Universal Banking, Governance, and Compensation

Carlos M. Peláez and Carlos A. Peláez

Chapter 4 in Financial Regulation after the Global Recession, 2009, pp 91-120 from Palgrave Macmillan

Abstract: Abstract The first section considers the traditional trade-off between universal banks engaged in all aspects of banking and financial markets and specialized banking focused only on taking deposits to provide loans. Two sections consider the political economy and the economic analysis of the Glass-Steagall Act, which separated investment and commercial banking in the United States. The Financial Modernization Act eliminated the final existing barriers between commercial and investment banking. Hedge funds deserve significant coverage because their regulation is included in most proposals. Corporate governance analyzes the conflicts of interest between management and shareholders. The remuneration of executives has become a critical issue in research and politics. Corporate law provides the legal framework for the market for corporate control.

Keywords: Corporate Governance; Commercial Bank; Hedge Fund; Financial Regulation; Investment Bank (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-25124-3_5

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DOI: 10.1057/9780230251243_5

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