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Warum Boni im Bankenbereich scheitern (müssen)
Reint E. Gropp, Andre Guettler
Wirtschaft im Wandel,
Nr. 3,
2021
Abstract
In der Finanzkrise sind Boni für Bankmanager in die Kritik geraten. Bonussysteme stehen im Verdacht, Anreize für eine zu riskante Kreditvergabe zu setzen. Der vorliegende Beitrag untersucht am Beispiel einer großen internationalen Geschäftsbank, wie sich ein Bonussystem, das ein hohes Volumen neu vergebener Kredite belohnt und den Ausfall von Krediten bestraft, auf das Verhalten von Kreditsachbearbeitern auswirkt. Die Ergebnisse zeigen, dass Kreditsachbearbeiter die Anbahnung neuer und die Überwachung bestehender Kredite verstärken, wenn sie ihren monatlichen Bonus zu verlieren drohen. Eine genauere Prüfung von Kreditanträgen findet dagegen nicht statt. Kreditsachbearbeiter passen ihr Verhalten besonders gegen Monatsende an, wenn die Bonuszahlung herannaht. Langjährige Mitarbeiter reagieren stärker auf das System als jüngere Kollegen. Komplexe Produktivitätsaspekte wie die Teamfähigkeit können mit Bonussystemen nicht erfasst werden.
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Financial Incentives and Loan Officer Behavior: Multitasking and Allocation of Effort under an Incomplete Contract
Patrick Behr, Alejandro H. Drexler, Reint E. Gropp, Andre Guettler
Journal of Financial and Quantitative Analysis,
Nr. 4,
2020
Abstract
We investigate the implications of providing loan officers with a nonlinear compensation structure that rewards loan volume and penalizes poor performance. Using a unique data set provided by a large international commercial bank, we examine the main activities that loan officers perform: loan prospecting, screening, and monitoring. We find that when loan officers are at risk of losing their bonuses, they increase prospecting and monitoring. We further show that loan officers adjust their behavior more toward the end of the month when bonus payments are approaching. These effects are more pronounced for loan officers with longer tenures at the bank.
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Financial Incentives and Loan Officer Behavior: Multitasking and Allocation of Effort Under an Incomplete Contract
Patrick Behr, Alejandro H. Drexler, Reint E. Gropp, Andre Guettler
Abstract
In this paper we investigate the implications of providing loan officers with a compensation structure that rewards loan volume and penalizes poor performance versus a fixed wage unrelated to performance. We study detailed transaction information for more than 45,000 loans issued by 240 loan officers of a large commercial bank in Europe. We examine the three main activities that loan officers perform: monitoring, originating, and screening. We find that when the performance of their portfolio deteriorates, loan officers increase their effort to monitor existing borrowers, reduce loan origination, and approve a higher fraction of loan applications. These loans, however, are of above-average quality. Consistent with the theoretical literature on multitasking in incomplete contracts, we show that loan officers neglect activities that are not directly rewarded under the contract, but are in the interest of the bank. In addition, while the response by loan officers constitutes a rational response to a time allocation problem, their reaction to incentives appears myopic in other dimensions.
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