-wide levels of pay, including by non-banks who compete for talent. The ability of non-executives to jump from a bank employer to … act in the bank's best interests, they will still be trapped into providing incentives that encourage risk-taking by non-executives …, in turn, the amount a non-executive receives, potentially at the expense of long-term bank value. Non-executives …

We examine the impact of so-called "Crisis Contracts" on bank managers' risktaking incentives and on the probability of … occurs and that leads to a form of collective liability for bank managers. We develop a game-theoretic model of a banking … remuneration of bank managers. We establish conditions under which the introduction of Crisis Contracts will reduce the probability …

We model education as an investment in human capital that, like other investments, is appropriately evaluated in a … education, but which implicitly ignores risk, we evaluate the returns by treating the value of human capital as the price of a … of the value of education, these returns are still large enough to offset both the direct and indirect cost of college …

framework by Diebold and Yilmaz (2011), we quantify spillovers between sovereign credit markets and banks in the euro area … factors. We account for interdependencies between sovereign and bank CDS spreads and we derive generalised impulse response … or country-specific bank index to other sovereign or bank CDSs between October 2009 and July 2012. Channels of …