Measuring Reputational Risk: The Market Reaction to Operational Loss Announcements
نویسندگان
چکیده
منابع مشابه
Information asymmetry around operational risk announcements
Operational risk incidences are likely to increase the degree of information asymmetry between firms and investors. We analyze operational risk disclosures by US financial firms during 1995–2009 and their impact on different measures of information asymmetry in the firms’ equity markets. Effective spreads and the price impact of trades are shown to increase around the first announcements of suc...
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Events such as those which occurred in Barings, Daiwa, and Sumitomo helped focus attention on an important type of risk which a bank runs, the operational risk (OR), which encompasses de®ciencies in information systems and internal controls, and includes legal and personnel events that could result in unexpected losses. This type of risk is closely associated with human error, system failure, f...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2005
ISSN: 1556-5068
DOI: 10.2139/ssrn.861364