The faces of "market discipline"

被引：133

作者：

Flannery, MJ ^{[1
]}

机构：

[1] Univ Florida, Gainesville, FL 32611 USA

来源：

JOURNAL OF FINANCIAL SERVICES RESEARCH | 2001年 / 20卷 / 2-3期

关键词：

regulation; security prices; subordinated debt;

D O I：

10.1023/A:1012455806431

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Although "market discipline" has become a more popular notion among academics, bankers, and supervisors. the exact meaning of this term remains imprecise. The phrase is commonly used to incorporate two distinct phenomena: market investors' ability to monitor (identify) changes in bank condition vs. their ability to influence a firm's actions. This is an important distinction, which clarifies how market information might be incorporated into the supervisory process.

引用

页码：107 / 119

页数：13

共 44 条

[1] Further evidence on the information content of bank examination ratings: A study of BHC-to-FHC conversion applications [J].