Chief executive officer pay, incentives, talent and risk-taking: Excessive pay, regulation and the global financial crisis. The Prime Minister has requested the regulators, APRA and Treasury, to come up with rules that would prevent a repeat of the trillion dollar bailouts and guarantees to the financial sector and banks at risk of failure. Excessive pay and risk-taking by bank executives shoulder made the blame for the global crisis that has already cost Australian investors and taxpayers a siz ....Chief executive officer pay, incentives, talent and risk-taking: Excessive pay, regulation and the global financial crisis. The Prime Minister has requested the regulators, APRA and Treasury, to come up with rules that would prevent a repeat of the trillion dollar bailouts and guarantees to the financial sector and banks at risk of failure. Excessive pay and risk-taking by bank executives shoulder made the blame for the global crisis that has already cost Australian investors and taxpayers a sizeable portion of the nation's wealth. The project will greatly assist the regulators in this task. It will also identify compensation practices that reward good long-term performance without excessive pay. This could dramatically raise the performance of Australian companies and ameliorate the problem of dissatisfied investors and taxpayers.Read moreRead less
Effects of Maternal Work, Day Care Use and Other Investments in Children on Child Cognitive Outcomes. Later life outcomes due to investments by individuals and/or society in children is crucial to many countries, including Australia. Appropriate policy responses require reliable and valid estimates of the likely effects of individual investments and policy interventions. Despite many research reports on this topic, almost all do not control for selection bias (eg, high achieving mothers tend to ....Effects of Maternal Work, Day Care Use and Other Investments in Children on Child Cognitive Outcomes. Later life outcomes due to investments by individuals and/or society in children is crucial to many countries, including Australia. Appropriate policy responses require reliable and valid estimates of the likely effects of individual investments and policy interventions. Despite many research reports on this topic, almost all do not control for selection bias (eg, high achieving mothers tend to put children in day care), which is a feature of our work. Thus, our empirical results will have major policy implications, and will suggest ways to obtain similar results for Australian environments. Read moreRead less