《论银行高管薪酬监管制度》.docVIP

论银行高管薪酬监管制度 Introduction Excessive risk-taking in the financial sector has played an important role in the major financial crisis of 2008–09. There is widespread concern that executive compensation arrangements could have encouraged excessive risk-taking, and that fixing these arrangements will be important in preventing such excesses in the future. But what exactly has been wrong with bank executives’pay, how should it be fixed, and is there a reason for government intervention? These questions are the focus of this paper. We make three contributions. First, we identify key features of execut