We investigate the effect of executives and directors with prior banking crisis experience on bank outcomes around the … global financial crisis (GFC). Executives and directors with previous experience leading banks through a bank crisis may have … GFC. Controlling for other executive, director, and bank-level characteristics, we examine whether bank performance, risk …

We study corporate hedging during the 2007-2008 financial crisis. We find that hedging programs are fragile. Firms … existing lines of credit, and saving more out of realized cash-flows. Terminations of hedging programs decreased firm value by …

This study investigates the effect of corporate hedging on stock price crash risk. We test two competing hypotheses …. Under the transparency hypothesis, hedging reduces a firm's information asymmetry and lowers crash risk. Under the opacity … hypothesis, hedging decreases financial reporting quality and increases crash risk. Using a comprehensive sample of firms from …

accounted for and not supported by bank capital. Worse, since derivatives are credit-riskless for derivatives dealers, these … bankruptcy code, are unnecessary. If the dealer community were to modify the structure of OTC derivative instruments, derivatives …

analyzes the implications of the change from IAS 39 to IFRS 9 in the context of bank resilience. We shed light on two effects … bank resilience through lower capital levels. In the absence of archival data of IFRS 9 and their potential biases due to … the COVID-19 pandemic, we use the European bank stress test results as a natural experiment, in which all banks are …