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Pré-publication, Document de travail

Does the presence of institutional investors in family banks affect profitability and risk? Evidence from an emerging market

Abstract : This study aims to investigate whether the presence of institutional investors in family-controlled banks impacts their performance and risk. Using detailed data on Indonesian banks from 2001 to 2008 and controlling for various factors, our results first show that family-controlled banks are less profitable and more risky than other banks. Specifically, family presence, either under the form of direct ownership, pure single majority, or family directors, is related to higher default risk, income variability, and loan risk. However, the presence of institutional investors as a second stage block holder in family controlled banks tends to mitigate and even reverse such behavior by reducing risk-taking and improving performance. Our results are generally robust with regard to endogeneity issues and alternative specifications.
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Pré-publication, Document de travail
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https://hal-unilim.archives-ouvertes.fr/hal-01077118
Contributeur : Thierno Barry <>
Soumis le : jeudi 23 octobre 2014 - 21:40:32
Dernière modification le : jeudi 5 mars 2020 - 18:40:03
Archivage à long terme le : : vendredi 14 avril 2017 - 13:21:41

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  • HAL Id : hal-01077118, version 1

Citation

Bowo Setiyono, Amine Tarazi. Does the presence of institutional investors in family banks affect profitability and risk? Evidence from an emerging market. 2014. ⟨hal-01077118v1⟩

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