This paper studies the effect of competition on opacity in the financial system. In my model, two financial institutions competing for investors simultaneously make a public disclosure decision when both are exposed to rollover risk. I find that in the face of rollover risk, competition between...

In this monograph, I advocate and illustrate an emerging stream of accounting literature that deploys economic models to study issues of accounting disclosure by banking institutions. To motivate the focus on a specific industry (banking), I identify two banking specificities: first, banks are...

In their implementation of Basel III, U.S. bank regulators are again including changes in the fair value of available-for-sale (AFS) debt securities in Tier 1 capital, but only for the largest U.S. banks. This paper investigates a potential impact of expanding this regulation by examining bank...

This paper examines the effects of accounting-based thresholds in regulation on growth decisionsin the banking industry. To investigate this relation we study changes in growth around the $10billion asset threshold specified in the Dodd-Frank Act. We first document that in the yearsafter the new...

To encourage banks to accommodate distressed borrowers during the COVID-19 pandemic, regulators redacted loan modification activity from each bank’s public regulatory filings so that banks could modify loans free from capital market scrutiny. Congress also superseded U.S. GAAP by allowing...