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Etude controversée de la Bundesbank

Etude controversée de la Bundesbank

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Published by John doe
Etude, bundesbank
Etude, bundesbank

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Published by: John doe on Mar 28, 2012
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03/28/2012

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Discussion Paper
Deutsche BundesbankNo 03/2012
Discussion Papers represent the authors‘ personal opinions an
d
do notnecessarily refect the views o the Deutsche Bundesbank or its sta.
Executive board compositionand bank risk taking
Allen N. Berger
(University o South Carolina,Wharton Financial Institutions Center and Tilburg University)
Thomas Kick
(Deutsche Bundesbank)
Klaus Schaeck
(Bangor University)
 
 
Editorial Board:
Klaus DüllmannFrank HeidHeinz HerrmannDeutsche Bundesbank, Wilhelm-Epstein-Straße 14, 60431 Frankfurt am Main,Postfach 10 06 02, 60006 Frankfurt am MainTel +49 69 9566-0Telex within Germany 41227, telex from abroad 414431Please address all orders in writing to: Deutsche Bundesbank,Press and Public Relations Division, at the above address or via fax +49 69 9566-3077Internet http://www.bundesbank.deReproduction permitted only if source is stated.ISBN 978-3–86558– 
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 Abstract 
Little is known about how socioeconomic characteristics of executive teams affect corporategovernance in banking. Exploiting a unique dataset, we show how age, gender, and educationcomposition of executive teams affect risk taking of financial institutions. First, we establish thatage, gender, and education jointly affect the variability of bank performance. Second, we usedifference-in-difference estimations that focus exclusively on mandatory executive retirementsand find that younger executive teams increase risk taking, as do board changes that result in ahigher proportion of female executives. In contrast, if board changes increase the representationof executives holding Ph.D. degrees, risk taking declines.
 Keywords: Banks, executives, risk taking, age, gender, education JEL Classifications: G21, G34, I21, J16 

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