مقررات مالی در بازار کار از لحاظ اجراییات جغرافیایی، بخش بندی شده : شواهدی از TARP
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|40676||2014||11 صفحه PDF||سفارش دهید||10956 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : International Review of Financial Analysis, Volume 35, October 2014, Pages 219–229
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.