Bankers' pay structure and risk
This paper studies the contracting problem between banks and their bankers, embedded in a competitive labour market for banker talent. To motivate effort banks must use some variable remuneration. Such remuneration introduces a risk-shifting problem by creating incentives to inflate early earnings...
| Glavni autor: | |
|---|---|
| Format: | Working paper |
| Izdano: |
University of Oxford
2011
|