, are the first to leave the firm (Last In, First Out; LIFO). Second, workers’ wages rise with seniority (= a worker … to seniority in wages. Efficiency in hiring requires the workers’ bargaining power to be in line with their share in the …

This study exploits a new dataset in order to quantify the effect of financial incentives on retirement choices. This … dataset contains for the first time in Italy information on seniority. In accordance with the general finding in Gruber and … Wise (2004), we find that financial incentives have an effect on retirement. The effect goes in the expected direction …

explanation is that managers require to be compensated for the additional risk inherent in running an aggressive tax strategy. In …

-taking incentives in addition to effort incentives. We develop a stylized principal-agent model that captures the interdependence … between firm risk and managerial incentives. We calibrate the model to individual CEO data and show that it can explain … with the almost uniform use of at-the-money stock options. We conclude that the provision of risk-taking incentives is a …

This paper studies how social relationships between managers and employees affect relational incentive contracts. To … each other. The contract may contain two types of incentives for the agent to work hard: a bonus and a threat of dismissal …

they rate their co-worker relationships when they work under individual incentives, group incentives, or a combination of … in the Netherlands. We find correlational evidence that, in the absence of individual incentives, group incentives …