Traditional neoclassical microeconomic theory views the production function as a "black box" where homogenous inputs go in and output comes out. Differences in labor productivity between firms are mainly due to technological constraints facing the firm.

This study looks at recent changes in managerial labor markets in terms of changes in the relationship between tenure and earnings. Many product markets have become less stable during the past decade with the deregulation of several industries and increases in foreign competition. As a result,...

Using a principal-agent model this research examines the efficacy of a fundamental internal control-separation of duties (SOD). The firm is the principal and non-managerial employees are agents. Three cases are studied. The first case is a bench-mark single-agent model. The second case is a SOD...

This study purports to compare employment adjustment process in steel industry between the U.S. and Japan in the period 1974-1988. In response to production decline after the Oil Shock of 1973, Japanese steel companies reduced working hours, but not employment. In the 1980s, however, they...