This paper contributes to the literature by indicating how the effect of monetary policies, such as interest rates, the zero lower bound (ZLB) and differential volatility between long-term and short-term interest rates, impact the incentives of firms' managers in the US in recent years and how...

This article contributes to the literature by indicating how certain monetary policies impact the compensation incentives of US managers to adopt riskier business policies. Specifically, based on the agency problems between shareholders and managers and between shareholders and creditors, a...