance, Vol. 33, pp. 1340-1350.
  • Pathan, S. and Faff, R. 2013, Does board structure in banks really affect their performance? Journal of Banking & Finance, Vol. 37, pp. 1573-1589.
  • Roodman, D. 2006, How to do xtabond2: An introduction to ‘difference’ and ‘system’ GMM in Stata, Working paper, Center for Global Development.
  • Safieddin, A. 2009, Islamic financial institutions and corporate governance: New insights for agency theory, Corporate Governance: An International Review, 17, pp. 142-158.
  • Sharfman, B. S., 2009. Enhancing the efficiency of board decision making: Lessons learned from the financial crisis of 2008. Delaware Journal of Corporate Law 34, 813-851.
  • Sierra, G.E., Talmor, E., Wallace, J.S. 2006, An examination of multiple governance forces within bank holding companies, Journal of Financial Services Research, Vol. 29, pp. 105–123.
  • Stanwick, P.A. and Stanwick, S. D. 2010, The relationship between governance and financial performance: an empirical study of Canadian firms, The Business Review, Vol. 16, No. 2, pp. 35-41.
  • Thomson Reuters’ 2016/2017 ‘State of The Global Islamic Economy’ report https://ceif.iba.edu.pk/pdf/ThomsonReuters-stateoftheGlobalIslamicEconomyReport201617. pdf
  • Weir, C., Laing, D., McKnight, P.J., 2002, Internal and external governance mechanisms: their impact on the performance of the UK large public companies, Journal of Business Finance and Accounting, Vol. 29, pp. 579-611.
  • Wilson, R., 2010. Why is Islamic banking successful? Islamic banks are unscathed despite financial crisis. www.islamonline.net
  • Wintoki, M.B., Linck, J.S., Netter, J.M. 2012, Endogeneity and the dynamics of corporate governance, Journal of Financial Economics, Vol. 105, pp. 581–606.
  • Wooldridge, J.M. 2002, Econometric analysis of cross-section and panel data, MIT Press, Cambridge, Massachusetts, London.
Toplam 47 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm Articles
Yazarlar

Talat Ulussever 0000-0002-5673-1238

Yayımlanma Tarihi 30 Mart 2018
Yayımlandığı Sayı Yıl 2018 Cilt: 5 Sayı: 1

Kaynak Göster

APA Ulussever, T. (2018). A COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE AND BANK PERFORMANCE: ISLAMIC BANKS VERSUS CONVENTIONAL BANKS. Research Journal of Business and Management, 5(1), 34-50. https://doi.org/10.17261/Pressacademia.2018.815
AMA Ulussever T. A COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE AND BANK PERFORMANCE: ISLAMIC BANKS VERSUS CONVENTIONAL BANKS. RJBM. Mart 2018;5(1):34-50. doi:10.17261/Pressacademia.2018.815
Chicago Ulussever, Talat. “A COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE AND BANK PERFORMANCE: ISLAMIC BANKS VERSUS CONVENTIONAL BANKS”. Research Journal of Business and Management 5, sy. 1 (Mart 2018): 34-50. https://doi.org/10.17261/Pressacademia.2018.815.
EndNote Ulussever T (01 Mart 2018) A COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE AND BANK PERFORMANCE: ISLAMIC BANKS VERSUS CONVENTIONAL BANKS. Research Journal of Business and Management 5 1 34–50.
IEEE T. Ulussever, “A COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE AND BANK PERFORMANCE: ISLAMIC BANKS VERSUS CONVENTIONAL BANKS”, RJBM, c. 5, sy. 1, ss. 34–50, 2018, doi: 10.17261/Pressacademia.2018.815.
ISNAD Ulussever, Talat. “A COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE AND BANK PERFORMANCE: ISLAMIC BANKS VERSUS CONVENTIONAL BANKS”. Research Journal of Business and Management 5/1 (Mart 2018), 34-50. https://doi.org/10.17261/Pressacademia.2018.815.
JAMA Ulussever T. A COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE AND BANK PERFORMANCE: ISLAMIC BANKS VERSUS CONVENTIONAL BANKS. RJBM. 2018;5:34–50.
MLA Ulussever, Talat. “A COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE AND BANK PERFORMANCE: ISLAMIC BANKS VERSUS CONVENTIONAL BANKS”. Research Journal of Business and Management, c. 5, sy. 1, 2018, ss. 34-50, doi:10.17261/Pressacademia.2018.815.
Vancouver Ulussever T. A COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE AND BANK PERFORMANCE: ISLAMIC BANKS VERSUS CONVENTIONAL BANKS. RJBM. 2018;5(1):34-50.

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