Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 2018 erstellt
Beschreibung:
We examine whether examiners were informed and contributed to the health of the banking sector. Information included quantitative information that was eventually made public, quantitative information that remained private, and subjective information dependent on the examiner's production of additional, “soft” information that informed examiner assessments of the quality of bank assets and management. All three types of information were useful for gauging the condition of the bank, and affected bank behavior, including a publicly observable signal (skipping a dividend payment). Participants in the market for bank liabilities reacted to this signal in ways that promoted market discipline