Watchdogs or Petdogs: The role of media freedom on banking system stability

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

Pacific-Basin Finance Journal Pub Date : 2024-08-17 DOI:10.1016/j.pacfin.2024.102499

My Nguyen , Ama Samarasinghe , Michael Skully

引用次数: 0

Abstract

This paper documents a positive impact of media freedom on bank stability at both bank- and systemic- levels. The results are robust after addressing endogeneity concerns as well as macroeconomic and regulatory factors that impact the association between media freedom and bank stability. We further find that greater media freedom diffuses more information about intermediaries to depositors, incentivising them to discipline and limit bank risk-taking activities. Media freedom also exerts a greater influence on bank stability in more developed countries. Overall, our results highlight the importance of media freedom in enhancing individual bank and systemic stability around the world.

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看门狗还是宠物狗？媒体自由对银行体系稳定的作用

本文记录了媒体自由在银行和系统层面对银行稳定性的积极影响。在解决了内生性问题以及影响媒体自由与银行稳定性之间联系的宏观经济和监管因素之后，结果是稳健的。我们进一步发现，媒体自由度越高，存款人就会获得更多关于中介机构的信息，从而激励他们约束和限制银行的风险承担活动。在更发达的国家，媒体自由对银行稳定性的影响也更大。总体而言，我们的研究结果凸显了媒体自由在增强全球单个银行和系统稳定性方面的重要性。

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

Pacific-Basin Finance Journal BUSINESS, FINANCE-

CiteScore

6.80

自引率

6.50%

发文量

157

期刊介绍： The Pacific-Basin Finance Journal is aimed at providing a specialized forum for the publication of academic research on capital markets of the Asia-Pacific countries. Primary emphasis will be placed on the highest quality empirical and theoretical research in the following areas: • Market Micro-structure; • Investment and Portfolio Management; • Theories of Market Equilibrium; • Valuation of Financial and Real Assets; • Behavior of Asset Prices in Financial Sectors; • Normative Theory of Financial Management; • Capital Markets of Development; • Market Mechanisms.