This is a preliminary study on the status of the U.S. in the global market for derivatives-related services. We include some of the policy choices available to enhance this status. We begin with a review of the importance of active and efficient derivatives markets for the U.S. economy. We then...

Banks, financial statement users, and accounting standard setters have long disagreed on the informativeness of banks' statements of cash flows (SCFs) and there is a lack of relevant evidence in the literature. This paper examines the informativeness of the SCFs of U.S. commercial banks in two...

This is an Online Appendix to "Do Delays in Banks' Loan Loss Provisioning Affect Economic Downturns? Evidence from the U.S. Housing Market", available at: "https://ssrn.com/abstract=3395911" https://ssrn.com/abstract=3395911

I study whether banks' loan loss provisioning contributed to economic downturns by examining the U.S. housing market. Specifically, I examine the influence of delayed loan loss recognition (DLR) on bank lending and risk-taking in the U.S. mortgage market and the aggregate effects of DLR on house...

The seeds for the 2007-09 financial collapse were sewn over many years and nurtured by ill-advised governmental housing policy, the presence of pervasive fraud both large and small and the widespread failure of personal integrity. A chronology of bad choices made by individuals and the...

This study examines whether religiosity is associated with the valuation multiples investors assign to fair valued assets that are susceptible to managerial bias. Using a sample of U.S. banking firms, I find that the value relevance of such assets is higher for firms located in more religious...

We investigate what accounting information is important for explaining the credit risk for U.S. bank holding corporations (BHCs) during the recent crisis and find that several CAMELS variables are significantly associated with credit default swap (CDS) spreads. Consistent with industry...

The financial crisis of 2008 had a profound effect on the US banking industry, causing financial distress and the failure of a large number of banks. In this paper, we investigate whether or not banking institutions smoothed their reported earnings upward through the utilization of loan loss...

We examine the unintended consequences of the 2005 increase in the asset threshold for FDICIA internal control reporting requirements from $500 million to $1 billion. We focus on a test sample of banks that grew from between $100 million to $500 million in assets prior to the change in...

We examine the unintended consequences of the 2005 increase from $500 million to $1 billion in the asset threshold for the Federal Deposit Insurance Corporation Improvement Act (FDICIA) internal control reporting requirements. We focus on a test sample of banks that increased their total assets...