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Executive Compensation, Firm Performance, and Chaebols in Korea: Evidence from New Panel Data

Kato, Takao; Kim, Woochan; Lee, Ju Ho - Institute for the Study of Labor (IZA) - 2005

This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm...

Persistent link: https://www.econbiz.de/10005822774

Executive Compensation, Firm Performance, and Corporate Governance in China: Evidence from Firms Listed in the Shanghai and Shenzhen Stock Exchanges

Kato, Takao; Long, Cheryl - Institute for the Study of Labor (IZA) - 2005

This paper provides evidence on how executive compensation relates to firm performance in listed firms in China. Using comprehensive financial and accounting data on China’s listed firms from 1998 to 2002, augmented by unique data on executive compensation and ownership structure, we find for...

Persistent link: https://www.econbiz.de/10005566733

Performance Pay and Risk Aversion

Grund, Christian; Sliwka, Dirk - Institute for the Study of Labor (IZA) - 2006

A main prediction of agency theory is the well known risk-incentive trade-off. Incentive contracts should be found in … environments with little uncertainty and for agents with low degrees of risk aversion. There is an ongoing debate in the literature … use of a unique representative data set, we find clear evidence that risk aversion has a highly significant and …

Persistent link: https://www.econbiz.de/10005822413

The Peter Principle: An Experiment

Dickinson, David L; Villeval, Marie Claire - Institute for the Study of Labor (IZA) - 2007

The Peter Principle states that, after a promotion, the observed output of promoted employees tends to fall. Lazear (2004) models this principle as resulting from a regression to the mean of the transitory component of ability. Our experiment reproduces this model in the laboratory by means of...

Persistent link: https://www.econbiz.de/10005822026

Incentives for Managers and Inequality Among Workers: Evidence from a Firm Level Experiment

Bandiera, Oriana; Barankay, Iwan; Rasul, Imran - Institute for the Study of Labor (IZA) - 2006

We present evidence from a firm level experiment in which we engineered an exogenous change in managerial compensation from fixed wages to performance pay based on the average productivity of lower-tier workers. Theory suggests that managerial incentives affect both the mean and dispersion of...

Persistent link: https://www.econbiz.de/10005822207

Gift Exchange within a Firm: Evidence from a Field Experiment

Bellemare, Charles; Shearer, Bruce - Institute for the Study of Labor (IZA) - 2007

We present results from a field experiment testing the gift-exchange hypothesis inside a treeplanting firm paying its workforce incentive contracts. Firm managers told a crew of tree planters they would receive a pay raise for one day as a result of a surplus not attributable to past planting...

Persistent link: https://www.econbiz.de/10005822733

Feedback in Tournaments under Commitment Problems: Theory and Experimental Evidence

Gürtler, Oliver; Harbring, Christine - Institute for the Study of Labor (IZA) - 2007

In this paper, we analyze a principal's optimal feedback policy in tournaments. We close a gap in the literature by assuming the principal to be unable to commit to a certain policy at the beginning of the tournament. Our analysis shows that in equilibrium the principal reveals intermediate...

Persistent link: https://www.econbiz.de/10005822892

Pay Enough, Don't Pay Too Much or Don't Pay at All? The Impact of Bonus Intensity on Job Satisfaction

Pouliakas, Konstantinos - Institute for the Study of Labor (IZA) - 2010

Using ten waves (1998-2007) of the British Household Panel Survey (BHPS), this paper investigates the ceteris paribus association between the intensity of incentive pay, the dynamic change in bonus status and the utility derived from work. After controlling for individual heterogeneity biases,...

Persistent link: https://www.econbiz.de/10008611510

Incentives and Cooperation in Firms: Field Evidence

Berger, Johannes; Herbertz, Claus; Sliwka, Dirk - Institute for the Study of Labor (IZA) - 2011

We empirically investigate the impact of incentive scheme structure on the degree of cooperation in firms using a unique and representative data set. Combining employee survey data with detailed firm level information on the relative importance of individual, team, and company performance for...

Persistent link: https://www.econbiz.de/10008922969

Equity and Efficiency in Multi-Worker Firms: Insights from Experimental Economics

Abeler, Johannes; Altmann, Steffen; Goerg, Sebastian; … - Institute for the Study of Labor (IZA) - 2011

In this paper, we discuss recent evidence from economic experiments that study the impact of social preferences on workplace behavior. We focus on situations in which a single employer interacts with multiple employees. Traditionally, equity and efficiency have been seen as opposing aims in such...

Persistent link: https://www.econbiz.de/10009024592

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