Oliver Williamson argues that the attributes of the employment contract, like intermediate transactions in general, are essentially driven by the specificity of assets. In the case of the organization of work it is the particular attributes of labour that determines the transaction costs of any...

This paper exploits a unique data set to explore the importance of key contractual characteristics on the duration of employment tenure. The paper recognises the insights of the human capital and job-matching approaches in informing discussion on employment tenure. Nevertheless, this paper...