Corporate Governance and Access to Finance - ESBG

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- Mersland, R., & Strøm, R. Ø. (2008b). Performance and trade-offs inmicrofinance organizations – does ownership matter? Journal ofInternational Development, 20 20, 598–612 (2008).- Micco, A., Panizza, Y and Yañez, M. (2007): Bank ownership andperformance. Does politics matter? Journal of Banking & Finance 31,219–241.- Mullineux, Andy and Eva Terberger (2006): The British BankingSystem: A good role model for Germany?, Anglo-German Foundationfor the Study of Industrial Society, June 2006.- Mülbert, Peter O. (2010): Corporate Governance of banks after thefinancial crisis, European Corporate Governance Institute (ECGI),Law Working Paper N. 130/2009.- OECD (2005). OECD Guidelines of Corporate Governance of State-Owned Enterprises.- OECD (2004). OECD Principles on Corporate Governance.- Oliver Wyman (2008), Cooperative Bank: Customer Champion.- Omran, Mohammed (2007) Privatization, State Ownership, and BankPerformance in Egypt. World Development Vol. 35, No. 4, pp. 714–733.- Penrose, Lord (2004), Report of the Equitable Life Enquiry, H MTreasury, London, March.- Polo, A. (2007): “Corporate governance of banks: the current state ofthe debate”, ICFAI Journal of banking Law. October.- Rudolph (2009): State Financial Institutions. Mandates, Governanceand Beyond, World Bank, Policy Research WP 5141.- Sapienza, Paola. 2004. The Effects of Government Ownership on BankLending. Journal of Financial Economics. 72(2): 357-384.- Scher, M.J (2001): Postal Savings and the Provision of FinancialServices: Policy Issues and Asian Experiences in the Use of the PostalInfrastructure for Savings Mobilization. DESA discussion paper 22.- Shleifer A. and R. Vishny (1997). “A Survey of Corporate Governance”Journal of Finance, vol. 52, 2, pp. 737-783.- The World Bank (2006): The Role of Postal Networks in ExpandingAccess to Financial Services. Volume I. Discussion Paper. November 2006.Global Information and Communication Technologies Department.- Tirole, J.(2001) “Corporate Governance,” Econometrica, 69 (1), 1-35.- Walker Review (2009): A review of corporate governance in UK banksand other financial industry entities.- Weizsaker et. al (2004): Limits to privatization. How to avoid too muchof a good thing, A Report to the Club of Rome.- World Bank (2006) The Role of Postal Networks in Expanding Accessto Financial Services. Volume I. Discussion paper. November 2006.168
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BoxesBox 1. German Sparkassen 27Box
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EXECUTIVE SUMMARYBackground and obj
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nnAccess to Finance in enshrined in
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Chart A.Corporate Governance, Acces
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nThe study also shows that Corporat
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1. INTRODUCTION1.1. Focus and objec
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WSBI members are by definition acco
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For the particular case of developi
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2. THE LINK BETWEENCORPORATE GOVERN
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Table 2. Main features of the Missi
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Access to financeSparkassen promote
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All these examples illustrate how p
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In the case of Peru, the profits th
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Among the WSBI institutions that re
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BOX 2. KENYA POST OFFICE SAVINGS BA
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The fact that the banking system is
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3. CORPORATE GOVERNANCE -CONCEPTUAL
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Figure 2. Sound Governance of Finan
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As can be seen in the figure above,
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nnnAt the same time, the distance a
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The first two elements (the ownersh
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nHowever, this does not mean denyin
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Cooperatives are similar to mutuals
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3.4. FoundationsFoundations do not
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3.5. Good Corporate Governance prac
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F. DISCLOSURE AND TRANSPARENCYPrinc
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4. ACCESS TO FINANCE -CONCEPTUAL FR
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4.1. Financial deepening and improv
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The board does not have any executi
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In other words, sustainable financi
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The following table shows how the W
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The fourth dimension refers to the
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Table 8. Access to Finance in the f
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Only 27 members established in 21 c
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nnDCI (Depth of credit information
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5.2. Corporate Governance and Acces
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5.2.1. Corporate Governance and Ave
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Chart 8.Specific Corporate Governan
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5.2.2. Corporate Governance and Ave
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Chart 13. Corporate Governance comp
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Chart 16. Corporate Governance Inde
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Chart 19. Specific Corporate Govern
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ANNEX 1: REVIEW OFTHE LITERATUREThe
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Even among the relatively narrow un
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Figure A.1. Structure of agents' re
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The table captures the essence of s
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A case study built by Clarke et al
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A very recent contribution to the d
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For example, in Latin America, WSBI
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The paper examines whether a poor e
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For the survival of microfinance in
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ANNEX 2: CASE STUDIES 32CASE STUDY
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It is one of the major characterist
Page 117 and 118: Although Sparkassen are legally and
Page 119 and 120: Figure A.2. Corporate Loans Market
Page 121 and 122: Financial education is also an impo
Page 123 and 124: Corporate GovernanceKPOSB is wholly
Page 125 and 126: Among the initiatives that the gove
Page 127 and 128: Related to the concession of credit
Page 129 and 130: OPERATIONS1. Deposit Base: It was p
Page 131 and 132: Corporate GovernanceThe Central Ban
Page 133 and 134: To address the problem of capital,
Page 135 and 136: Financial inclusion ranges very hig
Page 137 and 138: CASE STUDY 4:SPANISH SAVINGS BANKS
Page 139 and 140: The uniform financial regulation of
Page 141 and 142: Figure A.3. Governing Bodies - Span
Page 143 and 144: The web-based tool www.rededucacion
Page 145 and 146: On the liability side, CMAC offer m
Page 147 and 148: A specificity of CMAC is that the m
Page 149 and 150: Table A.3.MissionMissionCMAC AREQUI
Page 151 and 152: As of September of 2009, the twelve
Page 153 and 154: Furthermore, the consensus culture
Page 155 and 156: ANNEX 3: QUESTIONNAIREQUESTIONI. Ge
Page 157 and 158: ANNEX 4:THE HONOHAN INDEX 43COMPOSI
Page 159 and 160: COMPOSITE MEASURE OF ACCESS TO FINA
Page 161 and 162: ANNEX 5:QUANTITATIVE RESULTSCountry
Page 163 and 164: Overall Corporate Governance IndexO
Page 165 and 166: REFERENCES- Andrianova, S., Demetri
Page 167: - FSD Kenya (2009), Financial Secto
Page 172: WSBI - ESBG - The Global Voice of S
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