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CEO compensation and banks’ risk-taking during pre and post financial crisis periods
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Shah, Syed Zulfiqar Ali, Akbar, Saeed, Liu, Jai, Liu, Ziyu and Cao, Sichen (2017) CEO compensation and banks’ risk-taking during pre and post financial crisis periods. Research in International Business and Finance, 42 . pp. 1489-1503. doi:10.1016/j.ribaf.2017.07.089 ISSN 0275-5319.
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WRAP-CEO-compensation-banks-risk-financial-crisis-Shah-2017.pdf - Accepted Version - Requires a PDF viewer. Download (582Kb) | Preview |
Official URL: https://doi.org/10.1016/j.ribaf.2017.07.089
Abstract
This study examines the impact of CEO compensation on banks’ risk during both pre and post-financial crisis periods. Our results suggest a negative relationship between CEO bonuses and banks’ risk in the pre-financial crisis period. Similarly, restricted shares and options granted to CEOs in the post-financial crisis period also appear to decrease banks’ risk. In contrast, we observe a positive influence of the Troubled Asset Relief Program (TARP) on banks’ risk. Our results also show that the length of time to maturity of options influences banks’ risk-taking behavior. Our findings have useful implications for
formulating and regulating CEO compensation structure.
| Item Type: | Journal Article | ||||||||
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| Subjects: | H Social Sciences > HF Commerce | ||||||||
| Divisions: | Faculty of Social Sciences > Warwick Business School > Accounting Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Compensation management., Global Financial Crisis, Corporations -- Finance., Chief executive officers -- Salaries, etc., Financial crises -- History -- 21st century. | ||||||||
| Journal or Publication Title: | Research in International Business and Finance | ||||||||
| Publisher: | Elsevier Inc. | ||||||||
| ISSN: | 0275-5319 | ||||||||
| Official Date: | December 2017 | ||||||||
| Dates: |
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| Volume: | 42 | ||||||||
| Page Range: | pp. 1489-1503 | ||||||||
| DOI: | 10.1016/j.ribaf.2017.07.089 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||
| Date of first compliant deposit: | 10 July 2017 | ||||||||
| Date of first compliant Open Access: | 1 February 2019 |
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