کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5084772 1477918 2014 11 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Financial regulation in geographically-segmented executive labor markets: Evidence from TARP
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Financial regulation in geographically-segmented executive labor markets: Evidence from TARP
چکیده انگلیسی
Prior literature finds that the Troubled Asset Relief Program's (TARP) executive pay restrictions imposed significant labor market costs on participating banks. I investigate whether outcomes studied in prior literature vary cross-sectionally with the local labor market conditions surrounding the headquarters of TARP participants. Results suggest that the costs borne by banks and their executives from TARP participation are significantly influenced by the strength of executives' local employment alternatives. My evidence suggests that executive labor markets in the financial services industry are geographically segmented, and that regulatory intervention in pay can impose differential costs on firms depending on their geographic location.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Financial Analysis - Volume 35, October 2014, Pages 219-229
نویسندگان
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