Paper Title
Outside Director Compensation in The Banking Industry

Abstract
External directors’ monitoring and advising activities as agents were supposed to increase after the Dodd-Frank Act in 2010. This Act significantly increased the pressure on external boards of directors to be more effective agents of the stockholders even after the Sarbanes-Oxley Act (2002) became effective. External director compensation benefits as a tool to align an agent’s interests with those of stockholders is an important empirical issue and our paper empirically tests this issue in the banking industry around the Dodd-Frank Act using the U.S. banking firm data from 2009-2014.