CEO ownership, corporate control, and bank performance |
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| Authors: | John M. Griffith Lawrence Fogelberg H. Shelton Weeks |
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| Affiliation: | (1) College of Business and Public Administration, Old Dominion University, 23529 Norfolk, VA;(2) Sorrel College of Business, Troy State University, USA;(3) College of Business, Florida Gulf Coast University, Florida, USA |
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| Abstract: | This study examines the relation between CEO ownership and bank performance. In contrast to Pi and Timme (1993), we find that, when economic measures of performance are used, the relation between ownership and the performance of commerical banks is nonlinear. Additionally, in contrast to previous studies, we find the question of whether or not the CEO also holds the title of chairman of the board has an insignificant impact on bank performance. We conclude that, in commercial banks, management entrenchment may offset the effects predicted by Jensen and Meckling's (1976) convergence-of-interest hypothesis. |
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