Outlines previous research on reasons for the many failures of US thrifts and loans during the 1980s, and suggests that crime played a larger part than is generally supposed. Explains the regulatory system set up to deal with failed thrift institutions and analyses all disposals made by the...

Notes recent dramatic growth in international banking, outlines the US historical and legal background to it and reviews previous research trying to explain why banks establish offices outside their home country. Develops a mathematical model to investigate the factors determining the extent of...

Examines the dynamic relationships between stock markets in Japan, Hong Kong, Singapore, Malaysia, Taiwan and Thailand before, during and after the October 1997 crisis. Discusses linear and non‐linear Granger causality tests and applies both to stock market data for three time periods between...

Outlines previous research on the relationship between CEO compensation and firm performance, arguing that in regulated industries the executive skills sought and performance measures used might differ from those in un‐regulated firms. Uses 1992‐1995 data on the US electricity industry to...

Reviews previous research on the effects of CEO compensation structure, outlines the criteria for relative performance evaluation (RPE) and notes the paucity of empirical evidence to support it. Reports a study of the use of RPE for US bank CEO compensation 1976‐1988; and its relationship to...

Outlines previous research on the links between R&D expenditure, firm value and executive compensation; and presents a study of the relationship between R&D expenditure and total cash executive compensation in the US pharmaceutical and computer/telecommunications industries between 1979 and...

Identifies three approaches to controlling the agent‐principal conflict for CEOs (market discipline, compensation structure and monitoring mechanisms) and reviews previous relevant research. Develops a mathematical model of the relationship between pay‐for‐performance sensitivity and...

Classifies previous research on the links between earnings management and managerial opportunism into studies of the links between earnings‐based compensation schemes and opportunistic, short‐term earnings management; and earnings management around CEO changes. Suggests some reasons why the...

Looks at previous research on the differences between multinational corporations (MNCs) and domestic corporations (DCs) and the theories underlying them, relating the ideas to optimal compensation packages for managers. Examines a sample of 724 MNCs and US domestic firms to compare the degree of...