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DESCRIPTION: \nDesautels Faculty of Management\nStrategy & Organization Are
 a\npresents recruiting candidate:\nLori Yue\nColumbia University\nTuesday\
 , December 8\, 2009\n10:00AM - 11:30AM\nRoom: Bronfman 620\n \nABSTRACT\nS
 elf-governance among commercial banks in Manhattan\,\n1840-1980\nI study t
 he conditions for the effectiveness of industry\nself-governance in solvin
 g the problem of the commons and thus\naffecting the survival chances of o
 rganizations. I find that the\nNew York Clearing House Association (NYCHA)
 \, a self-governing\ninstitution among banks\, was successful in imposing 
 self-regulation\nand organizing cooperative arrangements before the incept
 ion of\ngovernment regulation systems. Using the population of commercial
 \nbanks in Manhattan from 1840 to 1980\, I find that banks that\nparticipa
 ted in the NYCHA had a significantly lower failure rate. I\nargue that the
  effectiveness of the self-governance hinged on its\nnature as a city-base
 d coalition that included a relatively small\nnumber of densely-connected 
 banks. Especially\, elite bankers’\naffiliations with elite clubs in New Y
 ork constituted a network\nthat enabled the function of self-governance. I
 n support of the\nargument\, I find that the density of elite bankers’ net
 work had\nsignificant moderating effects on the effectiveness of the NYCHA
  in\nreducing member banks’ failure rates and their operational risks.\nTh
 is self-governance lost its efficacy after the government\nactively interv
 ened with the governance of banking. But the\ngovernment’s safety-nets int
 roduced a moral hazard problem\, in that\nbanks that participated in gover
 nment institutions tended to be\nmore risk-taking. I discuss contributions
  of this paper to a\nsynthesis of institutional\, community\, and ecologic
 al perspectives\,\nand the implications for banking regulation.\n
DTSTART:20091208T150000Z
DTEND:20091208T163000Z
SUMMARY:Strategy & Organization Area Recruiting Candidate
URL:/channels/event/strategy-organization-area-recruit
 ing-candidate-112658
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