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Using a large sample of firms from 38 countries over the 2001-2012 period, we find evidence that following say on pay (SoP) laws, CEO pay growth rates decline and the sensitivity of CEO pay to firm performance improves. These changes are mostly concentrated on firms with high excess pay and...
Persistent link: https://www.econbiz.de/10013006494
Using a sample of about 90,000 observations from 38 countries over the 2001-2012 period, we provide three novel findings regarding say on pay (SoP) laws. First, we find robust evidence that SoP laws reduce CEO pay growth rates at firms. Second, such laws decrease the portion of total top...
Persistent link: https://www.econbiz.de/10013062816
total number and 37% of the total volume of M&As around the world since the early 1990s. We survey the literature on cross …
Persistent link: https://www.econbiz.de/10013435159
This paper analyses the proposition that adjusting structure can strengthen safety and therefore promote stability. It examines six proposals: Liikanen, Volcker, the US rule requiring foreign banking organisations (FBOs) to establish an intermediate holding company (IHC), depositor preference,...
Persistent link: https://www.econbiz.de/10013015227
The last financial crisis spurred regulators to emphasize enhanced stability indicators for financial institutions. Therefore, banks have to take into account this new element while defining their strategic decisions and their profitability. The aim of this paper is to provide evidence of the...
Persistent link: https://www.econbiz.de/10012259770
This paper compares four commonly used systemic risk metrics using data on U.S. financial institutions over the period 2005-2014. The four systemic risk measures examined are the (i) marginal expected shortfall, (ii) codependence risk, (iii) delta conditional value at risk, and (iv) lower tail...
Persistent link: https://www.econbiz.de/10012855872
. These events include financial crises, phenomenal incidents that shock the economic world and pose significant challenges …
Persistent link: https://www.econbiz.de/10012206546
allowing for environmental influences such as country macroeconomic conditions, accessibility of banking services and bank type …. While these factors are assumed to directly influence the shape of the technology, we assume that country dummies and bank … banking appears to be associated with higher input usage. Furthermore, by allowing for bank size and international differences …
Persistent link: https://www.econbiz.de/10013138682
‐country variations in (dis)trust in banks. Relying on data from the World Values Survey, we find that trust in banks is lower in …
Persistent link: https://www.econbiz.de/10012836700
Financial exclusion situations persist around the world, despite the financialization processes of the economy in …
Persistent link: https://www.econbiz.de/10012944021