Is the Journey more Important than the Destination? EU Accession and Corporate Governance and Performance of Banks

Mehmet Maksud Onal; John K. Ashton

doi:10.1111/jcms.13198

Is the Journey more Important than the Destination? EU Accession and Corporate Governance and Performance of Banks

Mehmet Maksud Onal, John K. Ashton^*

^*Corresponding author for this work

Management

Research output: Contribution to journal › Article › peer-review

Abstract

This article examines how accession to and subsequent membership of the EU has influenced the dissemination of corporate governance characteristics and the financial performance of the banking industry. Using a hand-collected, cross-national dataset from EU member and candidate states the analysis indicates the candidacy period is associated with the better financial performance of banks than the latter period of EU membership. EU membership also has a significant negative influence on adopting some corporate governance arrangements. We infer this result is consistent with instrumental rationality explanations of Europeanization. While the process of accession has brought benefits, these are not always reinforced by subsequent EU membership.

Original language	English
Pages (from-to)	1516-1535
Number of pages	20
Journal	Journal of Common Market Studies
Volume	59
Issue number	6
DOIs	https://doi.org/10.1111/jcms.13198
Publication status	Published - 13 May 2021

Bibliographical note

Publisher Copyright:
© 2021 The Authors. JCMS: Journal of Common Market Studies published by University Association for Contemporary European Studies and John Wiley & Sons Ltd.

Keywords

accession
corporate governance
institutions

Access to Document

10.1111/jcms.13198Licence: CC BY

jcms.13198
© 2021 The Authors.
Final published version, 222 KBLicence: CC BY

Cite this

@article{532240bb27c54477816c578a05f7e648,

title = "Is the Journey more Important than the Destination? EU Accession and Corporate Governance and Performance of Banks",

abstract = "This article examines how accession to and subsequent membership of the EU has influenced the dissemination of corporate governance characteristics and the financial performance of the banking industry. Using a hand-collected, cross-national dataset from EU member and candidate states the analysis indicates the candidacy period is associated with the better financial performance of banks than the latter period of EU membership. EU membership also has a significant negative influence on adopting some corporate governance arrangements. We infer this result is consistent with instrumental rationality explanations of Europeanization. While the process of accession has brought benefits, these are not always reinforced by subsequent EU membership.",

keywords = "accession, corporate governance, institutions",

author = "Onal, {Mehmet Maksud} and Ashton, {John K.}",

note = "Publisher Copyright: {\textcopyright} 2021 The Authors. JCMS: Journal of Common Market Studies published by University Association for Contemporary European Studies and John Wiley & Sons Ltd.",

year = "2021",

month = may,

day = "13",

doi = "10.1111/jcms.13198",

language = "English",

volume = "59",

pages = "1516--1535",

journal = "Journal of Common Market Studies",

issn = "0021-9886",

publisher = "Wiley-Blackwell",

number = "6",

}

TY - JOUR

T1 - Is the Journey more Important than the Destination? EU Accession and Corporate Governance and Performance of Banks

AU - Onal, Mehmet Maksud

AU - Ashton, John K.

PY - 2021/5/13

Y1 - 2021/5/13

N2 - This article examines how accession to and subsequent membership of the EU has influenced the dissemination of corporate governance characteristics and the financial performance of the banking industry. Using a hand-collected, cross-national dataset from EU member and candidate states the analysis indicates the candidacy period is associated with the better financial performance of banks than the latter period of EU membership. EU membership also has a significant negative influence on adopting some corporate governance arrangements. We infer this result is consistent with instrumental rationality explanations of Europeanization. While the process of accession has brought benefits, these are not always reinforced by subsequent EU membership.

AB - This article examines how accession to and subsequent membership of the EU has influenced the dissemination of corporate governance characteristics and the financial performance of the banking industry. Using a hand-collected, cross-national dataset from EU member and candidate states the analysis indicates the candidacy period is associated with the better financial performance of banks than the latter period of EU membership. EU membership also has a significant negative influence on adopting some corporate governance arrangements. We infer this result is consistent with instrumental rationality explanations of Europeanization. While the process of accession has brought benefits, these are not always reinforced by subsequent EU membership.

KW - accession

KW - corporate governance

KW - institutions

UR - http://www.scopus.com/inward/record.url?scp=85105682534&partnerID=8YFLogxK

U2 - 10.1111/jcms.13198

DO - 10.1111/jcms.13198

M3 - Article

AN - SCOPUS:85105682534

SN - 0021-9886

VL - 59

SP - 1516

EP - 1535

JO - Journal of Common Market Studies

JF - Journal of Common Market Studies

IS - 6

ER -

Is the Journey more Important than the Destination? EU Accession and Corporate Governance and Performance of Banks

Abstract

Bibliographical note

Keywords

Access to Document

Other files and links

Cite this