Promoting Bank Stability through Compensation Reform: Lessons from Iceland
Abstract
This article argues that the program of compensation reform at financial institutions – despite recent wide-ranging changes – remains incomplete. A considerable body of theoretical and empirical research has been developed which, for the most part, suggests that compensation incentives embedded in compensation contracts at banks encouraged risk-taking behaviour which contributed to the Global Financial Crisis. Extensive reforms to compensation...
Paper Details
Title
Promoting Bank Stability through Compensation Reform: Lessons from Iceland
Published Date
Dec 15, 2015
Journal
Volume
11
Issue
2
Pages
333 - 354
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Notes
History