This thesis consists of three chapters of a theoretical nature, all related to the topic of competition in the financial sector. The first chapter studies how competition for talented workers induces banks to set variable wage schemes, and how these wage schemes can lead to excessive risk. The second chapter argues that non-exclusive investor-firm relations can lead to an excessive provision of liquidity. The third chapter studies an economy in which different investors all compete non-exclusively for investment in a long-term project subject to a stochastic liquidity demand. The result is that investment can only take place if an intermediary is present in this economy.
|Qualification||Doctor of Philosophy|
|Award date||16 Mar 2015|
|Place of Publication||Tilburg|
|Publication status||Published - 2015|