Laux, Christian; Leuz, Christian - 2009
effect above and
beyond the procyclicality of asset values and bank lending.
In Section 2, we provide a quick overview over … investors have some doubts that the firm (or bank)
can hold these assets to maturity. Similarly, when bank regulators set … question is why a bank would hold these hidden reserves
under HCA and essentially choose a lower leverage (or why it would not …