This article examines factors that affect conversion returns. the author concludes that preconversion equity in mutual thrifts is what creates windfall gains that accompany mutual-to-stock conversions.
by Drew Dahl, John P. OKeefe, and Gerald A. Hanweck
The authors find that when bankers have some discretion in their treatment
of loan losses, bank examinersbut not auditorsinfluence the timing of
loan-loss recognition. For their part, auditors appear to focus on the
provision for loan losses.
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