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The effects of violating banking regulations on the financial performance of the US banking industry

机译：违反银行业法规对美国银行业财务业绩的影响

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Purpose – The purpose of this paper is to examine the effects of corporate illegality on financial performance within the banking industry, in order to assess whether the regulatory framework is effective in curbing violations. Design/methodology/approach – The operating performance of 84 publicly traded US banks that were subject to enforcement actions from US regulatory authorities over a 20-year period were examined. Performance of each violating bank was analyzed several quarters after each violation and compared to a performance benchmark of non-violating competitors. Findings – Contrary to prior studies that show a negative effect of illegality on performance, the results of this investigation failed to show any significant and sustained effect of enforcement actions. This could be due to the unique situation of the banking industry. Nevertheless, the degree of impact depended on firm attributes, as smaller and riskier firms were affected more than others. Research limitations/implications – The paper is restricted to the US market, which is characterized by a special regulatory framework. Future research could investigate the issue in other markets. Also, this study does not differentiate with respect to the type of violation or seriousness of offense. Future studies could control for those issues. Practical implications – The results of this study shed some insight on the effectiveness of regulations in the banking industry and suggest that regulators and policy makers should tighten-up the sanctions and speed-up the process. Originality/value – This paper differs from other studies that investigate the effect of illegality on financial performance by focusing on a single and highly regulated industry that has unique characteristics.
机译：目的–本文的目的是研究公司违法行为对银行业内部财务绩效的影响，以便评估监管框架在遏制违规行为方面是否有效。设计/方法/方法–审查了84家美国上市银行的经营绩效，这些银行在20年内受到美国监管机构的强制执行。在每次违规后的几个季度对每个违规银行的绩效进行分析，并将其与非违规竞争对手的绩效基准进行比较。调查结果–与先前的研究显示违法行为对绩效产生负面影响相反，该调查的结果未能显示出执法行动的任何重大和持续影响。这可能是由于银行业的独特情况。但是，影响的程度取决于公司的属性，因为规模较小，风险较高的公司受影响最大。研究的局限性/意义–本文仅限于美国市场，该市场具有特殊的监管框架。未来的研究可能会调查其他市场中的问题。同样，本研究在违规类型或违法严重性方面也没有区别。未来的研究可以控制这些问题。实际意义–这项研究的结果使人们对银行业监管的有效性有了一些见识，并建议监管机构和政策制定者应加强制裁并加快这一过程。原创性/价值–本文不同于其他研究，这些研究通过关注具有独特特征的单一且受到严格监管的行业来调查非法行为对财务绩效的影响。

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