Are Bankers Worth Their Pay? Evidence from a Talent Measure
نویسندگان
چکیده
منابع مشابه
Are Manufacturing Workers Really Worth Their Pay? WPS/94-12
That is, countries with more skilled labour should have higher productivity than countries with less skilled workers, 1 holding all factors constant. Bartel and Lichetenberg (1987) show that firms with new capital stock have a higher demand for educated workers 2 relative to uneducated workers because skilled workers are able to implement innovations more quickly and thereby reduce a firm's cos...
متن کاملGovernment Distortions, Bankers’ Pay and Excessive Risk
If debt markets can price the risk of projects accurately, then the interests of shareholders and the regulator diverge. Shareholders see their value maximised by an equity-rewarded executive. However we demonstrate that such executives destroy welfare by selecting excessively risky projects due to two types of government-induced distortions: the debt tax shield and the implicit too-big-to-fail...
متن کاملOn Bankers and Their Incentives
I model the principal-agent problem in a banking context, where the agent must not only be induced to exert costly unveri able e¤ort but also to exercise duciary discretion in lending money on behalf of an employing bank. I show that the spread in wage outcomes necessary to induce duciary discretion may be prohibitively expensive; instead, the bank may opt for a second-best solution where exc...
متن کاملWater Ecosystem Services in Northern Australia—How Much Are They Worth and Who Should Pay for Their Provision?
There is ongoing pressure to develop the largely unaltered Daly River catchment in northern Australia for agriculture. However, a choice experiment among people in the region and in Australia's largest city, Sydney, shows that people are prepared to pay substantial amounts to maintain the quality of its ecosystem services. The total stated willingness-to-pay (WTP) for a Daly River conservation ...
متن کاملFrom Builders to Bankers
The notion of business development as a partial cure to the economic condition of blacks is not a new one, but black leaders have never unanimously agreed that business ownership is an effective instrument of economic success. The violence and civil disorders of the 1960s, however, spurred strong interest in programs to develop and promote both urban black business and black-owned and controlle...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2014
ISSN: 1556-5068
DOI: 10.2139/ssrn.2393110