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Faculté et Recherche

Banks' disclosure choices in the presence of adverse selection and runs

17 juin
2022
14H00 - 15H30
Jouy-en-Josas

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2022-06-17T14:00:00 2022-06-17T15:30:00 Banks' disclosure choices in the presence of adverse selection and runs Accounting and Management Control Speaker: Lucas Mahieux (Tilburg University) Room: T004 Jouy-en-Josas

Département Comptabilité-Contrôle de Gestion

Invité : Lucas Mahieux (Tilburg University)    

Salle T004

Abstract :

We present a theory of bank disclosure in which banks face both adverse selection and bank run risk. In our model, banks disclose information to reduce adverse selection in credit markets, but information disclosure can also trigger inefficient bank runs. We show that the level of disclosure chosen by banks and the associated probability of a run have parallel behaviors as a function of bank profitability. Moreover, the optimal level of bank disclosure exhibits an inverse-U shape against profitability. In addition, when the bank run risk is large, the disclosure level decreases and may become conservative. Conservatism makes bad news less informative, which may help prevent bank runs. Our model also provides several regulatory implications and is consistent with recent empirical findings.

 

 

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Ajouter au calendrier
2022-06-17T14:00:00 2022-06-17T15:30:00 Banks' disclosure choices in the presence of adverse selection and runs Accounting and Management Control Speaker: Lucas Mahieux (Tilburg University) Room: T004 Jouy-en-Josas