dc.contributor.author Haddad, Christian
dc.description.abstract This study investigates the relationship between board risk oversight practices at financial institutions in the EU and systemic risk during the sovereign debt crisis. More specifically, we examine whether European banks and insurance companies that had strong board-level risk oversight in place before the onset of the sovereign debt crisis fared better during the crisis. We construct a risk oversight index based on publicly available, hand-collected data, which captures the strength of the institutions’ board-level risk governance practices. We find that financial institutions with stronger board risk oversight prior to the crisis were less vulnerable to the sovereign debt crisis, after controlling for other factors. The results are consistent and economically relevant for SRISK, probability of default, and Delta-CoVaR, three measures of systemic risk that are commonly used in the context of financial institutions. en_US
dc.title The importance of board risk oversight in times of crisis en_US
dc.identifier.journal Journal of Financial Services Research en_US
dc.contributor.department Univ. Lille, ULR 4112 - LUMEN, 1 place Déliot - BP381, 59020, Lille Cedex, France en_US
dc.contributor.department Excelia Business School, CRIIM, Centre de Recherche en Intelligence et Innovation Managériales, 102 Rue de Coureilles, 17000, La Rochelle, France en_US
vlerick.knowledgedomain Special Industries : Financial Services Management en_US
vlerick.vlerickdepartment CFSM en_US