Precision of Public Information Disclosures, Banks' Stability, and Welfare

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-07-19 DOI:10.1111/jmcb.13194

DIEGO MORENO, TUOMAS TAKALO

引用次数: 0

Abstract

Consider a bank which chooses an asset portfolio and then, upon the public disclosure of the results of a review of its quality, raises funds by offering a repayment promise. We show that increasing the precision of information about the quality of the bank's assets lowers the cost of funding of a sound bank and encourages it to take risk. Maximum stability is reached in an opaque environment. Maximum surplus is reached in an opaque (transparent) environment when the social costs of bank failure are large (small). We examine how these conclusions change under alternative information and contractual conditions.

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公共信息披露的精度、银行的稳定性和福利

考虑一家银行，该银行选择一个资产组合，然后在公开披露资产质量审查结果后，通过提供还款承诺来筹集资金。我们的研究表明，提高银行资产质量信息的精确度可以降低稳健银行的融资成本，并鼓励其承担风险。在不透明的环境中达到最大稳定性。当银行倒闭的社会成本较大（较小）时，在不透明（透明）环境中会出现最大盈余。我们研究了这些结论在其他信息和合同条件下的变化情况。

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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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.