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...
| Հիմնական հեղինակ: | |
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| Ձևաչափ: | Working paper |
| Հրապարակվել է: |
University of Oxford
2011
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