Do bank CEOs really increase risk in vega? Evidence from a dynamic panel GMM specification
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DOI: 10.1016/j.jeconbus.2018.06.001
Abstract: Abstract Previous executive compensation studies find that firm risk increases in the risk-taking incentive (vega) of CEOs’ compensation packages. However, the standard methodology of two-stage least squares (2SLS) regression can suffer from invalid instruments. Using… read more here.
Keywords: risk; risk vega; gmm specification; dynamic panel ... See more keywords