We examine the effects of CEO turnover in banks. Incoming bank CEOs face problems from information asymmetry because … banks' operations are opaque and bank risk can change dramatically in a short time. Incoming bank CEOs may therefore change … bank policies to manage their personal risks. Since CEO turnover is usually endogenous, we utilize a setting where CEO …

Usual measures of the risk-taking incentives of bank CEOs do not capture the risk-shifting incentives that the exposure … importance of these incentives for bank CEOs: In a sample of large U.S. financial firms, a higher pre-crisis delta is associated …

We investigate whether bank performance during the recent credit crisis is related to chief executive officer (CEO … larger fraction of compensation in cash bonuses for their CEOs did not perform worse during the crisis. Bank CEOs did not …

debt holders, who prefer less risky investment. Research on banking sector finds that this alignment of interest makes bank …

This study examines whether bank risk is a factor influenced by chief executive officer (CEO) power and equity …

Bank executives' compensation has been widely identified as a culprit in the Global Financial Crisis, and reform of … incentives, empirical research fails to show any correlation between bank CEO equity incentives and bank performance in the … Financial Crisis. We offer an alternative analysis, hypothesizing that bank CEOs' inside debt incentives correlate with reduced …