Working Paper

01 May 2011

The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises

In the context of the global market for syndicated bank loans, we provide evidence that the collapse of international markets during financial crises can in part be explained by a flight home effect. We show that the home bias of...

Mariassunta Giannetti | Luc Laeven
01 February 2014

Getting Incentives Right: Is Deferred Bank Executive Compensation Sufficient?

In the wake of the global financial crisis, attention has often focused on whether incentives generated by bank executives? compensation programs led to excessive risk-taking. Post-crisis, compensation reform proposals have taken...

Sanjai Bhagat | Brian Bolton | Roberta Romano


How are Bankers Paid?

Bank executive incentives and compensation have been in the spotlight since the 2007-2009 financial crisis. Some claim that there was a corporate...Read more

Benjamin Bennett
Anjan Thakor
31 March 2020