Journal of Applied
Finance & Research

Abstract

Following the implementation of operational resilience requirements under the Digital Operational Resilience Act, we examine equity market reactions to the first wave of structured resilience disclosures by European systemically important banks. The paper formally assesses whether the granularity of disclosure, the treatment of third party dependencies, and the presence of independent assurance generate measurable differences in abnormal returns and trading volume around publication windows.

References

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3. [3]European Banking Authority. (2024). Guidelines on operational resilience reporting.