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Three essays on banks’ operational risk disclosures in the European Union: the role of informal institutions, and the association with performance
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Resumo(s)
This dissertation contributes with new findings regarding the relationship between both, informal institutions and performance, and operational risk disclosures in the European Union banking industry. The first essay concludes that, in higher individualism and long-term orientation countries, voluntary operational risk disclosures are of higher quality for regional/local banks, where managers haven’t developed a global mindset. The second essay shows that in countries with higher religiosity there is more compliance with regard to mandatory operational risk disclosures. Finally, the third essay finds that voluntary operational risk disclosures are used by banks’ management as a legitimizing tool to compensate for low performance, and that higher disclosure has a positive impact on market performance.
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Palavras-chave
Operational risk disclosures E.U. banking industry Informal institutions Performance