Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/130785 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Working Paper No. 771
Verlag: 
Queen Mary University of London, School of Economics and Finance, London
Zusammenfassung: 
Annual stress tests have become a regular part of the supervisors' toolkit following the global financial crisis. We investigate their capital market implications in the United States by looking at price and trade reactions, information asymmetry and uncertainty indicators, and bank activities. The evidence we present supports the notion that there is important new information in stress tests, especially at times of financial distress. Moreover, public disclosure seem to help reduce informational asymmetries. Importantly, public disclosure of stress test results (and methodology) does not seem to have reduced private incentives to generate information or to have led to distorted incentives.
Schlagwörter: 
Stress testing
Capital requirements
Public disclosure
Information
JEL: 
G14
G28
G32
Dokumentart: 
Working Paper

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