Professor Jonathan Williams

Professor of Banking and Finance

Email: jon.williams@bangor.ac.uk

Office: Hen Goleg

I am Professor of Banking and Finance at Bangor University and Visiting Professor at the University of Turin, Italy, the University of Malta, and ZUFE (Zheijiang University of Finance and Economics), China. I co-direct the Institute of European Finance, am Editor of World Banking Abstracts, and Chair of the European Association of Teachers of Banking and Finance.

My research is comparative in nature. It investigates vital aspects of banking and finance from an economics perspective. Currently, I am examining executive compensation and how incentives implicit in compensation contracts affect bank performance and risk-taking. Some of my previous work sought to measure the effectiveness of public policies, such as, bank privatisation in low and middle-income countries, and the effects of diversification or merger and acquisitions activity on financial firm performance. My interests are wide ranging from the socio-emotional performance of family-owned firms in Mexico, the impact of political patronage on firms' capital structure in Malaysia, the implications of CEO education on bank performance in the US, and the role of a firm's financial profile in predicting whether it will become a buyer or target in Brazil.  

I have presented my research at institutions such as The World Bank and other central banks, and delivered keynote speeches and presentations at events in the UK, Europe and Asia. I am a contributor to major banking sector studies in the EC and UK, and currently participate in a EC Erasmus Plus Capacity Building Program involving universities in Indonesia.

My research helps to inform and contextualise my teaching to bring important issues to students’ attention. I teach at undergraduate and postgraduate levels and supervise doctoral students. My modules are Banks and Financial Markets, Bank Management, and International Banking. Based on student feedback, Bangor University made me an Honorary Fellow for Teaching in 2010.

I am a former Head of Bangor Business School, Director of Bangor Business School London Centre, Managing Director (acting) and Director of North West Wales Management Development Centre. 

I hold and have held a number of external examining positions at universities in the UK and internationally.

Professor Jonathan Williams

Professor of Banking and Finance

Email: jon.williams@bangor.ac.uk

Office: Hen Goleg

Professor Jonathan Williams is Professor of Banking and Finance at Bangor University. Jonathan is Visiting Professor at the University of Turin, Italy, the University of Malta, and ZUFE (Zheijiang University of Finance and Economics), China. 

Jonathan's research applies empirical methods to measure the impact on bank performance outcomes of inter alia public policy, ownership structures, and board-level characteristics. Jonathan has presented his research at institutions, such as, The World Bank and central banks, and delivered keynote speeches at conferences and universities across the world. Jonathan's current interests include executive remuneration, FinTech, and M&A. He is currently participating in OPtBank, a EC Erasmus Plus Capacity Building Program to develop research training involving universities in Indonesia.

Jonathan is a former Head of Bangor Business School. He is a Trustee of Bangor University Pension Scheme, co-director of the Institute of European Finance, Editor of World Banking Abstracts, and Chair of the European Association of Teachers of Banking and Finance. 

• PhD: PhD Economics
  University of Wales, Bangor, 2003

Jonathan uses research-led teaching to inform and contextualise his teaching and to bring contemporary issues to students’ attention. Jonathan was made an Honorary Teaching Fellow in 2010 following his nomination by students. 

Teaching Undergraduate (current)

International Banking (ASB3201)

Banks and Financial Markets (ASB1501/2501)

Bank Management (ASB3525)

Teaching Undergraduate (previous)

Introduction to Banking and Finance

Comparative Banking

Money and Banking

Postgraduate Teaching (current)

International Banking (ASB4411)

Financial Crises and Regulation (ASB9044) - Chartered Banker MBA

Postgraduate Teaching (previous)

International Banking (ASB9042) - Chartered Banker MBA

Banking and Development

Current Issues in International Finance (contributor)

Frontier Analysis (Doctoral Training Programme Workshop for PhD students).

Research Student Supervision

I have supervised twelve research students to successful completion and am an experienced external examiner of PhD candidates at universities in the UK, seveal countries in Europe, and further afield. 

I am willing to accept doctoral students who are interested in banking including the following areas: 

• Culture.
• Executive compensation.
• Corporate social responsibility.
• Green banking and finance.
• Financial inclusion.
• Competition, efficiency and productivity.
• Financial deregulation and policy evaluation.

My research interest is in empirical banking and finance. My research investigates issues of importance for public policy. Currently, I am examining executive compensation and how incentives implicit in compensation contracts affect bank performance and risk-taking. I am also involved in research centred on FinTech, M&As, regional banking and the long-term effects of bank privatisation. My interests are wide ranging and cover the socio-emotional performance of family-owned firms in Mexico, the impact of political patronage on firms' capital structure in Malaysia, the implications of CEO education on bank performance in the US, and the role of a firm's financial profile in predicting whether it will become a buyer or target in M&A deals in Brazil.  

I am willing to accept doctoral students who are interested in banking including the following areas: 

• Culture.
• Executive compensation.
• Corporate social responsibility.
• Green banking and finance.
• Financial inclusion.
• Competition, efficiency and productivity.
• Financial deregulation and policy evaluation.

2021

• PublishedBanks' noninterest income and securities holdings in a low interest rate environment: The case of Italy
  Molyneux, P., Reghezza, A., Torriero, C. & Williams, J., Jan 2021, In: European Financial Management. 27, 1, p. 98-119
  Research output: Contribution to journal › Article › peer-review
• PublishedDo negative interest rates affect bank risk-taking?
  Bongiovanni, A., Reghezza, A., Santamaria, R. & Williams, J., Sep 2021, In: Journal of Empirical Finance . 63, p. 350-364
  Research output: Contribution to journal › Article › peer-review
• PublishedHands in the Cookie Jar: Exploiting Loan Loss Provisions under Bank Financial Distress
  El Diri, M., King, T., Spokeviciute, L. & Williams, J., Dec 2021, In: Economics Letters. 209, 110098.
  Research output: Contribution to journal › Article › peer-review

2020

• PublishedMarket reactions to the implementation of the Banking Union in Europe
  Pancotto, L., ap Gwilym, O. & Williams, J., 23 May 2020, In: European Journal of Finance. 26, 7-8, p. 640-665
  Research output: Contribution to journal › Article › peer-review

2019

• PublishedThe European Bank Recovery and Resolution Directive: A market assessment
  Pancotto, L., ap Gwilym, O. & Williams, J., Oct 2019, In: Journal of Financial Stability. 44
  Research output: Contribution to journal › Article › peer-review
• PublishedThe effect of family control on value and risk-taking in Mexico: A socioemotional wealth approach
  Poletti-Hughes, J. & Williams, J., May 2019, In: International Review of Financial Analysis. 63, p. 369-381 13 p.
  Research output: Contribution to journal › Article › peer-review

2017

• PublishedBank Diversification and Financial Conglomerates in Europe
  Dontis_Charitos, P., Staikouras, S. & Williams, J., 14 Jan 2017, The Palgrave Handbook of European Banking. Beck, T. & Casu, B. (eds.). 1 ed. London: Palgrave Macmillan, p. 49-79 30 p.
  Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

2016

• PublishedDiversification, Size and Risk: the Case of Bank Acquisitions of Nonbank Financial Firms
  Casu, B., Dontis-Charitos, P., Staikouras, S. & Williams, J. M., 1 Mar 2016, In: European Financial Management. 22, 2, p. 235-275
  Research output: Contribution to journal › Article › peer-review
• PublishedWhat’s in an education? Implications of CEO education for bank performance
  King, T., Srivastav, A. & Williams, J., 1 Apr 2016, In: Journal of Corporate Finance. 37, April, p. 287-308
  Research output: Contribution to journal › Article › peer-review

2015

• PublishedElectronic banking
  Williams, J. M. & Cooper, C. L. (ed.), 15 Jun 2015, Blackwell Encyclopedia of Management Volume 4: Finance. 2015 ed. Blackwell Publishing
  Research output: Chapter in Book/Report/Conference proceeding › Chapter

2014

• PublishedBanking in Latin America
  Carim de Carvalho, F. J., de Paula, L. F., Williams, J. M., Berger, A. N. (ed.), Molyneux, P. (ed.) & Wilson, J. (ed.), 27 Nov 2014, The Oxford Handbook of Banking. 2014 ed. Oxford University Press, p. 984-1016
  Research output: Chapter in Book/Report/Conference proceeding › Chapter
• PublishedDealing with cross-firm heterogeneity in bank efficiency estimates: Some evidence from Latin America
  Goddard, J. A., Goddard, J., Molyneux, P. & Williams, J. M., 1 Mar 2014, In: Journal of Banking and Finance. 40, p. 130-142
  Research output: Contribution to journal › Article › peer-review
• PublishedDynamic capital structure and political patronage: The case of Malaysia
  Ebrahim, M. S., Girma, S., Shah, M. E. & Williams, J. M., Jan 2014, In: International Review of Financial Analysis. 31, p. 117-128
  Research output: Contribution to journal › Article › peer-review
• PublishedRationalizing the value premium in emerging markets
  Ebrahim, M. S., Girma, S., Shah, M. E. & Williams, J. M., Mar 2014, In: Journal of International Financial Markets, Institutions and Money. 29, p. 51-70
  Research output: Contribution to journal › Article › peer-review

2013

• PublishedBank efficiency in Latin America
  Molyneux, P., Williams, J. M. & Pasiouras, F. (ed.), 26 Apr 2013, Efficiency and Productivity Growth: Modelling in the Financial Services Industry. 2013 ed. Wiley-Blackwell, p. 1-18
  Research output: Chapter in Book/Report/Conference proceeding › Chapter
• PublishedThe random parameters stochastic frontier cost function and the effectiveness of public policy: Evidence from bank restructuring in Mexico
  Barros, C. P. & Williams, J. M., 1 Dec 2013, In: International Review of Financial Analysis. 30, p. 98-108
  Research output: Contribution to journal › Article › peer-review

2012

• PublishedBank restructuring and bank stability in Latin America
  Vo, N., Williams, J. M., Fernández de Guevara Radoselovics, J. (ed.) & Monsalvez, J. P. (ed.), 15 Dec 2012, Modern Bank Behaviour. 2012 ed. Palgrave Macmillan Publishing, p. 48-67
  Research output: Chapter in Book/Report/Conference proceeding › Chapter
• PublishedEfficiency and market power in Latin American banking
  Williams, J. M., 1 Dec 2012, In: Journal of Financial Stability. 8, 4, p. 263-276
  Research output: Contribution to journal › Article › peer-review

2011

• PublishedThe Luenberger indicator and productivity growth: a note on the European savings banks sector.
  Williams, J. M., Peypoch, N. & Barros, C. P., 1 Mar 2011, In: Applied Economics. 43, 6, p. 747-755
  Research output: Contribution to journal › Article › peer-review

2010

• PublishedA note on productivity change in European cooperative banks: the Luenberger indicator approach.
  Barros, C. P., Peypoch, N. & Williams, J. M., 1 Mar 2010, In: International Review of Applied Economics. 24, 2, p. 137-147
  Research output: Contribution to journal › Article › peer-review
• PublishedWhat does bank financial profile tells us about mergers and acquisitions in Latin American banking?
  Williams, F. C., Williams, J. M., Fiordelisi, F. (ed.), Molyneux, P. (ed.) & Previati, D. (ed.), 1 Jan 2010, New Issues in Financial Institutions Management. 2010 ed. Palgrave Macmillan, p. 153-170
  Research output: Chapter in Book/Report/Conference proceeding › Chapter

2009

• PublishedBanking in Latin America.
  Carvalho, F. J., Paula, L. F., Williams, J. M., Berger, A. N. (ed.), Molyneux, P. (ed.) & Wilson, J. O. (ed.), 1 Jan 2009, The Oxford Handbook of Banking. 2009 ed. Oxford University Press, p. 868-902
  Research output: Chapter in Book/Report/Conference proceeding › Chapter

2008

• PublishedAre European savings banks too small? A comparison of scale economies and scale efficiency.
  Williams, J. M., 1 Jan 2008, In: Journal of Financial Decision Making. 4, 2, p. 45-58
  Research output: Contribution to journal › Article › peer-review
• PublishedBank performance and governance change in Latin America.
  Williams, J. M., 1 Oct 2008.
  Research output: Contribution to conference › Paper
• PublishedDoes ownership explain bank M&A? The case of domestic banks and foreign banks in Brazil.
  Williams, F. C., Williams, J. M., Arestis, P. (ed.) & De Paula, L. F. (ed.), 1 Jan 2008, Financial Liberalization and Economic Performance in Emerging Countries.. 2008 ed. Palgrave Macmillan, p. 194-216
  Research output: Chapter in Book/Report/Conference proceeding › Chapter
• PublishedLa UEM y el Sistema Bancario Europeo.
  Gardener, E. P., Molyneux, P. & Williams, J. M., 1 Jan 2008, In: Papeles de Economica Espanola. 84-85, p. 118-135
  Research output: Contribution to journal › Article › peer-review
• PublishedThe search for value: cross-border bank M&A in emerging markets.
  Williams, J. M. & Liao, A., 1 Jan 2008, In: Comparative Economic Studies. 50, p. 274-296
  Research output: Contribution to journal › Article › peer-review

2007

• PublishedAnalysing the determinants of performance of best and worst European banks: a mixed logit approach.
  Barros, C. P., Ferriera, C. & Williams, J. M., 1 Jul 2007, In: Journal of Banking and Finance. 31, 7, p. 2189-2203
  Research output: Contribution to journal › Article › peer-review
• PublishedBank failure, restructuring-driven and market-driven M&A in Latin America: What can bank financial profile tell us?
  Cardias Williams, F. & Williams, J. M., 1 Sep 2007.
  Research output: Contribution to conference › Paper
• PublishedCross-border bank M&A in emerging markets – value creation or destruction?
  Williams, J. M., Liao, A., Molyneux, P. (ed.) & Vallelado, E. (ed.), 1 Jan 2007, Frontiers of Banks in a Global Economy. 2007 ed. Palgrave Macmillan, p. 59-77
  Research output: Chapter in Book/Report/Conference proceeding › Chapter
• PublishedDoes ownership explain bank M&A? The case of domestic banks and foreign banks in Brazil.
  Cardias Williams, F. & Williams, J. M., 28 Feb 2007.
  Research output: Contribution to conference › Paper
• PublishedThe financial system in Asia and Australia.
  Williams, J. M. & Nguyen, N., 1 Jan 2007, In: Papeles de Economica Espanola. 110, p. 116-144
  Research output: Contribution to journal › Article › peer-review

2006

• PublishedDo win-win outcomes exist? A study of cross-border M&A transactions in emerging markets.
  Williams, J. M., 1 Jun 2006.
  Research output: Contribution to conference › Paper
• PublishedDo win-win outcomes exist? A study of cross-border M&A transactions in emerging markets.
  Williams, J. M., 1 Jan 2006.
  Research output: Contribution to conference › Paper
• PublishedDoes ownership explain bank M&A? The case of domestic banks and foreign banks in Brazil.
  Cardias Williams, F. & Williams, J. M., 3 Nov 2006.
  Research output: Contribution to conference › Paper
• PublishedEl sistema financiero en Asia y Australia.
  Nguyen, N. & Williams, J. M., 1 Jan 2006, In: Papeles de Economica Espanola. 10, p. 116-144
  Research output: Contribution to journal › Article › peer-review
• PublishedHow significant is the alleged unfair advantage enjoyed by state-owned banks in Germany?
  Chakravarty, S. P. & Williams, J. M., 1 Mar 2006, In: Cambridge Journal of Economics. 30, 2, p. 219-226
  Research output: Contribution to journal › Article › peer-review
• PublishedImplications of news asymmetries in foreign exchange markets.
  Williams, J. M., 1 Apr 2006.
  Research output: Contribution to conference › Paper

2005

• PublishedBeginning to think about Need: Public Spending in the Regions.
  Mackay, R. R. & Williams, J. M., 1 Jan 2005, In: Regional Studies. 39, 6, p. 815-828
  Research output: Contribution to journal › Article › peer-review
• PublishedElectronic banking.
  Williams, J. M. & Garrett, I. (ed.), 1 Jan 2005, The Blackwell Encyclopedia of Management – Finance. 2005 ed. Blackwell
  Research output: Chapter in Book/Report/Conference proceeding › Chapter
• PublishedFinancial liberalisation, crisis and restructuring: a comparative study of bank performance and bank governance in South East Asia
  Williams, J. M. & Nguyen, N., 1 Aug 2005, In: Journal of Banking and Finance. 29, 8&9, p. 2119-2154
  Research output: Contribution to journal › Article › peer-review
• PublishedThe Productivity of European Co-operative Banks.
  Molyneux, P. & Williams, J. M., 1 Jan 2005, In: Managerial Finance. 31, 11, p. 26-35
  Research output: Contribution to journal › Article › peer-review

2004

• PublishedDetermining management behaviour in European banking.
  Williams, J. M., 1 Oct 2004, In: Journal of Banking and Finance. 28, 10, p. 2427-2460
  Research output: Contribution to journal › Article › peer-review
• PublishedLiberalisation, ownership, efficiency and productivity issues: A comparative study of South East Asian banking.
  Williams, J. M. & Nguyen, N., 1 May 2004.
  Research output: Contribution to conference › Paper
• PublishedVolatility transmission and changes in stock market interdependence in the European Community.
  Liao, A. & Williams, J. M., 1 Jul 2004, In: European Review of Economics and Finance. 3, 3, p. 203-231
  Research output: Contribution to journal › Article › peer-review

2003

• PublishedA Note on Technical Change in Banking: The Case of European Savings Banks.
  Carbo, S., Gardener, E. P. & Williams, J. M., 1 Jan 2003, In: Applied Economics. 35, 6, p. 705-719
  Research output: Contribution to journal › Article › peer-review
• PublishedCompetitive Banking in the EU and Euroland.
  Gardener, E. P., Molyneux, P., Williams, J. M., Mullineux, A. W. (ed.) & Murinde, V. (ed.), 1 Jan 2003, Handbook of international banking. 2003 ed. Edward Elger, p. 130-156
  Research output: Chapter in Book/Report/Conference proceeding › Chapter
• PublishedDetermining management behaviour in European banking.
  Williams, J. M., 11 Apr 2003.
  Research output: Contribution to conference › Paper
• PublishedLiberalisation, ownership, and efficiency: A comparative study of South East Asian banking.
  Williams, J. M. & Nguyen, N., 1 Nov 2003.
  Research output: Contribution to conference › Paper
• PublishedThe competitiveness of regional banking in the Europe of the euro.
  Williams, J. M. & Donges, J. B. (ed.), 1 Jan 2003, The financial system in the Europe of the euro. 2003 ed. ICO Foundation
  Research output: Chapter in Book/Report/Conference proceeding › Chapter
• PublishedThe efficiency of European regional banking.
  Williams, J. M. & Gardener, E. P., 1 Jun 2003, In: Regional Studies. 37, 4, p. 321-330
  Research output: Contribution to journal › Article › peer-review
• PublishedVolatility transmission and changes in stock market interdependence in the European Community.
  Liao, A. & Williams, J. M., 1 Oct 2003.
  Research output: Contribution to conference › Paper

2002

• PublishedAre European savings banks too small? A comparison of scale economies and scale efficiency.
  Williams, J. M., 4 Jul 2002.
  Research output: Contribution to conference › Paper
• PublishedEfficiency in Banking: Empirical Evidence from the Savings Banks Sector.
  Carbo, S., Gardener, E. P. & Williams, J. M., 1 Mar 2002, In: Manchester School. 70, 2, p. 204-228
  Research output: Contribution to journal › Article › peer-review
• PublishedFinancial liberalisation and the profit efficiency of domestic-owned and foreign-owned banks in Thailand.
  Williams, J. M. & Intarachote, T., 27 Apr 2002.
  Research output: Contribution to conference › Paper
• PublishedMonitoring changes and structural trends in the domestic market for financial services: Interpretational scheme of the system of indicators to be used: preliminary results.
  Williams, J. M., 1 Mar 2002, Unknown.
  Research output: Book/Report › Commissioned report
• PublishedThe monitoring of structural changes and trends in the internal market for financial services.
  Williams, J. M., 1 Oct 2002, Unknown.
  Research output: Book/Report › Commissioned report

2001

• PublishedBad luck or bad management: Management behaviour in European banking.
  Williams, J. M., 1 Sep 2001.
  Research output: Contribution to conference › Paper
• PublishedFinancial deregulation and productivity change in European banking.
  Williams, J. M., 1 Dec 2001, In: Revue de la Banque. p. 470-477
  Research output: Contribution to journal › Article › peer-review
• PublishedInstitutional investment flows and the regions of the UK: a case for a new financial infrastructure?
  Williams, J. M., Gardener, E. (ed.) & Versliys, P. (ed.), 1 Jan 2001, Bank Strategies and Challenges in the New Europe. 2001 ed. Macmillan
  Research output: Chapter in Book/Report/Conference proceeding › Chapter

2000

• PublishedAdaptive strategies by European savings banks: a case study of Spain.
  Carbo, S., Gardener, E. P., Molyneux, P., Williams, J. M., Gardener, E. (ed.) & Falzon, J. (ed.), 1 Jan 2000, Strategic Challenges in European Banking. 2000 ed. Macmillan
  Research output: Chapter in Book/Report/Conference proceeding › Chapter
• PublishedEfficiency and technical change in Europe’s Savings Banks Industry.
  Carbo, S., Gardener, E. P. & Williams, J. M., 1 Jan 2000, In: Revue de la Banque. 64, 6, p. 381-394
  Research output: Contribution to journal › Article › peer-review
• PublishedEfficiency in Banking: empirical evidence from the savings banks sector.
  Williams, J. M. & Gardener, E. P., 1 Jun 2000.
  Research output: Contribution to conference › Paper
• PublishedEfficiency in European Regional Banking.
  Williams, J. M. & Gardener, E. P., 1 Jan 2000.
  Research output: Contribution to conference › Paper
• PublishedStakeholder Value in European Savings Banks.
  Carbo, S., Williams, J. M. & Schuster, L. (ed.), 1 Jan 2000, Shareholder Value Management in Banks. 2000 ed. Macmillan
  Research output: Chapter in Book/Report/Conference proceeding › Chapter
• PublishedThe Size and Growth of Banks: Evidence from Four European Countries.
  Wilson, J. O. & Williams, J. M., 1 Jul 2000, In: Applied Economics. 32, 9, p. 1101-1109
  Research output: Contribution to journal › Article › peer-review

2019

• A response to a consultation on Access to Banking in Wales.

  Provided a response to a consultation on Access to Banking in Wales. http://senedd.assembly.wales/mgConsultationDisplay.aspx?id=354&RPID=1516759536&cp=yes

  10 Apr 2019 – 17 May 2019

  Links:

  • http://senedd.assembly.wales/mgConsultationDisplay.aspx?id=354&RPID=1516759536&cp=yes
  Activity: Types of External academic engagement - Contribution to the work of national or international committees and working groups (Contributor)

• OPTIBANK-Optimizing Research and Doctoral Progr. in Banking and Finance in Indonesian universities

  15/10/2017 – 11/05/2022 (Finished)