Aspects of the Political Economy of the European Banking Union
The regulatory architecture of the financial system has significantly changed after the global financial crisis of 2008/09. In Europe, the introduction of the Single Rulebook has been a major change and provides the legal foundation for the European Banking Union (EBU). The Single Rulebook consists of a regulation, the Capital Requirements Regulation (CRR), and three main directives targeting capital regulation and compensation of managers, harmonization of deposit insurance schemes, as well as resolution and restructuring rules (Capital Requirements Directive (CRD IV), Deposit Guarantee Schemes Directive (DGSD), Bank Recovery and Resolution Directive (BRRD)).
PhD Graduates Financial Markets
PhD Graduates of the Department of Financial Markets Hannes Böhm: "The Role of...
Productivity: More with Less by Better Available resources are scarce. To sustain our...
Four Research Clusters ...
Financial Incentives and Loan Officer Behavior: Multitasking and Allocation of Effort under an Incomplete Contract
Journal of Financial and Quantitative Analysis,
We investigate the implications of providing loan officers with a nonlinear compensation structure that rewards loan volume and penalizes poor performance. Using a unique data set provided by a large international commercial bank, we examine the main activities that loan officers perform: loan prospecting, screening, and monitoring. We find that when loan officers are at risk of losing their bonuses, they increase prospecting and monitoring. We further show that loan officers adjust their behavior more toward the end of the month when bonus payments are approaching. These effects are more pronounced for loan officers with longer tenures at the bank.
Executive Compensation and Labor Expenses
B.E. Journal of Economic Analysis and Policy,
Using data on US public firms, I uncover a strong and positive correlation between executive compensationand labor expenses. On average, a 1% increase in the wage bill translates into a 0.3% raise in total executivepay. This association is driven by wages rather than by employment growth, is stronger for the incentive thanfor the salary component of executive compensation, and is particularly pronounced in the financial sector.
Reports of the European Forecasting Network (EFN)
Reports of the European Forecasting Network (EFN) The European Forecasting...
Does Social Capital Matter in Corporate Decisions? Evidence from Corporate Tax Avoidance ...
About the CIA and a glass of red wine ... Professor Dr Udo Ludwig on the...
Gross domestic product
Gross domestic product Gross domestic product (GDP) includes the value of all goods and services produced in an economic area during a specific period of time. It is ...