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New experience from voluntary risk disclosure: operational risk in Nordic banks
Linnaeus University, School of Business and Economics, Department of Management Accounting and Logistics. (Corporate Governance)
2014 (English)In: The Journal of Financial Management, Markets and Institutions, ISSN 2282-717X, Vol. 2, no 1, 105-126 p.Article in journal (Refereed) Published
Abstract [en]

Basel II simultaneously introduced a regulatory framework for operational risk and shifted the regulatoryfocus from top-down to bottom-up governance, prompting increased reliance on self-evaluation andmarket discipline. In this paper we assess the relevance of market discipline to regulation of operationalrisk and the implications of voluntary disclosure. We study the development, determinants and quality ofoperational risk disclosure in the Nordic banking sector following the implementation of Basel II. Ourresults reveal that the extent of disclosure has increased and that size is the main determinant. However,the quality of operational risk disclosure is poor and it does not assist stakeholders’ evaluation of banks’operational risk. Based on our results, we discuss whether disclosure studies can capture quality in terms ofcontent, the impact of regulation on banks of different sizes and whether market discipline is an effectiveregulatory effort to reduce bank risk.

Place, publisher, year, edition, pages
Società editrice il Mulino , 2014. Vol. 2, no 1, 105-126 p.
Keyword [en]
Operational risk, Voluntary disclosure, Basel II, Nordic banks
National Category
Business Administration Economics
Research subject
Economy, Business administration; Economy, Economics
Identifiers
URN: urn:nbn:se:lnu:diva-32072DOI: 10.12831/77239OAI: oai:DiVA.org:lnu-32072DiVA: diva2:742772
Available from: 2014-09-02 Created: 2014-02-05 Last updated: 2015-01-16Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf