the effect of a state's interstate banking regulation on the level and structure of bank CEO compensation. Using panel … control markets (i.e., where interstate banking is permitted) require talented managers whose levels of compensation are … higher. We also find that the compensation-performance relationship is stronger than for managers in markets where interstate …

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 …

bank risk taking, commercial bank failure, interest rates on loans, and market structure. We propose a market structure … addition to aggregate shocks to the fraction of performing loans in their portfolio. A nontrivial bank size distribution arises … consistent with untargeted business cycle properties, the bank lending channel, and empirical studies of the role of …

for adjustments of compensation and bank assets and for possible dismissal of the CEO. For continuing CEOs, the change in …

Managers' incentives may conflict with those of shareholders or creditors, particularly at leveraged, opaque banks …

An examination of U.S. banking history shows that economically efficient private bank money requires that information …-revealing securities markets for bank liabilities be closed. That is, banks are optimally opaque, which is why they are regulated and … examined. I show this by examining the transition from private bank notes, the predominant form of money before the U.S. Civil …

the area that would eventually become the Manufacturing Belt. Using a new bank census, the paper shows that these changes …