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UID:ba03cac1c6ef9289a04ca5734de088bc
CATEGORIES:Seminars
CREATED:20250403T092917
SUMMARY:Steven Ongena - University of Zurich
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p><strong>The Impact of Pay Transparency&nbsp;on Bank Compensation, Employ
 ment, Performance and Opacity</strong></p><p><br />Abstract:</p><p style="t
 ext-align: justify;">How does pay transparency affect bank opacity? We answ
 er this question by studying the impact of the introduction of pay transpar
 ency laws across nine U.S. states with both advert-, individual- and bank-l
 evel data. We find that after the introduction: (1) more adverts include pa
 y information; (2) bank employees, especially loan officers, leave for non-
 banks as wages are higher there; and (3) banks respond to these departures 
 by increasing their own employee compensation. The departures of experience
 d employees and catch-up in wages precede more bank risk-taking and lower b
 ank loan performance, and dispersion in loan loss provisioning!.</p><p>&nbs
 p;</p>
DTSTAMP:20260525T203234Z
DTSTART:20251127T163000Z
DTEND:20251127T180000Z
SEQUENCE:0
TRANSP:OPAQUE
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