In this paper, we examine the impact of corporate governance mechanisms on the quality of operational risk disclosures provided in the annual reports and risk reports in a representative sample of 63 publicly listed European banks for the fiscal years 2008 and 2009. We find that banks having a...

Bank CEOs are held personally accountable for firms' performance, including the downside risk. Operational risk is largely idiosyncratic and operational risk event announcements signal flaws in banks' internal control systems and ineffective risk management. We examine the impact of operational...

Bank CEOs are held personally accountable for firms' performance, including the downside risk. Operational risk is idiosyncratic and operational risk event announcements signal ineffective risk management. We examine the impact of operational risk announcements on different components of U.S....