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Pay for Prudence

Reynolds Holding

We contribute to this debate by documenting the extent to which bankers’ pay contains prudence-related targets, the association between those targets and other incentives, and how the targets affect future bank risk-taking. Using our novel dataset, we document that PfP has existed since the beginning of our sample period in 2001.​

Banking 52
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ESG A Valuation Framework

Value Scope

How do you justify making substantial investments and fundamental changes to corporate structures and culture without empirical evidence that it will make a direct impact on shareholder value, total shareholder return, net present value, and individual rates of return? . Do ESG programs impact firm value?