This paper attempts to investigate the impact of credit information sharing on bank-specific stock price crash risk. Using a sample of 1,402 listed-banks in 55 countries for the period 2005-2013, we show that credit information sharing through public credit registries is negatively associated...

Accounting for credit losses under U.S. GAAP will soon transition from an incurred to an expected loss model. The new expected loss model was motivated by concerns that reporting only incurred losses does not provide investors with sufficient information about banks' true credit risk. In this...

While much of the existing financial literature on asset pricing and corporate finance assumes an exogenous lending market, this paper studies an endogenous one in a general equilibrium model. To achieve this, a natural instrument is collateral, because its value is associated with the...