Financial Information in Colombia

Financial Information in Colombia

An audit study was conducted in Colombia following the protocols in Gine and Mazer (2017). Trained auditors visited multiple financial institutions, seeking credit and savings products. Consistent with Gabaix and Laibson (2006) and similar to Gine...

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Main Authors: Gine, Xavier, Garcia, Nidia, Gomez-Gonzalez, Jose
Format: Working Paper
Language:English
en_US
Published: World Bank, Washington, DC 2017
Subjects:
financial information
auditing
international financial reporting standards
financial disclosure
Online Access:http://documents.worldbank.org/curated/en/921961488894400509/Financial-information-in-Colombia
http://hdl.handle.net/10986/26248
id okr-10986-26248
recordtype oai_dc
spelling okr-10986-262482021-06-14T10:13:58Z Financial Information in Colombia Gine, Xavier Garcia, Nidia Gomez-Gonzalez, Jose financial information auditing international financial reporting standards financial disclosure An audit study was conducted in Colombia following the protocols in Gine and Mazer (2017). Trained auditors visited multiple financial institutions, seeking credit and savings products. Consistent with Gabaix and Laibson (2006) and similar to Gine and Mazer (2017), the staff only provided information about the cost when asked, disclosing less than a third of the total cost voluntarily. In addition, clients were rarely offered the cheapest product, most likely because staff was incentivized to offer more expensive and thus more profitable products to the institution. 2017-03-08T22:02:16Z 2017-03-08T22:02:16Z 2017-03 Working Paper http://documents.worldbank.org/curated/en/921961488894400509/Financial-information-in-Colombia http://hdl.handle.net/10986/26248 English en_US Policy Research Working Paper;No. 7998 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Latin America & Caribbean Colombia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic financial information
auditing
international financial reporting standards
financial disclosure
spellingShingle financial information
auditing
international financial reporting standards
financial disclosure
Gine, Xavier
Garcia, Nidia
Gomez-Gonzalez, Jose
Financial Information in Colombia
geographic_facet Latin America & Caribbean
Colombia
relation Policy Research Working Paper;No. 7998
description An audit study was conducted in Colombia following the protocols in Gine and Mazer (2017). Trained auditors visited multiple financial institutions, seeking credit and savings products. Consistent with Gabaix and Laibson (2006) and similar to Gine and Mazer (2017), the staff only provided information about the cost when asked, disclosing less than a third of the total cost voluntarily. In addition, clients were rarely offered the cheapest product, most likely because staff was incentivized to offer more expensive and thus more profitable products to the institution.
format Working Paper
author Gine, Xavier
Garcia, Nidia
Gomez-Gonzalez, Jose
author_facet Gine, Xavier
Garcia, Nidia
Gomez-Gonzalez, Jose
author_sort Gine, Xavier
title Financial Information in Colombia
title_short Financial Information in Colombia
title_full Financial Information in Colombia
title_fullStr Financial Information in Colombia
title_full_unstemmed Financial Information in Colombia
title_sort financial information in colombia
publisher World Bank, Washington, DC
publishDate 2017
url http://documents.worldbank.org/curated/en/921961488894400509/Financial-information-in-Colombia
http://hdl.handle.net/10986/26248
_version_ 1764461266001199104

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