Jean Helwege (UC Riverside)

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Jean Helwege

Finance

A seminar by Jean Helwege from RSFAS ANU and also the University of California, Riverside

Title: Disclosure, Runs and Bank Capital Raising

Abstract: Increased disclosure by banks in a crisis may lead to a more precise investor valuation and a lower cost of capital or it could cause a run. We investigate the impact on banks of greater disclosure during the subprime crisis and find that it reduces uncertainty but it also leads to withdrawals by uninsured depositors. We see no evidence that it aids in capital raising but neither does disclosure lead to reduced risk-sharing via the Hirshleifer (1971) effect. The overall impact on bank health is slightly positive, which likely reflects the lower volatility of bank stock returns when disclosure increases.

Start date:

11am Friday, 26 Jul 2019

End date:

12.30pm Friday, 26 Jul 2019

Venue:

CBE LT2

Presenter(s):

Jean Helwege

Updated:   22 July 2019 / Responsible Officer:  CBE Communications and Outreach / Page Contact:  College Web Team