We study the determinants of average pay across all levels of staff seniority for UK banks between 2003 and 2012. We show that pay is affected by agency problems but not by bank operating performance. Average pay does not depend on accounting outcomes at the bank level. By contrast, average pay...

We investigate whether factors beyond agency conflict are important in bank governance. Specifically, we examine the possibility that confusion and overlap between the roles of CEO and Chairman have important effects on bank risk and return. Using a new data set for UK banks over the period...