Market Discipline and Bank Charter Value: The Case of Two Safe Banking Industries

Abstract : This paper analyses the relationship between market discipline and bank charter value using a panel dataset of publicly-listed domestic banks in Australia and Canada over the 1995-2011 periods, with particular focus on the 2007/2008 global financial crisis (GFC). Overall, our results show a positive relationship between market discipline and bank charter value, although this has reduced in the post-GFC period. Furthermore, our findings reveal that in the presence of market discipline, bank capital, contingent liabilities, and non-interest income are important sources of charter value. These findings have important policy implications related to bank safety and soundness. The results are robust to model specification.
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https://hal-unilim.archives-ouvertes.fr/hal-00955135
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  • HAL Id : hal-00955135, version 1

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Mamiza Haq, Amine Tarazi, Necmi Avkiran, Ana Rosa Fonceca. Market Discipline and Bank Charter Value: The Case of Two Safe Banking Industries. 2013. ⟨hal-00955135⟩

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