Abstract
This paper examines the impact of corporate governance reforms on bank valuation internationally. We find that effective governance significantly enhances bank value, especially when the reform requires separation of CEO and chairman, and when the reform is after the draft of Basel II. The positive effects of board reforms are also affected by bank and country level factors such as bank leverage, stock market development, and economic development, highlighting the need for tailored governance approaches. Our findings emphasize the importance of adapting reforms to local regulatory contexts, drawing insights into recent banking reforms in both developed and emerging markets.