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Regulatory constraints on performance-based managerial compensation, bank monitoring, and aggregate loan quality
VanHoose, David D. - In: Atlantic economic journal : AEJ 39 (2011) 4, pp. 315-328
Persistent link: https://www.econbiz.de/10009423442
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Regulating deferred incentive pay
Hoffmann, Florian; Inderst, Roman; Opp, Marcus M. - 2015
Our paper evaluates recent regulatory proposals mandating the deferral of bonus payments and claw-back clauses in the financial sector. We study a broadly applicable principal agent setting, in which the agent exerts effort for an immediately observable task (acquisition) and a task for which...
Persistent link: https://www.econbiz.de/10010518015
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Structured finance influence on financial market stability : evaluation of current regulatory developments
Schütz, Sebastian A. - 2010
worldwide political institutions to approve a more rigorous regulation on financial institutions and predict financial crises … EU regulation on credit rating agencies and current Basel II enhancements. Finally we can determine that most regulatory … counterproductive and a danger for worldwide economic growth. -- structured finance ; ratings ; regulation ; subprime crisis ; Basel II …
Persistent link: https://www.econbiz.de/10008695393
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Rethinking the Use of Credit Ratings in Capital Regulations : Evidence from the Insurance Industry
Hanley, Kathleen Weiss - 2020
We analyze an initiative by insurance regulators to reform capital regulations for mortgage-backed securities (MBS) by replacing credit ratings with third-party estimates of expected credit losses and by considering an insurer's exposure to future losses when determining regulatory capital....
Persistent link: https://www.econbiz.de/10012856865
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A review of the regulatory impact analysis of risk-based capital and related liquidity rules
Hogan, Thomas L. - In: Journal of risk and financial management : JRFM 14 (2021) 1/24, pp. 1-29
This paper reviews the cost-benefit analysis, or “regulatory impact analysis” (RIA), in US bank regulators’ risk-based capital (RBC) rule proposals. We review the principles of cost-benefit analysis and its application by US bank regulators. We provide a brief background on RBC rules and...
Persistent link: https://www.econbiz.de/10012417012
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Is stricter regulation of incentive compensation the missing piece?
Wall, Larry D. - 2019
remain. This paper examines whether stricter regulation of incentive compensation is the missing piece needed to reduce risk … this point, we cannot confidently say that compensation regulation is the missing piece. …
Persistent link: https://www.econbiz.de/10011987459
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The Game Changer : Regulatory Reform and Multiple Credit Ratings
Huang, He; Svec, Jiri; Wu, Eliza - 2021
This paper examines the change in the regulatory use of multiple credit ratings after the Dodd-Frank Act (Dodd-Frank). We find that post Dodd-Frank reform, firms are less likely to demand a third rating (typically from Fitch) for ratings near the high yield (HY) - investment grade (IG) boundary...
Persistent link: https://www.econbiz.de/10013216302
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Historical Perspectives on the Financial Crisis : Ivar Kreuger, the Credit-Rating Agencies, and Two Theories About the Function, and Dysfunction, of Markets
Partnoy, Frank - 2010
This Essay discusses two historical parallels between the current financial crisis and the financial crisis of the late 1920s and 1930s. First, financial innovation was at the core of both crises. In particular, the machinations of Ivar Kreuger illuminate how financial innovation tends to...
Persistent link: https://www.econbiz.de/10013148212
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Banking capital and risk-taking adjustment under capital regulation : the role of financial freedom, concentration and governance control
Lin, Shu Ling; Hwang, Da-yeh; Wang, Keh Luh; Xie, Zhe Wen - In: International journal of management, economics and … 2 (2013) 2, pp. 99-128
the banking industry was under capital regulation. Using the panel data of commercial banks in the USA and non-USA from … theory. In addition, for banks with low capital adequacy ratio, capital and risk adjustment are negatively correlated. This … applies to the verification of bankruptcy cost avoidance theory and managerial risk aversion theory. Finally, banks with lower …
Persistent link: https://www.econbiz.de/10009753457
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Regulatory competition in capital standards with selection effects among banks
Haufler, Andreas; Maier, Ulf - 2016
Several countries have recently introduced national capital standards exceeding the internationally coordinated Basel III rules, thus suggesting a "race to the top" in capital standards. We study regulatory competition when banks are heterogeneous and give loans to firms that produce output in...
Persistent link: https://www.econbiz.de/10011445611