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CEO Pay Gap and Bank Risk-taking
DeYoung, Robert - 2019
The large compensation received by bank executives is among the many factors blamed for the risk-taking that led to the 2008-2009 financial crisis. We test whether and how pay disparities between CEO and non-CEO executives—the so-called CEO pay gap—influenced risk taking at publicly traded...
Persistent link: https://www.econbiz.de/10012858941
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CEO Compensation and Risk-Taking at Financial Firms : Evidence from U.S. Federal Loan Assistance
Gande, Amar - 2017
We examine whether risk-taking among the largest financial firms in the U.S. is related to CEO equity incentives before the 2008 financial crisis. Using data on U.S. Federal Reserve emergency loans provided to these firms, we find that the amount of emergency loans and total days the loans are...
Persistent link: https://www.econbiz.de/10012975959
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Compensation Vega, Deregulation and Risk-Taking : Lessons from the U.S. Banking Industry
Belkhir, Mohamed - 2010
This study examines three issues related to the sensitivity of bank CEO compensation to risk, or vega: (1) its relevance compared with CEO compensation vega in industrial firms; (2) its determinants; and (3) its effect on bank risk-taking. Using a sample of 156 U.S. bank holding companies (BHCs)...
Persistent link: https://www.econbiz.de/10013147144
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Corporate Governance und Unternehmenserfolg : eine empirische Analyse des Zusammenhangs zwischen den Führungs-, Kontroll- und Anreizstrukturen und der Geschäftsentwicklung deutsche...
Steinbrecher, Johannes - 2016
Das internationale Bankensystem stand in den vergangenen Jahren im Fokus des öffentlichen Interesses. Bei der Diskussion möglicher Optionen zur Verbesserung der Finanzsystemstabilität rückt zunehmend die Corporate Governance in Banken in den Fokus. Der vorliegende Forschungsbericht widmet...
Persistent link: https://www.econbiz.de/10011742813
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CEO Inside Debt and Hedging Decisions : Lessons from the U.S. Banking Industry
Belkhir, Mohamed - 2012
inside debt holdings have a positive effect on the extent to which a bank uses interest rate derivatives for hedging purposes …
Persistent link: https://www.econbiz.de/10013097545
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Trading away incentives
Colonnello, Stefano; Curatola, Giuliano Antonio; Xia, Shuo - 2022 - This draft: October 19, 2022
Equity pay has been the primary component of managerial compensation packages at US public firms since the early 1990s. Using a comprehensive sample of top executives from 1992-2020, we estimate to what extent they trade firm equity held in their portfolios to neutralize increments in ownership...
Persistent link: https://www.econbiz.de/10013411812
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Trading away incentives
Colonnello, Stefano; Curatola, Giuliano Antonio; Xia, Shuo - 2022
Equity pay has been the primary component of managerial compensation packages at US public firms since the early 1990s. Using a comprehensive sample of top executives from 1992-2020, we estimate to what extent they trade firm equity held in their portfolios to neutralize increments in ownership...
Persistent link: https://www.econbiz.de/10013412974
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Equity incentives, disclosure quality, and stock liquidity risk
Wruck, Karen H.; Wu, Yi Lin - 2017
We provide evidence that CEO equity incentives, especially stock options, influence stock liquidity risk via information disclosure quality. We document a negative association between CEO options and the quality of future managerial disclosure policy. Contributing to the literature on CEO...
Persistent link: https://www.econbiz.de/10011963233
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Industry Tournament Incentives and Corporate Hedging Policies
Lonare, Gunratan - 2020
corporate hedging policies. We exploit the textual analysis of 10-Ks to generate corporate hedging proxies. We find that the … of corporate hedging on the adverse effects of risk-inducing ITIs on the cost of debt and stock price crash risk, which … could be the possible reasons for the relation. Also, the relation between ITIs and corporate hedging is less pronounced for …
Persistent link: https://www.econbiz.de/10012849052
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CEO Bonus Compensation and Bank Default Risk : Evidence from the U.S. and Europe
Vallascas, Francesco - 2017
We investigate the link between the incentive mechanisms embedded in CEO cash bonuses and the riskiness of banks. For a sample of U.S. and European banks, we employ the Merton distance to default model to show that increases in CEO cash bonuses lower the default risk of a bank. However, we find...
Persistent link: https://www.econbiz.de/10012976340