A Longitudinal Disaggregation of Operational Risk under Changing Regulations: Evidence from the Savings and Loan Industry
A study examines the relative contributions of prospect and agency theory explanations for specific operational risks and subsequent firm performance in regulated and unregulated environments. Specifically, the study simultaneously models competing theoretical explanations for risk using 3 distinct realized operational risks managed by savings and loan (S&L) firms. It then examines the effects of these risks on performance. Implications of the study argue for a mesotheoretic approach to the modeling of risk and for its disaggregation into distinct risk choices.
|Main Author:||Catanach, Anthony|
|Other Authors:||Wiseman, Robert|