Articles liés à Executive Compensation in Imperfect Financial Markets

Executive Compensation in Imperfect Financial Markets - Couverture rigide

Cullen, Jay

 
9781782549284: Executive Compensation in Imperfect Financial Markets
Couverture rigide
ISBN 10 : 1782549285 ISBN 13 : 9781782549284
Editeur : Edward Elgar Publishing Ltd, 2014

Synopsis

The recent financial crisis and associated real estate bubble demonstrated the damage that can be caused by imperfect financial market pricing. On the basis of these imperfections, strong financial returns earned by financial institutions in the run-up to 2008 were, in fact, illusory.

Executive Compensation in Imperfect Financial Markets explores the relationship between bank lending, real estate markets and stock market prices. Offering a heterodox view of financial market pricing and its relationship with executive pay, this book offers a competing interpretation of the recent crisis, which emphasizes the role of bank leverage and investor expectations in generating instability - particularly through the interaction of financial institutions with the real estate market. In the process, it reveals that equity-based compensation incentivized increased bank leverage, which was a cardinal cause of the crisis.

This timely book will be an essential read for all legal scholars and policy analysts operating in the field of banking and finance, as well as all those seeking a more rounded understanding of the financial crisis.

Contents:
1. Introduction
2. An Analysis of the Role of Executive Compensation
3. Theories of Securities Market Operation: Principles and Flaws
4. Minsky and the Financial Instability Hypothesis: Implications for Market Efficiency
5. The Global Financial Crisis and the Complex Relationship between Asset Prices, Leverage, and Financial Instability
6. Post-Crisis Reform to Executive Compensation at Financial Institutions
7. Reconstituting Executive Compensation at Financial Institutions: Proposals for Reform
8. Conclusions
Index

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

À propos de l'auteur

Jay Cullen, Head of Department of Law and Criminology, Edge Hill University, UK

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Edward Elgar Publishing Ltd
Date d'édition
2014
Langue
anglais
ISBN 10 
1782549285
ISBN 13 
9781782549284
Reliure
Relié
Nombre de pages
264
Coordonnées du fabricant
non disponible
Personne responsable
non disponible