This paper studies the effect of ownership structure on workers' incentives for investing in firm-specific human …

The paper provides empirical evidence how promotion incentives and performance pay are related to nonverifiable human … incentives are positively related to nonverifiable firm-specific human capital acquisition whereas individual performance pay (i … to such general human capital acquisition and there is no such relation for promotion incentives …

framework, we predict that promotion opportunities create implicit incentives to invest in job-specific human capital. To test …-based incentives, which focus on the current job, promotion is an ideal mechanism to incentivize the acquisition of human capital that …