When working together, people engage in non-contractual and informal interactions that constitute the sociology of the group. We use behavioral models and a unique survey of medical groups to analyze how group sociology influences physician incentive pay and behavior. We conclude that informal...

There may be no phrase used more in professional sports than “competitive balance.” League commissioners and commentators alike emphasize the importance to have parity among teams in a sport. They argue that for the long-term health and growth of a sport, fans must have the belief that...

This paper studies amplification of productivity shocks in labor markets through on-the-job-search. There is incomplete information about the quality of the employee-firm match which provides persistence in employment relationships and the rationale for on-the-job search. Amplification arises...

This paper uses a hand-collected dataset of venture capital partnership agreements to study venture capitalists' compensation. Several new findings emerge. First, VC compensation consists of three elements, not two (management fee and carried interest), as commonly believed. The third element is...

We examine the relation between a board's decision to reject anti-takeover provisions of Pennsylvania Senate Bill 1310 and subsequent labor market opportunities of those same board members. Compared to directors retaining all provisions, directors rejecting all protective provisions of SB1310...

We measure U.S. publicly traded companies' exposures to skilled labor risk, i.e., the potential failure in attracting and retaining skilled labor, by the intensity of their discussions on this issue in their 10-K filings. We show that this measure effectively captures firm risk due to the...

Environmental sustainability is generating increased concern among business executives, governments, consumers, and management scholars. Amidst the stakeholders' struggle and the challenges and opportunities from environmental concerns, HRM function joins the ongoing discussions and debates. The...

This chapter, for the forthcoming Encyclopedia of Labor and Employment Law and Economics, provides an overview of legal and economic analysis of contractual and regulatory constraints on the use of knowledge, skill and information acquired during the employment relationship. Three interrelated...