Bank regulators and academics have long conjectured the beneficial effects of smoothing in loan loss provisions (i.e., making higher provisions during good times so as to avoid doing so during bad times) for bank lending and stability, while accounting regulators express concerns about its...

We propose a framework for analyzing spatial competition between retailers of different formats. Our approach yields localized measures of concentration and store-level diversion ratios that can be used to prospectively evaluate mergers in highly differentiated retail markets. Our method does...

We documented that announcements of a delay in the reporting of earnings produce an average one-day abnormal stock return of approximately -6%, with delays precipitated by accounting issues or lacking an explanation resulting in more negative market reactions than delays relating to business...