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Incentive pay and bank risk-taking : evidence from Austrian, German, and Swiss banks

Efing, Matthias; Hau, Harald; Kampkötter, Patrick; … - 2014

We use payroll data on 1.2 million bank employee years in the Austrian, German, and Swiss banking sector to identify … document an economically significant correlation of incentive pay with both the level and volatility of bank trading income … share in the capital markets divisions with the strength of incentive pay in unrelated bank divisions like retail banking …

Persistent link: https://www.econbiz.de/10010412865

Freeze! : financial sanctions and bank responses

Efing, Matthias; Goldbach, Stefan; Nitsch, Volker - 2018

We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...

Persistent link: https://www.econbiz.de/10011952047