Abstract

  


 



Reputational Risk and Operating Losses: An Empirical Analysis on Listed Banks


Paola Schwizer


University of Parma

Maria-Gaia Soana


University of Rome (Tor Vergata)

Gabriele Maucci


UniCredit Group

Daniele Ruspantini


UniCredit Group
December 1, 2010

Bancaria No. 11-2010

Abstract:     
This paper assesses the reputational impact of announced operational losses for a sample of 163 listed financial companies from 1994 to 2008.

Measurement of reputational losses is carried out using the event study methodology.

The results show that fraud is the event type that generates the biggest reputational damage. Reputational losses taking place in Europe appear higher than those taking place in America. Finally the article illustrates UniCredit Group’s management and control of reputational risk.

Keywords: Reputational Losses, Operational Losses, Banks, Event Study

JEL Classification: G14, G21, G22, G28

Accepted Paper Series


Date posted: January 9, 2011  

Suggested Citation

Schwizer, Paola, Soana, Maria-Gaia, Maucci, Gabriele and Ruspantini, Daniele, Reputational Risk and Operating Losses: An Empirical Analysis on Listed Banks (December 1, 2010). Bancaria No. 11-2010. Available at SSRN: http://ssrn.com/abstract=1737203

Contact Information

Paola Schwizer (Contact Author)
University of Parma ( email )
Via J.F. Kennedy 6
Parma, 43100
Italy
Maria-Gaia Soana
University of Rome (Tor Vergata) ( email )
via Columbia 2
Rome, IA Rom 00133
Italy
Gabriele Maucci
UniCredit Group ( email )
Via Andegari, 12
Milan, 20122
Italy
Daniele Ruspantini
UniCredit Group ( email )
Via Andegari, 12
Milan, 20122
Italy
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