Money laundering and bank risk: evidence from US banks
Research output: Contribution to journal › Article › peer-review
Electronic versions
Documents
- 2020 Money laundering
Accepted author manuscript, 747 KB, PDF document
Licence: Other
Links
- https://www.bangor.ac.uk/business/research/documents/BBSWP-19-05.pdf
Accepted author manuscript
DOI
We test for a link between bank risk and enforcements issued by US regulators against banks for money laundering (ML) in a sample of 960 publicly listed US banks over 2004-2015. ML-related enforcements are associated with increased bank risk on several measures of risk with the result robust to a variety of estimation methodologies. Moreover, the impact of money laundering on bank risk is accentuated by the presence of powerful CEOs and only partly mitigated by large and independent executive boards.
Keywords
- Bank risk, Money laundering, Bank boards, CEO power, US banks
| Original language | English |
|---|---|
| Pages (from-to) | 4879-4894 |
| Journal | International Journal of Finance and Economics |
| Volume | 26 |
| Issue number | 4 |
| Early online date | 1 Aug 2020 |
| DOIs | |
| Publication status | Published - Oct 2021 |
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