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dc.contributor.authorMehran, Hamiden_US
dc.contributor.authorMollineaux, Lindsayen_US
dc.date.accessioned2012-04-18en_US
dc.date.accessioned2012-08-17T14:33:16Z-
dc.date.available2012-08-17T14:33:16Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/60777-
dc.description.abstractWe identify the tension created by the dual demands of financial institutions to be value-maximizing entities that also serve the public interest. We highlight the importance of information in addressing the public's desire for banks to be safe yet innovative. Regulators can choose several approaches to increase market discipline and information production. First, they can mandate information production outside of markets through increased regulatory disclosure. Second, they can directly motivate potential producers of information by changing their incentives. Traditional approaches to bank governance may interfere with the information content of prices. Thus, the lack of transparency in the banking industry may be a symptom rather than the primary cause of bad governance. We provide the examples of compensation and resolution. Reforms that promote the quality of security prices through information production can improve the governance of financial institutions. Future research is needed to examine the interactions between disclosure, information, and governance.en_US
dc.language.isoengen_US
dc.publisherFederal Reserve Bank of New York New York, NYen_US
dc.relation.ispartofseriesStaff Report, Federal Reserve Bank of New York 539en_US
dc.subject.jelG01en_US
dc.subject.jelG21en_US
dc.subject.jelG32en_US
dc.subject.jelG39en_US
dc.subject.ddc330en_US
dc.subject.keywordfinancial institutions, governance, disclosure, information, market discipline, financial crisisen_US
dc.titleCorporate governance of financial institutionsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn690197977en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Staff Reports, Federal Reserve Bank of New York

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