Optimal Reporting Systems in Bank Runs

Gaoqing Zhang, Ronghuo Zheng
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引用次数: 1

Abstract

ABSTRACT We study the role of reporting systems in the context of bank runs. In our model, a bank receives an early but imprecise estimate of its investment performance, and its financial reporting system generates a report. We find that, from a financial-stability standpoint, the optimal reporting system requires full disclosure when the bank’s early estimate is below a certain threshold, but no disclosure otherwise. Importantly, such optimal reporting threshold should be tailored to the bank’s exposure to bank-run risk. In particular, the threshold is nonmonotonic and U-shaped in the bank-run risk. We also relate our results to current accounting standards and discuss their implications for policy-making and empirical research. JEL Classifications: G21; G28; M41; M48.
银行挤兑中的最优报告系统
我们研究报告系统在银行挤兑背景下的作用。在我们的模型中,银行收到对其投资业绩的早期但不精确的估计,其财务报告系统生成报告。我们发现,从金融稳定的角度来看,当银行的早期估计低于某一阈值时,最优报告制度要求充分披露,而在其他情况下则不披露。重要的是,这种最佳报告门槛应根据银行面临的银行挤兑风险进行调整。特别是,银行挤兑风险的阈值是非单调的和u型的。我们还将我们的结果与现行会计准则联系起来,并讨论其对政策制定和实证研究的影响。JEL分类:G21;G28;M41;M48。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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