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Reputational risk and operating losses.An empirical analysis on listed banks

Gabriele Maucci, Daniele Ruspantini, Paola Schwizer, Maria Gaia Soana
November 2010 - n°11

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

 
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