Purpose: Compliance competence is key to the operation and reputation of the financial services sector and is now completely embedded in the way financial services organisations carry on investment business. It is also fundamental to the Financial Services Authority (FSA) in seeking to achieve...

This paper provides an examination of the efficacy of asset-backed securitization as a risk management tool. Interestingly the existing literature does not emphasize how a banks’ securitization activity affects their risk profile. In this study we attempt to fill this gap by...

Are there significant benefits of revenue diversification for banks in emerging economies? This paper investigates the impact of revenue diversification on insolvency risk in emerging economies as measured by the distance to default. Using a panel dataset of 322 listed banks across 22 countries...

This paper investigates the abnormal share return dispersion occurring when companies announce their interim or final earnings. Whereas, prior research has focused on abnormal returns, little attention has been given to investigating the dispersion of the abnormal returns. We find strong...

We investigate whether a relationship exists between ownership structure, revenue diversification and insolvency risk. Using a panel dataset of 158 listed banks across 15 European countries over the period 1995-2006, we provide the first empirical evidence of the impact of (i) ownership...

Are there significant benefits of revenue diversification for banks in emerging economies? This paper investigates the impact of revenue diversification on insolvency risk in emerging economies as measured by the distance to default. Using a panel dataset of 322 listed banks across 22 countries...

With the ongoing change in focus from regulatory capital to economic capital comes a need to reassess banks current practice in disposing of the equity toxic waste produced as a by-product in the asset-backed securitisation process. Financial innovation coupled with the speed of change in...

In this paper we develop the case for the creation of a single financial supervisory and regulatoryauthority for the Russian Federation. This case is based on three criteria:(a) it enables economies of scope to be exploited(b) it ensures regulatory parity(c) it satisfies prudential logicThe risk...

Are there significant benefits of revenue diversification for banks in emerging economies? This paper investigates the impact of revenue diversification on insolvency risk in emerging economies as measured by the distance to default. Using a panel dataset of 322 listed banks across 22 countries...

Motivated by the liberalisation and harmonisation of financial systems in Europe, we investigate whether the observed shift into non-interest income activities improves performance of small European credit institutions. Using a sample of 755 small banks for the period 1997–2003, we find no...