This paper provides novel evidence on the effects of employee stock ownership (ESO), a prominent example of shared capitalism. In so doing, we take advantage of our access to new panel data on Japanese ESO plans for a highly representative sample of publicly-traded firms in Japan (covering more...

By combining Danish registry data covering the population of Danish workers with the Danish Labor Force Survey (DLFS) which provides detailed data on working hours, we provide fresh evidence and insights on a potentially important role that career concerns/considerations play in accounting for...

This paper begins with addressing a simple empirical question: how much Japanese executives earn. By presenting the first systematic review of prior studies reporting the mean level of Japanese executive compensation, I conclude that the best available answer to this empirical question is that...

Purpose: The purpose of this paper is to provide novel and rigorous evidence on the productivity effect of varying attributes of performance-related pay (PRP) and shows that the details of PRP indeed matter. Design/methodology/approach: In doing so, the authors exploit the panel nature of the...

This paper provides evidence on how executive compensation relates to firm performance in listed firms in China. Using comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on executive compensation and ownership structure, we find for...

This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm...