{"id":"https://openalex.org/W1985135132","doi":"https://doi.org/10.1080/13518471003638625","title":"Market discipline in the banking industry: evidence from spread dispersion","display_name":"Market discipline in the banking industry: evidence from spread dispersion","publication_year":2010,"publication_date":"2010-04-17","ids":{"openalex":"https://openalex.org/W1985135132","doi":"https://doi.org/10.1080/13518471003638625","mag":"1985135132"},"language":"en","primary_location":{"id":"doi:10.1080/13518471003638625","doi":"https://doi.org/10.1080/13518471003638625","is_oa":false,"landing_page_url":"https://doi.org/10.1080/13518471003638625","pdf_url":null,"source":{"id":"https://openalex.org/S82316188","display_name":"European Journal of Finance","issn_l":"1351-847X","issn":["1351-847X","1466-4364"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The European Journal of Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1030295_code629430.pdf?abstractid=1030295&mirid=5","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5109859090","display_name":"Giuliano Iannotta","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I71209653","display_name":"Bocconi University","ror":"https://ror.org/05crjpb27","country_code":"IT","type":"education","lineage":["https://openalex.org/I71209653"]}],"countries":["IT"],"is_corresponding":true,"raw_author_name":"Giuliano Iannotta","raw_affiliation_strings":["Department of Finance, CAREFIN and Universit\u00e0 Bocconi, Via Roentgen 1, 20136, Milano, Italy"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Finance, CAREFIN and Universit\u00e0 Bocconi, Via Roentgen 1, 20136, Milano, Italy","institution_ids":["https://openalex.org/I71209653"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5109859090"],"corresponding_institution_ids":["https://openalex.org/I71209653"],"apc_list":null,"apc_paid":null,"fwci":2.7768,"has_fulltext":false,"cited_by_count":20,"citation_normalized_percentile":{"value":0.9160299,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":96},"biblio":{"volume":"17","issue":"2","first_page":"111","last_page":"131"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11496","display_name":"Credit Risk and Financial Regulations","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11496","display_name":"Credit Risk and Financial Regulations","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.0012000000569969416,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/market-discipline","display_name":"market discipline","score":0.8809999823570251},{"id":"https://openalex.org/keywords/bank-bonds","display_name":"bank bonds","score":0.6930000185966492},{"id":"https://openalex.org/keywords/hidden-information","display_name":"hidden information","score":0.8370000123977661},{"id":"https://openalex.org/keywords/bond-pricing","display_name":"bond pricing","score":0.7360000014305115},{"id":"https://openalex.org/keywords/credit-ratings","display_name":"credit ratings","score":0.4950000047683716},{"id":"https://openalex.org/keywords/subordinated-debt","display_name":"subordinated debt","score":0.8360000252723694},{"id":"https://openalex.org/keywords/bond-maturity","display_name":"bond maturity","score":0.5529999732971191},{"id":"https://openalex.org/keywords/heteroscedastic-regression","display_name":"heteroscedastic regression","score":0.6669999957084656}],"concepts":[{"id":"https://openalex.org/C2777402642","wikidata":"https://www.wikidata.org/wiki/Q2557224","display_name":"Explanatory power","level":2,"score":0.7550841569900513},{"id":"https://openalex.org/C177562468","wikidata":"https://www.wikidata.org/wiki/Q182893","display_name":"Dispersion (optics)","level":2,"score":0.6115015745162964},{"id":"https://openalex.org/C2778655473","wikidata":"https://www.wikidata.org/wiki/Q681615","display_name":"Syndicate","level":2,"score":0.5892053842544556},{"id":"https://openalex.org/C101433766","wikidata":"https://www.wikidata.org/wiki/Q3543263","display_name":"Maturity (psychological)","level":2,"score":0.5807452201843262},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.5379043817520142},{"id":"https://openalex.org/C101104100","wikidata":"https://www.wikidata.org/wiki/Q1063540","display_name":"Heteroscedasticity","level":2,"score":0.5319692492485046},{"id":"https://openalex.org/C69738904","wikidata":"https://www.wikidata.org/wiki/Q11693","display_name":"Bond","level":2,"score":0.48984310030937195},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.47384077310562134},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.46209755539894104},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4608359932899475},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4525761008262634},{"id":"https://openalex.org/C32959826","wikidata":"https://www.wikidata.org/wiki/Q2361268","display_name":"Bond valuation","level":3,"score":0.42612871527671814},{"id":"https://openalex.org/C152877465","wikidata":"https://www.wikidata.org/wiki/Q208042","display_name":"Regression analysis","level":2,"score":0.42605292797088623},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.41423875093460083},{"id":"https://openalex.org/C175025494","wikidata":"https://www.wikidata.org/wiki/Q179179","display_name":"Interest rate","level":2,"score":0.2219841480255127},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.1574845314025879},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.102215975522995},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.0},{"id":"https://openalex.org/C120665830","wikidata":"https://www.wikidata.org/wiki/Q14620","display_name":"Optics","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C138496976","wikidata":"https://www.wikidata.org/wiki/Q175002","display_name":"Developmental psychology","level":1,"score":0.0},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1080/13518471003638625","doi":"https://doi.org/10.1080/13518471003638625","is_oa":false,"landing_page_url":"https://doi.org/10.1080/13518471003638625","pdf_url":null,"source":{"id":"https://openalex.org/S82316188","display_name":"European Journal of Finance","issn_l":"1351-847X","issn":["1351-847X","1466-4364"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The European Journal of Finance","raw_type":"journal-article"},{"id":"mag:3124462703","doi":null,"is_oa":false,"landing_page_url":"https://econpapers.repec.org/RePEc:fip:fedhpr:1096","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"mag:3125730545","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1030295_code629430.pdf?abstractid=1030295&mirid=5","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"pmh:oai:RePEc:taf:eurjfi:v:17:y:2011:i:2:p:111-131","doi":null,"is_oa":false,"landing_page_url":"http://www.tandfonline.com/doi/abs/10.1080/13518471003638625","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:iris.unibocconi.it:11565/3718166","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/11565/3718166","pdf_url":null,"source":{"id":"https://openalex.org/S7407055170","display_name":"Archivio istituzionale della Ricerca - Bocconi","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":{"id":"mag:3125730545","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1030295_code629430.pdf?abstractid=1030295&mirid=5","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":45,"referenced_works":["https://openalex.org/W7847007","https://openalex.org/W1481700022","https://openalex.org/W1490757898","https://openalex.org/W1503151797","https://openalex.org/W1536294431","https://openalex.org/W1546758628","https://openalex.org/W1554682149","https://openalex.org/W1577661240","https://openalex.org/W1975314818","https://openalex.org/W1976162410","https://openalex.org/W1985315577","https://openalex.org/W1998641731","https://openalex.org/W2003478586","https://openalex.org/W2006449618","https://openalex.org/W2017826184","https://openalex.org/W2029736082","https://openalex.org/W2058404065","https://openalex.org/W2091957067","https://openalex.org/W2108491286","https://openalex.org/W2115304159","https://openalex.org/W2130184489","https://openalex.org/W2132862309","https://openalex.org/W2141122836","https://openalex.org/W2145012330","https://openalex.org/W2145535031","https://openalex.org/W2149906223","https://openalex.org/W2153101019","https://openalex.org/W2159761692","https://openalex.org/W2250717322","https://openalex.org/W2462908967","https://openalex.org/W2889590150","https://openalex.org/W3023883240","https://openalex.org/W3121135700","https://openalex.org/W3121518668","https://openalex.org/W3121867267","https://openalex.org/W3121877964","https://openalex.org/W3122368406","https://openalex.org/W3122710337","https://openalex.org/W3123465809","https://openalex.org/W3123652708","https://openalex.org/W3124934917","https://openalex.org/W3125276712","https://openalex.org/W3125948922","https://openalex.org/W4230306088","https://openalex.org/W6634451378"],"related_works":["https://openalex.org/W7095650189","https://openalex.org/W3015390412","https://openalex.org/W2115304159","https://openalex.org/W3122710337","https://openalex.org/W1490757898","https://openalex.org/W7098812445","https://openalex.org/W7095659559","https://openalex.org/W7097045835","https://openalex.org/W3123731372","https://openalex.org/W4414056319"],"abstract_inverted_index":{"Do":[0],"bond":[1,55],"investors":[2,75],"price":[3,76],"hidden":[4,77,109],"information?":[5],"To":[6],"address":[7],"this":[8],"question,":[9],"we":[10],"use":[11],"a":[12],"heteroscedastic":[13],"regression":[14],"model":[15],"to":[16,107],"empirically":[17],"examine":[18],"the":[19,22,42,50,53,90,96,104],"factors":[20],"affecting":[21],"spread":[23,51,81],"dispersion":[24,82],"unexplained":[25,80],"by":[26],"easy-to-observe":[27],"issue":[28],"characteristics":[29,102],"(such":[30],"as":[31],"credit":[32],"ratings,":[33],"size,":[34],"maturity,":[35],"etc.).":[36],"Two":[37],"main":[38],"results":[39],"emerge":[40],"from":[41],"empirical":[43],"analysis.":[44],"First,":[45],"variables":[46],"that":[47,74,99],"accurately":[48],"predict":[49],"of":[52,92],"typical":[54],"lose":[56],"their":[57],"explanatory":[58],"power":[59],"for":[60,84],"worse-rated,":[61],"subordinated":[62],"bonds":[63],"with":[64,89],"longer":[65],"maturity":[66],"and":[67,87],"smaller":[68],"face":[69],"value.":[70],"This":[71],"result":[72],"suggests":[73],"information.":[78,110],"Secondly,":[79],"increases":[83],"open-priced":[85],"offers":[86],"decreases":[88],"number":[91],"banks":[93],"involved":[94],"in":[95],"syndicate,":[97],"indicating":[98],"primary":[100],"market":[101],"affect":[103],"investors\u2019":[105],"ability":[106],"uncover":[108]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":2},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}