This study examines the impact of foreign ownership on the firm's labour cost using a panel data of 496 publicly traded Korean companies during the post Asian financial crisis period of 1998-2003. It shows that foreign ownership is positively related to labour cost but this positive effect is...

This paper investigates the effects of corporate governance factors and family ties on the pay of managing directors in a sample of Indian stock listed companies. It uses a unique seven-year firm level panel dataset and controls for firm performance and both CEO and firm specific fixed effects....

This paper examines the use of incentive pay schemes within the financial services sector in London. Various theories of wage determination are reviewed with particular attention placed on the principal-agent literature as a framework for analysing the use of incentive pay. This is combined with...

The contract of employment heads the list of those labour market institutions whose continued usefulness is called into question by what appear to be fundamental changes in the world of work. However, given the multiple tasks of classification, regulation and redistribution which it has...

This paper reconstructs the evolutionary path of the contract of employmentin English law. It demonstrates that the contract of employment is a more recent innovation than widely thought, and that its essential features owe as much to legislation as they do to the common law of contract. The...

The statutory protection currently provided by UK law to employees during transfers of undertakings and other restructurings has been criticised on the grounds that it undermines insolvency procedures and interferes with the 'rescue' process. We present an analysis which suggests that granting...

The article analyses the institutional basis and form of the employment contract in Britain using the 1998 Workplace Employee Relations Survey. It assesses the extent to which collective bargaining still regulates pay and non-pay aspects of employment. The paper shows that while collective...

This paper reports findings from a survey designed to estimate the numbers excluded from employment protection in the UK by the ‘employee’ test and to examine, through qualitative research, perceptions of the process of employment contracting. The survey evidence shows that approaching one...

Legal origins theory suggests that law reform, strengthening shareholder and creditor rights, should enhance financial development. We use recently created datasets measuring legal change over time in a sample of 25 developing, developed and transition countries to test this claim. We find that...

It is argued here that - contrary to current conventional wisdom - an active market for corporate control is not an essential ingredient of either company law reform or financial and economic development. The absence of such a market in coordinated market systems during their modern economic...