| Author: | Hubbard, R. Palia, D. |
| Title: | Executive pay and performance: evidence from the U.S. banking industry |
| Journal: | Journal of Financial Economics
1995 : SEP, VOL. 39:1, p. 105-130 |
| Index terms: | PAY COMPANY CONTROL DEREGULATION |
| Language: | eng |
| Abstract: | This paper examines CEO pay in the banking industry and the effect of deregulating the market for corporate control. Using panel data on 147 banks over the 1980s, the authors find higher levels of pay in competitive corporate control markets, i.e., those in which interstate banking is permitted. The authors also find a stronger pay-performance relation in deregulated interstate banking matters. Finally, CEO turnover increases substantially after deregulation. |
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