The current paper do it an analysis about the beginning of the development of the bank in Europe, passing for the history of the Spanish bank, and finally for exploration of the facts that constitute the two banks most important in Spain and his position en the World among the most important ten...

The purpose of this study is to examine whether merged banks are engaged in earnings management just prior to the merger. I use the Modified Jones model for the empirical tests. Other studies have used the Modified Jones model on multi-industry manufacturing samples. Two other studies (Key 1997;...

Many theories link depositors' behavior to the transparency of banks. Yet, very little is known about this relationship empirically. Analyzing US commercial banks from 1994-2013, we document that uninsured deposit flows are more sensitive to information about bank performance when the quality of...

SFAS 166 and 167 require banks to consolidate certain off‒balance sheet securitization entities. I investigate how this consolidation spills over to banks' supply of small business loans, which are rarely securitized in the United States. This spillover operates through two channels. (1) In...

We examine the behavior of a large sample of private firms before and after the elimination of an inflation adjustment system in Colombia in 2007. We show that firms avoid reporting small losses by exercising considerable discretion in their use of inflation adjustments, and find that this...

This paper explores the pricing of debt in a financial system where the assets that borrowers hold to meet their obligations include claims against other borrowers. Assessing financial claims in a system context captures features that are missing in a partial equilibrium setting. It is possible...