德勤－复旦会计论坛系列260期讲座信息
时间：2025年 11月24日（周一）下午13:30
地点：史带楼603教室
主持人: 施海娜 副教授
报告人: Zheng Wang （City University of Hong Kong）
题 目: Pay Transparency and Risk Appetite: Evidence from Mortgage Lending Decisions
摘 要: This study examines the impact of state-level adoptions of pay transparency laws (PTLs) on mortgage loan origination and performance. PTL adoptions allow coworkers to openly discuss salaries in the workplace. Within the banking sector, mortgage officers typically belong to the lower-ranked income group. Therefore, PTL adoptions can increase mortgage officers’awareness of their relative pay disadvantage. We thus find that these officers become more aggressive in loan originations and the loans they originated have higher delinquency rates, suggesting a deterioration in loan quality. These effects are stronger in regions with greater income disparities within the banking sector or in those with a more risk-prone culture. Collectively, our findings suggest that pay transparency can increase mortgage bankers’risk appetite.
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