The faces of "market discipline"

被引：128
|
作者：
Flannery, MJ [1 ]
机构：
[1] Univ Florida, Gainesville, FL 32611 USA
来源：
JOURNAL OF FINANCIAL SERVICES RESEARCH | 2001年 / 20卷 / 2-3期
关键词：
regulation; security prices; subordinated debt;
D O I：
10.1023/A:1012455806431
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Although "market discipline" has become a more popular notion among academics, bankers, and supervisors. the exact meaning of this term remains imprecise. The phrase is commonly used to incorporate two distinct phenomena: market investors' ability to monitor (identify) changes in bank condition vs. their ability to influence a firm's actions. This is an important distinction, which clarifies how market information might be incorporated into the supervisory process.
引用
收藏
页码：107 / 119
页数：13
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