This study examines the impact of the quality of board members’ educational background on the financial performance of a group of Eurozone banks. Return on average assets (ROAA), Return on average equity (ROAE), and Tobin’s Q are used as measures to assess bank financial performance. Three indices are used as proxies for board members’ educational qualifications: Eduindex, for all academic qualifications in areas such as business or economics; Eduversal, for all qualifications from business schools ranked by Eduniversal; and EduFT, for all qualifications from business schools ranked by the Financial Times. Our study results offer relevant policy implications. Generally, there is a significant negative effect from Eduversal and EduFT qualifications on bank financial performance. This effect can be explained by the fact that some well-qualified board members use their expertise for their own interest, which, in most cases, is not favourable for bank financial performance. The implication is that the European Central Bank needs to implement more rigorous measures than those currently imposed to control bank board member behaviour and reduce agency problems.

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董事会成员的教育背景和财务业绩：来自欧元区银行的证据

本研究考察了董事会成员的教育背景质量对一组欧元区银行财务业绩的影响。平均资产回报率 (ROAA)、平均股本回报率 (ROAE) 和 Tobin's Q 被用作评估银行财务绩效的指标。三个指数被用作董事会成员教育资格的代表：Eduindex，用于商业或经济学等领域的所有学历；Eduversal，获得由 Eduniversal 排名的商学院的所有资格证书；和 EduFT，获得英国《金融时报》排名的商学院的所有资格证书。我们的研究结果提供了相关的政策启示。一般来说，Eduversal 和 EduFT 资格对银行财务业绩有显着的负面影响。这种影响可以解释为一些合格的董事会成员为了自己的利益而使用他们的专业知识，这在大多数情况下不利于银行的财务业绩。这意味着欧洲中央银行需要实施比目前实施的措施更严格的措施来控制银行董事会成员的行为并减少代理问题。