We find that firms that act as product leaders (operational excellence) tend to make less (more) disclosures by offering more (less) no-answers and refusals to questions during earnings conference calls, consistent with product leaders withholding product-related information and operational...

This Selected Issues paper assesses risks in the Panamanian banking sector. The analysis suggests that Panama's banking system seems able to withstand reasonably severe shocks, while contagion risks stem primarily from foreign banks. Ample starting capital buffers and bank profitability prevent...