Discussion of Were Information Intermediaries Sensitive to the Financial Statement-Based Leading Indicators of Bank Distress Prior to the Financial Crisis?

• 成果类型: Article
• 署名作者: Ryan, Stephen G.
• 署名单位: New York University
• 刊物名称: CONTEMPORARY ACCOUNTING RESEARCH
• ISSN/ISSBN: 0823-9150
• DOI: 10.1111/1911-3846.12224
• 发表日期: 2016
• 页码: 607-615
• 关键词: subprime crisis; MARKET

摘要

I discuss Desai, Rajgopal, and Yu (2016) with the goal of helping readers think carefully about which implications of the study are likely to generalize to future economic downturns and which are likely to be specific to the facts and circumstances of the recent financial crisis, given that the crisis was driven by the expectation and then the realization of a single market variable, national house price depreciation.