We examine the lending behaviour of small and large banks in the Eurozone during the sovereign debt crisis. Relative to large banks, small banks are less pro-cyclical in that they exhibit more stable lending growth across credit expansion and contraction periods. In peripheral countries, the...

This paper examines whether the motivation of institutional investors in monitoring a firm can influence CEO compensation. We find that greater motivated monitoring institutional ownership is associated with a higher pay-performance sensitivity of CEO compensation, which cannot be explained by...