This study aims to investigate the significance of adequately accounting for heterogeneity in banking efficiency. It compares different specifications of stochastic cost frontier models which attempt to account for bank heterogeneity in various ways. This study compares the estimated parameters...

We examine the impact of financial regulation policy uncertainty on mispricing of earnings among banks, which are heavily regulated and strongly influenced by such policies. The tension underlying our study stems from two opposing effects. To the extent that economic uncertainty generated by the...

This paper examines the relation between bank branch deregulation and corporate borrowers' stock price crash risk. Using a large sample of U.S. public firms over the period 1962-2001, we provide robust evidence that intrastate branch reform reduces firms' stock price crash risk. Our finding is...

This paper studies the effects of bank accounting conservatism on the pricing of syndicated bank loans. We provide evidence that banks timelier in loss recognition charge higher spreads. We go on to consider what happens to the relationship between spreads and timeliness in loss recognition...