François Guillemin is presenting "Transparency and market discipline: evidence from the Russian interbank market" at the Research Seminar of HSE School of Finance
Event ended
CInSt Research Fellow François Guillemin is presenting his paper at the Research Seminar on Empirical Studies of Banking oraganised by HSE School of Finance.
Transparency and market discipline: evidence from the Russian interbank market
François Guillemin (CInSt HSE)
Abstract
This paper investigates the role of bank voluntary disclosure, as a source of information about risk, in the interbank market. Using the data on 179 largest Russian banks over the period of 2004-2013 we test the sensitivity of interbank loans and deposits to various transparency indices such as those disclosing risk, board composition, or even corporate events. We show that larger but riskier banks – at least in terms of credit risk - behave more transparently and disclose more. The article is also the first to show evidence that the ability to attract funds in the interbank market is positively correlated with transparency levels. This result is stable for various aspects of disclosure.
Key words: banks, interbank market, disclosure, transparency, banking governance
Date and time: May 30, 2018; 6:10 PM
Place: 26 Shabolovka street; room 3231
Language: English
Free entrance.
If you don't have an HSE ID, please request it via nis.banki@yandex.ru или nfdyachkova@gmail.com before 11 AM, May 29.
Date
30 May
18:10