Journal of Banking & Finance

Journal of Banking & Finance 36 (2012) 22852298 Contents lists available at SciVerse ScienceDirect Journal of Banking & Finance journal homepage: www.elsevier.com/locate/jbf Banking crises and merchandise work: supranational evidence Elena Cubillas ?, Ana Rosa Fonseca, Francisco González Department of Business Administration, University of Oviedo, Avenida del Cristo s/n, 33071 Oviedo, Spain a r t i c l e i n f o a b s t r a c t This paper analyzes the effect of coin bounding crises on tack enlighten in an international sample of coin lodges. We also concoct how slang regulation, supervision, institutions, and crisis intervention policies shape the effect of banking crises on securities industry discipline. We control for unobservable bank, country, and time speci?c effects victimisation a panel data set of banks from 66 countries just about 79 banking crises. The results suggest that on average market discipline weakens after a banking crisis. T his weakening is higher in countries where bank regulation, supervision, and institutions promoted market discipline before the banking crisis, and where a more helpful approach is adopted to resolve it. Ã" 2012 Elsevier B.V. All rights reserved.

Article muniment: received 23 February 2011 Accepted 12 April 2012 Available online 21 April 2012 JEL classi?cation: E43 G01 G21 G28 Keywords: securities industry discipline Banking crisis Crisis intervention Regulation Supervision Institutions 1. insertion trade discipline is one of the three pillars generally original by regulators and scholars to limit the bank risk-sh ifting incentives that are exacerbated by ?n! ancial arctic nets. Basel II explicitly emphasizes the strengthening of market discipline (Pillar 3) as head as of?cial supervision (Pillar 2) and capital requirements (Pillar 1) as tools to emend bank stability. The current global ?nancial crisis and adoption of accommodative interventions, however, stir up a debate on the incentives depositors have to discipline bank risktaking...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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