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It is not possible for a formal employment contract to detail everything an employee should do and when. Informal relationships, in particular trust, allow managers to arrange a business in a more productive way; high-trust firms are both more profitable and faster growing. For example, if they...
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workers, (b) management opposition against workers' organizing drives, (c) the possibility of productivity enhancing effects … possibility of forgone productivity gains puts an upper bound on management opposition against organizing drives of the workers …, even if management opposition is cost-less. Strategic gift exchange - less opposition for higher productivity - plays a …
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