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CEO pay incentives and risk-taking: Evidence from bank acquisitions

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Cited by:

  1. Hui Zhang & Vesarach Aumeboonsuke, 2022. "Technological Innovation, Risk-Taking and Firm Performance—Empirical Evidence from Chinese Listed Companies," Sustainability, MDPI, vol. 14(22), pages 1-15, November.
  2. Leledakis, George & Mamatzakis, Emmanuel & Pirgiotakis, Manos & Travlos, Nikolaos, 2017. "What twenty years of regulations have to say about M&As of U.S. banks?," MPRA Paper 82977, University Library of Munich, Germany.
  3. DeYoung, Robert & Huang, Minjie, 2021. "The external effects of bank executive pay: Liquidity creation and systemic risk," Journal of Financial Intermediation, Elsevier, vol. 47(C).
  4. Zhou, Bing & Li, Yu-meng & Sun, Fang-cheng & Zhou, Zhong-guo, 2021. "Executive compensation incentives, risk level and corporate innovation," Emerging Markets Review, Elsevier, vol. 47(C).
  5. Croci, Ettore & Petmezas, Dimitris, 2015. "Do risk-taking incentives induce CEOs to invest? Evidence from acquisitions," Journal of Corporate Finance, Elsevier, vol. 32(C), pages 1-23.
  6. Caliskan, Deren & Doukas, John A., 2015. "CEO risk preferences and dividend policy decisions," Journal of Corporate Finance, Elsevier, vol. 35(C), pages 18-42.
  7. Kieschnick, Robert & Shi, Wenyun, 2023. "Spillover effects in managerial compensation," Journal of Empirical Finance, Elsevier, vol. 70(C), pages 62-73.
  8. Julian Kolm & Christian Laux & Gyöngyi Lóránth, 2017. "Bank Regulation, CEO Compensation, and Boards," Review of Finance, European Finance Association, vol. 21(5), pages 1901-1932.
  9. Fang, Hao & Lee, Jen-Sin & Chung, Chien-Ping & Lee, Yen-Hsien & Wang, Wen-Hao, 2020. "Effect of CEO power and board strength on bank performance in China," Journal of Asian Economics, Elsevier, vol. 69(C).
  10. Tianyi Ma & Minghui Jiang & Xuchuan Yuan, 2019. "Pay Me Later is Not Always Positively Associated with Bank Risk Reduction—From the Perspective of Long-Term Compensation and Black Box Effect," Sustainability, MDPI, vol. 12(1), pages 1-26, December.
  11. Larry D. Wall, 2020. "Is stricter regulation of incentive compensation the missing piece?," Journal of Banking Regulation, Palgrave Macmillan, vol. 21(1), pages 82-94, March.
  12. Hailiang Zou & Yunfeng Lu & Guoyou Qi, 2023. "Does Pay Disparity within Top Management Teams Lead to Bribery Activity? The Moderation of Demographic Diversity," Sustainability, MDPI, vol. 15(4), pages 1-23, February.
  13. Niklas Kreilkamp & Sascha Matanovic & Maximilian Schmidt & Arnt Wöhrmann, 2023. "How executive incentive design affects risk-taking: a literature review," Review of Managerial Science, Springer, vol. 17(7), pages 2349-2374, October.
  14. Giau Bui, Dien & Chen, Yehning & Lin, Chih-Yung & Lin, Tse-Chun, 2021. "Risk-taking of bank CEOs and corporate innovation," Journal of International Money and Finance, Elsevier, vol. 115(C).
  15. Chen, Zhongdong & Ebrahim, Alireza, 2018. "Turnover threat and CEO risk-taking behavior in the banking industry," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 87-105.
  16. Abascal, Ramón & González, Francisco, 2023. "What drives risk-taking incentives embedded in bank executive compensation? Some international evidence," Journal of Corporate Finance, Elsevier, vol. 79(C).
  17. Chiaramonte, Laura & Croci, Ettore & Poli, Federica, 2015. "Should we trust the Z-score? Evidence from the European Banking Industry," Global Finance Journal, Elsevier, vol. 28(C), pages 111-131.
  18. Agyenim Boateng & Vu Hong Thai Nguyen & Min Du & Frank O. Kwabi, 2022. "The impact of CEO compensation and excess reserves on bank risk-taking: the moderating role of monetary policy," Empirical Economics, Springer, vol. 62(4), pages 1575-1598, April.
  19. King, Timothy & Srivastav, Abhishek & Williams, Jonathan, 2016. "What's in an education? Implications of CEO education for bank performance," Journal of Corporate Finance, Elsevier, vol. 37(C), pages 287-308.
  20. Tang, Chun-Hua, 2016. "Impacts of future compensation on the incentive effects of existing executive stock options," International Review of Economics & Finance, Elsevier, vol. 45(C), pages 273-285.
  21. Tianyi Ma & Minghui Jiang & Xuchuan Yuan, 2020. "Cash Salary, Inside Equity, or Inside Debt?—The Determinants and Optimal Value of Compensation Structure in a Long-term Incentive Model of Banks," Sustainability, MDPI, vol. 12(2), pages 1-24, January.
  22. Akbar, Saeed & Kharabsheh, Buthiena & Poletti-Hughes, Jannine & Shah, Syed Zulfiqar Ali, 2017. "Board structure and corporate risk taking in the UK financial sector," International Review of Financial Analysis, Elsevier, vol. 50(C), pages 101-110.
  23. Brandao-Marques, L. & Correa, R. & Sapriza, H., 2012. "International Evidence on Government Support and Risk-Taking in the Banking Sector," Other publications TiSEM 4a9756af-eb63-4867-ae29-3, Tilburg University, School of Economics and Management.
  24. Lyu, Xiaoliang & Ma, Jiameng & Zhang, Xiaochen, 2023. "Social trust and corporate innovation: An informal institution perspective," The North American Journal of Economics and Finance, Elsevier, vol. 64(C).
  25. Sean M. Harkin & Davide S. Mare & Jonathan N. Crook, 2019. "Average pay in banks: do agency problems and bank performance matter?," Review of Quantitative Finance and Accounting, Springer, vol. 53(1), pages 101-122, July.
  26. Mohammad Jizi & Aly Salama & Robert Dixon & Rebecca Stratling, 2014. "Corporate Governance and Corporate Social Responsibility Disclosure: Evidence from the US Banking Sector," Journal of Business Ethics, Springer, vol. 125(4), pages 601-615, December.
  27. Joonho Moon & Amit Sharma & Won Seok Lee, 2017. "Restaurant franchising and top management team," Service Business, Springer;Pan-Pacific Business Association, vol. 11(2), pages 299-319, June.
  28. Dunbar, Craig & Li, Zhichuan (Frank) & Shi, Yaqi, 2020. "CEO risk-taking incentives and corporate social responsibility," Journal of Corporate Finance, Elsevier, vol. 64(C).
  29. Ordu, Umut & Schweizer, Denis, 2015. "Executive compensation and informed trading in acquiring firms around merger announcements," Journal of Banking & Finance, Elsevier, vol. 55(C), pages 260-280.
  30. Efing, Matthias & Hau, Harald & Kampkötter, Patrick & Steinbrecher, Johannes, 2015. "Incentive pay and bank risk-taking: Evidence from Austrian, German, and Swiss banks," Journal of International Economics, Elsevier, vol. 96(S1), pages 123-140.
  31. Chen, Yangyang & Podolski, Edward J. & Rhee, S. Ghon & Veeraraghavan, Madhu, 2017. "Do progressive social norms affect economic outcomes? Evidence from corporate takeovers," Journal of Empirical Finance, Elsevier, vol. 41(C), pages 76-95.
  32. Jia Lu & Agyenim Boateng, 2018. "Board composition, monitoring and credit risk: evidence from the UK banking industry," Review of Quantitative Finance and Accounting, Springer, vol. 51(4), pages 1107-1128, November.
  33. Mavrakana, Christina & Psillaki, Maria, 2019. "Do board structure and compensation matter for bank stability and bank performance? Evidence from European banks," MPRA Paper 95776, University Library of Munich, Germany.
  34. Leledakis, George N. & Pyrgiotakis, Emmanouil G., 2022. "U.S. bank M&As in the post-Dodd–Frank Act era: Do they create value?," Journal of Banking & Finance, Elsevier, vol. 135(C).
  35. Lim, Ivan & Hagendorff, Jens & Armitage, Seth, 2019. "Is the fox guarding the henhouse? Bankers in the Federal Reserve, bank leverage and risk-shifting," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 478-504.
  36. Srivastav, Abhishek & Armitage, Seth & Hagendorff, Jens, 2014. "CEO inside debt holdings and risk-shifting: Evidence from bank payout policies," Journal of Banking & Finance, Elsevier, vol. 47(C), pages 41-53.
  37. Pinto, Helena & Widdicks, Martin, 2014. "Do compensation plans with performance targets provide better incentives?," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 662-694.
  38. Rebel A. Cole & Travis Davidson & Hongxia Wang, 2021. "Why do bank holding companies purchase bank-owned life insurance?," Review of Quantitative Finance and Accounting, Springer, vol. 57(1), pages 29-59, July.
  39. Koerniadi, Hardjo & Krishnamurti, Chandrasekhar & Tourani-Rad, Alireza, 2015. "Cross-border mergers and acquisitions and default risk," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 336-348.
  40. Zifeng Feng & William G. Hardin & Zhonghua Wu, 2024. "REIT Chief Executive Officer (CEO) Compensation in the New Era," The Journal of Real Estate Finance and Economics, Springer, vol. 69(4), pages 651-681, November.
  41. Jennifer Kunz & Mathias Heitz, 2021. "Banks’ risk culture and management control systems: A systematic literature review," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 32(4), pages 439-493, December.
  42. Hagendorff, Bjoern & Hagendorff, Jens & Keasey, Kevin & Gonzalez, Angelica, 2014. "The risk implications of insurance securitization: The case of catastrophe bonds," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 387-402.
  43. Raluca Roman, 2015. "Shareholder activism in banking," Research Working Paper RWP 15-9, Federal Reserve Bank of Kansas City.
  44. Abascal, Ramón & González, Francisco, 2019. "Shareholder protection and bank executive compensation after the global financial crisis," Journal of Financial Stability, Elsevier, vol. 40(C), pages 15-37.
  45. Laetitia Lepetit & Frank Strobel & Laurent Weill, 2024. "Do risky banks pay their employees more?," Working Papers of LaRGE Research Center 2024-09, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
  46. Kim, Kyonghee & Patro, Sukesh & Pereira, Raynolde, 2017. "Option incentives, leverage, and risk-taking," Journal of Corporate Finance, Elsevier, vol. 43(C), pages 1-18.
  47. Koch, Christoffer & Okamura, Ken, 2019. "Why does the FDIC sue?," Journal of Corporate Finance, Elsevier, vol. 59(C), pages 255-275.
  48. Al-Own, Bassam & Minhat, Marizah & Gao, Simon, 2018. "Stock options and credit default swaps in risk management," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 53(C), pages 200-214.
  49. Yan Liu & Carol Padgett & Simone Varotto, 2017. "Corporate Governance, Bank Mergers and Executive Compensation," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 22(1), pages 12-29, January.
  50. Ahmed, Mohamed Shaker & Kumar, Satish, 2023. "Are MBA CEOs really more risk-averse?," International Review of Financial Analysis, Elsevier, vol. 89(C).
  51. Baolei Qi & Mohamed Marie & Ahmed S. Abdelwahed & Ibrahim N. Khatatbeh & Mohamed Omran & Abdallah A. S. Fayad, 2023. "Bank Risk Literature (1978–2022): A Bibliometric Analysis and Research Front Mapping," Sustainability, MDPI, vol. 15(5), pages 1-27, March.
  52. Chesney, Marc & Stromberg, Jacob & Wagner, Alexander F. & Wolff, Vincent, 2020. "Managerial incentives to take asset risk," Journal of Corporate Finance, Elsevier, vol. 65(C).
  53. Stefano Bonini & Ali Taatian, 2023. "Dual holding and bank risk," The Financial Review, Eastern Finance Association, vol. 58(4), pages 735-763, November.
  54. Cowan, Arnold R. & Salotti, Valentina & Schenck, Natalya A., 2022. "The long-term impact of bank mergers on stock performance and default risk: The aftermath of the 2008 financial crisis✰," Finance Research Letters, Elsevier, vol. 48(C).
  55. Timothy King & Jonathan Williams, 2013. "Bank Efficiency and Executive Compensation," Working Papers 13009, Bangor Business School, Prifysgol Bangor University (Cymru / Wales).
  56. Jens Hagendorff & Francesco Vallascas, 2012. "CEO Pay and Risk-taking in Banking: The Roles of Bonus Plans and Deferred Compensation in Curbing Bank Risk-taking," Chapters, in: James R. Barth & Chen Lin & Clas Wihlborg (ed.), Research Handbook on International Banking and Governance, chapter 9, Edward Elgar Publishing.
  57. Le, Anh-Tuan & Doan, Anh-Tuan & Lin, Kun-Li, 2024. "CEO overconfidence and the informativeness of bank stock prices," International Review of Financial Analysis, Elsevier, vol. 94(C).
  58. I‐Ju Chen & Yu‐Yi Lee & Yong‐Chin Liu, 2020. "Bank liquidity, macroeconomic risk, and bank risk: Evidence from the Financial Services Modernization Act," European Financial Management, European Financial Management Association, vol. 26(1), pages 143-175, January.
  59. Paola Bongini & Małgorzata Iwanicz-Drozdowska & Paweł Smaga & Bartosz Witkowski, 2018. "In search of a measure of banking sector distress: empirical study of CESEE banking sectors," Risk Management, Palgrave Macmillan, vol. 20(3), pages 242-257, August.
  60. Anna Dos, 2017. "Multi-criteria decision methods for CSR management – literature review," Managerial Economics, AGH University of Science and Technology, Faculty of Management, vol. 18(1), pages 63-86.
  61. Zhang, Cheng & Yang, Chunhong & Liu, Cheng, 2021. "Economic policy uncertainty and corporate risk-taking: Loss aversion or opportunity expectations," Pacific-Basin Finance Journal, Elsevier, vol. 69(C).
  62. Gande, Amar & Kalpathy, Swaminathan, 2017. "CEO compensation and risk-taking at financial firms: Evidence from U.S. federal loan assistance," Journal of Corporate Finance, Elsevier, vol. 47(C), pages 131-150.
  63. Albring, Susan M. & Khurana, Inder K. & Nejadmalayeri, Ali & Pereira, Raynolde, 2011. "Managerial compensation and the debt placement decision," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1445-1456.
  64. Chao Bian & Christopher Gan & Zhaohua Li & Baiding Hu, 2016. "Corporate social responsibility engagement, corporate financial performance and CEO characteristics," International Journal of Business Governance and Ethics, Inderscience Enterprises Ltd, vol. 11(3), pages 243-265.
  65. Mourouzidou-Damtsa, Stella & Milidonis, Andreas & Stathopoulos, Konstantinos, 2019. "National culture and bank risk-taking," Journal of Financial Stability, Elsevier, vol. 40(C), pages 132-143.
  66. David VanHoose, 2010. "Regulation of Bank Management Compensation," NFI Policy Briefs 2010-PB-06, Indiana State University, Scott College of Business, Networks Financial Institute.
  67. Bharati, Rakesh & Jia, Jingyi, 2018. "Do bank CEOs really increase risk in vega? Evidence from a dynamic panel GMM specification," Journal of Economics and Business, Elsevier, vol. 99(C), pages 39-53.
  68. Srivastav, Abhishek & Armitage, Seth & Hagendorff, Jens & King, Tim, 2018. "Better safe than sorry? CEO inside debt and risk-taking in bank acquisitions," Journal of Financial Stability, Elsevier, vol. 36(C), pages 208-224.
  69. David Hillier & Patrick McColgan & Athanasios Tsekeris, 2022. "How did the Sarbanes–Oxley Act affect managerial incentives? Evidence from corporate acquisitions," Review of Quantitative Finance and Accounting, Springer, vol. 58(4), pages 1395-1450, May.
  70. Boateng, Agyenim & Liu, Yang & Brahma, Sanjukta, 2019. "Politically connected boards, ownership structure and credit risk: Evidence from Chinese commercial banks," Research in International Business and Finance, Elsevier, vol. 47(C), pages 162-173.
  71. Enrico Onali, 2014. "Moral Hazard, Dividends, and Risk in Banks," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 41(1-2), pages 128-155, January.
  72. Onali, Enrico & Galiakhmetova, Ramilya & Molyneux, Philip & Torluccio, Giuseppe, 2016. "CEO power, government monitoring, and bank dividends," Journal of Financial Intermediation, Elsevier, vol. 27(C), pages 89-117.
  73. Sobiech, Anna L. & Chronopoulos, Dimitris K. & Wilson, John O.S., 2021. "The real effects of bank taxation: Evidence for corporate financing and investment," Journal of Corporate Finance, Elsevier, vol. 69(C).
  74. Walter Gontarek & Yacine Belghitar, 2021. "CEO chairman controversy: evidence from the post financial crisis period," Review of Quantitative Finance and Accounting, Springer, vol. 56(2), pages 675-713, February.
  75. Bai, Gang & Elyasiani, Elyas, 2013. "Bank stability and managerial compensation," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 799-813.
  76. Lui, Ariel K.H. & Lo, Chris K.Y. & Ngai, Eric W.T., 2019. "Does mandated RFID affect firm risk? The moderating role of top management team heterogeneity," International Journal of Production Economics, Elsevier, vol. 210(C), pages 84-96.
  77. Chiaramonte, Laura & Dreassi, Alberto & Piserà, Stefano & Khan, Ashraf, 2023. "Mergers and acquisitions in the financial industry: A bibliometric review and future research directions," Research in International Business and Finance, Elsevier, vol. 64(C).
  78. Kentaro Asai, 2016. "Is Capping Executive Bonuses Useful?," IMF Working Papers 2016/196, International Monetary Fund.
  79. Kyung Yoon Kwon & Philip Molyneux & Livia Pancotto & Alessio Reghezza, 2024. "Banks and FinTech Acquisitions," Journal of Financial Services Research, Springer;Western Finance Association, vol. 65(1), pages 41-75, February.
  80. Stacey Beaumont & Raluca Ratiu & David Reeb & Glenn Boyle & Philip Brown & Alexander Szimayer & Raymond Silva Rosa & David Hillier & Patrick McColgan & Athanasios Tsekeris & Bryan Howieson & Zoltan Ma, 2016. "Comments on Shan and Walter: ‘Towards a Set of Design Principles for Executive Compensation Contracts’," Abacus, Accounting Foundation, University of Sydney, vol. 52(4), pages 685-771, December.
  81. Yangyang Chen & Cameron Truong & Madhu Veeraraghavan, 2015. "CEO Risk-Taking Incentives and the Cost of Equity Capital," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 42(7-8), pages 915-946, September.
  82. Mamatzakis, Emmanuel & Zhang, Xiaoxiang & Wang, Chaoke, 2017. "How the corporate governance mechanisms affect bank risk taking," MPRA Paper 78137, University Library of Munich, Germany.
  83. Huang, Yin-Siang & Lee, Cheng-Few & Lin, Chih-Yung, 2023. "Applications of fixed effect models to managerial risk-taking incentives," The Quarterly Review of Economics and Finance, Elsevier, vol. 92(C), pages 249-261.
  84. Rui-Xiang Zhai & Po-Hsin Ho & Chih-Yung Lin & Tran Thi Thuy Linh, 2023. "Bank CEO risk-taking incentives and bank lending quality," Review of Quantitative Finance and Accounting, Springer, vol. 60(3), pages 949-981, April.
  85. Panta, Humnath, 2020. "Does social capital influence corporate risk-taking?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 26(C).
  86. Agyei-Boapeah, Henry & Ntim, Collins G. & Fosu, Samuel, 2019. "Governance structures and the compensation of powerful corporate leaders in financial firms during M&As," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 37(C).
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