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The role of corporate governance in the 2008 Financial Crisis

Objective

The purpose of this project is to follow up with a line of research on the role of corporate governance I started at Stanford University during my PhD at the Graduate School of Business. With the support of the Rock Center for Corporate Governance, I have explored different aspects of corporate governance and their regulatory implications. In papers coauthored with leading researchers from Stanford, Wharton and Harvard, I am exploring several aspects of the potential role of corporate governance on the financial crisis such as the role of corporate boards on risk oversight, the role of credit rating agencies and executive risk-taking incentives in the securitization process, insider trading activity around the financial crisis, the market reaction to corporate governance regulation, and the role of proxy advisory firms in stock option exchanges. Some of this work has been published or is under review at top-tier economics journals. There is still much
to learn about whether the financial crisis could have been avoided or mitigated by appropriate incentives and monitoring mechanisms, and about which corporate governance practices affect outcomes important to investors. In conjunction with my American colleagues, I will keep exploring the multidimensional nature of corporate governance and financial regulation and hopefully will also keep publishing papers at leading scientific journals in the areas of Finance and Accounting. This research project is also an opportunity to strengthen the cooperation between European and American business schools in a joint effort to better understand the causes and consequences of the recent financial upheaval.

Call for proposal

FP7-PEOPLE-2011-CIG
See other projects for this call

Coordinator

UNIVERSIDAD DE NAVARRA
Address
Campus Universitario Edificio Central
31080 Pamplona
Spain
Activity type
Higher or Secondary Education Establishments
EU contribution
€ 100 000
Administrative Contact
Sofia Anisimova (Ms.)