Agency, Governance, and Performance in the Securities Industry

Emre Erkut

ResearchPublished Oct 6, 2011

Motivated by a recognition of the importance of financial institutions, a gap in corporate governance literature, and the recent financial crisis, this dissertation examines the economics of financial firms, their governance practices, and governance-performance links in such firms. The research combines an extensive literature review, microeconomic modeling, secondary data collection, and a set of empirical analyses. It focuses on the board of directors as the key governance mechanism that is subject to policy making by both public and private decision makers. Within the wide range of financial firms, it focuses on firms in the business of managing client assets, where the most obvious gap in governance literature is.

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Document Details

  • Copyright: RAND Corporation
  • Availability: Web-Only
  • Year: 2011
  • Pages: 112
  • Document Number: RGSD-284

Citation

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Erkut, Emre, Agency, Governance, and Performance in the Securities Industry. Santa Monica, CA: RAND Corporation, 2011. https://www.rand.org/pubs/rgs_dissertations/RGSD284.html.
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This document was submitted as a dissertation in August 2011 in partial fulfillment of the requirements of the doctoral degree in public policy analysis at the Pardee RAND Graduate School. The faculty committee that supervised and approved the dissertation consisted of Charles Wolf (Chair), Steven Garber and Richard Roll.

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