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Predicting Financial Distress in a High-Stress Financial World: The Role of Option Prices as Bank Risk Metrics

Coffinet, Jérôme; Pop, Adrian; Tiesset, Muriel - HAL - 2010

The current financial crisis offers a unique opportunity to investigate the leading properties of market indicators in a stressed environment and their usefulness from a banking supervision perspective. One pool of relevant information that has been little explored in the empirical literature is...

Persistent link: https://www.econbiz.de/10008793854

Did the Market Signal Impending Problems at Northern Rock? An Analysis of Four Financial Instruments

Hamalainen, Paul; Pop, Adrian; Hall, Max; Howcroft, Barry - HAL - 2010

The academic literature has regularly argued that market discipline can support regulatory authority mechanisms in ensuring banking sector stability. This includes, amongst other things, using forward-looking market prices to identify those credit institutions that are most at risk of failure....

Persistent link: https://www.econbiz.de/10008794740

Argument en faveur d'une politique de dette subordonnée obligatoire

Pop, Adrian - HAL - 2006

Cet article se concentre sur les propositions de dette subordonnée obligatoire comme instrument de discipline de marché. Une Politique de Dette Subordonnée (PDS) se définit comme une exigence réglementaire formelle par laquelle les grandes banques sont obligées d'émettre régulièrement...

Persistent link: https://www.econbiz.de/10008794776

Market structure, financial intermediation and riskiness of banks:Evidence from Asia Pacific

Soedarmono, Wahyoe; Tarazi, Amine - HAL - 2014

From a sample of commercial banks in Asia Pacific over the 1994-2009 period, this study highlights that banks in less competitive markets exhibit lower loan growth and higher instability. Such instability is further followed by a decline in deposit growth, suggesting that Asian banks are also...

Persistent link: https://www.econbiz.de/10010899326

Market Discipline and Bank Charter Value: The Case of Two Safe Banking Industries

Haq, Mamiza; Tarazi, Amine; Avkiran, Necmi; Fonceca, … - HAL - 2013

This paper analyses the relationship between market discipline and bank charter value using a panel dataset of publicly-listed domestic banks in Australia and Canada over the 1995-2011 periods, with particular focus on the 2007/2008 global financial crisis (GFC). Overall, our results show a...

Persistent link: https://www.econbiz.de/10010899406

The Quality of Private Monitoring in European Banking: Completing the Picture

Pop, Adrian; Pop, Diana - HAL - 2012

The philosophy behind the debt market discipline approach to banking regulation presumes that the pricing of bank debt securities, if accurate, conveys reliable signals to supervisors. In this paper, we take a critical look at the feasibility of such an approach by exploring empirically the...

Persistent link: https://www.econbiz.de/10010899649

Financial Regulation in the Crisis Regulation, Market Discipline, Internal Control: The Big Three in turmoil

Couppey-Soubeyran, Jézabel - HAL - 2010

The financial crisis has revealed the dysfunction of all banking and financial regulatory mechanisms. Prudential regulation failed to prevent the meltdown. Market discipline neglected to send any warning signals. Internal control was seriously undermined by doubtful dealings, in France as...

Persistent link: https://www.econbiz.de/10010635228

Understanding and Monitoring Reinsurance Counterparty Risk

Gatumel, Mathieu; Forges, Sabine Lemoyne De - HAL - 2013

We introduce a new measure of risk appetite in financial markets, based on the cross sectional behavior of excess returns. Turning them into probabilities through a Markov Switching model, we define one global risk appetite measure as the cross-sectional average of the individual probabilities...

Persistent link: https://www.econbiz.de/10011026048

Opening the "black box" How internal reporting systems contribute to the quality of financial disclosure

Cavelius, Florence - HAL - 2011

investments. The purpose of this paper is to open the "black box" of the construction of financial disclosure by analyzing the …, the quality of the financial disclosure and the internal reporting systems are measured, and analyzed with a view to … finding some links between them. It is expected that the quality of disclosure is dependent on the quality of the internal …

Persistent link: https://www.econbiz.de/10010820808

An Experiment in the Economic Consequences of Additional Disclosure: The Case of the Fair Value of Unlisted Equity Investments

Ding, Yuan; Jeanjean, Thomas; Lesage, Cédric; Stolowy, … - HAL - 2009

We investigate the economic consequences of additional disclosure about assets with no active market in terms of … value 24 investments. We manipulate the level of disclosure on the fair value of assets (Limited versus Full), the …. Full) disclosure, participants are given a point estimate for the fair value of the investment (resp. plus a range of …

Persistent link: https://www.econbiz.de/10008791819