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 turnover is usually endogenous, we utilize a setting where CEO …

, bank holding companies accelerate loan loss provisions to smooth income when (1) banks hit the regulatory minimum target …Prior research shows that banks have strong incentives to use loan loss provisions to smooth income. Using a sample of … 878 US bank holding companies over the period 2001–2009, I find strong evidence of income smoothing behavior. Additionally …