Financial Information in Colombia

Gine, Xavier ; Garcia, Nidia ; Gomez-Gonzalez, Jose

World Bank, Washington, DC

关键词: financial information;    auditing;    international financial reporting standards;    financial disclosure;   

DOI  :  10.1596/1813-9450-7998
RP-ID  :  WPS7998

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

An audit study was conducted in Colombiafollowing the protocols in Gine and Mazer (2017). Trainedauditors visited multiple financial institutions, seekingcredit and savings products. Consistent with Gabaix andLaibson (2006) and similar to Gine and Mazer (2017), thestaff 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 cheapestproduct, most likely because staff was incentivized to offermore expensive and thus more profitable products to the institution.