director), collusion (total board of commissioners who have multiple positions), opportunity (ineffective monitoring … annual financial statements) affect fraudulent financial reporting. The sample of this study comprises banking companies …. However, financial targets, financial stability, ineffective monitoring, auditor switching, change in director, and collusion …

using the round-yards as focal pricing points when negotiating with their borrowers. The tacit collusion leads to higher … spreads and total costs of the round-yard-priced loans than non-round-yard-priced loans. Consistent with our tacit collusion …