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empirical studies on corporate governance and executive pay at banks and suggest that there is no strong support for regulating …
Persistent link: https://www.econbiz.de/10013132545
Key points:• This article considers how the recent market turmoil affected national banking systems, thereby prompting state measures;• It describes the remuneration problems shown by the financial crisis: rewards for failure; short-term behaviour; inappropriate design of performance...
Persistent link: https://www.econbiz.de/10013136173
We examine the political dynamics which led to the codification of the Principles and Standards for sound compensation practices at financial institutions at international (G 20) level and to their subsequent implementation on both sides of the Atlantic. We show that the regulation of bankers'...
Persistent link: https://www.econbiz.de/10013091649
Persistent link: https://www.econbiz.de/10013064153
The paper outlines the developments in the EU regulatory framework for executive remuneration since 2004 and going through the financial crisis. It also presents the results of an analysis of the remuneration practices adopted by the largest European listed firms before and after the crisis,...
Persistent link: https://www.econbiz.de/10013073163
This paper examines changes in acquirer and target companies' Credit Default Swap (CDS) spreads as a proxy for default risk around official mergers and acquisitions (M&A) announce-ments. Related literature extensively documents wealth effects triggered by M&A from the shareholders' perspective,...
Persistent link: https://www.econbiz.de/10012843225
Recent studies have debated the impact of investor protection law on corporate behavior and value. I exploit the staggered passage of state securities fraud statutes (“blue sky laws”) in the United States to estimate the causal effects of investor protection law on firm financing decisions...
Persistent link: https://www.econbiz.de/10012940724
This paper examines changes in Credit Default Swap (CDS) spreads as a proxy for default risk after M&A announcement for the companies involved. Existing literature extensively documents wealth effects triggered by M&A announcements from the shareholders' perspective, but there is limited...
Persistent link: https://www.econbiz.de/10012852376
Capital Requirements Directive (CRD IV), tackles, amongst other things, the perceived pre-crisis failings in the governance of …
Persistent link: https://www.econbiz.de/10013056692
governance and structures are spreading from the financial sector to the non-financial one. As a consequence, today … incentives, but also by the hard and soft laws tackling corporate governance and remuneration structures. Moreover, regulation … the governance mechanisms, we consider both the role of boards and independent directors, and that of shareholders under …
Persistent link: https://www.econbiz.de/10013045689