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| Author: | Hamalainen, P. Hall, M. Howcroft, B. |
| Title: | A framework for market discipline in bank regulatory design |
| Journal: | Journal of Business Finance and Accounting
2005 : VOL. 32:1-2, p. 183-210 |
| Index terms: | |
| Freeterms: | Bank regulation Mandatory subordinated debt Market discipline Regulatory design |
| Language: | eng |
| Abstract: | The first objective of this article is to contextualise the issues surrounding bank market discipline. Accordingly, the article raises awareness of the current key themes within incentive-based regulatory design and anaylses the theory work of market discipline. This causes the creation of a theoretical framework of market discipline, which offers a powerful tool for understanding the conditions necessary for effective market discipline and for assessing the findings of market discipline-related empirical research. The second objective is to emphasise the suitability of the theoretical framework for debates on contemporary market discipline and aiding the future bank regulatory police design, in particular, how to incorporate suitable, incentive mechanisms in international banking regulation. |
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