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dc.contributor.authorBarakat, Ahmed
dc.contributor.authorAshby, Simon
dc.contributor.authorFenn, Paul
dc.contributor.authorBryce, Cormac
dc.date.accessioned2019-04-26T11:47:02Z
dc.date.available2019-04-26T11:47:02Z
dc.date.issued2019en_US
dc.identifier.issn0378-4266
dc.identifier.doi10.1016/j.jbankfin.2018.10.007
dc.identifier.urihttp://hdl.handle.net/20.500.12127/6301
dc.description.abstractOperational risk announcements are unexpected adverse media news that potentially harm the reputation of financial institutions. This paper examines the equity-based and debt-based reputational effects of financial sentiment tones in operational risk announcements and shows how such reputational effects are moderated by alternative sources of public information. Our analysis reveals that the net negative tone and litigious tone have adverse reputational effects, and the uncertainty tone mitigates the adverse reputational impact. Additionally, alternative, simultaneous sources of information neutralize the reputational effects of textual tones. First, third-party information about the event (i.e. regulatory announcements and final settlements) dissolves the favorable (adverse) reputational impact of the uncertainty tone (litigious tone). Second, loss amount disclosure and firm recognition substitute the reputational effects of the net negative tone and uncertainty tone only in Anglo-Saxon countries and market-based economies. Overall, our findings indicate that the reputational effects of the media materialize most when there is lack of certain, quantifiable and regulated public information about the operational risk event.en_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.subjectContent Analysisen_US
dc.subjectFinancial Sentimenten_US
dc.subjectMedia Newsen_US
dc.subjectOperational Risken_US
dc.subjectReputational Risken_US
dc.subjectTextual Toneen_US
dc.titleOperational risk and reputation in financial institutions: Does media tone make a difference?en_US
refterms.dateFOA2019-04-26T11:47:03Z
dc.identifier.journalJournal of Banking & Financeen_US
dc.source.volume98en_US
dc.source.beginpage1en_US
dc.source.endpage24en_US
dc.contributor.departmentFinance, Risk and Banking Division, Nottingham University Business School, University of Nottingham, United Kingdomen_US
dc.contributor.departmentPlymouth Business School, Faculty of Business, Plymouth University, United Kingdomen_US
dc.contributor.departmentCity, University of London, Cass Business School, Faculty of Actuarial Science and Insurance, United Kingdomen_US
vlerick.knowledgedomainAccounting & Financeen_US
vlerick.knowledgedomainSpecial Industries : Financial Services Managementen_US
vlerick.typearticleVlerick strategic journal article
vlerick.vlerickdepartmentAFen_US
dc.identifier.vperid258194en_US


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