Purpose: This paper aims to examine the relationship between regulation, market discipline and banking distress. Design/methodology/approach: To address the empirical question put forward above, a multivariate logit model is applied to an international sample of 586 banks from 21 European...

In this Paper we use agency theory to study the active role of the CEO in the formulation of corporate strategy. We allow the agent (CEO) to play a role in defining the parameters of the agency problem, in an incomplete contracting model in which the agent can be rewarded based only on financial...