Operational risk, the legal system and governance indicators: a country-level analysis
L Li, I Moosa - Applied Economics, 2015 - Taylor & Francis
L Li, I Moosa
Applied Economics, 2015•Taylor & FrancisA total of 4388 operational loss events recorded over three decades in 53 countries are
analysed on a country level in terms of the size of the economy, the standard of living, the
legal system, the regional factor and six governance indicators. The results show that the
average severity of the operational losses incurred by firms located in a particular country is
positively related to the size of the economy and the standard of living. The results also show
that loss of severity is negatively related to governance indicators, particularly regulatory …
analysed on a country level in terms of the size of the economy, the standard of living, the
legal system, the regional factor and six governance indicators. The results show that the
average severity of the operational losses incurred by firms located in a particular country is
positively related to the size of the economy and the standard of living. The results also show
that loss of severity is negatively related to governance indicators, particularly regulatory …
A total of 4388 operational loss events recorded over three decades in 53 countries are analysed on a country level in terms of the size of the economy, the standard of living, the legal system, the regional factor and six governance indicators. The results show that the average severity of the operational losses incurred by firms located in a particular country is positively related to the size of the economy and the standard of living. The results also show that loss of severity is negatively related to governance indicators, particularly regulatory quality. The frequency of operational loss events is also positively related to the size of the economy.
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