We examine whether risk-taking among the largest financial firms in the U.S. is related to CEO equity incentives before the 2008 financial crisis. Using data on U.S. Federal Reserve emergency loans provided to these firms, we find that the amount of emergency loans and total days the loans are...

This volume contains a set of empirical papers by a set of global scholars who examine corporate governance and market regulation from a variety of perspectives. Jiang, Kim and Zhang argue that in certain cases an ex post increase in CEO pay can prevent the ex ante problem of managerial...

FRONT COVER -- ADVANCES IN FINANCIAL ECONOMICS -- COPYRIGHT PAGE -- CONTENTS -- LIST OF CONTRIBUTORS -- THE INCREASE IN CEO PAY AFTER LARGE INVESTMENTS: IS IT PURELY RENT EXTRACTION? -- INTRODUCTION -- HYPOTHESES DEVELOPMENT -- SAMPLE FORMATION -- EMPIRICAL ANALYSES -- CONCLUSION -- NOTES --...