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Showing results 1 to 7 of approximately 7.
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Journal Article
Employment in the world's largest banks
Report
Looking beyond the CEO: executive compensation at banks
The literature on executive compensation at banks has proceeded largely under the assumption that a single elasticity can adequately describe the sensitivity of executive pay to firm performance, but theories of performance based pay and tournament pay suggest that this assumption may be incorrect. We test the single-elasticity assumption by comparing the components of compensation and the pay-performance relationship across banks with different characteristics and bank executives of different positions. We find that the structure of compensation varies significantly across firms, with firm ...
Journal Article
Where have all the tellers gone?
An examination of why, in the face of record earnings and ever-increasing demand for their products and services, banks are trimming their payrolls. The article also examines the fate of the job losers, as well as the banking industry's tremendous ability to weather major technological and structural changes.
Report
The effect of employee stock options on bank investment choice, borrowing, and capital
In this paper, we test the hypothesis that granting employee stock options motivates CEOs of banking firms to undertake riskier projects. We also investigate whether granting employee stock options reduces the bank's incentive to borrow while inducing a buildup of regulatory capital. Using a sample of 549 bank-years for publicly traded banks from 1992 to 2002, we find some evidence that the bank's equity volatility (total as well as residual) and asset volatility increase as CEO stock option holdings increase. In addition, it appears that granting employee stock options motivates banks to ...