Debtholder Monitoring Incentives and Bank Earnings Opacity
(2020)
Journal Article
Danisewicz, P., McGowan, D., Onali, E., & Schaeck, K. (2020). Debtholder Monitoring Incentives and Bank Earnings Opacity. Journal of Financial and Quantitative Analysis, 56(4), 1408-1445. https://doi.org/10.1017/s0022109020000241
We exploit exogenous legislative changes that alter the priority structure of different classes of debt to study how debtholder monitoring incentives affect bank earnings opacity. We present novel evidence that exposing nondepositors to greater losse... Read More about Debtholder Monitoring Incentives and Bank Earnings Opacity.