"Diversity in Organizations unflinchingly presents compelling evidence that directly links diversity to the bottom line and provides concrete advice and guidance to those who seek to implement diversity programs and initiatives in their organizations"--

We show that banks "extended-and-pretended" their impaired CRE mortgages in the post-pandemic period to avoid writing off their capital, leading to credit misallocation and a buildup of financial fragility. We detect this behavior using loan-level supervisory data on maturity extensions, bank...