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Fundamentals of market discipline and custody risk management

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  • Coskun, Yener

Abstract

The importance of market discipline has been rapidly growing at both the regulatory and market levels in recent decades. However, firm/system-wide financial failures during the global financial crisis supported the idea of more regulation. The result has been, in the author’s view, excessive or over-regulation at the expense of market discipline and its proven insights. This paper asks whether market discipline could provide an effective tool for firm/system-wide risk management. As an extension of the existing market discipline literature, the paper also attempts to analyse connections between market discipline, disclosure and management of custody risks.

Suggested Citation

  • Coskun, Yener, 2016. "Fundamentals of market discipline and custody risk management," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 8(2), pages 163-175, March.
    • Handle: RePEc:aza:jsoc00:y:2016:v:8:i:2:p:163-175
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    More about this item

    Keywords

    market discipline; risk management; crisis; failure JEL codes: D81; G32; H12;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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