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Share-Based Compensation and the Financial Crisis

Crowe, Amy
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Date
2017
Additional date(s)
2017-05-19
Abstract
The recent recession of 2007-2008, also called the Financial Crisis, presented an abnormal economic environment for the financial services industry. In this paper, I examine fluctuations in executive share-based compensation during the financial crisis and its following recovery. I found that the amount of share-based compensation as a percentage of total compensation had a peaked standard deviation in 2009, a year that marks the beginning of recovery. For example, in 2009 Goldman Sachs used 0% share-based compensation while Citibank used over 90% of executive compensation in the form of share-based compensation. This data suggests that firms use different behavioral and financial methods to counteract the effects of an economic downturn.
Contents
Subject
stock options
 stock awards
 financial crisis
 financial institutions
 share-based compensation
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Crowe__Amy-Honors_Project.pdf
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Accounting
Advisor
Wen, Xiaoyan
URI
https://repository.tcu.edu/handle/116099117/19826
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