This book thoroughly explores the characteristics and importance of bank CEOs against the backdrop of growing awareness of the social implications of CEO behavior for the performance and stability of the financial and economic system. After an introductory section on the relevance of CEOs in the banking industry, the connections between the bank CEO labor market, contractual incentives, and compensation structures are examined. The focus then turns to empirical findings concerning the impact that bank CEO compensation has on various firm-level outcomes, such as bank performance and strategies. In addition, the relation between CEO turnover and changes in compensation policies since the financial crisis is discussed. A concluding section presents some fresh empirical evidence deriving from an up-to-date database of traits of CEOs operating in the largest European banks. For PhD students and academics, the surveys offer detailed roadmaps on the empirical research landscape and provide suggestions for future work. The writing style ensures that the content will be readily accessible to all industry practitioners. 1 Introduction.- 2 Banks are special: are bank CEOs alike?.- 3 Theory and stylised facts of bank CEO pay consequences.- 4 Characteristics and pay packages of CEOs at the largest European banks: Some empirical evidence.- 5 Conclusions.
Claudia Curi is Assistant Professor of Finance in the Faculty of Economics and Management at the Free University of Bozen-Bolzano in Italy. She took up this post in 2012, having previously been a research economist at the Central Bank of Luxembourg and a postdoc researcher at the Luxembourg School of Finance. She holds PhD, MSc, and BE degrees in Business and Management Engineering from the University of Rome Tor Vergata, Italy. Her research focuses especially on corporate finance and financial intermediation. She is the author of studieslƒv
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