We examine the effects of CEO turnover in banks. Incoming bank CEOs face problems from information asymmetry because banks' operations are opaque and bank risk can change dramatically in a short time. Incoming bank CEOs may therefore change bank policies to manage their personal risks. Since CEO...

We propose a worldwide-based loan portfolio to measure banks’ sectoral concentration that features prominently in episodes of bank specialization. We use the banks’ real loan allocation worldwide instead of the in-sample data to compute a bank specialization. We find that firms borrowing...

We study bank specialization in lending in the U.S. corporate loan market. We document that banks specialize in lending to specific industries. Specialization is persistent over time and common across industries. Using detailed information on syndicated loans, we show that the typical loan...

We present the first large-sample empirical evidence on U.S. auditors' responses to changes in entity-level audit risk during 2006-2007, the period leading-up to the financial crisis of 2008-2009. Treating fiscal year 2005 engagements as a pre-crisis benchmark, we find that audit attention...

This paper sets out to extend and deepen the understanding the ways toward economic sustainability through efficient and effective growth operations strategies, quality management and operational excellence in banking. In this study we define new quality management practices based on developed...

This paper investigates the causal effects of voluntary information disclosures on a bank's expected default probability, enterprise risk, and value. I measure disclosure via a self-constructed index for the largest 80 U.S. bank holding companies for the period 1998-2011. I provide evidence that...

We exploit an informational shock to the firm information environment to examine the relationship between unaffiliated bankers on corporate boards and conditional conservatism. We find that after the information shock, firms with unaffiliated bankers on board experience a statistically and...

This paper provides empirical evidence on the relation between labor mobility and disclosurequality of banks. I use adoption and rejection of Inevitable Disclosure Doctrine (IDD) by statecourts as exogenous shocks to labor mobility. Adoption of IDD discourages labor mobility,because it provides...