A new book, Governance of Financial Institutions (Oxford University Press, 2019) was launched at the Commercial Law Centre on 14 May.

The book is edited by Professor Danny Busch (Senior Research Fellow at Harris Manchester College) along with Professors Guido Ferrarini and Gerard van Solinge, and features contributions by others affiliated with the Centre,  Paul Davies  (also Senior Research Fellow at HMC).

At the launch a number of speakers, including Professor Luca Enriques, Professor John Thanassoulis, Simon Gleeson, Professor Guido Ferrarini and Professor Danny Busch, spoke on topics arising from the book. Particular attention was paid to aspects of firm culture, the subject of Part IV of the book. Indicia of “good” culture, capable of some degree of measurement by researchers, were identified and discussed. Attention then turned to whether such facets of corporate culture could be meaningfully regulated by law, and the potential for perverse incentives to arise from such regulation. There was agreement that this aspect of bank governance was undoubtedly highly significant in practice, and that further research could usefully build upon the foundations laid by Governance of Financial Institutions to illuminate the options available to policymakers.