Market or State : The Regulation and Practice of Bankers' Remuneration in the UK and China

This book investigates the pre-crisis practice of bankers' remuneration in the UK to provide evidence of the problems in practice. It critically analyses the regulatory initiatives implemented after the crisis and investigates the post-crisis practice to reflect the effects and problems of the regulation. The book also discusses the traditional administration of remuneration and political incentives in Chinese banks and the regulatory initiatives for reforming bankers' remuneration. It investigates the recent practices in major Chinese banks to reveal the problems of the regulatory initiatives and the impact of political incentives. It will help academics, researchers, students and practitioners develop a comprehensive understanding of the ongoing reform of bankers' remuneration in the UK and the uniqueness of banks' remuneration systems and incentive mechanisms in China. Furthermore, it provides theoretical insights into the differences between the two jurisdictions in their regulations and practices and the deep-seated reasons for the differences. "The GFC that spread through the world's major economies from 2007 to 2009 resulted in a flurry of banking collapses and a long-term, disastrous depression in the global financial markets. In major Western economies, the failure of many world-leading banks caused serious detriments, including huge economic losses incurred by investors and the enormous amounts spent by national governments to bail out failed banks, which were ultimately assumed by individual taxpayers. As a result, the public became angered by failed banks; in particular, public condemnation targeted the 'sky-high' remuneration paid to bankers"-- Provided by publisher The book benefits academics, researchers, students and practitioners who intend to develop a comprehensive understanding of the ongoing reform of bankers' remuneration in the UK, the uniqueness of banks' remuneration systems and incentive mechanisms in China, and the institutional reasons for the differences between their regulations and practices