We examine whether bankers face disciplining consequences for structuring poorly performing corporate loans. We construct a novel dataset containing the employment histories and loan portfolios of a large sample of corporate bankers and find that corporate credit events (i.e., downgrades,...

Ineffective internal controls over financial reporting often relates to a lack of qualified personnel with sufficient accounting and technical expertise. In this study, we examine whether firms respond to internal control failures by increasing their demand for specific accounting and finance...

This study examines the effects of lenders' recent default experience on borrowers' timely lossrecognition. We exploit a unique empirical setting that examines defaults occurring in lenders'loan portfolios that are unrelated to the firms of interest. We find that borrowers increase timelyloss...

On September 21st, 2020, a consortium of international journalists leaked nearly 2,500 suspicious activity reports (SAR) obtained from the U.S. Financial Crimes Enforcement Network, exposing nearly $2 trillion of money laundering activity. The event raises important questions regarding what role...

We investigate the extent to which loan officers generate independent, individual effects on the design and performance of syndicated loans. We construct a large database containing the identities of loan officers involved in structuring syndicated loan deals, allowing us to systematically...