Rao, Vadhindran K.; McIntyre, James E. - In: Managerial Finance 19 (1993) 6, pp. 9-17
We examine whether Douglas and Santerre's (1990) substitutes hypothesis obtains for bank holding companies (BHCs); i.e. whether degree of ownership concentration and salary incentives are alternative methods of aligning BHC CEO incentives with those of shareholders. Also examined is the relation...