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Analysing
the data on compensation practices in
investment banks and other important financial
institutions the author argues that, this,
by inducing reckless risk-taking by the
key decision makers in these firms, created
the precondition for the recently experienced
global financial crisis. The paper discusses
possible answers to the challenging questions
regarding the source of such compensation
and their sustainability over time to
help build up understanding about the
appropriate regulation of financial markets.
December 7, 2009.
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