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    Executive Compensation and Business Policy Choices at U.S. Commercial Banks

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    Executive Compensation and Business Policy Choices at U.S. Commercial Banks.pdf (1.014Mb)
    Issue Date
    2010-01
    Author
    DeYoung, Robert
    Peng, Emma Y.
    Yan, Meng
    Publisher
    Federal Reserve Bank of Kansas City
    Type
    Article
    Article Version
    Scholarly/refereed, publisher version
    Published Version
    http://www.frbkc.org/PUBLICAT/RESWKPAP/PDF/rwp10-02.pdf
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    Abstract
    This study examines whether and how the terms of CEO compensation contracts at large commercial banks between 1994 and 2006 influenced, or were influenced by, the risky business policy decisions made by these firms. We find strong evidence that bank CEOs responded to contractual risk-taking incentives by taking more risk; bank boards altered CEO compensation to encourage executives to exploit new growth opportunities; and bank boards set CEO incentives in a manner designed to moderate excessive risk-taking. These relationships are strongest during the second half of our sample, after deregulation and technological change had expanded banks’ capacities for risk-taking.
    URI
    http://hdl.handle.net/1808/10085
    Collections
    • School of Business Scholarly Works [212]
    • Distinguished Professors Scholarly Works [918]
    Citation
    DeYoung, Robert. Peng, Emma Y. Yan, Meng. (2010) "Executive Compensation and Business Policy Choices at U.S. Commercial Banks." Journal of Financial and Quantitative Analysis,

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    KU Libraries
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    785-864-8983

    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
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    Contact KU ScholarWorks
    785-864-8983
    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    785-864-8983

    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    Image Credits
     

     

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