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Does banking deregulation affect accounting conservatism?
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DOI：10.1016/j.jaccpubpol.2021.106876.png)
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摘要
En 中文
This study examines the effect of banking competition on borrowing firms' conditional accounting conservatism (i.e., asymmetric timely loss recognition). The context of the study is the staggered passage of the Interstate Banking and Branching Efficiency Act (IBBEA), the deregulation that permits banks to establish branches across state lines and increases bank competition. I find that firms report less conservatively after the passage of the IBBEA in their headquarter states. The effect on conditional conservatism is stronger for firms in states with a greater increase in competition among banks, firms that are more likely to borrow from in-state banks, firms with greater financial constraint, and firms subject to less external monitoring. Additional tests confirm that the decline in conditional conservatism is observed only after the adoption of IBBEA and lasts for two years. The findings indicate that banks tend to lowball borrowers when competition arises by relaxing their demand for conservative reporting. Overall, this study highlights the unintended impacts of banking competition on borrowing firms' financial reporting. (C) 2021 The Author(s). Published by Elsevier Inc.
Keyword:
PRODUCT MARKET COMPETITION
TIMELY LOSS RECOGNITION
CONDITIONAL CONSERVATISM
ASYMMETRIC TIMELINESS
CORPORATE GOVERNANCE
CREDIT COMPETITION
DEBT
DISCLOSURE
OWNERSHIP
DISTANCE
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2.2
论文数:
990
被引数:
3.9K
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