‘Habitation vs. Improvement’ and a Polanyian Perspective on Bank Bail-Outs
نویسندگان
چکیده
منابع مشابه
Bank Bonuses and Bail-Outs
This paper shows that bonus contracts may arise endogenously as a response to agency problems within banks, and analyzes how compensation schemes change in reaction to anticipated bail-outs. If there is a risk-shifting problem, bail-out expectations lead to steeper bonus schemes and even more risk-taking. If there is an effort problem, the compensation scheme becomes flatter and effort decrease...
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ژورنال
عنوان ژورنال: Politics
سال: 2009
ISSN: 0263-3957,1467-9256
DOI: 10.1111/j.1467-9256.2009.01354.x