This article presents a model describing an optimal compensation contract for the manager. The model is based on an appropriate balance of power between the shareholder who holds the right to receive dividends and the right to dismiss the manager and the manager who holds the right to wages and...

[fre] La réglementation prudentielle n'est qu'une des composantes du contrôle bancaire ; son rôle est néanmoins crucial. Si son objectif de sécurité et de stabilité du secteur bancaire est généralement admis, le choix de ses instruments est plus controversé. Une analyse comparée de la...

This article tests the possibility and the degree of persistence of self-fulfilling banking panics through an experimental protocol. Panics are proved to be persistent phenomena that are difficult to prevent. However, it seems possible to curb them through a learning effect caused by a temporary...