Debtholder Monitoring Incentives and Bank Earnings Opacity
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DOI: 10.1017/s0022109020000241
Abstract: Abstract 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… read more here.
Keywords: debtholder monitoring; bank earnings; monitoring incentives; earnings opacity ... See more keywords