Purpose: Previous research observed that large internal fraud events in the general financial services industry imply negative spillover effects, whereas internal fraud in investment banks can imply significantly positive effects for other banks. This paper aims to shed further light on this...

Purpose: Financial firms announcing large operational losses have empirically been shown to cause significant negative spillover effects in other non-announcing firms in case of the banking and insurance industry. The purpose of this paper is 1) to model such spillover effects in a network from...