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dc.contributor.authorMehran, Hamiden
dc.contributor.authorMollineaux, Lindsayen
dc.date.accessioned2012-04-18-
dc.date.accessioned2012-08-17T14:33:16Z-
dc.date.available2012-08-17T14:33:16Z-
dc.date.issued2012-
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
dc.language.isoengen
dc.publisher|aFederal Reserve Bank of New York |cNew York, NYen
dc.relation.ispartofseries|aStaff Report |x539en
dc.subject.jelG01en
dc.subject.jelG21en
dc.subject.jelG32en
dc.subject.jelG39en
dc.subject.ddc330en
dc.subject.keywordfinancial institutions, governance, disclosure, information, market discipline, financial crisisen
dc.titleCorporate governance of financial institutions-
dc.typeWorking Paperen
dc.identifier.ppn690197977en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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