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Consequences of Bank Stress Test Dis...

Schmidt, Brent A.,

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Consequences of Bank Stress Test Disclosures /

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Consequences of Bank Stress Test Disclosures // Brent A Schmidt.
作者:	Schmidt, Brent A.,
面頁冊數:	1 electronic resource (107 pages)
附註:	Source: Dissertations Abstracts International, Volume: 81-06, Section: A.
Contained By:	Dissertations Abstracts International81-06A.
標題:	Investments. -
電子資源:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=27692240
ISBN:	9781392654170

Consequences of Bank Stress Test Disclosures /
Schmidt, Brent A.,

Consequences of Bank Stress Test Disclosures /Brent A Schmidt. - 1 electronic resource (107 pages)

Source: Dissertations Abstracts International, Volume: 81-06, Section: A.

Whether bank stress test results should be disclosed has been debated since the financial crisis. Prior studies examining the effects of stress testing conflate the effects of stress testing per se and the effects of stress test disclosures. I utilize a novel setting to isolate the effects of stress test disclosures on bank risk taking and financial stability. My results show that stress test disclosures lead to banks increasing their risk taking (i.e., lowering their tier 1 capital ratios) by increasing their risk-weighted assets. I provide evidence consistent with stress test disclosures leading to heighted market discipline of bank risk taking via the pricing of banks' equity in the capital markets. My results further suggest that stress test disclosures lead to banks taking more profitable risks. Finally, I show that stress test disclosures improve bank stability. Overall, my study suggests that stress test disclosures are beneficial along the dimension I examine. These results inform the debate regarding whether stress test results should be publicly disclosed and the broader debate regarding the effects of bank transparency on financial stability.

English

ISBN: 9781392654170Subjects--Topical Terms:

566987
Investments.
Subjects--Index Terms:

Bank stress test results

Consequences of Bank Stress Test Disclosures /
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500 $a Committee members: Beatty, Anne; Kerr, Jon; Roulstone, Darren; Van Buskirk, Andy.
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520 $a Whether bank stress test results should be disclosed has been debated since the financial crisis. Prior studies examining the effects of stress testing conflate the effects of stress testing per se and the effects of stress test disclosures. I utilize a novel setting to isolate the effects of stress test disclosures on bank risk taking and financial stability. My results show that stress test disclosures lead to banks increasing their risk taking (i.e., lowering their tier 1 capital ratios) by increasing their risk-weighted assets. I provide evidence consistent with stress test disclosures leading to heighted market discipline of bank risk taking via the pricing of banks' equity in the capital markets. My results further suggest that stress test disclosures lead to banks taking more profitable risks. Finally, I show that stress test disclosures improve bank stability. Overall, my study suggests that stress test disclosures are beneficial along the dimension I examine. These results inform the debate regarding whether stress test results should be publicly disclosed and the broader debate regarding the effects of bank transparency on financial stability.
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650 4 $a Investments. $3 566987
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650 4 $a Confidentiality. $3 736289
650 4 $a Prices. $3 652651
650 4 $a Research design. $3 3695179
650 4 $a Investors. $3 3544951
653 $a Bank stress test results
653 $a Bank risk taking
653 $a Financial stability
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