This paper develops a general equilibrium model for analyzing the interaction of corporate financial and production decisions, consumers’ behavior and government financing. We use the model to investigate how changes in income tax rates and government debt policy affect production, interest...

This study examines executive compensation determinants in the U.S. banking industry. Multiple theories of executive pay are discussed and tested using a relatively homogenous sample. We perform an in-depth look at the corporate governance and ownership structure of the companies selected. We...

This paper considers the design of managerial compensation contracts and their impact on corporate investment decisions and the managerial effort decision. The model relates the compensation scheme to outside share ownership and managerial bargaining position. Using the methods of mechanism...