Goncharenko, Hledik, and Pinto (2018) show that the effect of information disclosure on banks depends on the structure of the banking network. Given their findings, which of the following statement is correct?

a. Information disclosure never affects banks regardless of the network structure

b. The disclosure effect is zero for both complete and empty networks

c. In a core periphery network, peripheral banks are the ones affected the most

d. All of the above are correct