The study looked at how banks in Asia-Pacific disclose risks like market, credit, operational, and counterparty credit risks. They used a method called Lasso regression to analyze the data. The study found that market discipline is influenced by the risks banks disclose, especially under Basel III regulations. It also showed that market discipline varies between developed and emerging countries. Interestingly, countries with higher economic freedom have weaker market discipline, especially in emerging economies. The findings suggest that regulators need to manage bank risks better and ensure banks meet Basel III requirements.