14:15 - 15:45
Debtholder Monitoring and Earnings Opacity
We show that debtholder monitoring reduces earnings opacity. Using a natural experiment in the U.S. banking industry that subordinates junior creditors’ claims, we find that exposing junior creditors to greater losses in bankruptcy significantly reduces earnings opacity.
Who
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Personal details
Klaus Schaeck is a Professor of Banking and Finance at the School of Economics, Finance and Management at the University of Bristol. His research interest focuses on the empirical modelling of bank behaviour. In particular, he primarily investigates the role of the government in banking systems in terms of regulation, supervision, and bank bailouts, and how such government interventions affect bank conduct.
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