文章基本信息

标题：The financial services reform act and Australian bank risk
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作者：Bernard Bollen ; Michael Skully ; Xiaoting Wei 等
期刊名称：Banks and Bank Systems
印刷版ISSN：1816-7403
电子版ISSN：1991-7074
出版年度：2010
卷号：5
期号：1
页码：58-64
语种：English
出版社：LLC "CPC "Business Perspectives"
摘要：This paper examines changes in the risk of eight Australian banks following the introduction of the Financial Services Reform Act of 2001 in Australia. This legislation introduced a new licensing regime into Australian finance and extended it to cover all financial services providers. It,among other things,required specialized staff training for specific positions of customer interaction as well as the mandatory and continuous disclosure of all fees and charges as well as the risks associated with financial products offered to the public. Using daily prices and the market model over a five-year sample period (2001 to 2006) we found different reactions between the larger and smaller banks. It provides some evidence that the larger banks may have reduced their level of systematic risk. In contrast,the smaller banks either experienced no change,or in one case perhaps a slight increase. These differences may reflect the degree of change required with their complying with the Act. The larger banks,which already had extensive staff training operations in place,were better placed to meet these new requirements,whereas the smaller banks required a greater relative investment in their initial and ongoing compliance. These results remain robust to the impact of the 2002 dot com stock market downturn.
关键词：bank risk;banking;Australia;regulation