We investigate information transfer effects of operational loss announcements to the announcing firm's blockholder. Based on an event study, we find that the firm-blockholder link tends to be weak for U.S. financial sector blockholders, with significant negative spillover effects occurring...

This paper investigates the characteristics of the operational loss data formation mechanism that takes place between the date of discovery of a new operational risk event and the final settlement date on which all losses are materialized. The first loss that characterizes the initial impact of...