Download or read book Bank CEOs written by Claudia Curi and published by Springer. This book was released on 2018-05-22 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book thoroughly explores the characteristics and importance of bank CEOs against the backdrop of growing awareness of the social implications of CEO behavior for the performance and stability of the financial and economic system. After an introductory section on the relevance of CEOs in the banking industry, the connections between the bank CEO labor market, contractual incentives, and compensation structures are examined. The focus then turns to empirical findings concerning the impact that bank CEO compensation has on various firm-level outcomes, such as bank performance and strategies. In addition, the relation between CEO turnover and changes in compensation policies since the financial crisis is discussed. A concluding section presents some fresh empirical evidence deriving from an up-to-date database of traits of CEOs operating in the largest European banks. For PhD students and academics, the surveys offer detailed roadmaps on the empirical research landscape and provide suggestions for future work. The writing style ensures that the content will be readily accessible to all industry practitioners.
Download or read book Pay Without Performance written by Lucian A. Bebchuk and published by Harvard University Press. This book was released on 2004 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Download or read book A Modern Guide to Financial Shocks and Crises written by Ferri, Giovanni and published by Edward Elgar Publishing. This book was released on 2021-12-14 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering a comprehensive guide to financial shocks and crises, this book explores their increasing occurrence in current market economies, as well as their power to wrench the macroeconomy. The book discusses three critical questions: what causes financial shocks; which channels may exacerbate their impact; and what policies could help avoid them or limit their negative effect on the economy and society at large.
Download or read book The Handbook of the Economics of Corporate Governance written by Benjamin Hermalin and published by Elsevier. This book was released on 2017-09-18 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of the Economics of Corporate Governance, Volume One, covers all issues important to economists. It is organized around fundamental principles, whereas multidisciplinary books on corporate governance often concentrate on specific topics. Specific topics include Relevant Theory and Methods, Organizational Economic Models as They Pertain to Governance, Managerial Career Concerns, Assessment & Monitoring, and Signal Jamming, The Institutions and Practice of Governance, The Law and Economics of Governance, Takeovers, Buyouts, and the Market for Control, Executive Compensation, Dominant Shareholders, and more. Providing excellent overviews and summaries of extant research, this book presents advanced students in graduate programs with details and perspectives that other books overlook. - Concentrates on underlying principles that change little, even as the empirical literature moves on - Helps readers see corporate governance systems as interrelated or even intertwined external (country-level) and internal (firm-level) forces - Reviews the methodological tools of the field (theory and empirical), the most relevant models, and the field's substantive findings, all of which help point the way forward
Download or read book The Director s Book Role of Directors for National Banks and Federal Savings Associations written by Office of Office of the Comptroller of the Currency and published by . This book was released on 2019-07-27 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises all national banks and federal savings associations (collectively, banks), as well as federal branches and agencies of foreign banks. In regulating banks, the OCC has the power to:* examine the banks.* approve or deny applications for new charters, branches, capital, or otherchanges in corporate or banking structure.* take supervisory actions against banks that do not comply with lawsand regulations or that otherwise engage in unsafe or unsound practices.The OCC also can remove officers and directors, negotiate agreementsto change banking practices, and issue cease-and-desist (C&D) orders aswell as civil money penalties (CMP).* issue rules and regulations, legal interpretations, and corporate decisionsgoverning investments, lending, and other activities.Boards of directors play critical roles in the successful operation of banks. The OCC recognizes the challenges facing bank directors. The Director's Book: Role of Directors for National Banks and Federal Savings Associations helps directors fulfill their responsibilities in a prudent manner. This book provides an overview of the OCC, outlines directors' responsibilities as well as management's role, explains basic concepts and standards for safe and sound operation of banks, and delineates laws and regulations that apply to banks. To better understand a particular bank activity and its associated risks, directors should refer to the Comptroller's Handbook booklets, including the "Corporate and Risk Governance" booklet. For information generally found in board reports, including "red flags"--ratios or trends that may signal existing or potential problems--directors should refer to Detecting Red Flags in Board Reports: A Guide for Directors..
Download or read book The Future Of Large Internationally Active Banks written by Asli Demirguc-kunt and published by World Scientific. This book was released on 2016-09-16 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Great Financial Crisis of 2007-2010 has had a major impact on large cross-border banks, which are widely blamed for the start and severity of the crisis. As a result, much public policy, both in the United States and elsewhere, has been directed at making these banks safer and less influential by reducing their size and permissible powers through increased government regulation.At the Federal Reserve Bank of Chicago's 18th annual International Banking Conference, held in November 2015, the status of these large cross-border banks was critically evaluated. In collaboration with the World Bank, the conference held discussions on the current regulatory landscape for large and internationally active financial institutions; the impact of regulation on bank permissible activities and international trade; improvements in risk management; necessary repairs to the bank safety net; the resolution of insolvent banks operating across national borders; corporate governance for banks in the new environment; implications for market and government discipline; and, progress in achieving international cooperation.Contributors include international policymakers, practitioners, researchers, and academics from more than 30 countries. The papers from the conference are collected in this volume.
Download or read book The CEO Pay Machine written by Steven Clifford and published by Penguin. This book was released on 2017 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The pay gap between chief executive officers of major U.S. firms and their workers is higher than ever before--depending on the method of calculation, CEOs get paid between 300 and 700 times more than the average worker. Such outsized pay is a relatively recent phenomenon, but ... few detractors truly understand the numerous factors that have contributed to the dizzying upward spiral in CEO compensation. Steven Clifford, a former CEO who has also served on many corporate boards, has a name for these procedures and practices: 'The CEO Pay Machine.' [This book] is Clifford's ... explanation of the 'machine'--how it works, how its parts interact, and how every step pushes CEO pay to higher levels"--
Download or read book Review of Current Investigations and Regulatory Actions Regarding the Mutual Fund Industry written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2004 with total page 1132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Role of Board Oversight in Central Bank Governance Key Legal Design Issues written by Wouter Bossu and published by International Monetary Fund. This book was released on 2019-12-27 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper focuses on the Board oversight of central banks—a central feature of sound governance. This form of oversight is the decision-making responsibility through which an internal body of the central bank—the Oversight Board—ensures that the central bank is well-managed. First, the paper will contextualize the role of Board oversight into the broader legal structure for central bank governance by considering this form of oversight as one of the core decision-making responsibilities of central banks. Secondly, the paper will focus on a number of important legal design issues for Board Oversight, by contrasting the current practices of the IMF membership’s 174 central banks with staff’s advisory practice developed over the past 50 years.
Download or read book Banking Regulation written by René Bösch and published by Sweet & Maxwell. This book was released on 2012 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title provides an indispensable guide for any Scots law student of evidence, accurately covering all the necessary topics for a fundamental understanding of the law of evidence as it stands in Scotland.
Download or read book Executive Compensation and Business Policy Choices at U S Commercial Banks written by Robert DeYoung and published by . This book was released on 2019 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines whether and how the terms of CEO compensation contracts at large, publicly traded commercial banks between 1994 and 2006 influenced, and were influenced by, the risk-profiles of these firms. We find evidence linking contractual risk-taking incentives, which we proxy with standard measures of vega and delta, to risk-increasing business policy choices. Moreover, these linkages became stronger after 1999, when financial industry deregulation created new growth opportunities for commercial banks. Our results suggest that compensation committees provided new incentives for bank CEOs to exploit these growth opportunities, and also to shift from traditional on-balance sheet portfolio lending to less traditional investments (e.g., private-issue mortgage-backed securities) and nontraditional fee-generating activities. Apart from these strategic reallocations, our results also suggest that bank boards designed CEO compensation contracts to limit excessive risk taking, especially after deregulation.
Download or read book Corporate Governance in Banking written by Benton E. Gup and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A heavily researched text especially for advanced students, scholars, and professionals in the field, highly recommended for the economics studies shelves of college libraries. Midwest Book Review While corporate governance in general has received considerable attention from economists in recent years, governance of banks specifically has received relatively little. Yet this is an important area both because banking is a large and important sector and because it is highly regulated so that the stakeholders and directors must share their governance authority with government regulators. This volume helps fill the gap. The 13 chapters, primarily by economists from a number of different countries, analyze governance in banking in both the US and other countries. Thus the reader can evaluate both the quality and effectiveness of bank governance across different economic environments. This makes the volume highly valuable to corporate investors and managers as well as researchers and government policymakers. George Kaufman, Loyola University, US Recent corporate scandals, together with the effects of globalization, have led to an increasing interest in corporate governance issues. Little attention has been paid, however, to international laws and recommendations dealing with corporate governance in banking from a global perspective. This impressive international set of expert contributors academics, practitioners and regulators remedies the lack of attention by examining the various issues and concerns of this important topic. The regulation of corporate banking and accounting is increasingly promoted through various international bodies. Against this background, the contributors explore such aspects of corporate governance as: bank regulation and activity expansion in the US, board structure, community banks, the Enron and WorldCom corporate governance failures, a survey of characteristics of the top 100 world banks, as well as case studies of Australian, German and Hungarian banks. Scholars, regulators, and those on the boards of financial institutions will find the analysis of this understudied area of great interest.
Download or read book Great Companies Deserve Great Boards written by Beverly Behan and published by Macmillan. This book was released on 2011-05-15 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the many changes in governance regulation over the past decade, few boards function as a true corporate asset to the companies they oversee. In this book, Behan offers practical advice that a CEO, Chairman or board member can introduce at the very next meeting. Boardrooms are filled with intelligent, accomplished people—yet seldom achieve their full potential and add the kind of value for the CEO, executive team and company shareholders that many boards are actually capable of. Beverly Behan draws on her experience working with more than 100 boards over the past 14 years—from major Fortune 500s to recent IPOs—offering no-nonsense insights that can take any board from mediocrity to the top of its game including establishing a constructive working relationship with your board; addressing some of the dysfunction that may lie within the board you’ve inherited, and making your board a significant asset to you, your company, and your executive team. Working with the Board of Directors is one of the most important components of any CEO’s job—and most will admit it is something they wish they knew more about. Nearly all CEOs want to change at least something about their board, yet many are unsure how to go about this in the right way. This book not only alerts the reader to common pitfalls that CEO's can make with their boards, it provides workable approaches to a tackle a variety of boardroom issues from getting new talent into the boardroom to engaging effectively with the board on strategy and succession planning.
Download or read book Sarbanes Oxley and the Board of Directors written by Scott Green and published by John Wiley & Sons. This book was released on 2005-08-19 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sarbanes-Oxley and the Board of Directors is a practical, down-to-earth guide for board members. It covers everything from board basics to compliance with regulations, corporate culture and values to assessing and reacting to hostile shareholder activities. Complete with real-world examples, vignettes, case studies, and other information, this guide helps board members, CEOs, CFOs, and others understand their responsibilities and potential liabilities and implement effective corporate governance. It covers building a strong framework for effective governance, ways to protect board members, specific guidance for effective corporate oversight and communications, and more. Sarbanes-Oxley and the Board of Directors gives directors the knowledge, techniques, and tools to serve the company and its stockholders well.
Download or read book Macroeconomic Stability and Financial Regulation Key Issues for the G20 written by and published by CEPR. This book was released on with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Banking supervision and regulation written by Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs and published by The Stationery Office. This book was released on 2009-06-02 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2007 and 2008 saw the biggest financial crisis since the 1930s. Banks looking for better yields from plentiful, cheap money made much more use of complex financial instruments, without fully understanding the risks to which they were exposing themselves and the financial system. Defaults on subprime mortgages underlying some of the instruments shattered confidence and financial markets seized up. The framework of regulation and supervision in Britain failed to avoid or mitigate the crisis. The tripartite authorities in the United Kingdom - Bank of England, Financial Services Authority (FSA) and HM Treasury - failed to maintain financial stability and were found wanting, in part because the roles of the three parties were not well enough defined and it was not clear who was in charge. Too little attention was paid to macro-prudential supervision (oversight of the aggregate impact on financial stability of individual banks' actions). Only the Bank of England and the
Download or read book The Fissured Workplace written by David Weil and published by Harvard University Press. This book was released on 2014-02-17 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the twentieth century, large companies employing many workers formed the bedrock of the U.S. economy. Today, on the list of big business's priorities, sustaining the employer-worker relationship ranks far below building a devoted customer base and delivering value to investors. As David Weil's groundbreaking analysis shows, large corporations have shed their role as direct employers of the people responsible for their products, in favor of outsourcing work to small companies that compete fiercely with one another. The result has been declining wages, eroding benefits, inadequate health and safety protections, and ever-widening income inequality. From the perspectives of CEOs and investors, fissuring--splitting off functions that were once managed internally--has been phenomenally successful. Despite giving up direct control to subcontractors and franchises, these large companies have figured out how to maintain the quality of brand-name products and services, without the cost of maintaining an expensive workforce. But from the perspective of workers, this strategy has meant stagnation in wages and benefits and a lower standard of living. Weil proposes ways to modernize regulatory policies so that employers can meet their obligations to workers while allowing companies to keep the beneficial aspects of this business strategy.
