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 …

Since bank deposits and currency are substitutes and banks have monopoly power, higher nominal interest rates lead to … higher deposit spreads. This raises the cost of transaction services, increases bank profits and attracts entry into the …

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank … guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank … cheaply, effectively shifting the risk of some of the potential sovereign default losses on the common central bank …

This paper examines the impact of the Asian crisis on bank stocks across four Western countries and six Asian countries …. In the second half of 1997, Western banks experienced positive returns. In contrast East Asian bank indices incurred … market impact only in Indonesia and the Philippines. Except for the Korean program, IMF programs had little effect on bank …

representatives on corporate boards. If a banking relationship is a substitute for the stock market, then interaction with a bank … monopolistic control over access to external capital markets, then bank interests may conflict with those of other equityholders … structure of the firms' equity. We test for conflicts-of-interest in bank behavior and ask whether the relationship between …