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Poor governance can contribute to bank failures, increasing macroeconomic costs and potentially causing sector-wide contagion. This research analyzes how governance, structural, and economic variables influence banking institutions’ financial and economic performance in Portugal. The study uses Z-Score measures of banking risk and insolvency proximity to evaluate model results.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/corporate-governance-and-banking-performance-in-portugal-the-impact-of-variable-z/297090/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/corporate-governance-and-banking-performance-in-portugal-the-impact-of-variable-z/297090.png","ImageObject",300,407,{"name":92,"@type":93},"supergirl","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-09","2026-09-18",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",12,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What is the main objective of the research?","Question",{"text":113,"@type":114},"The research aims to analyze how governance, structure, and economic variables affect the economic and financial performance of Portuguese banking institutions.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How does the Z-Score relate to banking risk?",{"text":118,"@type":114},"The Z-Score is widely used to measure banking risk by estimating a bank’s proximity to insolvency, occurring when asset values cannot meet obligations.",{"name":120,"@type":111,"acceptedAnswer":121},"Which variables are excluded based on the t-student significance test?",{"text":122,"@type":114},"After the t-student significance test, CG, TXINF, and TXJUR are excluded because their p-values are greater than 0.05.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},297090,1789740525,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":140,"language":141,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":142,"faqs":143,"seo_title":144,"seo_description":67,"update_tm":130,"read_time":145,"preview_page_count":4},962088121634,"https://ap-avatar.wpscdn.com/davatar_9964176cb1d06d4a9deccf72a44ae3dc","Vol. 78 | No. 5/1 | May 2022   \nDOI: 10.21506/j. ponte.2022.5.8 International Journal of Sciences and Research  \nCorporate Governance and banking performance in Portugal The impact of variable Z  \nVaz, Angela. (Corresponding Author)  \nU. VIGO, Spain, ISCAP. P.Porto, Portugal, [angelavaz@andradevaz.pt](angelavaz@andradevaz.pt)  \nPereira, Adalmiro  \nISCAP P.Porto, Portugal, [adalmiropereira@mail.telepac.pt](adalmiropereira@mail.telepac.pt)  \nABSTRACT  \nEffective corporate governance practices are essential to achieving and maintaining societal trust in the banking system, which is essential for the smooth functioning of the financial sector and the economy as a whole. Bad Corporate Governance can contribute to bank failures, which in turn can represent significant costs due to their potential impact on the macroeconomic system. Added to this is the risk of contagion to the entire sector, which may, at the limit, jeopardize the financial system, as was evident in the international financial crisis that began in mid-2007. The main objective of the research is to analyze the impact of variables associated with governance, structure and economy in the economic and financial performance of banking institutions in Portugal. The Z-Score is a variable widely used in the literature to measure banking risk (Beltratti & Stulz, 2012; Fu, Lin, & Molyneux, 2014) . More specifically, this indicator measures the proximity to insolvency of a particular bank, which becomes insolvent when the value of its assets is not sufficient to meet its obligations (Wang, 2018) . The model created highlights the negative impact of the variable LNAT and TXINF. If in relation to the latter the reason for being considered as such is perceptible and acceptable, the former raises doubts as to its consistency. and it becomes insolvent when the value of its assets is not enough to meet its obligations (Wang, 2018) . The model created highlights the negative impact of the variable LNAT and TXINF. If in relation to the latter the reason for being considered as such is perceptible and acceptable, the former raises doubts as to its consistency. and it becomes insolvent when the value of its assets is not enough to meet its obligations (Wang, 2018) . The model created highlights the negative impact of the variable LNAT and TXINF. If in relation  \nVol. 78 | No. 5/1 | May 2022   \nDOI: 10.21506/j. ponte.2022.5.8 International Journal of Sciences and Research  \nto the latter the reason for being considered as such is perceptible and acceptable, the former raises doubts as to its consistency.  \nIt is also worth mentioning that when the t-student significance test is performed, the following variables are excluded because their p-value is greater than 0.05: CG, TXINF and TXJUR. We accept CPAT because the p-value is over the threshold even slightly exceeding (0.0548) .  \nKeywords: Corporate Governance, OLS, banks, Z.Score.  \nIntroduction  \nThe concept of Corporate Governance can be approached from two perspectives: the existing literature and official definitions, whose main point of reference is the governance code published by the IPCG (Portuguese Institute of Corporate Governance) . The term appears for the first time in the literature introduced by Richard Eells (1960), emphasizing the analysis of the structure and functioning of business policies.  \nThe investigation carried out for this work allowed us to assess different definitions of Corporate Governance over the years. For example, the Report of the Committee on the Financial Aspects of Corporate Governance in the United Kingdom (Committee on the Financial Aspects of Corporate Governance) defines this topic as the system by which companies are directed and controlled (Cadbury, 1992) . In 2000, Cadbury (Chairman of the aforementioned Committee), in another report, presents a broader definition, in which Corporate Governance is centered on maintaining a balance between economic and social objectives and individual and c","cbCairnztz3Io5db","https://ap.wps.com/l/cbCairnztz3Io5db","pdf",400423,18,"English","# Introduction\n## Corporate Governance: definitions and perspectives\n## Corporate Governance in Portugal and Banco de Portugal’s view\n## Financial intermediation and study scope\n# Objectives and research focus","[{\"question\":\"What is the main objective of the research?\",\"answer\":\"The research aims to analyze how governance, structure, and economic variables affect the economic and financial performance of Portuguese banking institutions.\"},{\"question\":\"How does the Z-Score relate to banking risk?\",\"answer\":\"The Z-Score is widely used to measure banking risk by estimating a bank’s proximity to insolvency, occurring when asset values cannot meet obligations.\"},{\"question\":\"Which variables are excluded based on the t-student significance test?\",\"answer\":\"After the t-student significance test, CG, TXINF, and TXJUR are excluded because their p-values are greater than 0.05.\"}]","Corporate Governance and banking performance in Portugal - The impact of variable Z | PDF",45]