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related to multiple and changing equilibria. Results from applying the model to US and five major European banking sectors …
Persistent link: https://www.econbiz.de/10004979444
The global financial crisis of 2007–2008 has given rise to new regulatory initiatives to put restrictions on the size and the term of bankers' pay. We revisit both theoretically and empirically the question of whether these regulations are justified. We model bonuses as a series of sequential...
Persistent link: https://www.econbiz.de/10010734434
the model to US banking data and show that lengthening the standard one-year bonus payment interval has no material impact …
Persistent link: https://www.econbiz.de/10011207862