Belkhir, Mohamed; Boubaker, Sabri - In: Journal of International Financial Markets, … 24 (2013) C, pp. 223-246
Theoretical literature (Jensen and Meckling, 1976; Edmans and Liu, 2011) argues that inside debt – pension benefits and … equity holdings. We test this theory in the banking sector by investigating whether CEOs with larger inside debt holdings … compared to their equity-based compensation hedge more their banks’ interest rate risk. Our results show that CEO inside debt …