Using US banks’ quarterly data from 1995 to 2014, this study examines the mechanism by which delayed expected loss recognition (DELR) affects the stock price crash risk of banks. We first show that greater DELR is positively associated with a subsequent crash in stock price. We then find that this association is only present when bank managers have more discretion in concealing bad news, which is proxied by the high proportion of heterogeneous loans. These findings provide policy implications for bank regulators regarding the importance of specific loan types and time horizons when monitoring the accounting treatment of banks.

中文翻译：

---

坏消息预提和银行股价暴跌的风险

该研究使用1995年至2014年美国银行的季度数据，研究了延迟预期损失确认（DELR）影响银行股价崩盘风险的机制。我们首先表明，较高的DELR与随后的股价暴跌呈正相关。然后，我们发现只有当银行经理有更多的酌处权隐瞒坏消息时，这种关联才存在，而异类贷款的比例很高。这些发现为银行监管机构在监控银行的会计处理过程中特定贷款类型和时间范围的重要性提供了政策含义。