دانلود مقاله ISI انگلیسی شماره 134896
ترجمه فارسی عنوان مقاله

شواهد اضافی در مورد شفافیت و عملکرد مالی بانک

عنوان انگلیسی
Additional evidence on transparency and bank financial performance
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
134896 2017 28 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Review of Financial Economics, Volume 32, January 2017, Pages 1-6

پیش نمایش مقاله
پیش نمایش مقاله  شواهد اضافی در مورد شفافیت و عملکرد مالی بانک

چکیده انگلیسی

Transparency expands the market for a firm's stock and lowers the cost of capital. Previous research measures bank transparency by analyst following and the standard deviation of analyst earnings per share forecasts and finds that transparency has a positive effect on bank financial performance. An earlier theoretical study in the market micro structure literature suggests that return volatility and trading volume are important measures of transparency. We examine the relation between transparency and bank holding company (BHC) profit efficiency using these four measures of transparency for 1996 through 2014. Our two stage least squares regression analysis indicates that transparency has a positive effect on bank financial performance. This is not a size effect as the result holds in each of three size categories. This is an important finding given that the recent financial crisis was characterized by a lack of transparency at a number of banking institutions.