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  • Μικρογραφία εικόνας
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    Loan loss provision use: investigating the shift from earnings management to credit risk management
    (2021-11-14) Gianneli, Athanasia; Γιαννέλη, Αθανασία; Athens University of Economics and Business, Department of Accounting and Finance; Leledakis, Georgios; Spyrou, Spyros; Drakos, Konstantinos
    Prior research shows that banks have strong incentives to use Loan Loss Provisions for Earnings and Credit Risk Management. We examine whether European Banks use Loan Loss Provisions (LLPs) for this purpose and whether there is a shift in their management between pre and post financial crisis period. We analyze a sample of 120 largest Banks, based on their total assets, for a period of 20 years (1999-2020). The financial crisis of 2008 in banks triggered many discussions regarding the massive losses that hit bank’s loan portfolios. Therefore, we examine our hypotheses splitting our sample in two periods, pre-crisis (1999-2007) and post-crisis (2008- 2009), but we also examine our hypotheses considering the whole sample in total, using an interaction term. Our results indicate that largest banks in Europe use Loan Loss Provisions to manage Earnings in both pre and post crisis period. In addition, regarding Earnings Management no statistically significant difference is appeared in banks’ behavior between before and after the 2008 financial crisis. Regarding Credit Risk Management, our analysis shows that there is evidence in European Banks that Loan Loss Provisions reflect changes in the expected quality of banks’ loan portfolio, measured by the amount of non-performing loans. Furthermore, we noticed through our analysis that there is a statistically significant difference between the pre and post crisis period on how Banks in Europe manage their credit risk ratios, which is probably due to new accounting settings or due to increased supervisory. Overall, our findings are useful to bank supervisors, bank managers and accounting standard setters and as well as in their evaluation of the reported accounting numbers for the financial system in Europe.