Journal ArticleDOI
The Market Reaction to the Disclosure of Supervisory Actions: Implications for Bank Transparency
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This paper examined the stock market reaction to announcements of formal supervisory actions and found that the variation in the quality and timeliness of disclosure by U.S. banks explains much of the variation of the market's reactions.About:
This article is published in Journal of Financial Intermediation.The article was published on 2000-07-01. It has received 140 citations till now. The article focuses on the topics: Transparency (market) & Spillover effect.read more
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Journal ArticleDOI
The institutional memory hypothesis and the procyclicality of bank lending behavior
TL;DR: The institutional memory hypothesis as mentioned in this paper suggests that deterioration in the ability of loan officers over the bank's lending cycle that results in an easing of credit standards may explain the procyclicality of bank lending.
Journal ArticleDOI
Organizational Transparency A New Perspective on Managing Trust in Organization-Stakeholder Relationships
TL;DR: In this paper, the authors synthesize prior research to advance a conceptual definition of transparency and articulate its dimensions, and posit how transparency contributes to trust in organization-stakeholder relationships.
Journal ArticleDOI
Market Evidence on the Opaqueness of Banking Firms' Assets
TL;DR: The authors assess the market microstructure properties of U.S. banking firms to determine whether they exhibit more or less evidence of asset opaqueness than similar-sized non-banking firms.
BookDOI
Finance for Growth: Policy Choices in a Volatile World
Patrick Honohan,Gerard Caprio +1 more
TL;DR: The overall impact of financial globalization on the domestic financial sector is profound as mentioned in this paper, and the consequences have not been uniformly favorable, as domestic interest rates in developing countries have moved to a premium over industrial country rates, and can surge at times of currency speculation.
Journal Article
What Is Systemic Risk, and Do Bank Regulators Retard or Contribute to It?
TL;DR: Systemic risk refers to the risk or probability of breakdowns in an entire system, as opposed to failure in individual parts or components, and is evidenced by comovements (correlation) among most or all the parts as mentioned in this paper.
References
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Journal ArticleDOI
Using daily stock returns: The case of event studies
TL;DR: In this paper, the authors examine properties of daily stock returns and how the particular characteristics of these data affect event study methodologies and show that recognition of autocorrelation in daily excess returns and changes in their variance conditional on an event can sometimes be advantageous.
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The Benefits of Lending Relationships: Evidence from Small Business Data
TL;DR: In this article, the authors empirically examined how ties between a firm and its creditors affect the availability and cost of funds to the firm and found that the primary benefit of building close ties with an institutional creditor is that the availability of financing increases.
Journal ArticleDOI
Why Bank Credit Policies Fluctuate: A Theory and Some Evidence
TL;DR: In this article, the authors argue that rational bank managers with short horizons will set credit policies that influence and are influenced by other banks and demand side conditions, leading to a theory of low frequency business cycles driven by bank credit policies.
Journal ArticleDOI
Evidence of Bank Market Discipline in Subordinated Debenture Yields: 1983-1991
TL;DR: The authors examine debenture yields over the period 1983-1991 to evaluate the market's sensitivity to bank-specific risks, and conclude that investors have rationally reflected changes in the government's policy toward absorbing private losses in the event of a bank failure.
Posted Content
Comparing market and supervisory assessments of bank performance: who knows what when?
TL;DR: In this article, the authors compare the timeliness and accuracy of government supervisors versus market participants in assessing the condition of large U.S. bank holding companies and find that supervisory assessments are much less accurate overall than both bond and equity market assessments in predicting future changes in performance, but supervisors may be more accurate when inspections are recent.