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Today, we are facing one of the biggest financial crises the modern world has known. To summarize facts, the greediness of a few ?bankers? and the globalization of the economy have lead, and are still leading to many bankruptcies and redundancies. Obviously, looking for the guilty party when things go wrong is part of human nature; the financial elite with their huge bonuses are the ideal culprits.

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[...] Bankers’ bonuses : limit or laissez-faire? Nowadays, we are facing the hugest crisis of the History. To summarize facts, the greediness of a few “bankers” and the globalization of the economy leaded, and are still leading to many bankruptcies and redundancies. Obviously, to find guilties when things go wrong is part of Man nature; And choosing richer people for it too That is why the financial elite and her huge bonuses is the ideal guilty. But are bankers’ bonuses really a underlying cause of the current crisis ? [...]


[...] Secondly, as we saw that bonuses are essential, a solution would be not to abolish this system but to modify it. In fact we can imagine that traders or fund managers should invest a part of their own assets in the funds they manage, in order to make them much more motivated, “invested” in their search of the best investment and especially aware of risk. Besides, the staggering of the payment of bonuses on at least three years would urge traders to be more careful to favour more long term investments; and not only choose short term investments which will make them earn more with their year-end bonuses. [...]


[...] Besides it reported that larger bonuses are correlated with a stronger fundamental orientation. Accordingly, bonus reward payments contribute to a more rational and more fact-based investment strategy. Put differently, in the absence of bonus payments, investment behaviour is based less on information about fundamentals, and, hence more prone to uninformed behaviour and possibly herding. Obviously, fund managers do not have any interest to take thoughtless risks, either for their investment institutions, or for their own bonuses. Therefore we can conclude that the abolition of bonuses or some too strong restrictions would have, first, harmful effects on the way of investing of fund managers, for example less important implication and workload of fund managers concerning the search for the best investments; and would obviously urge the best of them to leave to financial places where taxation is less important. [...]

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Informations sur le doc

Date de publication
24/05/2010
Langue
anglais
Format
Word
Type
dissertation
Nombre de pages
3 pages
Niveau
grand public

Informations sur l'auteur Jérémie F. (étudiant)

Niveau
Grand public
Etude suivie
Marketing
Ecole, université
université...
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