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Income smoothing among European systemic and non-systemic banks

Author

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  • Peterson, Ozili K.
  • Arun, Thankom G.
Abstract
There is scant research on the financial reporting behaviour of global systemically-important banks (G-SIBs) and non-global systemically-important banks (non-G-SIBs). We examine the link between financial reporting and financial system stability given the understanding that income smoothing is a stability mechanism for banks. We empirically examine whether the way G-SIBs use loan loss provisions (LLPs) to smooth income differ compared to non-G-SIBs and the incentive to do so. We examine 231 European banks and find that income smoothing is pronounced among G-SIBs in the post-crisis period and pronounced among non-G-SIBs in the pre-crisis period. Also, G-SIBs exhibit greater income smoothing when they: (i) have substantial non-performing loans, (ii) are more profitable and meet/exceed minimum regulatory capital ratios (iii) engage in forward-looking loan-loss provisioning and during recessionary periods. The implication of our findings is that capital regulation and abnormal economic fluctuations create incentives for systemic banks to use accounting numbers (loan loss provisions) to smooth income, which also align with the financial system stability objective of bank regulators. Our findings are useful to accounting standard setters in their evaluation of the role of reported accounting numbers for financial system stability, given the current regulatory environment in Europe which focuses on systemic banks.

Suggested Citation

  • Peterson, Ozili K. & Arun, Thankom G., 2018. "Income smoothing among European systemic and non-systemic banks," The British Accounting Review, Elsevier, vol. 50(5), pages 539-558.
    • Handle: RePEc:eee:bracre:v:50:y:2018:i:5:p:539-558
    DOI: 10.1016/j.bar.2018.03.001
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    Cited by:

    1. Oľga Jakubíková, 2022. "Profit smoothing of European banks under IFRS 9," FFA Working Papers 4.003, Prague University of Economics and Business, revised 21 Feb 2022.
    2. Peterson K. Ozili & Thankom G. Arun, 2023. "What drives bank income smoothing? Evidence from Africa," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 20(3), pages 274-295, September.
    3. Ozili, Peterson Kitakogelu, 2021. "Bank earnings management using loan loss provisions: comparing the UK, France, South Africa and Egypt," MPRA Paper 108506, University Library of Munich, Germany.
    4. Ozili, Peterson K, 2021. "Banking sector earnings management using loan loss provisions in the Fintech era," MPRA Paper 105083, University Library of Munich, Germany.
    5. Ozili, Peterson K, 2021. "Accounting and financial reporting during a pandemic," MPRA Paper 105183, University Library of Munich, Germany.
    6. Danisman, Gamze Ozturk & Demir, Ender & Ozili, Peterson, 2021. "Loan loss provisioning of US banks: Economic policy uncertainty and discretionary behavior," International Review of Economics & Finance, Elsevier, vol. 71(C), pages 923-935.
    7. Yadav, Sandeep & Srivastava, Jagriti, 2021. "CSR, audit quality and firm performance during COVID-19: an organizational legitimacy perspective," MPRA Paper 108967, University Library of Munich, Germany.
    8. Nengqi Pan & Millicent Chang & Xiaofei Pan, 2024. "Career concerns and earnings management in government‐owned banks," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(1), pages 475-506, March.
    9. Chris Magnis & Stephanos Papadamou & George Emmanuel Iatridis, 2024. "The impact of corporate governance mechanisms on mitigating banks’ propensity for risk-taking," Journal of Banking Regulation, Palgrave Macmillan, vol. 25(3), pages 234-255, September.
    10. Ozili, Peterson Kitakogelu, 2021. "Big 4 auditors, bank earnings management and financial crisis in Africa," MPRA Paper 108608, University Library of Munich, Germany.
    11. Ozili, Peterson K, 2021. "Financial reporting under economic policy uncertainty," MPRA Paper 105089, University Library of Munich, Germany.
    12. Konstantinos Vasilakopoulos & Christos Tzovas & Apostolos Ballas, 2021. "Banks’ Risk and The Impact of Audit Quality on Income Smoothing," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 20(3), pages 425-453, September.
    13. Di Fabio, Costanza & Ramassa, Paola & Quagli, Alberto, 2021. "Income smoothing in European banks: The contrasting effects of monitoring mechanisms," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 43(C).

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    More about this item

    Keywords

    Loan loss provisions; Income smoothing; Europe; Systemic banks; Accounting information; Financial reporting;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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