The Case for Intervening in Bankers’ Pay.
This paper studies the default risk of banks generated by investment and remuneration pressures. Competing banks prefer to pay their banking staff in bonuses and not in fixed wages as risk sharing on the remuneration bill is valuable. Competition for bankers generates a negative externality, driving...
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| Format: | Journal article |
| Language: | English |
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Blackwell Publishing
2012
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