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unionized workforce. We develop a simple efficiency wage model, with a tradeoff between higher wages for workers and more … firm. Unions, by redistributing rents towards the workers, lead to lower employment and lower pay for managers. Using a … variety of data sets, we examine the implications of the model for the relationship between the employment and wages of …
Persistent link: https://www.econbiz.de/10011333286
In recent decades, most developed countries have experienced a simultaneous increase in income inequality and management compensation. In this paper, we study the relation between management compensation and firm-level income dynamics in a general equilibrium model. Empirical estimation, of the...
Persistent link: https://www.econbiz.de/10013324993
Based on the recent SEC-mandated disclosures of CEO-worker pay ratios, we find that firms significantly decrease (increase) their CEO-worker pay ratios when their prior pay ratios are high (low) relative to peers. More importantly, the decrease in pay ratio among high pay ratio firms is...
Persistent link: https://www.econbiz.de/10014348601
hotels. Exploiting this variation and using rich, longitudinal data on the hotel industry, we estimate differences in wages …
Persistent link: https://www.econbiz.de/10013115943
The level of Chief Executive Officer (CEO) pay responds asymmetrically to good and bad news about the CEO's ability. The average CEO captures approximately half of the surpluses from good news, implying CEOs and shareholders have roughly equal bargaining power. In contrast, the average CEO bears...
Persistent link: https://www.econbiz.de/10012857523
This paper surveys the recent literature on CEO compensation. The rapid rise in CEO pay over the past 30 years has sparked an intense debate about the nature of the pay-setting process. Many view the high level of CEO compensation as the result of powerful managers setting their own pay. Others...
Persistent link: https://www.econbiz.de/10013145369
This paper surveys the recent literature on CEO compensation. The rapid rise in CEO pay over the past 30 years has sparked an intense debate about the nature of the pay-setting process. Many view the high level of CEO compensation as the result of powerful managers setting their own pay. Others...
Persistent link: https://www.econbiz.de/10013316120
Persistent link: https://www.econbiz.de/10015061070
unionized workforce. We develop a simple efficiency wage model, with a tradeoff between higher wages for workers and more … firm. Unions, by redistributing rents towards the workers, lead to lower employment and lower pay for managers. Using a … variety of data sets, we examine the implications of the model for the relationship between the employment and wages of …
Persistent link: https://www.econbiz.de/10005666977
The growing presence of women at the top of companies has sparked interest in examining their role in the remuneration … six positions for women in company management: on the board of directors, executive directors, CEOs, proprietary directors … the proportion of women in different categories of board and senior management positions has a positive effect on the CEO …
Persistent link: https://www.econbiz.de/10015101861