메뉴 건너뛰기




Volumn 48, Issue 1, 2013, Pages 165-196

Executive compensation and business policy choices at U.S. commercial banks

Author keywords

[No Author keywords available]

Indexed keywords


EID: 84876710413     PISSN: 00221090     EISSN: 17566916     Source Type: Journal    
DOI: 10.1017/S0022109012000646     Document Type: Article
Times cited : (220)

References (37)
  • 2
    • 0040898637 scopus 로고    scopus 로고
    • Managerial Entrenchment and Capital Structure Decisions
    • Berger, P. G.; E. Ofek; and D. L. Yermack. Managerial Entrenchment and Capital Structure Decisions. Journal of Finance, 52 (1997), 1411-1438.
    • (1997) Journal of Finance , vol.52 , pp. 1411-1438
    • Berger, P.G.1    Ofek, E.2    Yermack, D.L.3
  • 3
    • 77956935661 scopus 로고    scopus 로고
    • Stock and Option Grants with Performance-Based Vesting Provisions
    • Bettis, C.; J. Bizjak; J. Coles; and S. Kalpathy. Stock and Option Grants with Performance-Based Vesting Provisions. Review of Financial Studies, 23 (2010), 3849-3888.
    • (2010) Review of Financial Studies , vol.23 , pp. 3849-3888
    • Bettis, C.1    Bizjak, J.2    Coles, J.3    Kalpathy, S.4
  • 4
    • 85015692260 scopus 로고
    • The Pricing of Options and Corporate Liabilities
    • Black, F., and M. Scholes. The Pricing of Options and Corporate Liabilities. Journal of Political Economy, 81 (1973), 637-654.
    • (1973) Journal of Political Economy , vol.81 , pp. 637-654
    • Black, F.1    Scholes, M.2
  • 5
    • 0032116927 scopus 로고    scopus 로고
    • The Influence of Institutional Investors on Myopic R&D Investment Behavior
    • Bushee, B. J. The Influence of Institutional Investors on Myopic R&D Investment Behavior. Accounting Review, 73 (1998), 305-333.
    • (1998) Accounting Review , vol.73 , pp. 305-333
    • Bushee, B.J.1
  • 6
    • 33644796781 scopus 로고    scopus 로고
    • Does Stock Option-Based Executive Compensation Induce Risk-Taking? An Analysis of the Banking Industry
    • Chen, C. R.; T. L. Steiner; and A. M. Whyte. Does Stock Option-Based Executive Compensation Induce Risk-Taking? An Analysis of the Banking Industry. Journal of Banking and Finance, 30 (2006), 915-945.
    • (2006) Journal of Banking and Finance , vol.30 , pp. 915-945
    • Chen, C.R.1    Steiner, T.L.2    Whyte, A.M.3
  • 10
    • 0001245231 scopus 로고    scopus 로고
    • The Use of Equity Grants to Manage Optimal Equity Incentive Levels
    • Core, J., and W. Guay. The Use of Equity Grants to Manage Optimal Equity Incentive Levels. Journal of Accounting and Economics, 28 (1999), 151-184.
    • (1999) Journal of Accounting and Economics , vol.28 , pp. 151-184
    • Core, J.1    Guay, W.2
  • 11
    • 0036017572 scopus 로고    scopus 로고
    • Estimating the Value of Employee Stock Option Portfolios and Their Sensitivities to Price and Volatility
    • Core, J., and W. Guay, Estimating the Value of Employee Stock Option Portfolios and Their Sensitivities to Price and Volatility. Journal of Accounting Research, 40 (2002), 613-630.
    • (2002) Journal of Accounting Research , vol.40 , pp. 613-630
    • Core, J.1    Guay, W.2
  • 13
    • 21844488343 scopus 로고
    • Bank CEO Pay-Performance Relations and the Effects of Deregulation
    • Crawford, A. J.; J. R. Ezzell; and J. A. Miles. Bank CEO Pay-Performance Relations and the Effects of Deregulation. Journal of Business, 68 (1995), 231-256.
    • (1995) Journal of Business , vol.68 , pp. 231-256
    • Crawford, A.J.1    Ezzell, J.R.2    Miles, J.A.3
  • 14
    • 0040925656 scopus 로고    scopus 로고
    • Executive Compensation and Corporate Acquisition Decisions
    • Datta, S.; M. Iskandar-Datta; and K. Raman. Executive Compensation and Corporate Acquisition Decisions. Journal of Finance, 56 (2001), 2299-2336.
    • (2001) Journal of Finance , vol.56 , pp. 2299-2336
    • Datta, S.1    Iskandar-Datta, M.2    Raman, K.3
  • 15
    • 0347137950 scopus 로고    scopus 로고
    • Product Mix and Earnings Volatility at Commercial Banks: Evidence from a Degree of Total Leverage Model
    • DeYoung, R., and K. P. Roland. Product Mix and Earnings Volatility at Commercial Banks: Evidence from a Degree of Total Leverage Model. Journal of Financial Intermediation, 10 (2001), 54-84.
    • (2001) Journal of Financial Intermediation , vol.10 , pp. 54-84
    • Deyoung, R.1    Roland, K.P.2
  • 16
    • 73449137204 scopus 로고    scopus 로고
    • A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium
    • Edmans, A.; X. Gabaix; and A. Landier. A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium. Review of Financial Studies, 22 (2009), 4881-4917.
    • (2009) Review of Financial Studies , vol.22 , pp. 4881-4917
    • Edmans, A.1    Gabaix, X.2    Landier, A.3
  • 18
    • 0042325508 scopus 로고    scopus 로고
    • On the Compensation Implications of Commercial Bank Entry into Investment Banking
    • Fields, L. P., and D. R. Fraser. On the Compensation Implications of Commercial Bank Entry into Investment Banking. Journal of Banking and Finance, 23 (1999), 1261-1276.
    • (1999) Journal of Banking and Finance , vol.23 , pp. 1261-1276
    • Fields, L.P.1    Fraser, D.R.2
  • 19
    • 34548493706 scopus 로고    scopus 로고
    • Taking a View: Corporate Speculation, Governance, and Compensation
    • Geczy, C. C.; B. A. Minton; and C. M. Schrand. Taking a View: Corporate Speculation, Governance, and Compensation. Journal of Finance, 62 (2007), 2405-2443.
    • (2007) Journal of Finance , vol.62 , pp. 2405-2443
    • Geczy, C.C.1    Minton, B.A.2    Schrand, C.M.3
  • 20
    • 0002345792 scopus 로고    scopus 로고
    • The Sensitivity of CEO Wealth to Equity Risk: An Analysis of the Magnitude and Determinants
    • Guay, W. R. The Sensitivity of CEO Wealth to Equity Risk: An Analysis of the Magnitude and Determinants. Journal of Financial Economics, 53 (1999), 43-71
    • (1999) Journal of Financial Economics , vol.53 , pp. 43-71
    • Guay, W.R.1
  • 21
    • 0000265067 scopus 로고
    • CEO Compensation and Bank Risk: Is Compensation in Banking Structured to Promote Risk Taking?
    • Houston, J. F., and C. James. CEO Compensation and Bank Risk: Is Compensation in Banking Structured to Promote Risk Taking? Journal of Monetary Economics, 36 (1995), 405-431.
    • (1995) Journal of Monetary Economics , vol.36 , pp. 405-431
    • Houston, J.F.1    James, C.2
  • 22
    • 0000072575 scopus 로고
    • Executive Pay and Performance: Evidence from the U.S. Banking Industry
    • Hubbard, R. G., and D. Palia. Executive Pay and Performance: Evidence from the U.S. Banking Industry. Journal of Financial Economics, 39 (1995), 105-130.
    • (1995) Journal of Financial Economics , vol.39 , pp. 105-130
    • Hubbard, R.G.1    Palia, D.2
  • 24
    • 44649197264 scopus 로고
    • Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure
    • Jensen, M. C., and W. H. Meckling. Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3 (1976), 305-360.
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.C.1    Meckling, W.H.2
  • 25
    • 84936016411 scopus 로고
    • Performance Pay and Top-Management Incentives
    • Jensen, M. C., and K. J. Murphy. Performance Pay and Top-Management Incentives. Journal of Political Economy, 98 (1990), 225-264.
    • (1990) Journal of Political Economy , vol.98 , pp. 225-264
    • Jensen, M.C.1    Murphy, K.J.2
  • 26
    • 84993908989 scopus 로고
    • Top-Management Compensation and Capital Structure
    • John, T. A., and K. John. Top-Management Compensation and Capital Structure. Journal of Finance, 48 (1993), 949-974.
    • (1993) Journal of Finance , vol.48 , pp. 949-974
    • John, T.A.1    John, K.2
  • 27
    • 0042170121 scopus 로고    scopus 로고
    • The Volatility and Price Sensitivities of Managerial Stock Option Portfolios and Corporate Hedging
    • Knopf, J. D.; J. Nam; and J. H. Thornton, Jr. The Volatility and Price Sensitivities of Managerial Stock Option Portfolios and Corporate Hedging. Journal of Finance, 57 (2002), 801-813.
    • (2002) Journal of Finance , vol.57 , pp. 801-813
    • Knopf, J.D.1    Nam, J.2    Thornton Jr., J.H.3
  • 28
    • 0011088442 scopus 로고
    • Additional Evidence on Equity Ownership and Corporate Value
    • McConnell, J. J., and H. Servaes. Additional Evidence on Equity Ownership and Corporate Value. Journal of Financial Economics, 27 (1990), 595-612.
    • (1990) Journal of Financial Economics , vol.27 , pp. 595-612
    • McConnell, J.J.1    Servaes, H.2
  • 30
    • 79251484378 scopus 로고    scopus 로고
    • Pay for Performance? CEO Compensation and Acquirer Returns in BHCs
    • Minnick, K.; H. Unal; and L. Yang. Pay for Performance? CEO Compensation and Acquirer Returns in BHCs. Review of Financial Studies, 24 (2011), 439-472.
    • (2011) Review of Financial Studies , vol.24 , pp. 439-472
    • Minnick, K.1    Unal, H.2    Yang, L.3
  • 31
    • 33645896609 scopus 로고
    • Management Ownership and Market Valuation: An Empirical Analysis
    • Morck, R.; A. Shleifer; and R. W. Vishny. Management Ownership and Market Valuation: An Empirical Analysis. Journal of Financial Economics, 20 (1988), 293-315.
    • (1988) Journal of Financial Economics , vol.20 , pp. 293-315
    • Morck, R.1    Shleifer, A.2    Vishny, R.W.3
  • 32
    • 30744460865 scopus 로고    scopus 로고
    • The Effect of Managerial Incentives to Bear Risk on Corporate Capital Structure and R&D Investment
    • Nam, J.; R. E. Ottoo; and J. H. Thornton, Jr. The Effect of Managerial Incentives to Bear Risk on Corporate Capital Structure and R&D Investment. Financial Review, 38 (2003), 77-101.
    • (2003) Financial Review , vol.38 , pp. 77-101
    • Nam, J.1    Ottoo, R.E.2    Thornton Jr., J.H.3
  • 33
    • 0036153369 scopus 로고    scopus 로고
    • Does Executive Portfolio Structure Affect Risk Management? CEO Risk-Taking Incentives and Corporate Derivatives Usage
    • Rogers, D. A. Does Executive Portfolio Structure Affect Risk Management? CEO Risk-Taking Incentives and Corporate Derivatives Usage. Journal of Banking and Finance, 26 (2002), 271-295.
    • (2002) Journal of Banking and Finance , vol.26 , pp. 271-295
    • Rogers, D.A.1
  • 34
    • 0012272111 scopus 로고    scopus 로고
    • Mortgage Banking Cost Structure: Resolving an Enigma
    • Rossi, C. V. Mortgage Banking Cost Structure: Resolving an Enigma. Journal of Economics and Business, 50 (1998), 219-234.
    • (1998) Journal of Economics and Business , vol.50 , pp. 219-234
    • Rossi, C.V.1
  • 36
    • 2342505938 scopus 로고
    • The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies
    • Smith, C. W., Jr., and R. L. Watts. The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies. Journal of Financial Economics, 32 (1992), 263-292.
    • (1992) Journal of Financial Economics , vol.32 , pp. 263-292
    • Smith Jr., C.W.1    Watts, R.L.2
  • 37
    • 0008443175 scopus 로고    scopus 로고
    • Information Production and Capital Allocation: Decentralized versus Hierarchical Firms
    • Stein, J. C. Information Production and Capital Allocation: Decentralized versus Hierarchical Firms. Journal of Finance, 57 (2002), 1891-1921.
    • (2002) Journal of Finance , vol.57 , pp. 1891-1921
    • Stein, J.C.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.