John, Kose (contributor); Mehran, Hamid (contributor); … - 2007
debtholders. We empirically test two hypotheses derived from this framework: that
the pay-for-performance sensitivity of bank CEO …
specifications and sample criteria.
Key words: banking, regulation, subordinated debt, CEO compensation,
pay-for-performance … with shareholder interest. Their model shows that as leverage increases, the optimal
pay-for-performance sensitivity of …