The Reputational Effects of Narrative Disclosures in Operational Risk Announcements
Bayley, Joel (2015) The Reputational Effects of Narrative Disclosures in Operational Risk Announcements. [Dissertation (University of Nottingham only)]
The content of the first press cuttings regarding operational risk announcements following an operational loss event is likely to affect the level of reputational damage incurred by the institutions suffering the loss. The profile of operational risk has increased in recent decades becoming one of the major risks in the finance industry. Following increasing literature on operational events, reputational risk as a result of operational loss events has become a growing area of research. This paper analyses the content of operational loss announcements in order to assess whether the content has an effect on the level of reputational damage measured by any stock market decrease greater than the operational loss itself.
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