A Theory of Bank Regulation and Management Compensation

Review of Financial Studies

Volumn 13, Issue 1, 2000, Pages 95-125

  John, Kose ^a   Saunders, Anthony ^b   Senbet, Lemma W ^b  

^a NEW YORK UNIVERSITY   (United States)

^b NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0033264177     PISSN: 08939454     EISSN: None     Source Type: Journal    
DOI: 10.1093/rfs/13.1.95     Document Type: Article

References (29)

1. Allen, L. and A. Rai, 1993, "Economies of Scale and Scope in International Banking," Journal of International Financial Markets, Institutions, and Money, 3(2), 1-31.
2. Ang, J., B. Lauterbach, and B. Z. Schreiber, 1997, "Pay at the Executive Suite: How Do U.S. Banks Compensate the Five Most Senior Executives in Each Bank?," working paper, Florida State University, December.
3. Barnea, A., R. A. Haugen, and W. L. Senbet, 1985, Agency Problems and Financial Contracting, Prentice-Hall, Englewood Cliffs, N. J.
4. Barth, J. R., P. F. Bartholomew, and C. J. Labich, 1990, "Moral Hazard and the Thrift Crisis: An Empirical Analysis," Consumer Finance Law: Quarterly Report, 9, 22-34.
5. Berger, A., and L. J. Mester, 1997, "Inside the Black Box: What Explains Differences in the Efficiencies of Financial Institutions," Journal of Banking and Finance, 21, 895-947.
6. Chan, Y., S. I. Greenbaum, and A. V. Thakor, 1992, "Is Fairly Priced Deposit Insurance Possible?," Journal of Finance, 47, 227-246.
7. Cole, R. A., J. McKenzie, and L. White, 1990, "Deregulation Gone Awry: Moral Hazard in the Thrift Industry," working paper, Stern School of Business, New York University, December.
8. Dybvig, P. H., and J. F. Zender, 1991, "Capital Structure and Dividend Irrelevance with Asymmetric Information," Review of Financial Studies, 4, 201-219.
9. Esty, B. C., 1998, "The Impact of Contingent Liability on Commercial Bank Risk Taking," Journal of Financial Economics, 47, 189-212.
10. Evans, J., T. H. Noe, and J. H. Thorton, Jr., 1997, "Regulatory Distortion of Management Compensation: The Case of Golden Parachutes for Bank Managers," Journal of Banking and Finance, 21, 825-848.
11. Flannery, M. J., 1989, "Capital Regulation and Insured Bank's Choice of Individual Loan Default Risks," Journal of Monetary Economics, 24, 235-258.
12. Gilson, S. C., 1989, "Management Turnover and Financial Distress," Journal of Financial Economics, 25, 241-262.
13. Gilson, S. C., and M. R. Vetsuypens. 1993, "CEO Compensation in Financially Distressed Firms: An Empirical Analysis," Journal of Finance, 48, 425-458.
14. Green, R. C., 1984, "Investment Incentives, Debt and Warrants," Journal of Financial Economics, 13, 115-136.
15. Harris, M., and A. Raviv, 1979, "Optimal Incentive Contracts with Imperfect Information," Journal of Economic Theory, 20, 231-259.
16. Harris, M., and A. Raviv, 1988a, "Corporate Control Contests and Capital Structure," Journal of Financial Economics, 20, 55-86.
17. Harris, M., and A. Raviv, 1988b, "Corporate Governance: Voting Rights and Majority Rules," Journal of Financial Economics, 20, 203-235.
18. Holmstrom, B., 1979, "Moral Hazard and Observability," Bell Journal of Economics, 10, 74-91.
19. Houston J., and C. James, 1993, "Management and Organizational Changes in Banking: A Comparison of Regulatory Intervention with Private Creditor Actions in Nonbank Firms," Carnegie-Rochester Conference Series on Public Policy, 38, 143-178.
20. Jensen, M., 1986, "Agency Costs of Free Cash Flow, Corporate Finance and Takeovers," American Economic Renew, 76, 323-329.
21. Jensen, M., and W. Meckling, 1976, "Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure," Journal of Financial Economics, 3, 305-360.
22. John, T. A., and K. John, 1993, "Top-Management Compensation and Capital Structure," Journal of Finance, 48, 949-974.
23. John K., T. A. John and L. W. Senbet, 1991, "Risk-Shifting Incentives of Depository Institutions: A New Perspective on Federal Deposit Insurance Reform," Journal of Banking and Finance, 15, 895-915.
24. Kane, E. J., 1986, "Appearance and Reality in Deposit Insurance: The Case for Reform," Journal of Banking and Finance, 10, 175-188.
25. Knopf, J. D., and J. L. Teall, 1996, "Risk-Taking Behavior in the U.S. Thrift Industry: Ownership Structure and Regulation Changes," Journal of Banking and Finance, 20, 1329-1350.
26. Madan, D. B., L. W. Senbet, and B. Soubra, 1993, "Capital Structure and the Design of Managerial Compensation," working paper, University of Maryland, December.
27. Mei J., and A. Saunders, 1997, "Have U.S. Financial Institutions' Real Estate Investments Exhibited "Trend-Chasing" Behavior?," Review of Economics and Statistics, 79 (2), 248-258.
28. Myers, S. C., and N. S., Majluf, 1984, "Corporate Financing and Investment Decisions When Firms Have Information That Investors Do Not Have," Journal of Financial Economics, 13, 187-221.
29. Saunders, A., E. Strock, and N. Travlos, 1990, "Ownership Structure, Deregulation and Bank Risk-Taking," Journal of Finance, 45, 643-654.