منابع مشابه
Incentive Features in CEO Compensation in the Banking Industry
he topic of corporate governance in general, and topmanagement compensation in particular, has received enormous attention in recent years.1 Although an increasing literature has examined various aspects of the corporate governance of manufacturing firms in the United States and abroad, the corporate governance of banks and financial institutions has received relatively less focus. Alignment of...
متن کاملBank CEO Optimism and the Financial Crisis∗
I test theories of the recent financial crisis by studying how banks’ pre-crisis investments connect to their CEOs’ beliefs. Using different proxies for beliefs, I find banks with larger housing investments and worse crisis performance had CEOs who were more optimistic ex ante. Banks with the most optimistic CEOs experienced 20 percentage points higher real estate loan growth, and 15 percentage...
متن کاملCEO Compensation and Company Performance
This paper examines the relationship of CEO pay and company performance for 280 firms listed on the New York Stock Exchange for a period from 2006 through 2009. The time frame of the study is a period after the adoption of the Sarbanes Oxley Act and after the SEC approval of the corporate governance rules affecting executive pay for New York Stock Exchange companies. I find there to be a positi...
متن کاملCEO Power, Compensation, and Governance∗
This paper presents a contracting model of governance based on the premise that CEOs are the main promoters of governance change. CEOs use their power to extract higher pay or private benefits, and different governance structures are preferred by different CEOs as they favor one or the other type of compensation. The model explains why good countrywide investor protection breeds good firm gover...
متن کاملUrban agglomeration and CEO compensation
An underlying assumption in the executive compensation literature is that there is a national labor market for CEOs. The urban economics literature, however, documents higher ability among workers in large metropolitans, which results in a real and stable urban wage premium. In this paper, we investigate the link between the spatial clustering of firms in big, central cities (i.e., urban agglom...
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ژورنال
عنوان ژورنال: Journal of Financial Economics
سال: 2014
ISSN: 0304-405X
DOI: 10.1016/j.jfineco.2014.06.006