The Bonus-Driven “Rainmaker” Financial Firm: How These Firms Enrich Top Employees, Destroy Shareholder Value and Create Systemic Financial Instability
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- Peter Skott & Frederick Guy, 2013. "Power, Luck and Ideology in a Model of Executive Pay," UMASS Amherst Economics Working Papers 2013-01, University of Massachusetts Amherst, Department of Economics.
- Stefan Andrei NESTIAN, 2017. "The Perverse Incentive €“ A General Concern In Managerial Systems," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 11(1), pages 905-917, November.
- Krishnan Sharma, 2012. "Financial sector compensation and excess risk-taking—a consideration of the issues and policy lessons," Working Papers 115, United Nations, Department of Economics and Social Affairs.
- James Crotty, 2010. "The Bonus-Driven “Rainmaker” Financial Firm: How These Firms Enrich Top Employees, Destroy Shareholder Value and Create Systemic Financial Instability (revised)," Working Papers wp209_revised3, Political Economy Research Institute, University of Massachusetts at Amherst.
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More about this item
Keywords
bonuses; investment banks; leverage; financial crisis; perverse incentives;All these keywords.
JEL classification:
- G01 - Financial Economics - - General - - - Financial Crises
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BAN-2009-11-07 (Banking)
- NEP-PKE-2009-11-07 (Post Keynesian Economics)
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