Yokoyama, Izumi; Obara, Takuya - In: IZA Journal of Labor Policy 6 (2017) 14, pp. 1-15
layoffs. Next, we show empirically the trend whereby firms with performance-based payment systems are unlikely to implement … wage cuts. Given this first-stage regression, the status of a performance-based payment system, based on the firm's past … may imply an unexpected side effect of the increasing use of performance-based payment systems: as such systems become …