Fundamentals of market discipline and custody risk management

Yener Coskun ()

Journal of Securities Operations & Custody, 2016, vol. 8, issue 2, 163-175

Abstract: The importance of market discipline has been rapidly growing at both the regulatory and market levels in recent decades. However, firm/system-wide financial failures during the global financial crisis supported the idea of more regulation. The result has been, in the author’s view, excessive or over-regulation at the expense of market discipline and its proven insights. This paper asks whether market discipline could provide an effective tool for firm/system-wide risk management. As an extension of the existing market discipline literature, the paper also attempts to analyse connections between market discipline, disclosure and management of custody risks.

Keywords: market discipline; risk management; crisis; failure JEL codes: D81; G32; H12 (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2016:v:8:i:2:p:163-175

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