CEO power and its effect on performance and governance: Evidence from Chinese banks |
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| Institution: | 1. Department of Information and Finance Management, College of Management, National Taipei University of Technology, Taipei, Taiwan;2. Department of Money and Banking, College of Finance and Banking, National Kaohsiung First University of Science and Technology, Kaohsiung, Taiwan;3. Department of Risk Management and Insurance, College of Management, Shih Chien University, Taipei, Taiwan;1. Hanken School of Economics, Finland;2. Lund University School of Economics and Management, Sweden;3. Elite Asset Management Plc, Finland |
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| Abstract: | This study investigates whether CEO power matters in Chinese banks. We find that the effects of four power dimensions on banks' performance and board structure vary in their own unique ways. The CEOs with structural power are negatively related to performance but positively related to gender-diversified boards. Moreover, CEOs with ownership power enhance performance but are negatively associated with professionalism and diversification in the boards. Banks that have CEOs with expert power perform well and have gender-diversified boards. Meanwhile, CEOs with prestige power are likely to appoint politically connected directors to the board. |
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