Is Capping Executive Bonuses Useful?

Is Capping Executive Bonuses Useful?
This paper develops a theoretical framework to study the impact of bonus caps on banks’ risk taking. In the model, labor market price adjustments can offset the direct effects of bonus caps. The calibrated model suggests that bonus caps are only effective when bank executives’ mobility is restricted. It also suggests,... READ MORE...

Publication date: September 2016
ISBN 9781475543254
$18.00

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