abilities in the early years (Ali and Zhang2015). Consistent with this argumentation, Ali and Zhang (2015) find earnings overstatements to be greater in CEOs’ early years than in the later years of their tenure. However, the horizon problemFootnote7suggests that departing CEOs have incentives ...
the study relates intertemporal loan pricing to asymmetric information and bargaining power but not the type of information available to the bank. Finally, Santos and Winton (2009) analyze bank characteristics and bargaining power for a sample of large US borrowers from 1987 to 2007. They detect ...
but also to practice in a number of ways. Our results reveal areas that are particularly important for regulators and where effective internal control systems are particularly beneficial. Further, our study identifies critical aspects that firms should consider in their communication with investors when ...