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Do the media capture banking system risk? Evidence from the EU-15 countries

机译:媒体是否抓住银行系统的风险?欧盟15国的证据

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The economic and financial crisis has highlighted the failure of banking authorities in capturing all the elements and information needed to ensure effective and sound regulation, supervision and risk management of the banking sector. Mass media are a potentially highly effective mechanism of external control on banking system. Our paper addresses a central question: do the media play a role in grabbing the banking risk-taking behaviour? Using the text-analysis technique, we develop two indices of risk coverage in relation to banking and economic issues for the EU-15 zone countries between 1998 and 2015. Then we 'test on field' both indices in relation to banking asset quality, and we find that for several countries, they are positively correlated with the financial stability indicator; on the other hand, we do not observe a widespread trend reversal which would reveal a 'watchdog' role of the media on banking riskiness.
机译:经济和金融危机突出表明,银行当局未能掌握确保银行业有效,健全的监管,监督和风险管理所需的所有要素和信息。大众媒体是银行系统外部控制的潜在高效机制。我们的论文解决了一个中心问题:媒体是否在抓住银行冒险行为中发挥作用?使用文本分析技术,我们为1998年至2015年之间的EU-15开发区国家/地区开发了与银行和经济问题相关的两个风险覆盖率指标。然后,我们对银行资产质量的两个指标进行了“实地测试”,并且我们发现,对于一些国家,它们与金融稳定指标呈正相关;另一方面,我们没有观察到广泛的趋势反转,这种趋势反转揭示了媒体对银行风险的“监督”作用。

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