- -

Prudential supervisors' independence and income smoothing in European banks

RiuNet: Repositorio Institucional de la Universidad Politécnica de Valencia

Compartir/Enviar a

Citas

Estadísticas

  • Estadisticas de Uso

Prudential supervisors' independence and income smoothing in European banks

Mostrar el registro completo del ítem

García Osma, B.; Mora, A.; Porcuna-Enguix, L. (2019). Prudential supervisors' independence and income smoothing in European banks. Journal of Banking & Finance. 102:156-176. https://doi.org/10.1016/j.jbankfin.2019.03.001

Por favor, use este identificador para citar o enlazar este ítem: http://hdl.handle.net/10251/159982

Ficheros en el ítem

[Cerrado]
Nombre: García;Mora;Porcu ...
Tamaño: 607.2Kb
Formato: PDF
Descripción: Versión editorial
Solicitar una copia al autor

Metadatos del ítem

Título: Prudential supervisors' independence and income smoothing in European banks
Autor: García Osma, Beatriz Mora, Araceli Porcuna-Enguix, Luis
Entidad UPV: Universitat Politècnica de València. Departamento de Economía y Ciencias Sociales - Departament d'Economia i Ciències Socials
Fecha difusión:
Resumen:
[EN] We investigate the role of prudential supervisors' independence in affecting income smoothing behavior in European banks. Powerful national supervisors are predicted to influence the accounting practices of their ...[+]
Palabras clave: Income smoothing , Prudential supervisors , Independent supervisors , European banking industry , IAS 39 , Single supervisory mechanism
Derechos de uso: Cerrado
Fuente:
Journal of Banking & Finance. (issn: 0378-4266 )
DOI: 10.1016/j.jbankfin.2019.03.001
Editorial:
Elsevier
Versión del editor: https://doi.org/10.1016/j.jbankfin.2019.03.001
Código del Proyecto:
info:eu-repo/grantAgreement/CAM//S2015%2FHUM-3417/
info:eu-repo/grantAgreement/MINECO//UNC315-EE-3636/ES/WRDS-UC3M: Infraestructura de proceso de datos a gran escala/
info:eu-repo/grantAgreement/MINECO//ECO2013-48328/
info:eu-repo/grantAgreement/MINECO//ECO2013-48208-P/ES/CONSECUENCIAS ECONOMICAS DE LA ADOPCION DE LAS NIIF EN EUROPA: LA INFLUENCIA DE LAS DIFERENCIAS INSTITUCIONALES Y DEL CICLO ECONOMICO/
info:eu-repo/grantAgreement/MINECO//ECO2016-77579/
Agradecimientos:
This paper received financial support from the "Conselleria de Educacio, Cultura i Esport" from Generalitat Valenciana, under project VALi+d (Resolucion 26 de junio de 2014), CAM-Fondo Social Europeo (S2015/HUM-3417 ...[+]
Tipo: Artículo

References

ACHARYA, V. V., & RYAN, S. G. (2016). Banks’ Financial Reporting and Financial System Stability. Journal of Accounting Research, 54(2), 277-340. doi:10.1111/1475-679x.12114

Alesina, A., & Tabellini, G. (1990). A Positive Theory of Fiscal Deficits and Government Debt. The Review of Economic Studies, 57(3), 403. doi:10.2307/2298021

André, P., Cazavan-Jeny, A., Dick, W., Richard, C., & Walton, P. (2009). Fair Value Accounting and the Banking Crisis in 2008: Shooting the Messenger. Accounting in Europe, 6(1), 3-24. doi:10.1080/17449480902896346 [+]
ACHARYA, V. V., & RYAN, S. G. (2016). Banks’ Financial Reporting and Financial System Stability. Journal of Accounting Research, 54(2), 277-340. doi:10.1111/1475-679x.12114

Alesina, A., & Tabellini, G. (1990). A Positive Theory of Fiscal Deficits and Government Debt. The Review of Economic Studies, 57(3), 403. doi:10.2307/2298021

André, P., Cazavan-Jeny, A., Dick, W., Richard, C., & Walton, P. (2009). Fair Value Accounting and the Banking Crisis in 2008: Shooting the Messenger. Accounting in Europe, 6(1), 3-24. doi:10.1080/17449480902896346

Armstrong, C. S., Barth, M. E., Jagolinzer, A. D., & Riedl, E. J. (2010). Market Reaction to the Adoption of IFRS in Europe. The Accounting Review, 85(1), 31-61. doi:10.2308/accr.2010.85.1.31

Barth, J. R., Caprio, G., & Levine, R. (2013). Bank regulation and supervision in 180 countries from 1999 to 2011. Journal of Financial Economic Policy, 5(2), 111-219. doi:10.1108/17576381311329661

Barth, J. R., Lin, C., Ma, Y., Seade, J., & Song, F. M. (2013). Do bank regulation, supervision and monitoring enhance or impede bank efficiency? Journal of Banking & Finance, 37(8), 2879-2892. doi:10.1016/j.jbankfin.2013.04.030

BARTH, M. E., LANDSMAN, W. R., & LANG, M. H. (2008). International Accounting Standards and Accounting Quality. Journal of Accounting Research, 46(3), 467-498. doi:10.1111/j.1475-679x.2008.00287.x

Beatty, A. L., Ke, B., & Petroni, K. R. (2002). Earnings Management to Avoid Earnings Declines across Publicly and Privately Held Banks. The Accounting Review, 77(3), 547-570. doi:10.2308/accr.2002.77.3.547

Beatty, A., & Liao, S. (2011). Do delays in expected loss recognition affect banks’ willingness to lend? Journal of Accounting and Economics, 52(1), 1-20. doi:10.1016/j.jacceco.2011.02.002

Beatty, A., & Liao, S. (2014). Financial accounting in the banking industry: A review of the empirical literature. Journal of Accounting and Economics, 58(2-3), 339-383. doi:10.1016/j.jacceco.2014.08.009

Beccalli, E., Bozzolan, S., Menini, A., & Molyneux, P. (2013). Earnings management, forecast guidance and the banking crisis. The European Journal of Finance, 21(3), 242-268. doi:10.1080/1351847x.2013.809548

Beck, T., Demirgüç-Kunt, A., & Levine, R. (2006). Bank concentration, competition, and crises: First results. Journal of Banking & Finance, 30(5), 1581-1603. doi:10.1016/j.jbankfin.2005.05.010

Benston, G. J., & Wall, L. D. (2005). How should banks account for loan losses. Journal of Accounting and Public Policy, 24(2), 81-100. doi:10.1016/j.jaccpubpol.2004.12.005

Berger, W., & Kißmer, F. (2013). Central bank independence and financial stability: A tale of perfect harmony? European Journal of Political Economy, 31, 109-118. doi:10.1016/j.ejpoleco.2013.04.004

Bodea, C., & Hicks, R. (2014). Price Stability and Central Bank Independence: Discipline, Credibility, and Democratic Institutions. International Organization, 69(1), 35-61. doi:10.1017/s0020818314000277

Bouvatier, V., & Lepetit, L. (2008). Banks’ procyclical behavior: Does provisioning matter? Journal of International Financial Markets, Institutions and Money, 18(5), 513-526. doi:10.1016/j.intfin.2007.07.004

Bouvatier, V., Lepetit, L., & Strobel, F. (2014). Bank income smoothing, ownership concentration and the regulatory environment. Journal of Banking & Finance, 41, 253-270. doi:10.1016/j.jbankfin.2013.12.001

Bushman, R. M., & Williams, C. D. (2012). Accounting discretion, loan loss provisioning, and discipline of Banks’ risk-taking. Journal of Accounting and Economics, 54(1), 1-18. doi:10.1016/j.jacceco.2012.04.002

Cano-Rodríguez, M. (2010). Big Auditors, Private Firms and Accounting Conservatism: Spanish Evidence. European Accounting Review, 19(1), 131-159. doi:10.1080/09638180902989426

Capkun, V., Cazavan, A., Jeanjean, T., & Weiss, L. A. (2008). Earnings Management and Value Relevance During the Mandatory Transition from Local GAAPs to IFRS in Europe. SSRN Electronic Journal. doi:10.2139/ssrn.1125716

Chaney, P. K., Faccio, M., & Parsley, D. (2011). The quality of accounting information in politically connected firms. Journal of Accounting and Economics, 51(1-2), 58-76. doi:10.1016/j.jacceco.2010.07.003

Choi, S. K., & Jeter, D. C. (1992). The effects of qualified audit opinions on earnings response coefficients. Journal of Accounting and Economics, 15(2-3), 229-247. doi:10.1016/0165-4101(92)90019-x

COHEN, L. J., CORNETT, M. M., MARCUS, A. J., & TEHRANIAN, H. (2014). Bank Earnings Management and Tail Risk during the Financial Crisis. Journal of Money, Credit and Banking, 46(1), 171-197. doi:10.1111/jmcb.12101

Curcio, D., & Hasan, I. (2013). Earnings and capital management and signaling: the use of loan-loss provisions by European banks. The European Journal of Finance, 21(1), 26-50. doi:10.1080/1351847x.2012.762408

De Haan, J., Masciandaro, D., & Quintyn, M. (2008). Does central bank independence still matter? European Journal of Political Economy, 24(4), 717-721. doi:10.1016/j.ejpoleco.2008.09.005

Dincer, N. N., & Eichengreen, B. (2012). The Architecture and Governance of Financial Supervision: Sources and Implications. International Finance, 15(3), 309-325. doi:10.1111/j.1468-2362.2013.12002.x

Dou, Y., Hope, O.-K., Thomas, W. B., & Zou, Y. (2018). Blockholder Exit Threats and Financial Reporting Quality. Contemporary Accounting Research, 35(2), 1004-1028. doi:10.1111/1911-3846.12404

Doumpos, M., Gaganis, C., & Pasiouras, F. (2015). Central bank independence, financial supervision structure and bank soundness: An empirical analysis around the crisis. Journal of Banking & Finance, 61, S69-S83. doi:10.1016/j.jbankfin.2015.04.017

Dye, R. A. (1988). Earnings Management in an Overlapping Generations Model. Journal of Accounting Research, 26(2), 195. doi:10.2307/2491102

Fonseca, A. R., & González, F. (2008). Cross-country determinants of bank income smoothing by managing loan-loss provisions. Journal of Banking & Finance, 32(2), 217-228. doi:10.1016/j.jbankfin.2007.02.012

García Lara, J. M., García Osma, B., & Penalva, F. (2007). Accounting conservatism and corporate governance. Review of Accounting Studies, 14(1), 161-201. doi:10.1007/s11142-007-9060-1

Lara, J. M. G., Osma, B. G., & Penalva, F. (2009). The Economic Determinants of Conditional Conservatism. Journal of Business Finance & Accounting, 36(3-4), 336-372. doi:10.1111/j.1468-5957.2008.02122.x

Gebhardt, G¨., & Novotny-Farkas, Z. (2011). Mandatory IFRS Adoption and Accounting Quality of European Banks. Journal of Business Finance & Accounting, 38(3-4), 289-333. doi:10.1111/j.1468-5957.2011.02242.x

Gray, R. P., & Clarke, F. L. (2004). A Methodology for Calculating the Allowance for Loan Losses in Commercial Banks. Abacus, 40(3), 321-341. doi:10.1111/j.1467-6281.2004.00161.x

GUL, F. A. (1987). The Effects of Uncertainty Reporting on Lending Officers’ Perceptions of Risk and Additional Information Required. Abacus, 23(2), 172-179. doi:10.1111/j.1467-6281.1987.tb00148.x

Han, S., Kang, T., Salter, S., & Yoo, Y. K. (2008). A cross-country study on the effects of national culture on earnings management. Journal of International Business Studies, 41(1), 123-141. doi:10.1057/jibs.2008.78

Hausman, J. A. (1978). Specification Tests in Econometrics. Econometrica, 46(6), 1251. doi:10.2307/1913827

Huizinga, H., & Laeven, L. (2012). Bank valuation and accounting discretion during a financial crisis. Journal of Financial Economics, 106(3), 614-634. doi:10.1016/j.jfineco.2012.06.008

Jin, J., Kanagaretnam, K., & Lobo, G. J. (2016). Discretion in bank loan loss allowance, risk taking and earnings management. Accounting & Finance, 58(1), 171-193. doi:10.1111/acfi.12210

Jordà, Ò., Schularick, M., & Taylor, A. M. (2015). SOVEREIGNS VERSUS BANKS: CREDIT, CRISES, AND CONSEQUENCES. Journal of the European Economic Association, 14(1), 45-79. doi:10.1111/jeea.12144

Kanagaretnam, K., Krishnan, G. V., & Lobo, G. J. (2010). An Empirical Analysis of Auditor Independence in the Banking Industry. The Accounting Review, 85(6), 2011-2046. doi:10.2308/accr.2010.85.6.2011

Kanagaretnam, K., Lim, C. Y., & Lobo, G. J. (2010). Auditor reputation and earnings management: International evidence from the banking industry. Journal of Banking & Finance, 34(10), 2318-2327. doi:10.1016/j.jbankfin.2010.02.020

Kanagaretnam, K., Lim, C. Y., & Lobo, G. J. (2014). Effects of international institutional factors on earnings quality of banks. Journal of Banking & Finance, 39, 87-106. doi:10.1016/j.jbankfin.2013.11.005

KANAGARETNAM, K., LOBO, G. J., & YANG, D.-H. (2004). Joint Tests of Signaling and Income Smoothing through Bank Loan Loss Provisions. Contemporary Accounting Research, 21(4), 843-884. doi:10.1506/udwq-r7b1-a684-9ecr

Kaufmann, D., Kraay, A., & Mastruzzi, M. (2011). The Worldwide Governance Indicators: Methodology and Analytical Issues. Hague Journal on the Rule of Law, 3(02), 220-246. doi:10.1017/s1876404511200046

KAUSAR, A., TAFFLER, R. J., & TAN, C. (2009). The Going-Concern Market Anomaly. Journal of Accounting Research, 47(1), 213-239. doi:10.1111/j.1475-679x.2008.00317.x

Kilic, E., Lobo, G. J., Ranasinghe, T., & Sivaramakrishnan, K. (2012). The Impact of SFAS 133 on Income Smoothing by Banks through Loan Loss Provisions. The Accounting Review, 88(1), 233-260. doi:10.2308/accr-50264

Laeven, L., & Majnoni, G. (2003). Loan loss provisioning and economic slowdowns: too much, too late? Journal of Financial Intermediation, 12(2), 178-197. doi:10.1016/s1042-9573(03)00016-0

La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998). Law and Finance. Journal of Political Economy, 106(6), 1113-1155. doi:10.1086/250042

LEUZ, C., & OBERHOLZERGEE, F. (2006). Political relationships, global financing, and corporate transparency: Evidence from Indonesia☆. Journal of Financial Economics, 81(2), 411-439. doi:10.1016/j.jfineco.2005.06.006

LIANG, P. J. (2004). Equilibrium Earnings Management, Incentive Contracts, and Accounting Standards*. Contemporary Accounting Research, 21(3), 685-718. doi:10.1506/586l-8dkt-3uyl-l9q4

Liu, C.-C., & Ryan, S. G. (2006). Income Smoothing over the Business Cycle: Changes in Banks’ Coordinated Management of Provisions for Loan Losses and Loan Charge-Offs from the Pre-1990 Bust to the 1990s Boom. The Accounting Review, 81(2), 421-441. doi:10.2308/accr.2006.81.2.421

Lobo, G. J., & Yang, D.-H. (2001). Review of Quantitative Finance and Accounting, 16(3), 223-250. doi:10.1023/a:1011284303517

Lobo, G. J. (2017). Accounting research in banking – A review. China Journal of Accounting Research, 10(1), 1-7. doi:10.1016/j.cjar.2016.09.003

Loipersberger, F. (2018). The effect of supranational banking supervision on the financial sector: Event study evidence from Europe. Journal of Banking & Finance, 91, 34-48. doi:10.1016/j.jbankfin.2018.04.003

Martinez-Blasco, M., Garcia-Blandon, J., & Vivas-Crisol, L. (2016). El informe de auditoría con salvedades: ¿una mayor independencia y competencia del auditor aumenta su contenido informativo? Revista de Contabilidad, 19(1), 89-101. doi:10.1016/j.rcsar.2015.01.005

Masciandaro, D., Nieto, M. J., & Quintyn, M. (2011). Exploring governance of the new European Banking Authority—A case for harmonization? Journal of Financial Stability, 7(4), 204-214. doi:10.1016/j.jfs.2011.03.001

Masciandaro, D., Quintyn, M., & Taylor, M. W. (2008). Inside and outside the central bank: Independence and accountability in financial supervision. European Journal of Political Economy, 24(4), 833-848. doi:10.1016/j.ejpoleco.2008.07.005

Molyneux, P., & Wilson, J. O. S. (2017). Contemporary issues in banking. The British Accounting Review, 49(2), 117-120. doi:10.1016/j.bar.2016.10.004

Mora, A., & Walker, M. (2015). The implications of research on accounting conservatism for accounting standard setting. Accounting and Business Research, 45(5), 620-650. doi:10.1080/00014788.2015.1048770

Novotny-Farkas, Z. (2016). The Interaction of the IFRS 9 Expected Loss Approach with Supervisory Rules and Implications for Financial Stability. Accounting in Europe, 13(2), 197-227. doi:10.1080/17449480.2016.1210180

Ozili, P. K., & Outa, E. (2017). Bank loan loss provisions research: A review. Borsa Istanbul Review, 17(3), 144-163. doi:10.1016/j.bir.2017.05.001

Persson, T., & Svensson, L. E. O. (1989). Why a Stubborn Conservative would Run a Deficit: Policy with Time- Inconsistent Preferences. The Quarterly Journal of Economics, 104(2), 325. doi:10.2307/2937850

Quintyn, M. (2003). Regulatory and Supervisory Independence and Financial Stability. CESifo Economic Studies, 49(2), 259-294. doi:10.1093/cesifo/49.2.259

Shen, C.-H., & Chih, H.-L. (2005). Investor protection, prospect theory, and earnings management: An international comparison of the banking industry. Journal of Banking & Finance, 29(10), 2675-2697. doi:10.1016/j.jbankfin.2004.10.004

Skała, D. (2015). Saving on a Rainy Day? Income Smoothing and Procyclicality of Loan-Loss Provisions in Central European Banks. International Finance, 18(1), 25-46. doi:10.1111/1468-2362.12058

Trombetta, M., & Imperatore, C. (2014). The dynamic of financial crises and its non-monotonic effects on earnings quality. Journal of Accounting and Public Policy, 33(3), 205-232. doi:10.1016/j.jaccpubpol.2014.02.002

Trueman, B., & Titman, S. (1988). An Explanation for Accounting Income Smoothing. Journal of Accounting Research, 26, 127. doi:10.2307/2491184

[-]

recommendations

 

Este ítem aparece en la(s) siguiente(s) colección(ones)

Mostrar el registro completo del ítem